Yessiree Bob, Gee-Golly-Willikers, what we are seeing with the Gulf well blowout is simply the (almost) unfettered "market economy" at work.
Yessiree, those engineers will EVENTUALLY get it right -- if oceans and (by extension) people die -- it's just "the market" at work.
Now, all the "teabagger" folks in Louisiana, Alabama, Texas, Mississippi, and Florida are DEMANDING, I say DEMANDING The Federal Government step in and make it all better.
Where are their "states rights" creds?
Or, is the cry of "States Rights" just code for, "keep those black and brown folks 'in their place'."?
Where is Governor Bobby Jindal, once the "future of the Republican Party"?
Where is he?
Well, he's DEMANDING federal help, demanding MORE federal help, and even MORE etc., etc., etc.
It seems all the "SMALL-Government-States-Rights-PRO-GOD-GUNS-and-ANTI-GAYS-the-guy -in-the White-House-is-a-Communist-Socialist-Nazi-Kenyan-Illegal-Alien-etc., etc., etc." crap goes away when your entire economy is at risk because ONE CORPORATION FUCKED UP!
Now, the very same, "keep your government out of my state, pockets, etc." folks are YELLING about all the help the GOV'T MUST give them. Don't they trust the "Almighty Market", aided by the "Omnipotent Hand of God" to actually work? Are they afraid that by the time it DOES work, they will all have died untimely deaths? Are they frightened by the fact their coastlines will not "recover" for many, many, years? Does the fact most European Countries that have underwater drilling have far more stringent regulations still rankle as "Government Meddling"?
Will we ever learn?
Update: Business Cycles and Markets - For fun ... recently we've seen another recession call for 2015, this time from the Jerome Levy Forecasting Center (following their an incorrect recession ...
4 hours ago