Global economic indicator?

Many years ago, my brother-in-law was visiting us from Lithuania—this was back before Lithuania reclaimed its independence. As it happened, I bought a new Honda Civic while he was visiting, so I took him along for the shopping experience and the eventual delivery of the new car.

As we drove off the dealer's lot, he asked, "How much more is it worth now, compared to what you paid for it?" I assumed we were having a translation issue, but no, he was quite serious. At that time in Lithuania the wait for a new car might be 10 years (especially if you lacked the right party connections) and so new cars routinely shot up in value when they were acquired. By perhaps 100%!

I thought of those days as I read today's Wealth Report. Apparently the demand for private jets has vastly outstripped supply. A new Gulfstream sells for $40 million but you can't get one before 2013. Because so many oil potentates can't wait, the price of a used Gulfstream is $45 million, because you can take delivery next month.

For some people the high price of jet fuel is not a problem.