It's Nobody's Fault

The aftermath, or at least middle-math, of the sub-prime debacle and resulting world-wide financial crisis has me puzzled. There's no question that our economy is FUBAR at the moment, and that the Federal Reserve, the congress (small C), and the president (even smaller p) are all flailing around trying to come up with an anti-recession or, god forbid, anti-depression pill. What has me puzzled is that none of these august authorities is crying out for a public hanging of whoever caused this mess - usually, public hangings are in order when a catastrophe of this magnitude occurs.

Some may say that the resignations of a handful of Wall Street CEO's and CEO's of lenders like Countrywide show that a price has been paid. I beg to differ. All these people made out like bandits while the sun was shining, and they've departed for their mansions and a life of leisure. Some punishment!

So, let's look at what really happened. Interest rates were brought down to very low levels following the 9/11 crisis, and they recovered very slowly to levels that never reached "normal". During this period, individuals could purchase homes at very favorable interest rates, so the builders built lots of new homes and speculators refurbed many more ("flip this house"). Then, lenders pumped demand even more by offering interest-only loans, adjustable-rate mortgages with very low initial rates, and "no paperwork" loans, the latter meaning that the borrower did not have to prove income sufficient to cover the mortgage payments. As demand exploded, home prices rose at a record pace. Finally, supply caught up with demand and the unqualified buyers started to have trouble paying their mortgages. The resulting foreclosures glutted the market, created a massive over-supply situation and drove home prices down dramatically, trapping many more regular people and speculators with property they could neither pay for nor sell. BOOM! But who caused it?

Some people think the real estate agents caused it by convincing people to buy homes or speculate on homes that were fundamentally over-priced. Some people think the lenders caused it by loaning money to people who could not pay. Some people think the financial institutions caused it by buying packages of these loans from Countrywide and everybody else, and then peddling the packages as "AAA" investments to unsuspecting buyers. Clearly, all these facets of the real estate industry were at fault. But, did they cause it? I think not.

I think our government caused it, by sins of omission - by failing to regulate the financing industry and thereby slow the runaway train of the real estate market. Neither the Federal Reserve, nor the congress, nor the administration - each of whom had powers sufficient to slow the runaway train - did their job. None of them wanted to be the bad guy when every person on the block was counting up the inflated value of their home, and when every facet of the real estate building and financing industry was earning record profits and paying lots of taxes. So, our government let the train run until it ran off the tracks and into a school full of kids, figuratively speaking. That's why nobody is to blame...it's "look into the mirror" time for the people who are supposed to be protecting our economy.

OK. I've put the blame where it belongs. So what? What does it matter? What can we do if the people we elected to protect us have failed? What if both the party of George Bush and the party of Hillary Clinton have failed us, which they have? What can we do?

Well, we can hope that the short term "get well" programs actually get us well - that is, preclude a deep recession or a depression. But, beyond that and more important than that, we must demand that our representatives fix the generic ills that we suffer from. If we think, for example, that the entitlement funding shortfalls are not even more dangerous than the sub-prime crisis, we are deluding ourselves. If we think that deficit budgets at the federal and state levels are OK, we are deluding ourselves. The fixes are simple in concept: we need to pay more if we want to keep existing benefit levels or the service levels that our governments currently provide. Or, we need to cut benefits or services. None of this is politically popular, and that is why none of the candidates are talking about doing any of it. Maybe this recent melt-down will scare them into reality, but the odds are not in our favor.

I get the feeling that the next big craze will be to move out of the U.S., put your money in commodities or other hard assets, and leave this country to fall on its figurative ass. After all, hordes of New Yorkers have moved south to avoid the high taxes and poor business conditions. Perhaps the next wave will head to protected enclaves of expat Americans in even more hospitable climes. Only the politicians can prevent this speculation from becoming a reality, so go out there and kick their butts!

Bush, Revisited.

