On Sat, Nov 29, 2008 at 10:32 AM, Nick Arnett <[EMAIL PROTECTED]> wrote: > If free markets reliably regulate prices,
What exactly do you mean when you say "free markets reliably regulate prices"? > Surely neither supply nor demand changed much in such a short > time. I don't think there was any supply shock. But I have little doubt that demand decreased with the world-wide economic slowdown. > I suspect that what we've seen in oil, > housing and other bubbles is that we have created a system that amplifies > fear and greed. One thing I know is that I have reliably been able to fill up my tank wherever I have been in the US during the last year. Apparently the market is doing a decent job of coordinating tens of thousands of people to prospect for oil, extract the oil, transport the oil across the ocean, refine it to the appropriate regional codes, transport the gas to the stations, stock the gas, and dispense the gasoline I need for my car, all without me having to wait in line or search for a gas station that is not out of gas. That makes me happy. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
