02.28.08
bloomberg in no-8
mike bloomberg is not going to run for president this year. i think it’s a shame when anyone who might represent a new option for a group of people decide not to avail themselves, regardless of their political leanings. (”i’m not running for president, but . . .” nytimes.com; february 28, 2008)
where is iraq?
does anybody else find it journalistically irresponsible that roger clemens supplants iraq on the front page of newspapers of supposed repute?
02.21.08
expensive loafing
the price of wheat has roughly doubled in one year. is this the product of rapidly increasing world-wide demand? yes and no . . . apparently pushing for this magic ethanol to save our gas-guzzling souls, we’ve set off some serious consequences.
Ethanol is the dominant reason for this year’s increase in grain prices. It accounts for the rise in the price of maize because the federal government has in practice waded into the market to mop up about one-third of America’s corn harvest. A big expansion of the ethanol programme in 2005 explains why maize prices started rising in the first place.
Ethanol accounts for some of the rise in the prices of other crops and foods too. Partly this is because maize is fed to animals, which are now more expensive to rear. Partly it is because America’s farmers, eager to take advantage of the biofuels bonanza, went all out to produce maize this year, planting it on land previously devoted to wheat and soyabeans. This year America’s maize harvest will be a jaw-dropping 335m tonnes, beating last year’s by more than a quarter. The increase has been achieved partly at the expense of other food crops.
This year the overall decline in stockpiles of all cereals will be about 53m tonnes—a very rough indication of by how much demand is outstripping supply. The increase in the amount of American maize going just to ethanol is about 30m tonnes. In other words, the demands of America’s ethanol programme alone account for over half the world’s unmet need for cereals. Without that programme, food prices would not be rising anything like as quickly as they have been. According to the World Bank, the grain needed to fill up an SUV would feed a person for a year.
America’s ethanol programme is a product of government subsidies. There are more than 200 different kinds, as well as a 54 cents-a-gallon tariff on imported ethanol. That keeps out greener Brazilian ethanol, which is made from sugar rather than maize. Federal subsidies alone cost $7 billion a year (equal to around $1.90 a gallon).
["food prices: cheap no more"; the economist; 12.06.07]
but we can’t blame subsidies for everything, as much as the libertarian elves (no not those elves) in my head want to want to finger those unnatural manipulators. according to some other analysts, speculation in commodities could provide a considerable upward push to such prices, now and in the future:
As falling interest rates, tumbling stockmarkets and contracting house prices drive investors out of bonds, equities and property, the argument runs, there is lots of money looking for a new home. And since commodities have produced such lavish returns in recent years, and have weathered the recent turmoil relatively unscathed, they are an alluring option.
. . . Citigroup believes that the recent rise in the oil price “is driven principally by a sharp uptick in fund flows.” Lombard Street Research sees an “iron bubble”. Others worry that America’s fiscal stimulus may cause trouble by inflating demand for commodities. In Citigroup’s cheery phrase, “the collapse of one bubble often sows the seeds of the next.
["commodities: pumped up"; the economist; 02.21.08]
meanwhile . . . 130 miles above the pacific: we be blowin’ stuff out of the sky. spectacular displays of official accuracy and technological advancement, of course, but why does it remind me of the highway signs along rt. 50 riddled with bullet-holes {which in turn invites imagery of a three-quarter finished jack daniels bottle, a pair of six-shooters, and a car not going the speed recommended by the unfortunate sign.}
i wonder if this is a collectable
i was in my basement the other day looking for something and i found this near my collection of baseball cards:
{i heard he was an all-star three years in a row until a tragic hop-scotch accident ended his career}
02.11.08
what did everyone give up for lent?
perhaps punditry?
i heard “facebook” out there.
maybe i should give up lunatic conspiracy theories . . . so agrees the sister.
postcards from awesomeland
02.09.08
still looking for the crazy chicken
las vegas, nv | are all flights to vegas filled with gold chain wearing partypoker high rollers and balding overweight older men?
the place is built on busted hopes and dreams. “even the bums think they’re something”
and who the fuck is danny gans?
the american west | one big meth lab?
is that a hasid or a cowboy in front of us?
nevada | why are there bullet holes in all of the road signs?
there is a non-negligible greek population in ely, nv. who knew?
awesomeland (aka california) | the mid-to-late-afternoon thing always does it for me
mario trees, seagrass (or whatever you call it)
stars, hearts, hands, smiley faces, and peace signs on license plates
and schools that look like big mexican restaurants.
chasing hills,
and damn good tacos y burritos.
