Krugman's Cloudy Crystal Ball

The Bizarro Oracle, Paul Krugman, strikes again.  In his latest column he notes rising prices of oil and other commodities and makes a prediction:

"So what are the implications of the recent rise in commodity prices? It is, as I said, a sign that we’re living in a finite world, one in which resource constraints are becoming increasingly binding. This won’t bring an end to economic growth, let alone a descent into Mad Max-style collapse. It will require that we gradually change the way we live, adapting our economy and our lifestyles to the reality of more expensive resources."

Now, I haven't an Economics Nobel, but I'm pretty sure I learned in Econ 101 that while demand drives up prices, high prices lead to an increase in supply -- which may take the form of substitute goods.  Krugman elides past the best example of this with respect to energy: oil from shale.  He also neglects to mention the enormous natural gas reserves discovered in recent years.

I suspect that what's at work is here is less prediction than wish.  Krugman, like others on the left, hope we give up on challenges like our energy needs and just make do with less.  I call it an aesthetic of shared misery.

"Lone Star" Was Drek

OK, so I only watched the first half of one episode, but it stank.  Did not care what happened to any of the characters.  And I'm from Texas, and know a lot of oil men, and have run across a few con men in my law practice.

So, I'm unsurprised by the cancellation, but a little surprised by the few news pieces I saw on the show not mentioning how bad it was but instead blaming the audience.  Typical critical arrogance.

Newsflash.  Better either give the viewers someone they can like -- and boyish good looks but may be ambiguous about being a criminal isn't enough -- or make it really interesting.  I.e., Weeds wherein everyone is odious but at least unusual.

Starcraft II Beta

I played. I liked it. But, I... can't... win... a... game.

I'm buying it anyway.

AP Headline Sebelius June 11, 2010

"Sebelius stumps for anti-childhood obesity plan"

Sounds like the Dems are infringing Swift's intellectual property.

Yes, the grammar police are on duty.