My friend Ron of RWorld posted on Bush, expressing his dismay and publishing some statistics that show Bush's accomplishments pale in comparison to Clinton's. I started a comment, but it got so long I thought it better to just put it on my own blog. So, here goes!

It's about time we started talking about Bush again. And it's crazy that republican candidates other than Ron Paul haven't repudiated him because his administration will be totally in the toilet by November.

The latest fiasco is the financial debacle created by sub-prime loans and real estate speculation. This is an example of the "free market" at its worst.

The Bush administration and its regular contributors in the real estate, lending, and securities industries benefitted greatly from the hyper-activity in the real estate market. Sensible regulation could have slowed the inflation and limited the credit risk, but Bush and Co. had been bought by the high rollers. Now the American people, the great majority of whom had no part in any of this, are paying a huge price for the sins of a relatively few.

I have believed for a long time that America's greatest risk is its economy - not the damn terrorists. We can easily defeat ourselves from within by making poor economic decisions, and Bush has taken us well down that road.

When you add up the financial toll on our country from the Iraq war, the imprudent tax cuts (cut taxes when you are running big deficits?),and the sub-prime debacle, the Bush administration has been a financial disaster. I would also add many more billions in cost to our economy from risk premiums on oil caused by his inane saber-rattling.

I would give Bush credit only for attempting to legalize the immigrants who provide so much productivity and vigor to our economy - but his own party torched him!

Why in heck would anyone want to follow him in office? He's going to leave the biggest mess of anyone since Lyndon Johnson's Vietnam - an America in debt up to its eyeballs and verging on a big recession!

Thanks a lot, Mr. MBA (slept through classes) president!

Hillary!

I've kept a very open mind about Hillary. I have always felt that Bill was a really good moderate republican president, and he always said she was the smarter one of the two. And, I think I've lost most of my sexist tendencies over the years after working with lot of very effective women. But lately she's been turning me off, for two reasons.

First, she's really waffling about where she stands on the big issues. Ask her a question about where she stands, she starts describing her opponents' stands and then trashes them. Press her to reveal her own position and she starts babbling about "bi-partisan commissions". That is not leadership, it's just waffling. Leaders give answers.

Second, Hillary's played the race card with Obama and she didn't condemn that BET idiot's comment about Obama's drug use. The presidency has nothing to do with race, and Obama has appeared to know this from the start. Whoever you are, you've got to be president of all the people and show favoritism to none, even those who share your own background. Besides, I'm not sure what race Obama is, anyway. But Hillary let race talk get started,and she showed no class at all when she got caught.

My favorite presidents all put their cards on the table. In the last 100 years, TR, Franklin Roosevelt, and Truman stand out as real leaders. Bill Clinton had potential but his hormones did him in, probably later than he deserved. Most of the rest were OK, and our current bonehead will be remembered only for his monumental mistakes. Hillary may be smart, but she's not forthcoming enough to be classified as a leader. She may be just a policy wonk and back room bargainer.

I still wish Bloomberg would enter the race and force both the democrats and the republicans to show their cards on the big issues. None of the current candidates are really telling it like it is with respect to where America is and where it needs to go. At one time I thought Hillary might have what it takes, despite all the baggage she drags behind her and the hatred so many brainwashed conservatives will never let go of. Now I'm not so sure I'd even consider her.

Good People

You know, our country and the world are filled with problems caused by unthinking and uncaring humans. Sins of comission and omission. Wars, poverty, hate, greed, perverted sexuality ("using people"), profligate use of resources, you name it. One can become downright depressed by all the crap going on in the world. I would be one of those depresssed people, except that I know so many really good people.

I know people who work hard and make very good money, then turn around and give a whole lot of it away to people and groups who really need it. I know people who work all day, then volunteer on the ambulance and take an old lady with diarrhea to the hospital. I know someone who regularly visits a very bright younger woman who has cerebral palsy so bad that she uses a stick, attached to her forehead, to punch computer keys. I know someone who leaves her suburban house two days each week to work for free in a city school where she lets kids who may have head lice sit on her lap and listen to stories. And I know a lot more people like these good people. They give me hope. And the neat thing is that all of them are happy people.

