Comments on: CBOT soybeans go ballistic; rains plague U.S. harvest http://blogs.reuters.com/commodity-corner/2008/09/14/cbot-soybeans-go-ballistic-rains-plague-us-harvest/ Views on commodities and energy Sat, 18 May 2013 15:01:10 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: James http://blogs.reuters.com/commodity-corner/2008/09/14/cbot-soybeans-go-ballistic-rains-plague-us-harvest/comment-page-1/#comment-335131 James Sun, 14 Sep 2008 21:36:12 +0000 http://blogs.reuters.com/commodity-corner/2008/09/14/cbot-soybeans-go-ballistic-rains-plague-us-harvest/#comment-335131 The intense rain from Hurrican Ike is causing a loss of electric power in Houston and Galveston to 4 million people and 42% of United States Refinery capacity. This will likely cause Gasoline prices to continue to soar, as they are up 12 cent per gallon in the last two days alone. The Federal Reserve Board at this weeks meeting will likely be forced to reduce the Fed Funds Rate by 1.5% so as to provide GM and Ford the same low interest rates that their Japanese competitors get, thereby obviating the need for the U. S. Congress to bail out GM and Ford; also thereby providing the necessary low cost Money Supply to bail out the U. S. Economy which Alan Greenspan today characterized as a "one-hundred-year crisis". LOOK TO IT, despite the vehement objections of Inflation Hawks Stern, Plosser, and Fisher !! The intense rain from Hurrican Ike is causing a loss of electric power in Houston and Galveston to 4 million people and 42% of United States Refinery capacity. This will likely cause Gasoline prices to continue to soar, as they are up 12 cent per gallon in the last two days alone.

The Federal Reserve Board at this weeks meeting will likely be forced to reduce the Fed Funds Rate by 1.5% so as to provide GM and Ford the same low interest rates that their Japanese competitors get, thereby obviating the need for the U. S. Congress to bail out GM and Ford; also thereby providing the necessary low cost Money Supply to bail out the U. S. Economy which Alan Greenspan today characterized as a “one-hundred-year crisis”.

LOOK TO IT, despite the vehement objections of Inflation Hawks Stern, Plosser, and Fisher !!

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