Ethanol

There was an interesting conversation I was having w/ The Wanderer, starting with the validity of economic forecasts, moving on to oil prices and finally ending w/ my triad against Ethanol (corn). Don't get me wrong, it isn't that I am anti green, just that my reasons for going greener are different from the much touted global warming. I would like us to use more fuel efficient vehicles to break the economic blockade the OPEC and other oil producing nations have imposed on our GDP and current account deficit.

There was an interesting article in Business week last week on the great ethanol scam, and while I wasn't too enthused about the writer's telling of the story by reciting people who had suspect problems w/ ethanol in their gas mix (much like those chain letters asking you to forward the email to 10 other people or suffer the consequences), the science behind the article is worth the read.

While on the topic of economics, what is the story with CA? Those bozos in the legislative assembly took upwards of 100 days to come up with a budget proposal, of which about $6 odd Billion was put to the ballot today. There seems to be a massive voter backlash against 5 of the main measures on the slate today, and if the backlash is carried through by actual votes, then expect the law makers to either have to come up with new proposal to balance the budget in way less time than their prior attempt, or go begging bowl in hand to Tommy G. In either case it is going to be bad but in the second, CA will have to give up some of its sovereignty in return for Fed help. Now that would be a shocker!