Scientific theories progress over time – as new knowledge comes to light. See for instance, evolution. Of course, what the headline really means by “evolution theory” is that caricature of what science continues to revise, which we all tacitly understand: “This is not questioning the idea at all of evolution; it is refining some of the specific points, this is a great example of what science does and religion doesn’t do. It’s a continous (em>sic) self-testing process.” Cults, on the other hand, continue to try and hammer the proverbial square peg into the round hole – in a constant (and losing) battle to fit “reality” into their antediluvian ideologies.

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Also, through the competitive miracle of “competition,” it seems that the Whole Foods monopoly fiasco is economically moot. “[The nation’s largest food retailer,] Kroger, Wal-Mart Stores Inc. and other major grocery sellers have been increasing selections of organic and natural foods in response to rising demand and the growth of chains such as Whole Foods Market Inc. and Wild Oats Markets Inc.” Which just goes to show that the “market” for a particular good or service is almost never as narrowly defined as people think. The law, on the other hand, might disagree. With near unanimous ignorance of economics, the entire history of American anti-trust legislation has been an abysmal failure.

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Should the Federal Government offer a bailout to people who are having financial difficulties because of a decline in the housing market? I say “no.” So does W, for whatever that’s worth. There’s no reason to subsidize bad decision making, bad borrowing, bad lending, or bad investing. That is how the market works – bad decisions must be corrected, and resources must be reallocated. Any attempt to delay, or stop an impending correction will only prolong (and generally worsen) the inevitable downturn. Also, it’s a problem of equity: what about the people who have weathered the storm? If you’ve made your mortgage payments on time, shouldn’t you get a little extra help, too? If your investments in RMBS took a nose dive, shouldn’t you get some help? I’d like to buy a house soon – can I count on the Fed to assist me in that endeavor? You shouldn’t, and I don’t.

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I’m having trouble accessing The Wall Street Journal tonight. Hopefully it will be fixed soon – although since they’ve extended my online membership after my subscription lapsed, for free, I can’t really complain. But consider this a complaint.

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I’ve been busy with production at work this week, also house and car shopping. I hope to be back to normal, sooner rather than later.