Of Speculative Bubbles, the Crisis in Finance, Corn & Ethanol

A two decade-long period of unbridled money supply growth and use of leverage is now coming to a painful, and what’s likely to be protracted, end, bringing with it prices of just about every type of financial or physical asset in existence, including key agricultural commodities such as corn. That’s likely to change the face of the US ethanol industry, or at least possibly provide even more impetus to develp second generation biofuels.