- the Eurozone collapses as the EU continues to be a day late and a dollar short and refuses to take advice from Geithner and Obama
- Europe goes into recession, which leads us into a period of zero growth
- the developing nations see their growth slacken, as bubbles pop and exports to the US and Europe, now in recession, decline
- harvests in South America, Russia and the Ukraine, Australia, China and India are record or near record levels.
- commodity prices fall because demand from the developing world is depressed and supply has exploded.
- the farmland price bubble pops and many farmers find themselves overextended.
- with the US economy in a second recession, the deficit starts really to explode, making it impossible to pass a farm bill because the parties can't agree on anything.
Friday, November 25, 2011
What Lies Ahead
On Black Friday, let me be gloomy and forecast doom over the next few months and years: