Now That's What I Call Progress!

Gail Collins reminds us that things are always getting better:

"There was a time when, if people got worried about the way things were going, they would throw a virgin off the side of a cliff. Now they just kill a politician. And only metaphorically! Is this a great country, or what?"

Time to fix the answer key

A lot of unusual things have happened in our economy over the past year, and sometimes it feels like the old rules don't apply anymore. The people who write the questions for the Foreign Service Exam, however, haven't seemed to notice (via NPR's Planet Money):

I recently bought the foreign service exam study guide since I am taking the test this Friday. The test consists of, among other things, basic economics questions. I was so amused by one of the sample questions that I just had to share:
All of the following are examples of United States products that would typically fail to be produced to optimal output without government intervention EXCEPT:
A. national defense products.
B. light provided by lighthouses.
C. new automobiles.
D. new highways.

And in the answer section:

C. This is the correct answer. Automobiles are not a public good. Optimal production of automobiles is related to the demand for them by individual consumers.

Just so you know, that's not what the kids are calling it these days

People don't like paying taxes. I get that. I don't like paying taxes either. And it drives me crazy when the government uses its revenue for things other than public goods and providing a social safety net (ie agricultural subsidies). But I think we're going to look back in 20 years and realize that we're not undergoing the kind of radical change that some people fear.

This is all by way of saying that if you do feel that Obama's new tax proposals are onerous and a substantial and unprecedented violation of your liberty, you're not alone. Hundreds, if not multiple hundreds, of people across the country are holding gatherings in the spirit of the Boston Tea Party to let the government know how they feel:

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In case you didn't know, "teabagging" refers to a sexual act. If you don't want people to make fun of you, don't call your get-togethers "teabagging parties". Some people may get the wrong idea.

And the debate goes on...

Hopefully, for my sake, economists will not suffer the same fate as the dinosaurs:

(HT: Greg Mankiw)

An ode to Paul Krugman

I just started a new job, so I haven't had a lot of time to post. But this definitely caught my attention:

For what it's worth, I think Tim Geithner is a very nice looking man.

If you want guys* to be romantic, make them a graph

*Guys like me, that is.

Courtesy of Flowing Data, the terrific blog on data visualization, the following chart shows what kind of gift you should get your wife/girlfriend/friend-with-benefits/chick whose bed you woke up in for Valentine's Day:

I fall under the "You've been fishing with her Dad" and "Barista/Assistant Regional Manager" categories, so I'm on the hook for a Tiffany bracelet. I got my fiancee an iPod, so I guess that will do.

Statistics Humor

For anyone who thinks it can't be done:


(HT: Andrew Gelman)

The 12 Days of Bailouts

Courtesy of Economix:



Anyone else sick of Christmas music yet?

Jokes about the Financial Crisis

Here are some jokes about the financial crisis, courtesy of Calculated Risk:

• I went to the ATM this morning and it said "insufficient funds"...I'm wondering is it them or me?
• With the current market turmoil, what's the easiest way to make a small fortune? Start off with a large one.
• How do you define optimism? A banker who irons five shirts on a Sunday
  

The funniest one is actually in the comments section:
"This is worse than a divorce. I've lost half my net worth and I still have a wife."

HT: Marginal Revolution

If you don't laugh you cry...

For the lighter side of the financial crisis, check out "Sad Guys on the Trading Floor". This one is my favorite:

Thank god this man’s head was there to deflect the market upward.