Last week's WSJ had an interesting story that provided more proof that (a) environmentalists are truly ignorant (or arrogantly uncaring) of the impact of their fanatical policies, and (b) governmental programs really do not consider the welfare of the people as an objective to promote - contrary to the preamble of the US Constitution.
"The U. S. has succeeded in cutting back acid rain. But that's presenting an unexpected problem for farmers in the Corn Belt of the Midwest. For years, farmers didn't have to worry about adding sulfur to their fields. Before power plants added scrubbers and federal regulators cut the amount of sulfur permitted in diesel fuel, the nutrient literally fell from the sky." For free, I might add.
The decline in sulfur deposition is hurting corn crop yields by as much as 15 bushels per acre, which is a lot considering that the average yield is about 150-160 bushels per acre. So farmers have to go out and buy sulfur to add as fertilizer. There are shortages more and more shortages are emerging.
So the consumer pays twice: first in higher costs for his electricity and diesel fuel, and then again in the cost of sulfur fertilizer for food. Doesn't this resemble digging a hole and filling it up again? Guess what ? This nonsense ADDS to GDP. Sighhh ....
And another so-called "pollutant" is really beneficial to plant life in moderation. Just like carbon dioxide, I might add.
PS: The WSJ search capability is really crappy. I tore out the paper article this weekend from one of last week's paper editions and saved it for this post. Then this morning I tried to find it online so I could avoid manually typing the quotes. But the search couldn't find the story online with any of the key words. That newspaper is really declining in utility.
Doing nothing. Europe and US futures are down. The market needs a breather to consolidate and move stock to stronger hands.
PPS: Why does gettting a Nobel Prize in economics cause a professor to think he's become an expert on financial markets and all related matters ?
Word of the Day
"Lascivious" - adjective [$10]
Lascivious means lewd, lustful
Sentence: I had heard tales of the lascivious nature of Catherine the Great, Empress of Russia, but never saw a documented account until I read of her torrid affair with a Polish nobleman later to become King of Poland in an excellent, well-researched biography of Thaddeus Kosciusko, the Polish patriot who helped the US gain freedom in the Revolutionary war.
"Iuvare" - verb, first conjugation
Iuvare means to help, assist, aid
Sententia: Audaces fortuna iuvat.
Sentence: Fortune helps the bold.