DOWN with biofuels

[fabsroman]

Who knows how they came up with that number. They definitely didn't try to explain it. They just assume that we will take it as gospel. They did mention that the price of beef went up because the price of feed went up.

Also, who knows how the middlemen, etc. determine what they are going to sell something for. If a farmer is initially selling a bushel of corn for $1.00 and now he is selling it for $1.65 (i.e., a 65% increase), the middlemen and retailer might just tack on another percentage to that price to sell the item. Now, because the farmer raised his price by 65%, it will be passed along to the final product. On the other hand, if the middlemen, etc. use a fixed profit amount per item, then this is a lot of crap. However, who knows how they figured this out. All I know is that the 30 year mortgage rate average is at 6.75%, inflation is still on the rise, the FED is talking about possibly raising interest rates again to stop inflation, and investors are trembling.