==> In Noah Smith’s absence, he has a claque of lesser men (and women) blogging at his site. This guy, Peter Dorman, not only failed to acknowledge The Great Debt Debate of 2012 in his initial post, but he dismissed Nick Rowe’s futile attempts to educate him in the comments. (Oh, notice Gene Callahan et al.: This guy was certainly not taking the line that “yes the present generation can impoverish our grandkids in the OLG way using debt, but that has nothing to do with the debt per se.” Nope, he was shaking his head at the stupidity of anybody who thought there was any sense in which people alive today could live at the expense of people not yet born.)
==> On the other hand–and to Noah’s credit–Josiah Neeley is a modern day Jeremiah, preaching Niall Ferguson to the children of Keynes. Really, Neeley couldn’t have tried to defuse the situation any better than he did; he was funny and even self-deprecating, admitting he had been wrong on the euro just as Krugman had been. You can see what his humility and candor got him in the comments.
==> Peter Klein draws our attention to Bruce Bartlett’s even-handed discussion of those advocating a Treasury default. After reading this, I’m so glad I never posted my idea for a compromise in which the federal government only honors 3/5 of its bonds.
==> This fun Netflix customer service experience (sic) happened to my friend. He posted it on Facebook, ha ha that’s great Norman, and then next thing you know it’s on HuffPo.
==> This stuff about the Renewable Fuel Standard is even more absurd than you might expect from the feds:
The American Fuel & Petrochemical Manufacturers (AFPM) and the American Petroleum Institute (API) have filed lawsuits with the D.C. Circuit Court challenging EPA’s unrealistic 2013 cellulosic biofuel requirement under the Renewable Fuel Standard (RFS)—requirements that were released nine months late.
This year’s cellulosic mandate requires refiners to blend 6 million gallons into the nation’s fuel supply, but cellulosic ethanol remains essentially nonexistent. The actual amount of cellulosic ethanol available to refiners so far this year is closer to 142,000 gallons, far from the EPA’s 6 million gallon mandate. Despite the disparity between the mandate and reality, refiners are forced to pay fines for not meeting the requirements.