What ugliness will the unthinking and uncaring people of the world need to commit before we are so grossed out that we say "enough" to those who create wars and poverty, foster hate, cruelty and perversion, and savage our planet? How empty must celebrities' lifestyles become for society to understand that we need pay no attention at all? Will the world get hopelessly out of control before we realize that good people are the answer? I'm perhaps unduly optimistic that humanity has a chance, because there are still plenty of good people around.

Don't get me wrong. I don't want a lot of laws and forced conformity. I want people to be free to get naked, say a swear word, or smoke a joint without going to jail. I want people to work hard in the hope they can live well, and I want lazy people to live low. I want the earth to be full of people who see possiblities rather than obstructions, and full of people who smile when someone "different" walks by. But I want to see hate, cruelty, exploitation and violence called out and named for what it is - poison for the world. Good people do good and call out the bad.

Thanks, good people, for giving me hope and inspiration. And, since there are so many of you folks around, I'm looking forward to meeting some more of you tomorrow.

"Chocolat"

It's a classic. It's beautifully filmed, has a luscious musical score, the cast and acting are first rate, and there's at least a couple worthwhile morals to the story. Oh, I almost forgot - she's hot! Juliette Binoche, I mean. And the Good Witch thinks the young Johnny Depp is worth watching, too.

We saved "Chocolat" from HBO-HD on our DVR the other night and just got around to watching it - again. If you've never seen it, do yourself a favor and find the DVD somewhere. If you have seen it before, I promise you will get into it even more the second time.

I'll just let it cool awhile before I enjoy the taste of "Chocolat" once again.

iPod Initiation

I have a history of staying somewhat close to the forefront of practical technology in the electronics genre, but I must confess that I completely missed the boat with iPod. My last portable music, I'm embarassed to admit, was a CD Walkman. All that changed on Christmas morning when, to my surprise, my three sons gave me an 80GB iPod Classic. It was empty, of course. Must fill it up!

This laptop just happened to have iTunes on it, and I had imported a few of my own CD's and purchased a few more tunes from Apple - so I didn't need to start from scratch. I started from scratch + a trivial amount of music. But I own a small mountain of CD's, so the giant import of the century began almost immediately and continues to this day. Fortunately, the end is in sight and the iPod will have about 7GB of tunes when I'm done.

All through this process I've been wondering if there would be a payoff to all the effort, and I'm happy to report that there is.

Previously, I found it difficult to sort through my CD's and choose a particular one to play on my stereo system. The CD's were stored here and there in little cabinets that each held about 40 of them. Now, they are all stored in this little black thing that I can hold in my hand. I just tap and spin, and - it's magic - all my tunes are there, sorted in any number of ways. I can take the time to choose, or I can listen in random fashion. No muss, no fuss. That's the magic of iPod. Thanks, boys, for a great present!

The bonus will be on my next long plane flight to Phoenix, when I plan to watch a full-length movie to kill the time. Pretty incredible, Mr. Jobs!

To all of you who are laughing your butts off at my belated iPod epiphany, I wholeheartedly agree that I deserve whatever ridicule you are dishing out. But I will not spring for an iPhone just to get back near the front of the wave. I'm so busy listening to my lost tunes that I can't be bothered by phone calls.

Plans for 2008

I won't be in bed, or partying, at midnight tonight. I'll be at the ambulance base waiting for someone to need me. I'm just a lowly EMT, but I've been out about 1,800 times now, so New Years Eve probably won't present me with anything I haven't seen yet - but you never know. Right now, as I listen to the New York Philharmonic's concert on PBS, I'm thinking about what I'd like to do next year.

