... The book is also a thoroughgoing effort to displace older but still powerful neoclassical economic orthodoxies.

... But the book is also a serious warning to all who would approach the realities of economic life with the simple categories and nostrums of yesteryear. That warning caused immediate controversy, then fell by the wayside in the 1970s and after, as proponents of promarket, small-government, antiregulation, and low-tax policies gained the political initiative. Now, though, it is arguable that The New Industrial State has the tinge of prophecy.

LONDON (Reuters) - A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said on Thursday.

Some of the world's leading oil producers and market analysts say the weak dollar is a key factor spurring many dollar-denominated commodities -- including oil -- to record highs, pushing the cost of living higher across the world.

It is rare for the United States government to say anything about the greenback beyond its mantra that it believes in a strong dollar, but developed nations are ramping up the rhetoric in an effort to get oil producers to increase supply and help tame inflation.

Don't blame us.  It's hard work, you know, being an imperial power and all.

Somewhere in cyberspace, the ghost of de Chardin is smiling.

Oil prices near $146 a barrel for 1st time ever The Associated Press - Related articles »

Dow Average's Drop Into Bear Market May Signal Losses (Update1) Bloomberg - Related articles »

Paulson: no quick fix for oil price The Associated Press - Related articles »

'Bankruptcy' fear hits GM shares BBC News - Related articles »

Saudi minister: Oil customers satisfied BusinessWeek - Related articles »

Good grief.  It's gone now, but that was the center column of Google Finance when I opened it a few minutes ago.  Is that just a faint whiff of panic I smell?

Somewhere in cyberspace, the ghost of de Chardin is smiling.

Run everywhere, win everywhere.  It's amazing how long it took to convince the party of that.

I just woke up, and we've already got an open thread!  Yeesh.

WHEEEEEEEEEEEEEEEEEEEEE!!

(video included)

... all progress depends on the unreasonable mensch.
(apologies to G.B. Shaw)

and from south of the tracks...

Beppe Grillo's Blog

I'm publishing the letter sent to me by Antonio Di Pietro

Dear Beppe,
There are moments in the life of the nations when the citizens have to make choices. Moments in which it's no longer possible to pretend that nothing is happening and continue to believe that in the end, nothing really will change. The laws that are continually being proposed by the new government are an attack on democracy. If they are passed, the regime will win and democracy will be the loser for an indefinite period of time. It is enough to manipulate information and thanks to this, to get elected to Parliament. Then to make laws against the Constitution, against the independence of the magistracy, against the security of the citizens, against the freedom of information. One law after another.
What distinguishes a prime minister of a democracy from a dictator? The true distinctive feature is the absolute impunity of the dictator. When Silvio Berlusconi has achieved that, Italy will be in all ways a dictatorship. What's surprising is that authoritative opinion leaders have given credit to Silvio Berlusconi with qualities of a statesman and it's surprising how a part of the opposition itself has believed it to be possible to start up a dialogue with him on the reform of the institutions. Berlusconi's history speaks for itself. His numerous trials, the conviction of his lawyer, Cesare Previti, for the corruption of judges for Mondadori, his membership of the P2, the abusive occupation of the frequencies on the part of Rete 4. The list is endless as are the damages suffered because of him by our country. Above all, I'm referring to the extinguishing of the civic conscience, of the morale and of ethics. As a devastating example that Berlusconi has offered to the nation and to the young generations over almost 20 years, an example of his impunity. A situation similar to that where the village lads in the South admire the local mafia or camorra person.
Today, 27 June 2008, the Council of Ministers approved the DDL to guarantee the impunity of the top positions in the State while they are in office, so that they thus become more equal than the citizens before the law. In the last few weeks, laws have been presented by the government for which the definition of "shameful" is not sufficient. It is more correct to call them subversive and criminal as they undermine the basis of the State and are in favour of delinquents.
The suspension of trials for a year means the avoidance of the possible conviction of Berlusconi in the Mills trial in Milan.
Another one hundred thousand trials will be blocked for crimes that range from rape, to fraud, to the kidnapping of minors. The security of the citizens, so much discussed during the election campaign by Berlusconi and the Lega, is sacrificed to the interests of the President of the Council. The prohibition on publishing the intercepts once they have been deposited in the tribunal and available to the two sides in the case, and thus in fact already public, would have prevented us from knowing about Parmalat or about the local wide-boys.
The journalist who publishes the intercepts would end up in prison, his publisher would close down and the one who has committed the crime would not have to respond to public opinion.
With this law, in the United States there would not have been Watergate and Nixon would not have resigned. Italia dei Valori will propose a handful of referenda to repeal these laws against democracy and if necessary it will promote actions of civil disobedience like the publication of judicial acts. No one can stand and look any longer.
On 8 July in Rome at 6:00pm in Piazza Navona, at the same time as the approval of the law on intercepts, Italia dei Valori together with leaders of civil society are having a demonstration for the freedom of information and for justice." Antonio Di Pietro

How is this NOT heaven?

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

I finally managed to grab a couple different kinds of Rogue brews after being tricked into an adventure to Trader Joe's.

WHEEEEEEEEEEEEEEEEEEEEE!!