Economics attempts to mathematically model desire.
Echo? What Echo? Scientists and other investigators are beginning to question the evidence “proving” that North Korea was responsible for sinking the South Korean naval vessel. Can you say 'Turner Joy'? On the other hand, is it possible that one day North Korea will make the step from saying silly things to doing incredibly stupid things?
Extra Credit Question: Who Ultimately Pays the Corporate Income Tax? A: The same guy that ultimately pays all taxes, the consumer.
Jobs is Jobs: An American Petroleum Institute report claims that producing natural gas from the Marcellus shale region could create as many as 280,000 jobs, many of them presumably involved in repairing the ecological damage done by the drilling, perhaps many others in related healthcare jobs.
Parse This: Newt Gingrich explains that his calling Shirley Sherrod “viciously racist” “is one more example of the Obama administration's continuing incompetence.”
The Dead Budgie: In failing to take meaningful action now to avert catastrophic climate change, our politicians doom us to a disaster of our own making. It is not just a failure of the Democratic leadership, not simply another Presidential failure, it is a failure for each of us, for our children and our grandchildren. It is a victory of today over all our tomorrows.
Fifty/Fifty: The US government, facing a $1.47 trillion deficit, is borrowing 41 cents of every dollar it spends. This does not end well.
Good Idea: Economist Robert Solow, Professor Emeritus, MIT thinks the time has come for “Building a Science of Economics for the Real World”. Why didn't Krugman or one of those guys from Chicago think of that?
Economic Theroy: Testing economists' belief that if you spend more money you can produce more resources, Mexico is urging foreign and private oil companies to spend money to find more oil as its production drops 2% in a month and cash-earning exports drop 4%.
Small Blue Planet Seeks Same: A NASA space probe has found “at least” 140 planets similar to Earth. Each was created in only seven days.
Puzzle: Why do conservatives dismiss those, like Keynes, who have been right about the economy and insist we follow the sack-cloth and ashes philosophy of those, like those advising Hoover and Friedman’s Chicago School, who have been repeatedly wrong?
And Your Point Is? “The public would happily accept higher levels of the neuro-poison for several more years in exchange for lower power bills next year.”
US and Them: In contrast to our hand-wringing over BP's desecration in the Gulf of Mexico, the US pretty well ignored the Bhopal disaster and has remained resolutely ignorant of the 10 million barrels of oil splashed around the Nigerian delta in our names. And we've offered neither cleanup nor compensation to the citizens who suffered for our sins.
Porn O'Graph: Down so long, looks like up...