Ever wonder why supermarkets don’t have an enormous excess supply of such things as bread and butter? Usually, the amount they have is about right. That’s because market signals and disciplines discourage waste, so supply meets demand. A New York Times story this past weekend on ethanol shows what happens when government artificially creates demand. Government mandates have produced a massive oversupply of this politically selected fuel, raising corn and food prices and creating a logistical nightmare when it comes to managing it all. Of course, the proposed Washington “solution” is yet more government generated demand! Expect more price hikes and more waste.