Cool and Level-headed

This is the first time I've seen a MSM article which clearly points out the broken window fallacy with regards to Katrina.

“Everybody falls into that same fallacy all the time on just about everything,” said Bob McTeer, former president of the Dallas branch of the Federal Reserve and a fan of Bastiat’s work. “They look at what is happening without looking what would have happened.”

Simply take the broken window example to its logical extreme: If every window in town were broken there would be plenty of work for glaziers but few resources for other projects like building new houses or shops.

Kudos for pointing out the "dismal" forecasters and scientists.