EVALUATING RISKS IS NOT THE SAME THING AS MANUFACTURING THEM. Take a day off to go to the air show and the story of a sting to smoke out terrorists surfaces. A bipartisan coalition of economically illiterate Members of Congress trashed the futures market in terrorist events. The ever-alert InstaPundit has roundups here and here. The American Mind offers a bit of economic analysis (if you wanted to forecast conditions over an entire summer, would you consult the National Weather Service or futures prices in May?) and additional links.

The air show was worth the day missed from the internet. Great weather, got my fill of barnstormer loops, hammerhead turns, and ten snap-rolls on the vertical axis downward. Sufficiently many vintage jets have been restored that they are a show in themselves within the war-bird fly-pasts, but there's nothing to match the sound of a formation of P-51s. Show organizers recognized that this is still a country at war. The conclusion of the war-bird fly-past was a minute of silence, Taps, and a perfectly-executed "Missing Man" formation at the end of Taps.

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