REMINDER: All investment, economics, and finance related material now appears at the new IaconoResearch.com. For the time being at least, this has become a personal blog covering a variety of mostly unrelated topics.

If You Build It…

This short detour through Dyersville, Iowa last week was well worth it as the movie set for “Field of Dreams” is really something that any fan of baseball or the movie should see.

Field of Dreams
Click to enlarge

As you might expect, the house and the ball field are pretty much exactly as they appeared in the movie with the notable exception of there being no corn in the cornfield at this time of the year. What we thought was more interesting than the movie set was the surrounding area where 40+ acre farms (with similar white houses and red barns) go on and on and on, this being one of thousands of similar properties in the state.







Since we are about to embark on another cross-country road trip today (as detailed in this item at Iacono Research), it seemed like a case of “now or never” to get a few comments up about our journey to Las Vegas last month, so, what follows is a quick recap of our visit along with a few thoughts about how the area has changed and how we’ve changed.

Wynn Hotel from TIIt was a fascinating trip in many ways and the “end of an era’” as well since one of the main reasons we made the journey was to visit relatives who are now racing the clock to get everything squared away before the moving vans show up in a couple weeks to take them to Arkansas after having lived in Las Vegas for more than 20 years.

They managed to sell their house in North Las Vegas at about the same price they paid back in the late-1980s, a 2012 housing success story if ever there was one for one of the nation’s worst housing markets.

Since they’ll no longer be there, we have even less of a reason to go back there which is why it seems unlikely that we’ll ever visit the place again. If we ever return to Southern California, we’ll likely pass through, but I’m guessing that we’ll never spend the night there again or walk the streets and take in the sights.

Despite the opulence of places like the Venetian, Wynn, and Palazzo, the area had an even greater underlying sense of despair and an obviously growing divide between the rich and the poor that make it all a little depressing to take in – kind of like the troubled relative who shows up at a family gathering with a nice car and a nice, tidy appearance when you know from hearing the family talk about him that the guy’s life is a mess.

From the outside, things appear just fine, but beneath the shiny veneer, it’s a different story.

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I don’t know about you, but I’m not looking forward to the political discourse that we’re likely to hear over the next six months, particularly if the U.S. economy continues to weaken and the finger-pointing increases leading up to the November elections. So, it might be a good idea to only look on the lighter side of the political debate as it relates to voters’ number one issue – the economy – a good example of which is shown below.

From the Nate Beeler archive at the Washington Times.

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The Best of the Bozeman Police Reports

Culled from the Police Reports page of the Bozeman Daily Chronicle come the best of the Bozeman police reports from the last week along with some items from the Sheriff’s Office. Note that a new book featuring the very best of these police reports is now available from the Chronicle for only $10 – just click on the banner below to find out how to order.

It’s been a few weeks since the last look at the Bozeman police blotter and, with the weather being unusually warm for this time of the year (although we got about four inches of snow last night that should last about a day – go figure!), there are indeed some interesting items to report, highlighted by the very first entry below.

This should serve as a warning to all alcohol impaired drivers that, if you’re going to pass out behind the wheel, try not to have your vehicle moving in the direction of a police car. Also, in the event that others don’t know what “huffing Dust Off” is in the two items about half-way down, Veronica Rohrmoser explains in this video.

  • A man was passed out in the driver’s seat of his vehicle on North 19th Avenue at 1:55 a.m. The vehicle rolled into a city patrol car. The man was arrested for aggravated driving under the influence.
  • A woman asked deputies to check on her husband. He was supposed to pick her up from the airport two hours earlier, but he didn’t show. She couldn’t reach him on his cellphone. When deputies arrived at his house, he had just woken up and realized he was late to pick her up.
  • A woman was driving around a subdivision very slowly, stopping and looking at every home. The driver was also stopping and looking at young kids on their bikes.
  • A man was found passed out in Catherine Lane Interiors under some sheets the store had on the floor.
  • A caller reported seeing a driver on a cellphone. The caller was also on a cellphone.

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Oil Field Justice

This Associated Press story about trouble in the oil fields was in the local paper the other day along with the somewhat related news that unemployment in Montana now stands at only 6.2 percent, two percent below the national average, but almost double what it is in neighboring North Dakota where most of the oil fields are.

GLASGOW, Mont. – Drug crimes in eastern Montana have more than doubled. Assaults in Dickinson, N.D., have increased fivefold in just two years. And the once-sleepy town of Plentywood, Mont., has seen three assaults with weapons in the past few months – a prospect previously unheard of in the tiny community tucked against the Canada border.

Booming oil production has brought tens of thousands of jobs and hundreds of millions of dollars in new revenues to communities across a wide expanse of the northern Plains. But it also has brought more crime, forcing law enforcement from the U.S. and Canada to deal with spiking offenses ranging from drug trafficking and gun crimes to prostitution.

The region is emerging as one of the top oil-producing areas of North America. Officials say up to 30,000 more workers could descend on the Bakken oil fields of Montana, North Dakota and Saskatchewan in the next few years.

The recent kidnapping and brutal murder of Montana teacher Sherry Arnold tragically underscored the changes brought on by the rapid pace of drilling. Two men are in custody, but the case has left residents shaken and led to a huge rise in applications to carry concealed weapons in Montana and North Dakota.

In the wake of Arnold’s killing in the town of Sidney, which is quickly being overtaken by the boom, federal prosecutors began a two-day retreat Monday in Glasgow for about 150 police officers, sheriffs, federal agents and other law enforcement to craft a common strategy to deal with rising crime.

Towns like Plentywood, population 1,600, were until recently places “you could send your kids to the pool in the summertime on their bikes and not have to worry about it,” said Sheridan County Attorney Steven Howard. “All those things are changing,” he said, adding that the Arnold case “has had a chilling effect on our people.”

We’ve heard a lot about the Sherry Arnold murder in recent months. In some ways, it’s probably like the 1860’s gold rush in this part of the country or when they built the railroad not long after with what they call “sprawling man camps” for all the workers who are being paid handsomely. Some small percentage of young men working hard and making lots of money always seem to get into trouble and, understandably, the locals don’t like it much.

Medicated Nation

I don’t know quite what to do with this blog yet…

Over and over I come across items that are not related to economics, finance, and investing that would surely be of interest to others, but I just never get around to getting them up as posts, a good example being this Associated Press story from before our trip to Las Vegas about the ongoing rise in prescription drug use across the country.

Sales of the nation’s two most popular prescription painkillers have exploded in new parts of the country, an Associated Press analysis shows, worrying experts who say the push to relieve patients’ suffering is spawning an addiction epidemic.

From New York’s Staten Island to Santa Fe, N.M., Drug Enforcement Administration figures show dramatic rises between 2000 and 2010 in the distribution of oxycodone, the key ingredient in OxyContin, Percocet and Percodan. Some places saw sales rise sixteenfold.

Medicated Nation

Meanwhile, the distribution of hydrocodone, the key ingredient in Vicodin, Norco and Lortab, is rising in Appalachia, the original epicenter of the painkiller epidemic, as well as in the Midwest.

The increases have coincided with a wave of overdose deaths, pharmacy robberies and other problems in New Mexico, Nevada, Utah, Florida and other states.

Wow – New York, Florida, and Tennessee, an odd combination. A report the other day on one of the national news shows detailed how teenagers grab handfuls of their parents’ prescription drugs and throw them all into a big bowl at parties for their friends to grab handfuls out of in order to liven things up a bit. A sign of the times, to be sure.

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