It's hard for me to believe, but I'll be 64 in 2008. Fortunately, I've got good genes and am in pretty good shape, so my options are wide open - knock on wood. Yet my time is limited by many commitments, the primary one being the bookkeeping work I do for four different non-profits. I have to schedule everything else around their financial calendars, but that still leaves time for quite a lot. After all, as they used to say in the army, "there's 24 hours in a day", so maybe I can fit all of the activities below into 2008.

1. Start hitting the elliptical trainer and the weights hard for four months. I'll stay at 180 pounds, but the weight will move to all the right places. It's fun to see the kid muscles come back...so I can...

2. Hit the AT again, even though last year I vowed I was done after experiencing heat exhaustion. This year I'll go out in April and risk some cold days and nights in New York, Connecticut, and Massachusetts. Maybe Maine is still possible...

3. and when I get back from the AT, golf season will be starting. I finished last year at a USGA 13 handicap but wanted to get to 10. Now I've got new Mizuno irons, so perhaps those pesky greens will be easier to find on second shots.You've got to have a goal if you want to get better.

4. My three sons, three grandsons, and one granddaughter need to know their grandfather. I'll spend some quality time with them, with the bonus of traveling to Phoenix just when the Rochester winter seems like it will never end.

5. Good Witch and I will take at least three more "Teaching Company" courses. We've ordered "Great American Music: Broadway Musicals" by Professor Bill Messenger of the Peabody Institute of Music. (Come on, readers! Try one!)

6. I need to do a good job as Clerk of Session at Christ Clarion Presbyterian Church this year. It's not a power position, but I will be in the middle of some important tasks including finding a new permanent minister. I love my friends at Christ Clarion because they are quietly sincere about living their faith and so many of them have great talents. They inspire me.

7. I need to find a few more great authors. The more I read, the harder it is to find an interesting book. I just started "The Worst Hard Time", a non-fiction work about the families who rode out the 1930's Great Plains dust storm era. That won't last long. Any suggestions?

8. (A resolution I will likely break.) My home is now 30 years old, and even though it's had several major renovations and additions, it's getting shabby in a few places. This would be a great year for some major maintenance, but that's the activity that tends to fall to the bottom of the list. Maybe I'll have to hire some of the work out to professionals.

9. I'd like to improve my blogging style - get more creative, less preachy. Perhaps I need to improve my perception of daily life episodes that can be employed as springboards to more generalized commentary. Some of my blogger friends have real talent in this area.

10. I hope to continue treasuring each day, being sensitive to the needs of others, and remembering to thank that great power who made my consciousness possible.

Clerics - Maybe a Bad Idea

As I look at the world today and review the history that I've learned, I've begun to doubt the value of religious professionals. Overall, they seem to cause more problems than they solve, and their antics often seem to divert our attention from God. On balance, I think I prefer philosophers to those who wear garments that signify a special, "godly" status.

The underlying problem is that God is a mystery, an incredible being of some sort who is behind everything and has a purpose that we mortals will never truly understand while we live. Yet, at the same time I give much credence to the general conclusion of most religions that God wants to be recognized (honored) and wants creation to move in a positive direction, the latter idea being that God wants the creative potential in the universe to be achieved as far as possible without God's intervention. So, for example, it's bad for us to waste energy killing each other when we could be using that same energy to further everyone's well-being and creative potential. The Golden Rule is one of many positive concepts that seem to fit with this general idea.

Clerics, and their many "scriptures", most times seem to over-complexify and over-specify the "will of God" to the detriment of creation. Most of the hate in the world today seems to emanate from clerics pushing their own view of God's will and creating sub-groups that conflict with each other. Moreover, clerics seem to spend much of their time protecting their own special status vis a vis the rest of us. I'm tired of it, and it makes me profoundly sad. Jesus said "Love God, and your neighbor as yourself", and this thought pops up in religions, generally. Clerics seem to be the reason this does not happen in far too many instances, so perhaps they are more of a problem than a solution. Garry Will, in his recent book "What Jesus Meant" says much the same in more eloquent terms.

