Whole lotta shakin goin\' on

Actually just a gentle reminder that those of us on the West Coast of the U.S. have our own type of natural disasters to deal with. Initial estimate was 5.8, USGS now rates it as a magnitude 6.0 quake. The epicenter was in the most heavily instrumented piece of land in the world. Siesmologists have been waiting for a 6.0 earthquake there for the last 16 years. The good news is that there are no reported deaths and minimal damge.

Speaking of reminders, Don Boudreaux at Cafe Hayek links to Tyler Cowen at Marginal Revolution, both of whom remind the folks at USA Today and Economy.com that destruction of existing wealth does not help the economy. Let me say that again - destroying wealth does not make us richer. Perhaps the economists that continue with this nonsense should lead the economic recovery by burning down their own homes.

BTW, I'm not bothering to link to economy.com since they are in the business of providing economic research and data. If they can't grasp such a simple concept, how can their products be useful?

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