Things I Shall Never See
By Mitch Berg
One: Tom Swift and Mark Gisleson discussion the fine-point pros and cons of Hayek over a bottle of Chilean Pinot Grigio.
Two: The Cubs winning the World Series.
Three: Any of the Twin Cities’ deep-pocketed leftyblogs showing the faintest shred of knowledge about economics.
UPDATE: Oops. Wrote too soon.
Chalk it up to basic economics of supply and demand.
Americans are driving less, and the price of gas keeps falling.
Unmentioned: The psychological boost of the Republican push to drill and build refineries.
Hey, I did specify “faint shred”, right?
August 12th, 2008 at 7:52 am
You’ll have to show me the law of economics that pertains to “psychological boosts” and their effects on supply and demand.
August 12th, 2008 at 8:35 am
Can’t say I’d call it a “law”, Tim, but tell me this: If you’re betting on futures, which is more likely to cause a price increase:
a) the likelihood that supplies will constrict?
b) the likelihood that supplies will expand?
Since you’re a DFLer, you get three guesses.
August 12th, 2008 at 10:12 am
The people that were buying oil at $140 were betting that oil would be sustained or driven higher from that point, ie, they believed that demand would increase and supply wouldn’t.
Funny thing — the smart money is on Obama winning in Nov. The smart money also apparently believes his war against fossil fuels will be lost.
August 12th, 2008 at 12:08 pm
You’ll have to show me the law of economics that pertains to “psychological boosts” and their effects on supply and demand.
hmm, perhaps see Craze, Cabbage Patch Dolls
August 12th, 2008 at 2:44 pm
hmm, perhaps see Craze, Cabbage Patch Dolls
and Furbies, Elmo TMX, PS2, Xbox360 (for a week), PS3 (for 2 days), Nintendo Wii…
August 12th, 2008 at 2:48 pm
…Hannah Montana, tulips, adjustable rate mortgages, Duran Duran…
August 12th, 2008 at 4:26 pm
…Change We Can Believe in…