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January 07, 2009



Wait, wait, wait. One of us doesn't understand supply and demand. If there's no shortage and no surplus, then the supply and demand are balanced.

Rooney seems to be talking about something more like "the price of pain," how much you CAN charge for something before you lose too many customers. That's plain old profiteering, which I respect as a market force, but it's unfair to confuse it with supply and demand.

Frankly, I hope he's wrong. I don't care how much it costs yuppies to fill the tank of their SUVs, but low fuel costs encourage people to run businesses. That's much better for the economy than people borrowing money from banks or buying junk at the mall.

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