[bogosity-podcast]https://bogosity.podbean.com/mf/web/3b5t2d/BogosityPodcast-8-29-2011.mp3[/bogosity-podcast]
News of the Bogus:
- Three Arrested for Selling Lemonade on 'Lemonade Freedom Day' http://blogs.ocweekly.com/stickaforkinit/2011/08/lemonade_freedom_day.php
- Coralville Police Shutdown Several Children's Lemonade Stands http://www.kcrg.com/news/local/Coralville-Police-Shutdown-Several-Childrens-Lemonade-Stands-126592563.html
- Portland lemonade stand runs into health inspectors, needs $120 license to operate http://www.oregonlive.com/portland/index.ssf/2010/08/portland_lemonade_stand_runs_i.html
- Setting free the lemonade stands. Really? http://www.pressdemocrat.com/article/20110819/WIRE/110819465/1070/opinion?p=1&tc=pg&tc=ar
- Obama White House Loses Secret Service Shield on Records http://www.sunshinestatenews.com/story/barack-obama-white-house-loses-secret-service-shield-records
- JW Beats Obama in Court on WH Visitor Logs http://www.judicialwatch.org/weeklyupdate/2011/33-jw-beats-obama-court-wh-visitor-logs#anchor1
- Skyway could be torn down if ridership doesn’t improve—in next 25 years http://jacksonville.com/news/florida/2011-08-26/story/skyway-could-be-torn-down-if-ridership-doesnt-improve-next-25-years#ixzz1WA3jDM7X
Biggest Bogon Emitter: The Florida Sheriffs Association http://www.flsheriffs.org/newsroom/entry/media-statement-on-libertarian-party-and-tsa
- Libertarians Call On Florida Sheriffs To Arrest TSA Agents http://www.libertyflorida.org/?p=808
Idiot Extraordinaire: Paul Krugman http://krugman.blogs.nytimes.com/2011/08/25/irregular-economics/
- Keynesian Economics vs. Regular Economics http://online.wsj.com/article/SB10001424053111903596904576516412073445854.html?mod=WSJ_Opinion_LEFTTopOpinion
- Dubya's Double Dip? http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html
- Ron Paul on the Housing Bubble – July 2002 http://www.ronpaul.com/2008-09-26/ron-paul-on-the-housing-bubble-july-2002/
- Early Stimulus Worries http://krugman.blogs.nytimes.com/2011/08/22/early-stimulus-worries/
This week's quote: “Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order.” —F.A. Hayek
As usual, great commentary Shane.
Wow, Esther really seems to like the taste of the bureaucrat balls she has in her mouth. Seriously, does she get off on this shit? People defying their corporate masters seems to be a real turn off for her though.
Also Keynesian economics are the homeopathy of economics.
Speaking of TSA, I just got back from Vegas a few days ago, on the way back I was selected to go through that chamber thing (x-ray?). Is there some indicator on the boarding pass that indicates that you are to go through the chamber, or is just a random process?
Also with the price of an item increasing would that be more indication of decrease supply and increases demand? For some reason it sounds like you are stating the Ticke me Elmo doll backwards. That or I am simply looking at the item during its craze, eventually supply will increase and demand will decrease.
I KNEW I remembered this back in the back of my head somewhere! Another example demonstrating an upward-sloping supply curve that Krugman apparently just couldn't find:
http://www.nytimes.com/1993/07/21/business/business-technology-memory-chip-prices-surge.html
QuotePrices of computer memory chips have doubled in the last week, reflecting fears that world supplies may soon dwindle because of a fire at a Japanese factory that makes an important ingredient.
The largest United States makers of semiconductors and personal computers said yesterday that they had hefty inventories and were not immediately worried about a potential disruption. But small companies that manufacture only a few dozen personal computers daily, and must constantly look for parts, report the fastest rise in memory chip prices they have ever seen.
Early last week, for instance, a module of three chips with 1 megabyte of memory cost dealers about $33. Yesterday, the price ranged from $65 to $72, a survey of five distributors found.
Again, this ONLY makes sense with an upward-sloping supply curve.
Kiri, sorry I missed your post before: the initial craze was a rise in demand, but the solution to the craze was an increase in price and stepped-up production, which again can only happen if the supply curve is upward-sloping.
Maybe Krugman just needs me to write his textbooks for him...or anyone else who actually lives in the real world and pays a modicum of attention.
Just wanted to give a quick update on the Skyway. At the beginning of the year the city made it free to ride to increase membership. Can't find anything in the local newspaper site but a report on the local news yesterday said that the skyway actually has seen decrease in ridership from last year.
Wow, they can't even give it away!