Join Leo as he opens with a monologue dedicated to those who race across the country at the end of the year in order to meet those last elite status frequent flyer mileage points.  Leo cuts the red ribbon in unveiling the MonoBlog.

In News, Leo spots a study that claims home prices must fall far to be in sync with rents.

In other news, The Mayor of New York, Michael Bloomberg, now has his City developing its own measure for determining poverty in order to help asses the City's efforts in adequately helping people rise above the real poverty line.  The current Federal Standard is laughably based on the capability of buying basic groceries.  The proposed New York City formula takes into account, among other things, rent, utilities, and child care.

In an effort to determine its own emissions standard, California sues the Bush Administration EPA.

Home computer monitoring of utilities are coming on board now.  It has been found that when people monitor their own home usage, they use less.  Leo (and other reasonable engineers) can't understand why this is taking so long.

Finally, we play some music and take your calls.

READ: Leo's editorial Running On Empty

LISTEN: New Capital Show (January 10, 2008)