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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: John Carragher who wrote (78063)4/20/2008 4:39:12 PM
From: Elroy Jetson  Read Replies (3) of 116555
 
The commodity bubble is primarily a result of George W. Bush's wacky "ethanol program" which last year used 40% of the U.S. corn crop and likely 50% of this year's crop.

This usage is 16% of the world harvest last year and 20% of the harvest this year. Bush blames this on poor people eating more, as do those who idolize Bush like elmatador.

The drought in Australia, China, and India is not helpful, but there's almost always a drought each year in some location. This is another masterpiece of bad planning.

As with each prior commodity bubble, prices will eventually collapse as supply increases. This will leave a wave of bankrupt farmers in it's wake around the world.

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