I think it's time for the status of clerics in general to be reduced. I'm not advocating the abolition of formal religion, but merely its simplification and the elimination of the priestly class's sub-deity status. Who can deny that these people are exactly like the rest of us, with all our strengths and weaknesses? They must be given the same level of scrutiny as the rest of us and be held accountable when they over-reach in speaking for God or expect respect based solely on their position in the ecclesiastical world. Some religions have made far more progress than others in achieving these goals, but Islam and Christianity seem to have a long way to go.

Does all this mean that I have a blanket antipathy for those who have chosen a professional religious occupation? Far from it. Many clerics in all religions have spoken the simple message of loving God and your neighbor, and they live in accordance with it. They don't claim any special status, and they tend to focus on positive directives that unite humanity rather than negative ones that divide it. However, I would fault even many of these people for allowing the structures of which they are a part to accomodate the incendiary and authoritarian clerics who so damage our world.

Formal religions, with their wonderful stories, seasons, festivals,times of reflection and penitence, and, most important, with their simple requirements, can do much to help us humans keep an eye on the ball. It's the leaders who we've got to be wary of and keep in check - otherwise, there is often hell to pay.

Democracy Beats Party Politics

Less than a year remains until the next national elections, thank God. I'm already sick of the incessant political crap from the politicians and the media. Republicans and Democrats alike are wasting my time with their petty concerns, waffling, and sucking up to their core constituents. None of them are focusing on the issues and talking truth. So why pay attention...is the election going to boil down to the lesser of two evils? Most likely, it will.

The republicans are banking on the tried and true politics of fear, greed, and ersatz religion. After seven disastrous years, why would anyone with a brain want to keep them? John McCain talks "straighter" than any of them, but if he was for real he would admit that the Iraq war was a terrible mistake at best. There's nobody there to vote for.

The democrats are out-doing each other in pandering to the unions and the lower classes. "Tax the rich", "grow the government", and "pay people more" seem to be their solutions to every problem. Not a one of them is asking anyone to do anything different or make any sacrifice needed for progress. There's nobody there to vote for, either.

The problem is that our party-based political system is broken. The parties are perfect targets for those with money or power, and they have both been corrupted beyond repair. Our democracy needs to be changed, and it's time for change. The internet is the perfect vehicle to accomplish this change, and perhaps its time will come when the American people realize they're being left out of the debate. A bit more direct democracy would revitalize the political process.

I'd like to see someone like Bloomberg run for the presidency on a promise to open up the democratic process. There's no reason why we should not have national initiatives and referendums on the big issues that politicians fear to touch.

What are the pro's and con's of the "war on drugs"? Do we want to continue it or legalize the stuff?

Should we have a "guest worker" program or a path to citizenship for illegal aliens?

Should Medicare pay for expensive operations on people with Alzheimers or dementia or terminal conditions? Do we want national health insurance?

Should all students have to stay in school until they graduate?

Let's find out what the people want rather than depend on 100 senators and 435 representatives to agree on laws that have been watered down so badly that they never seem to get the results they promise. That is, if they can agree on anything at all...

I'm thinking of becoming radicalized for democracy instead of lining up behind any of the special-interest-backed party candidates. We can do better as a country if we worry about specific issues rather than groupthink. It's past time for change.

The Deer Denoument

Hunting season is over. First, there's bow season, then shotgun season (no rifles in southern New York), then muzzleloader season. Altogether, about eight weeks of deer hunting time for some hunters, but only four weeks for me. I ended up with three deer, one of which went to Foodlink and two into my freezer. They were a nice big doe and two smaller "button bucks".

There's a big pot of vegetable soup with chunks of venison cooking on the stove right now, simmering in wait of Christmas Eve dinner. My son Kevin will take home a couple of roasts, some chunks, and some ground venison when he leaves after Christmas. We'll have plenty of venison chili and spagetti sauce for the next year, and a few crock pot roasts, too.

