Archive for 2010

DEFLATION? Consumer prices dip for second straight month. “It marked the biggest decline since consumer prices plunged 0.7 percent in December 2008. That was a period when the worst recession since the 1930s stoked fears of deflation. The country didn’t get stuck in a deflationary spiral then, and probably won’t now, economists say.” Plus this: “Prices for education and prescription drugs each increased 0.3 percent — categories that are up sharply over the past year. Prices for airline fares jumped 1.9 percent last month, while prices for tobacco and other smoking products rose 1.3 percent, the most in nearly a year.”

UPDATE: Reader Paul Jurkoic writes:

I’m sure that whatever happens, it’ll be “unexpected.”

Heh. Indeed.

TIMOTHY DALRYMPLE: Is the Tea Party a “Social Justice” Movement? “The irony is that one cannot exclude the Tea Party from the social justice category without betraying that ‘social justice’ is a partisan political theory.”

SHADY MANEUVERING: An Offer BP Couldn’t Refuse. “Last night on CNN former Clinton Administration message man James Carville said: ‘It looks as if President Obama applied a little old-school Chicago persuasion to the oil executives.’ Making ‘offers you can’t refuse’ may be a great way to run the mob, but it is no way to run a country.” I agree. Let BP fail if its liabilities exceed its assets — don’t turn it into a government-controlled slush fund.

At the Financial Times it is observed that oil has become the new tobacco. But note that all the vilification of tobacco companies was really just about extracting a settlement that let greedy politicians get their hands on a stream of tobacco cash — which was then not spent as the politicians had promised.

UPDATE: A Tolkien analogy.

JOBLESS CLAIMS RISE: Unexpectedly!

CONTAINING THE OIL SPILL by flooding the Gulf? “The U.S. Army Corps of Engineers is considering a plan, proposed by scientists, to use dams to divert more water toward the mouth of the Mississippi River, which could keep the BP oil slick from penetrating the vulnerable coastal wetlands.”

PHOTO: Charlie Crist’s powers of observation.

UPDATE: Reader Mark Linder writes: “Someone should let the Governor know that it’s not baby oil he should be looking for.”