<Oil Price Poll 3 The Oil Drum Community Solution Conference, Sept 22-24, Still Time to Register!>
<DrumBeat: September 16, 2006 DrumBeat DrumBeat: September 18, 2006>

83 comments on DrumBeat: September 17, 2006

Comments can no longer be added to this story.

Leanan on September 17, 2006 - 8:59am Permalink | Subthread | Comments top
CNN Headline News has been running a Bill Schneider segment this weekend called "Gas and the GOP." About how public concern about energy prices is dropping along with gas prices, and how this will benefit the GOP in the November elections.  

It features an "oil industry critic" named Tyson Slocum, who argues that the reason the price of oil is dropping is because the recent bipartisan investigation of prices has scared all the speculators out of the market.

Comments can no longer be added to this story.
elwoodelmore on September 17, 2006 - 9:33am Permalink | Subthread | Parent | Comments top
it sounds to me like slocum = hocum
Comments can no longer be added to this story.
elwoodelmore on September 17, 2006 - 9:35am Permalink | Subthread | Parent | Comments top
no matter what the markets do  stocks bonds futures    there is always an expert around who has an explaination
Comments can no longer be added to this story.
roel on September 17, 2006 - 10:09am Permalink | Subthread | Parent | Comments top
That's the beauty of economics. It's all about getting the lingo and the slogans right (empty terms like market fundamentals). Like the weather forecast, if you're right half the time, you're doing great. Makes you a useless dud in Vegas, but never mind that.

There's also the religious element in economics, you can always refer to a higher and highly complex mechanism full of unforeseeable factors. In the end, supply and demand will even everything out. If they don't, the market doesn't function properly, and must be changed. Not the principle.

God loves all children.
So why does he let them die in misery?
We cannot understand the unlimited wisdom of the mind of God.
So how do you know he loves all children?

Comments can no longer be added to this story.
step back on September 17, 2006 - 12:29pm Permalink | Subthread | Parent | Comments top
It's all about getting the lingo and the slogans right (empty terms like market fundamentals). ---the beauty of "economics"

I wish it were that simple.
The formal study of Economics is full of code words, words that trigger certain psychological responses of confusion and feelings of inferiority. Once you allow yourself to fall into the framework, you are trapped into a dizzing spin zone of your own making.

What does "market" mean?
What are the "fundamentals"?
And heavens if you cannot understand the "fundamentals", how do you stand a chance of understanding the market "complexities"? Best to leave it to the "experts" who are there to assure you every day that the "fundamentals" are "good", that "The Economy" is "strong". And if he is not feeling that well this morning, rest assure that Mr. Economy will be "recovering" soon and getting healthier by the minute.

Comments can no longer be added to this story.
mikeB on September 17, 2006 - 7:35pm Permalink | Subthread | Parent | Comments top
It's exactly like Freudianism, Jungianism, "post-modern" literary analysis, and assorted pseudo-sciences: obfuscate, obfuscate, obfuscate.

As Big Daddy said:

"If you've got to use language like that about a thing, it's ninety-proof bull and I ain't buying any."

Comments can no longer be added to this story.

83 comments on DrumBeat: September 17, 2006

Comments can no longer be added to this story.