Wednesday, February 12, 2014

Dissecting the Mumbo-Jumbo Machine Meme of Economics (#MJMMOE)

Many a pundit in economics would like you to believe:
Gee whiz, Mr. Wilson it works just like a mechanical machine.

Of course that is pure mumbo jumbo.

But where does the mumbo jumbo hide?
That will be the focus of this dissection.

Let's start with the proposition that all "transactions" are the same.
Are they?

When Mr. Farmer agrees to swap his 40 acres of wheat for 1000 barrels of Mr. Drake's oil production, is that the same as ...

When Mr. H. I. Broker agrees to sell an HI policy to Mr. S. M. Broker in exchange for 1000 shares of Enron corp.?
(HI=Health Insurance, SM= Stock Market)

Wednesday, February 5, 2014

Frenzied Feeding on Joyous New Delusion (#FFOJND)

"The cancer appears to be in remission."

"You mean Doc, you mean ... I'm cured?"

Tears and overwhelming bubbles of joy pour from your eyes, flooding out those tiny canals in the back of your ears. The health clinician mumbles something in the form of a hedge rejoinder. You hear it not.

Why this fabulous new news means I can take that planned vacation trip to Paris, you think.
No need to rush on about putting my affairs in order.
Technology has saved me. I have tomorrow and all the days after to worry about the little things. First things first. Celebrate and sing Hallelujah 'ore the joyous news.

(Caption under top picture reads: "Captain, about that large fin tracking us from behind, do you think we're going to need a bigger boat?"

American Energy Independence
As you may have guessed, this post is not about "technology" saving a happy patient from the ravages of a creeping cancer. It's about the new fracking technology supposedly saving us from the dread shadow of "Peak Oil".

Our politicians are near giddy with themselves about the good news. Hallelujah we are saved. Fracking changes everything. Now we have a cornucopian over-abundance of "energy" that we need to start thinking immediately about exporting to Paris France and the rest of the world so that we can truly "enjoy" our new blessed bounty!

Senate Holds Hearing on Reversing Crude Oil Export Ban

Duh dumb,
Duh dumb,
Duh duh, duh duh, dadda dumb!

Some sobering "Insight" truths about Frackotopia can be found here.

More down under reality math here.

The gateway bridge to Paradise might be a well intentioned road to that other destination.