Posted by Joseph Y. Calhoun, III

Politicians who pander to their campaign contributors - and that would be all of them - create programs to solve perceived problems and create more problems as a result. Farm subsidies are a prime example:
Ethanol is a new industry that owes its growth solely to Congressional action. Corn growers now get a subsidy of 51 [...]

Posted by Joseph Y. Calhoun, III

Based on the number of phone calls I’ve received today, it would seem an appropriate time to make a few comments about the markets. Obviously, the last few days have not been nice, but it must be kept in context. At the time I’m writing this, all that has happened is that the gains we [...]