Long standing readers of TBP know I like to try to slip in a lesson or two. The humor and money making market commentary is used as a device to keep you coming back and learning, despite yourself.
Today, I require no pretense for the edumacation. Instead, I will demonstrate one of my favorite peeves, the folly of Confusing Correlation with Causation, and I wll use but a single chart.
Courtesy of Overthinking It, those of you unfamiliar with the Correlation/Causation distinction will learn one of 2 things: Either the lack of really good modern rock songs recently is causing oil production to falter, or conversely, why peak oil has given us Boy Bands, Madonna, and Clearchannel Radio.
Those of you who understand causation can merely smile . . .
You can see Crude Oil Production really took a dive after Dark Side of the Moon . . .
The Hubbert Peak Theory of Rock, or, Why We’re All Out of Good Songs
Overthinking It, September 23rd, 2008
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.