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.

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.