Wonks on The Economy and The Climate
Hale Stewart at BOPNews tries his hand at screaming at thick-headed market analysts (i.e. Larry "I just say what they tell me to say" Kudlow):
However -- for anyone that has been paying attention to the markets, Larry (don’t you always say you trust the market to do the right thing? Then why the hell aren’t you looking at any of the energy charts?) you will notice a pattern in energy prices: they are increasing really fast. Prices are in what is referred to as an uptrend. These aren’t 4-5% increases, Larry. These are really big price moves.His original emphasis.
Now, I have an idea, Larry. Why don’t we find a substitute for oil that we can use instead – something cheaper. I’m waiting Larry. I’m still waiting Larry. Can’t find something to use instead, Larry? THAT’S BECAUSE THERE ARE NO SUBSTITUTES FOR OIL, LARRY. DUH!!!!!!! – YOU JACKASS.
Newberry also has a rather interesting yet oblique post on climate change and how policy wonks, game theorists, and other non-scientists have apparently taken the lead on predicting a future that has arrived in everyone's minds but their own. I started watching the CATO Institute's video on Global Warming: The State of the Debate, and though I didn't finish, my first impression suggests that, yes indeed, these people only approximate scientists.
Conclusion: No substitutes for oil. And no one has found a substitute for science, either.
Update: For other economic analyses, Big Gav points to Puplava's Financial Sense (synopsis: no Plan B) and Jerome provides a rather bleak roundup.