There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it’s been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.

Daily Article from mises.org by Art Carden | Posted on 9/15/2008

The Huntsville Times reported on September 12 that, in response to the looming threat from Hurricane Ike, Alabama Governor Bob Riley declared a formal state of emergency. The governor’s declaration of emergency activated the state’s price-gouging law, which makes “unconscionable pricing” illegal during times of emergency. The Times quoted Riley as saying that he thinks “a threat to public health is a strong possibility due to the shortage of fuels.”
Hurricanes don’t cause shortages, however.
Price controls do.
A “shortage” occurs when the amount of a good demanded exceeds the amount of a …

Flickr user: Leo Reynolds
I’m putting this post under the ‘Fun’ category because it made me laugh when I read the statement from the CFO of the Thruway Authority. Read this short article that appeared in the Democrat and Chronice (and other NYS newspapers) recently:

Traffic drops by 2 million on Thruway; agency forced to cut costs
Joseph Spector • Albany bureau • August 27, 2008
ALBANY — High gasoline prices and a sluggish economy led to nearly 2 million fewer cars and trucks on the state Thruway in June and July compared with the same period in 2007, state records show.
“This …

Grand Illusion: Gas Prices Are NOT Going Up
YouTube
June 19, 2008

How to explain the oil price? Why is it so high? Are we running out? Are supplies disrupted, or is the high price a reflection of oil company greed or OPEC greed. Are Chavez and the Saudis conspiring against us?