I figure I spent about 35 hours in the woods to get those deer, often in temperatures in the low 20's, and once it ranged from 11-18 degrees for five hours. I still have many little brush wounds from pushing through scrub where the deer hide, usually successfully. And I never saw a buck with antlers in all that time.

You might think deer are scarce in the country south of Rochester, New York. Wrong. They are everywhere. The roads are littered with deer that have lost battles with cars and trucks. There are deer tracks through the snow in virtually every yard of the suburbs, and you pass herds of them in the parks at sunset. Unfortunately, when winter comes early and we get a heavy snow cover, like this year, many of the deer may not make it to spring.

I talked to a woman this morning as she walked her dog down our snow-bordered street, and I mentioned my hunting outcome. She said, "Well, at least they got to roam the forest for their life, and not live in a feedlot waiting to be trucked to the slaughterhouse." First time I ever heard that kind of comment, and maybe there's something to it.

This year we saw several coyotes as we hunted. This is a new thing. The coyotes are breeding here because prey is plentiful - too many deer. Of course, the coyotes also eat all kinds of other wildlife and unfortunate house pets.

Years ago, getting a doe permit was an iffy sort of thing. There were many hunters and deer were scarce. Now, each hunter is allowed from two to four does in addition to a buck. But because there are many fewer hunters, the deer population continues to grow. At some point nature will take care of this problem by creating a deer disease or bringing a totally devastating winter. In the meantime, I'll do my part to keep nature in balance and put really fine meat in the freezer.

November, 2008 is coming. Look out, deer! I'll be back, I hope.

Steroids and Conservatives

Within the past day I've heard "conservatives" present two diametrically opposed opinions regarding the"steroids in baseball" scandal. The first was presented about 10:30 last night on our local "Clear Channel" 50,000 watt conservative mouthpiece, and the second was on NPR radio this morning. Can you guess which one was on which station?

Conservative "A" said that Bud Selig and Doug Fehr and just about everyone involved with baseball (including President Bush) has dodged the steroid problem since the mid-1990's. This speaker referenced Tony Guynn's and one other future hall-of-famer's concerns, voiced at that time, that performance-enhancing drugs were changing how baseball was played, cheapening records, and depreciating the value of players who didn't "juice". Conservative "A" opined that Selig, the owners, and the players union loved the fan interest and profits that resulted from the steroid-induced home run derby and oddities like the ancient Roger Clemens throwing 95 mph fastballs, so they all just looked the other way. "A" concluded with a statement that illegal immigration is wrong because it is lawbreaking, and steroid use by athletes is equally wrong because it gives unfair advantage in a competitive environment.

Conservative "B" said that the entire hubbub about steroids was much ado about nothing. "Who cares?", he said - not the owners, not the players, not the broadcasters, not the fans. They all loved the achievements of the "juiced" athletes, and that is all that matters. Those who are making a big deal of it are just goody-two-shoes types who don't understand the real world.

You've probably guessed correctly that Conservative "B" was on the Clear Channel station. That's the station that airs all the guys who believe that those with wealth and power should do whatever they have to do to keep their competitive advantage, fair or not. They hate the estate tax, they love Bush's raping of the constitution and his war of choice, and they will even switch their allegiance from a hard core Southern Baptist to a Mormon to a multiple divorcer if the candidate will buy into their "me first" agenda. "Law and order" is something that applies to other people.

This little "compare and constrast" exercise points out that there really are two entirely different types of people who call themselves conservatives. One type believes in a level playing field, one does not. One type believes that government should step in when egregious violations of public trust occur, one does not. Given all the illegalities that the "Conservative B's" have committed or tolerated in the past 13 years, I have a feeling that a lot of "Conservative A's" will be holding their nose and voting for a democrat next fall.

#@%&^**# Democrats!

Another $70 billion with no strings attached! I'm with ThomasLB on this one, and I had my dinner before I read the news, unfortunatly.

