Embedded in a NY Times story about buying TV sets this season is this capsule statement of why the market, not the Fed, not the Congress, not a federal czardom, knows best:

“There was the assumption that fewer 32-inch LCD TVs would be sold,” said Bob Perry, Panasonic’s senior vice president for marketing, “but more were sold and that drove down prices.”

Econ 101, folks.  It’s why the best motto for a president facing economic decline (apart from “cut the taxes”) is “Don’t just do something, stand there.”

(Hat-tip News Alert.)