Facts about The killing of Osama Bin Laden:
1) Fugitive for 19 years. Hunted by Saudi Arabia , Interpol, Scotland Yard, Mossad, and the CIA.
2) CIA was looking for him for last 14 years. Found him twice and lost him twice. Cost $1.8 Billion
3) CIA had 4 directors over this time period, 1997- 2011. All failed to capture Bin Laden.
4) Obama appoints Leon Panetta son of Italian immigrants as new CIA director April 28th, 2011
5) Mr. Panetta calls in a few favors from friends in New York , New Jersey and Las Vegas on April 29th 2011.
6) They plan a raid over some espresso and cannolis April 30th, 2011. Decide to dress as Navy Seals.
7) Bin Laden is killed (not captured or held for trial) and the body is dumped at sea May 1, 2011.
(also known as “swimming with the fishes” in Italian folklore)
8) Job done in less then 100 hours: Reward $25,000,000
9) Estimated savings of not having a trial $200,000,000.
10) Shop Italian
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Scarcity, Opportunity Cost and Competition impact our decision-making moment to moment. This makes economics the basis of life as we know it, after God. Nothing that people value is free, someone pays the cost. To gain that thing of value, scarce resources are given up and cannot be given up again for a different thing of value. And we all are competing to capture those scarce resources.
Friday, July 22, 2011
Justice, Italiano style.
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Share your unique economics experiences. What did you have to give up to gain that which at the moment seemed so necessary to you? Imperfect information spanked you and now diminishing marginal utility smacks you upside the head, eh?