I May Not Know Much About Economics, But I Still Know More than Tony Blankley

Let's say you play the same numbers every week in the Lotto. So I buy a ticket with your numbers for one dollar, then offer it to you for two dollars. After all, by next week it could be worth millions.

So you buy it. I made one dollar in profit, and you bought a chance at a fortune for only two dollars

Tony Blankley, like most Republicans, thinks that's "the free market at work." He thinks we just "created wealth."

Yes. But only for me. In a few days, you will almost certainly be stuck with a worthless slip of paper. Sure I doubled my money, but how many times will I be able to run this scam on you before you're fed up? And if I'm running this game to the tune of a hundred or a thousand tickets a week, won't I eventually run out of suckers?

Regulation of the financial industry doesn't hobble businesses, it protects them. From themselves.

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When TV is Out of Order... Literally

Today Fox Reality Channel showed 40 minutes of one episode of Hell's Kitchen, then 20 minutes of another. Such a weird mistake, I couldn't believe things like this could still happen with todays technology. Which reminded me of NBC's legendary 1978 snafu, when part three of the Loose Change miniseries ran on night two. Here is the announcement that aired that night... awkward, to say the least.

At least NBC apologized. Fox Reality either didn't notice, or hoped we wouldn't.