Monday, October 27, 2008

New York Times backs Obama

"After two years of a gruelling campaign, senator Barack Obama has proven that he is the right choice for president. Mr Obama has met challenge after challenge, growing as a leader and putting real flesh on his promises of hope and change. He has shown a cool head and sound judgment. We believe he has the will and the ability to forge the broad political consensus needed to solve this nation's problems. At the same time, senator John McCain has retreated even farther to the fringe of politics, running a campaign on partisan division, class warfare and even hints of racism. His policies and worldview are mired in the past. His choice of a running mate so clearly unfit for office was a final act of opportunism and bad judgment that eclipsed his 26 years in congress."

Monday, October 20, 2008

Pork and Beans

"Im'ma do the things that I wanna do
I ain't got a thing to prove to you
I'll eat my candy with the pork and beans
Excuse my manners if I make a scene
I ain't gonna wear the clothes that you like
I'm fine and dandy with the me inside
One look in the mirror and i'm tickled pink
I don't give a hoot about what you think."

Weezer

Sunday, October 19, 2008

Why markets are left to run on their own

"While markets coordinated by price movements – “capitalism” as it is called – may seem like a simple thing, markets are misunderstood more often than some other things that are considered more complex. Although a free market economic system is sometimes called a profit system, it is in reality a profit-and-loss system – and the losses are equally important for the efficiency of the economy, because losses tell producers what to stop producing. Without really knowing why consumers like one set of features rather than another, producers automatically produce more of what earns a profit and less of what is losing money. That amounts to producing what the consumers want and stopping the production of what they don’t want. Although the producers are only looking out for themselves and their companies’ bottom line, nevertheless from the standpoint of the economy as a whole the society is using its scarce resources more efficiently because decisions are guided by prices."

Thomas Sowell