Gaga Versus A Glut of Goods

Yes, I know that I'm more than a little obsessed

But really, it's not what you think
Lady Gaga holds no fascination for me
but Economics does

Linked by Instapundit, the Lady Gaga Economy

The Lady Gaga phenomenon conquered the Today Show this morning, with what must have been the largest crowd they’ve had in their summer concert series.
In the convoluted way things occur to me, I thought of the contrast between our limping general economy, and her thriving fame-monster micro-economy.

Say’s Law in economics is the proposition that supply creates its own demand. A relative overproduction of certain goods may occur, implying that too many scarce inputs have gone into the production of unwanted items relative to inputs for desired goods. But general overproduction — to which demand stimulus would allegedly provide relief — is not the core economic problem.


Right now, there’s lots of demand for Lady Gaga, say; but maybe too many houses, cars for sale, and hokey Internet startups.

So let me see if I get this right, what he's really saying is that we need more Gaga and less goods.
That just can't be good

Happy Friday everyone
And to my blogger friends who've been sweltering in the heat wave from Canada to France, I wish you cool breezes and plenty of ice for your drinks this weekend.

How To Handle the Recession - Riga Style

Global rebound anemic: Roubini
SAO PAULO (Reuters) - Advanced economies face years of anemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday.
A sovereign debt crisis in the euro zone has rattled financial markets in recent weeks as investors worry that fiscal austerity measures dictated by a $1 trillion European Union-International Monetary Fund rescue plan could stifle already hobbled global growth.

So what can you do when the news is bad and it is just so ugly out there...well in true European fashion you can always take to the streets as these luscious Latvian blonde barbies did.
Latvia blondes hold festival to beat recession blues

Hundreds of blonde Latvian women have been marching through the capital Riga to try to bolster the national spirit in time of recession.
Most of the participants dressed in pink and wore high heels.
The blonde parade began last year and was planned as a one-off but it is back by popular demand and is now a two-day festival.
Latvia has been hit badly by recession. Its economy shrank by 18% in 2009 and it has Europe's highest unemployment.

Yeah, those blonde babes really know how to rip it up in Riga!

Marika Gederte, president of the Latvian Association of Blondes, told the BBC the idea came out of the economic gloom.
"I was so tired, you know, every day opening the computer and reading the newspapers and just reading about problems. We decided... let's do something nice. And I asked myself the question: what can I do for my country? And this is what I did... We are very proud to be blonde."

Proud to be blonde? She's got to be kidding.
Obviously she has having a 'blonde moment" when she said that.
No wonder we have so many blonde jokes.

On a plane flight from Seattle to Chicago, a blonde was sitting in economy class. About half way through the flight, she got up and moved to an empty seat in first class. A flight attendant who observed this, went over to her and politely explained that she had to move back to economy class because that was what her ticket was for. The blonde replied, "I'm blonde, I'm beautiful, I'm going to Chicago and I'm staying right here."

After several attempts to explain to the blonde why she had to return to economy class, the flight attendant gave up. She went to the cockpit and explained the situation to the pilot and co-pilot. The co-pilot said, "Let me try." He went up to the blonde and politely tried to explain to her why she needed to return to her seat in economy class.

But the blonde only replied, "I'm blonde, I'm beautiful, I'm going to Chicago and I'm staying right here." Frustrated, the co-pilot returned to the cockpit. He suggested that perhaps they should have the airline call the police and have her arrested when they land.

"Wait a minute," said the pilot. "Did you say she's blonde? I can handle this. My wife is a blonde. I speak Blonde." So he went up to the woman sitting in first class and whispered something in her ear.
"I'm sorry," said the blonde, and she promptly got up and returned to her seat in economy class.

"What did you say to her?" ask the astonished flight attendant and co-pilot.
To which the pilot replied, "I just told her that first class isn't going to Chicago."

Happy Monday

Lusting After Lower Heels

From the Wall Street Journal

Stilettos—So Two Years Ago
The return of the 'kitten' coincides with shaky economic times

so do serious times call for serious shoes?

That leads some to speculate whether there's a relationship between a sinking heel and the stock market. Gary Loveman, CEO of Harrah's Entertainment Inc., was reported saying earlier this year that he likes seeing women wearing stilettos in his casinos because he believes it means guests are more likely to spend more.

on the other hand

But not everyone thinks the kitten heel means bad times. Shorter shoes might be "an indication of the recession we've just been through," suggests Jeffrey Hirsch, editor of the Stock Trader's Almanac, adding that such correlations have "not so much" validity anymore.

Good market, bad market, I don't care. But enough already with the 6 inch stilettos.