Thursday, September 07, 2006

Lawyers, Referees, and... Economists?

So gas is down to 2.69 at a few gas stations around here, reaching a low since God knows when.

Do economists really have a fucking clue as to how the economy works? I thought gas prices were supposed to go up because of the 'hurricane' season??? And at this point, from what little I know - the academics are in agreement that we're past Hubbert's Peak... so there's only going to be declining oil reserves from here on out. Supply and demand would tend to say that would increase prices.

How disgusting does it have to be to go to school for that long, and then get out in the real world, and despite all your newfound knowledge... watch the market and economy go up and down, up and down... and you still have no control over it? The Fed raises interest rates to try to slow down economic growth ( which to a layperson sounds stupid when you say it outloud ) - and lowers 'em to spur growth.

What really cracks me up is when the market is affected by things that haven't happened yet. Like when the market people know that the Fed is meeting in a week. The market bobs up and down like a Clinton intern because the Fed MIGHT do something to the interest rates. Or like the aforementioned gas prices. "Oh no!! It's hurricane season... and even though it hasn't happened yet, lets RAISE prices, in case we get hit by one!!"

WTF is that? Ford Motor company MIGHT have a massive fire at one of their production plants. They don't raise the prices of their cars during the dry season, on the off chance they lose production capabilities from one of their plants.

I said it before, it's amazing we've made it this far. Cuz the older I get, I'm pretty sure we have no fucking clue what we're doing around here.


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