Ethanol - The Hoax of All Hoaxes by Paul R. Hollrah

The New York Times headline for June 16, 2007 proclaimed, “Cost of Gas (sic) and Food Rose Sharply Last Month.”

The article by Jeremy W. Peters went on to report that the core rate of inflation, which excludes food and energy prices, was up just 0.1 percent during the month of May, while the overall rate of inflation, including food and energy, was up 0.7 percent.

Peters tells us, “Prices for staple household purchases like gasoline and food rose to even higher levels (in May), effectively causing most Americans to take a pay cut. After taking inflation into account, the average weekly earnings for workers in non-management jobs – some 80 percent of the work force – fell for the second consecutive month in May.”

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