Mideast Turmoil and the Corn Ethanol Connection

By: Steve Maley (Diary)  |  February 28th at 11:24 PM  | 

Could ethanol-driven food price increases be at the root of recent unrest in Egypt and the greater Middle East? An article by Robert Bryce in the Energy Tribune explores the connection between the Iowa Presidential Caucuses, ethanol subsidies, and the rising tide of discontent: Biofuels Driving Up Food Prices As Iowa Primary Approaches This year, the US corn ethanol sector will consume 40 percent of | Read More »

AP Headline: ‘Higher jobless rates could be the new normal’

By: Steve Maley (Diary)  |  October 20th at 03:00 PM  | 

To a capitalist, the words “It’s different this time” are a notorious red flag. They’re usually uttered in the midst of a speculative boom, to explain why this boom is different from the last one that went disastrously bust. In a market driven by capitalist rules (supply & demand, creative destruction), they’re nearly always wrong. But in a centrally-planned system, where the government picks winners | Read More »