Tuesday, October 10, 2006
  EconoPundit
  Economic News and Views
I mean heck, why are we just so darn mean spirited anyway?
Edmund Phelps explains the difference between European Capitalism (a.k.a. Democratic Socialism) and US Capitalism. And just in case you'd like an up to date example of what's being talked about, consider Boeing versus Airbus.

With all due respect to prof. Phelps we still feel Alesina, Glaeser, and Sacerdote touched most of the the bases in 2001.
Link posted by Steve Antler : 9:38 AM

Hate Big Oil...U Must Hate Big Oil...Repeat after me...
The self-important nasty-smug ignorance of this argument is beyond belief.

We're too dependent on foreign producers -- so naturally the best thing to do is tax all those fat cat domestic suppliers of the product.
Link posted by Steve Antler : 4:18 AM

Monday, October 09, 2006
The official word...
On Edmund Phelps' contributions to modern macroeconomics...
Link posted by Steve Antler : 1:58 PM

A test -- or a sales demo?

For what it is worth, I'd like to draw everyone's attention to the small size of the reported explosion.

Yes, this may mean they're not capable of putting together a really big weapon -- but might it not also mean selling points like portability interest them more than kilotonnage?

If the US reports to bilateral talks, the discussion may involve simple threats of nuclear weapon sales. I am no expert on North Korea's goals or bargaining strategies, but I wouldn't be surprised to soon hear from them public threats of such nuclear weapons sales.

UPDATE: The economic (ahem) fallout begins. Look for an interesting day on world markets.

UPDATE II: In case you were wondering here is OneFreeKorea's list of things we can do.

UPDATE III: Another list of things we can do.

UPDATE IV: We might have done lots of other things, we didn't do them, but at least we had plans.

UPDATE V: To date, this is (in my humble opinion) the best list of things we can do.
Link posted by Steve Antler : 5:15 AM

Wednesday, October 04, 2006
That time of year for...
John McCutcheon's "Injun Summer"

Yep, sonny this is sure enough Injun summer. Don't know what that is, I reckon, do you? Well, that's when all the homesick Injuns come back to play; You know, a long time ago, long afore yer granddaddy was born even, there used to be heaps of Injuns around here -- thousands -- millions, I reckon, far as that's concerned. Reg'lar sure 'nough Injuns -- none o' yer cigar store Injuns, not much. They wuz all around here -- right here where you're standin'.Don't be skeered -- hain't none around here now, leastways no live ones. They been gone this many a year.They all went away and died, so they ain't no more left.



But every year, 'long about now, they all come back, leastways their sperrits do. They're here now. You can see 'em off across the fields. Look real hard. See that kind o' hazy misty look out yonder? Well, them's Injuns -- Injun sperrits marchin' along an' dancin' in the sunlight. That's what makes that kind o' haze that's everywhere -- it's jest the sperrits of the Injuns all come back. They're all around us now.



See off yonder; see them tepees? They kind o' look like corn shocks from here, but them's Injun tents, sure as you're a foot high. See 'em now? Sure, I knowed you could. Smell that smoky sort o' smell in the air? That's the campfires a-burnin' and their pipes a-goin'.Lots o' people say it's just leaves burnin', but it ain't. It's the campfires, an' th' Injuns are hoppin' 'round 'em t'beat the old Harry.You jest come out here tonight when the moon is hangin' over the hill off yonder an' the harvest fields is all swimmin' in the moonlight, an' you can see the Injuns and the tepees jest as plain as kin be. You can, eh? I knowed you would after a little while.Jever notice how the leaves turn red 'bout this time o' year? That's jest another sign o' redskins. That's when an old Injun sperrit gits tired dancin' an' goes up an' squats on a leaf t'rest. Why I kin hear 'em rustlin' an' whisper in' an' creepin' 'round among the leaves all the time; an' ever' once'n a while a leaf gives way under some fat old Injun ghost and comes floatin' down to the ground. See -- here's one now. See how red it is? That's the war paint rubbed off'n an Injun ghost, sure's you're born.Purty soon all the Injuns'll go marchin' away agin, back to the happy huntin' ground, but next year you'll see 'em troopin' back -- th' sky jest hazy with 'em and their campfires smolderin' away jest like they are now.

UPDATE: I know we're better off now what with lower air pollution, but still and all I wish kids now could grow up with some ideal of Fall's remarkably woody smell of burning leaves. Hey you kids at MIT and other campuses -- don't go crazy, just rake together a few tiny piles of leaves and -- what the hell -- light them to see what it's like. (Then put the fire out of course.)
Link posted by Steve Antler : 1:13 PM

Tuesday, October 03, 2006
Did Rove do this too?
As the good old economic calendar shows, tomorrow is the the day info on weekly US petroleum stocks will be released. (For some reason the calendar omits any link to this site -- where data are available).

Others who claim to know warn against the simplism of "instantly capitalizing to the extreme every single economic datum" -- but this historical chart seems rather direct and compelling:



To make things easier to read I've plotted the original data (red line) and a 52-week backward moving average (blue line). What the blue line seems to say is simple: we're now just barely starting to sell off the largest runup in US crude inventory in a quarter century. It took us about three years to build up this inventory. If history is any guide, it will take another three years for this inventory to wind down.

I doubt gas prices will be moving up any time soon.
Link posted by Steve Antler : 12:58 PM

Monday, October 02, 2006
Closure...
Watching on a small screen low-tech blurry 60's TV, listening intently to the tinny-tiny speaker sound (whenever Walter Cronkite would shut his damn mouth, that is), I distinctly remember hearing the sentence with that missing word "a" -- just I argued then and have argued many times since, and just as is now being reported.

So even back then, with half the world listening and fact checking what they say, the MSM managed to get it wrong.
Link posted by Steve Antler : 7:45 AM

 
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