The democratic party is a bunch of gutless girly-girls (OOPS!). Actually, they're not even as gutty as gutless girly-girls. No showdown at the OK Corral here, they just roll over, willing to spend $70 billion and more in future Iraq installments while they wait for the next election to put them in power.

Politics trumps morality again...and what's another $70+ billion, except an exclamation point on the Bush deficit? THEY ARE STILL GUTLESS.

What Does Government Do Best?

What does government do best? Now, that's a loaded question, because most of us feel that government is often cumbersome and unresponsive. We individuals have very little influence on what government at any level really does. We simply continue to elect and re-elect public officials who, mostly, look at who elected them and try to perform the actions demanded by that group. And, we are often subjected to unelected bureaucrats who prefer their regulations to common sense.

But all in all, the results of the government process are not too bad. Our country is generally safe, the infrastructure works almost all the time, and we are pretty much free to say and do anything that doesn't inflict real harm on someone else. But, I think that what the government does best is a problem.

What government does best is say "yes" to its own perceived needs. Got a big constituency in the "red" states? A bloated farm bill will keep their allegiance. Got a military whose mission is grandiose, even when no other country can come close to matching us? Fund all the toys that the best military designers can conceive, whether they are "needed" or not. Got an island in Alaska that a few people can't get to conveniently? Build a bridge to nowhere. The biggest problem of government is one of resource allocation. It tries to satisfy everyone, and it taxes people to the maximum that they will accept. Any normal organization could never survive if it lived by this principle, but government is a different animal entirely.

A much smarter approach would be for the government to rank the country's needs in priority order, identify and fund an appropriate level of resources to each need in descending order, and stop funding when the tax revenue was exhausted. This would require quite an effort, since the U.S. government is the largest organization the world, by far. But it would be a worthy effort. Over time, our government has become bloated and inefficient, wasting a significant portion of its resources in "grandfathered" programs that should have been killed off years ago. The "sugar subsidy" is a prime example - a blatant slap at the free market economics that the current administration reveres publically but forgets when it comes to bankrolling its cronies.

Will government ever be run like a family, a business, a small town, or even a well-managed corporation? Probably not possible...but perhaps it would be wise for us to elect a hard-nosed president who could put a red pencil to the federal budget for a term or two. The country would likely be much better off when the carnage was over.

He Slept Thru Economics Class

I have to admit that my car radio pre-sets only have to have NPR and Air America (or whatever it is), since that's all I listen to while driving.

Today on one of these stations I heard Iowans (?) questioning presidential candidate John Edwards at some kind of open forum. A male questioner made a little speech about gas prices, and then stated the conspiracy theory that many share with him: "the automakers have technology that would deliver 50 miles per gallon in an SUV but they have conspired with oil companies to suppress it."

John Edwards didn't react directly to the questioner's speech, probably because he didn't want to call the guy a nutcase in public. But, since this is my blog, I can say directly to this guy, "You slept thru economics class, bonehead!"

So, you ask, do I have inside information about auto companies and oil companies? No, I don't. I can't prove they haven't conspired to bury some magical technology. Why, then, am I so sure this guy is a bonehead?

The answer is simple. A technology that would enable a 50 mpg SUV is worth more bilions of dollars than I can imagine. It's the holy grail of technology. It's the invention that would enshrine the inventor aside Thomas Edison and Albert Einstein. It's the dream of every chemical and mechanical engineer in the world, and it's the dream of every smaller car company. Can you imagine what the patent on such a device would be worth? It's incalculable! And that's why this guy is a bonehead.

The simple answer of economics is that things of great value are sought by many very smart people and many powerful organizations, and, once discoved, cannot be hidden for long. It's extremely likely that if such a techology existed it would have been "discovered" multiple times already, and if it was, then everyone associated with each "discovery" would have to be dead. Have you heard about any mass killings or disappearances of chemical or mechanical engineers?

It's convenient to blame the gas prices on a conspiracy, but it would be smarter to learn the law of supply and demand as it applies to both oil and the American dollar. This poor Iowan must have slept thru economics class.