Someone who should know told me the other day that the federal government should sell oil futures short, perhaps thereby driving prices down. The worst that could happen, he explained, is that prices would not fall, but would rise, and the government would have to cover by buying at a higher price than it sold. This the government could afford (unlike individuals or even big trading firms). The best scenario is that if there is a price bubble it would pop, prices would fall, the government would make money by buying oil at a lower price than it had sold, and consumers would be better off.

Is this a good idea?

More generally, what are the ways and means, if any, by which the government should try to pop bubbles, whether dot.com or real estate or commodities? Seems as if we ought to know by now.

I'm holding a contest: in 100 words or less compare two Arizonans nominated for President: Goldwater and (presumably) McCain.

Goldwater, as you can recall or look up, ran on the slogan "In your heart you know he's right." This was supposed to link his rightwingedness to correct positions on issues, and also to signify that the liberal or New Deal consensus, while hard to reject in most circles, was no longer valid.

The common riposte was "In your guts you know he's nuts."

So compare away, please. The winning prize: helping Obama, who is quite obviously sane, temperate, articulate, consistent, and just the sort of person who ought to be commander in chief, get elected President.