A Bubble--Yes

So says the economist in this agweb article.

Unlike the early 80's, the developing world is still growing and providing more demand.

$2.75 Corn? A Bubble?

Did we have a land bubble? Agweb has an article saying get ready for $2.75 corn.  I find by searching on this site I was forecasting a land bubble in 2007 and again in 2011.  Guess I got tired of being wrong and have kept quiet since.  A reminder if any were needed of how difficult it is to make economic predictions.

How Paperwork Grows--Good Intentions and Bad Architecture

Congress doesn't want federal money going to corporations involved with committing felonies or evading taxes.  That makes sense, doesn't it?

Well, notice CM-737 shows what happens down in the bureaucracy.  USDA comes up with a form which corporation officers have to sign every year, which places another burden on the county office clerk, and the corporation officers, recognizing that 100 percent of the corporations have to sign, but probably only 1 percent at maxium are actually involved in crime or tax evasion.

Now in a rational world, the bureaucracy which is nearest to the determinations of felony/tax evasion (presumably DOJ) would be responsible for flagging the corporation's records (i.d. tax ID) and all federal payments would bounce against a Do Not Pay database, which would include these flags.  But that would require a unitary federal bureaucracy, and the American people in their wisdom have decided to favor freedom over efficiency.  As long as we're willing to pay the price, we're democratic after all.

Ben Franklin on Lead

My father had to switch from chemical engineering to farming because of lead poisoning, so this letter by Ben Franklin, in a post at Boston 1775, is of particular interest.  The old bureaucrat was one of the smartest men ever.

The Difference a Year Makes: Corn Prices and Farm Bill

Corn prices look very different now than last year, so the provisions of the draft farm bills in House and Senate are attracting scrutiny, as in this Politico article.

The Greatest Generation: Stupid or Ill-informed?

The Edge of the American West doesn't frame it as I do in my title, but I think the post supports the frame--the issue is whether knowledge of geography and history are helpful.

We're Bloodsuckers, Not Farmers?

From Chris Blattman, I think, the Harvard Atlas of Economic Complexity, which purports to show the imports and exports of countries around the world.  I say "purports" because I don't really understand it, except the link gives a graphic showing US exports by category in 2010.  Major items are labeled, so "soybeans" is a nice gold block with ".87%" in its corner, which I assume means soybean exports accounts for that much of total exports.  Fine and dandy.  I get the idea.

But wait, down in the left hand corner there's this pinkish purple block which is labeled "Human or animal blood" and it's got "1%" in its corner.

Is Harvard really trying to tell me that we suck that much blood out of ourselves and our animals to ship off to whom? Blood is more valuable than soybeans?  Where are the world's vampires who are importing that blood?  Someone needs to get on this story, which has been totally unreported until now.

Volatility--the Farmer's Enemy

A paragraph from today's Farm Policy:

"Meanwhile, an update yesterday at The Wall Street Journal Online indicated that the cash price for corn (No. 2 yellow. Cent. Ill. bu-BP) on Tuesday was 4.1850; a year ago it was 7.2200."

 The ease with which farm prices can change is a fact often missed by those outside the farm world.  There's not too many commodities out there where the price can drop, or rise, as fast as corn just did.

Colorado and Rainwater

I was surprised to learn that collecting rainwater in Colorado is mostly illegal.  (Hat tip: Life on a Colorado Farm.)  I knew the West had different laws on water than in the East, but not this.

Failure To Launch [Website] Successfully

New guidelines for treating people at risk for heart attack or stroke released today.  That's a subject near and dear to my head and heart, so naturally I went to the new calculator website  
to see how I rated.  Oops--apparently they've a problem (too much traffic perhaps).