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Monthly Archives: August 2011

The US Dep’t of Justice does not want you to rock…or at least not unless the wood furnishing your instruments was finished by the proper workers, in this case Indian workers.

Apparently, lacking any bigger fish to fry, the Dep’t of Justice along with the National Institute of EconoLOLs has raided two Gibson guitar factories, seizing expensive supplies of the wood that is used to craft their famous axes.  Citing the Lacey Act, which no one has ever read all the way through while remaining conscious, they nabbed Gibson redhanded in the gruesom act of…violating an amendment to the act which requires certain wood to be finshed by a certain group of people.  Article here.

Estimated cost to Gibson: $2-$3 million

Estimated benefit to society: Free econoLOLS

A professor of economics and econoLOLs at the University of Texas, Austin, issued this gem in last Sunday’s NY Times.  Literally, arguing in favor of economic protection for “ugly” people due to the disadvantage they inherently carry.  Unfortunately, it is not surprising to witness an irrational analysis such as this from an economics professor at an American university, where serious scientific study of economics has long since been replaced with a feel-good narrative.

If you can bring yourself to read the article, go here…

If you cannot allow your eyes to be exposed to the entire piece, then take a whiff of its contents…

“Why not offer legal protections to the ugly, as we do with racial, ethnic and religious minorities, women and handicapped individuals…Economic arguments for protecting the ugly are as strong as those for protecting some groups currently covered by legislation. So why not go ahead and expand protection to the looks-challenged?” 

At some point, an economics professor sat down at his desk and penned this article and at another point a NY Times editor thought it a good idea to publish it.  That is the biggest econoLOL of all here.

We’ll leave you with a pic of a somewhat successful businessman who relied on his good-looks…

EconoLOL has never been a fan of the Hamptons, not so much due to the stuffiness and general pretentiousness that the region breeds, but mostly because of the pilgrimage like journey it requires to travel there.  Had we known that our taxpayer money was going to subsidize the lavish vacation homes lining the coast, however, we’d have spent more time there, if only to point this out to the residents.

How it works:

Something called the “Federal Flood Program” subsidizes insurance policies for coastal homeowners (Hamptons, Malibu, Hyannisport, and other such poverty stricken areas).  Due to the great risk of building on coastlines prone to flood damage, the insurance premiums justifiably would be a costly expenditure, but thanks to this program, a few hundred dollars will do…the rest we collectively pay for.

With this incentive to build where there otherwise would be great risk associated, $645 billion in property is now guaranteed by the government.

A nice article on this depressing policy, here…

The “sophomore slump” is a term in music where a band makes a groundbreaking debut album, and the 2nd never really lives up to the hype/expectation, etc.

The NY Observer has an interesting article about this today: http://www.observer.com/2011/08/o-bummer-hipsters-o-bandon-obama/

Some econoLOLs there.  Art installations for Obama?  Yo La Tengo fundraiser?  We really LOL at “Obaminatrixes” – how can we meet one?

 

I wonder if hipsters are disillusioned at the % of funds sent to Washington chewed up in administrative waste…..ah, really, this post was an excuse to share this LOL picture: