Finance

“It Was Like Watching a Train Wreck Happen”

No one I know has ever witnessed a train wreck as it happened. As such, when a friend or colleague says or writes that an event “was like watching a train wreck happen,” I’m pretty sure it wasn’t like watching a train wreck happen.

      Until Sunday, May 5, that is, when President Donald J. Twitter […]

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Paying Taxes Like a General, or, Better Yet, Amazon

      Decades ago, when discussing the complexity of U.S. tax code, an ag lobbyist friend noted that all he wanted in any tax reform “was to pay the same taxes the generals paid: General Mills, General Motors, General Dynamics…”

      He’d still take that deal. In 2018, General Dynamics had an effective tax rate of 17.8 […]

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Forecast for Trump Trade Talks: More Snow, Maybe Ice

      If what we’re seeing now is the Trump trade “strategy”—cram trade talks between the U.S. and China, the U.S. and Japan, and the U.S. and European Union (E.U.) into an ever-tightening window—export-dependent American farmers and ranchers are in serious trouble for several reasons.

      The first reason is the relentless calendar. Trade talks require years […]

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Heading for the Brexit

Two hundred and forty-three years after the not-yet United States declared its independence in a lengthy letter to England’s King George III, the old enemies are, yet again, new allies.

This time, however, it’s an unlikely alliance of defiance; both are challenging international institutions like the World Trade Organization and the European Union (E.U.) which some […]

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No More Wild Swings, Eh?

If the calendar was a baseball game, mid-December would be the bottom of the ninth.
As such, and given 2018’s crazy weather, banner crops, sloppy harvest, muddled export future, and skinny-to-no profit, mid-December finds farmers and ranchers now at bat with two outs and the opposing team’s smoke-throwing relief pitcher on the mound.
Yeah, it’s been a […]

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Reading the Facts In-Hand… Or in Your Palm

Years ago, an enterprising neighbor operated a palm reading business from her home with just a secretary, fax machine, and telephone. Her business model was simple: After clients faxed their photocopied handprint and sent some form of payment (rumor had it was $20), our neighbor telephoned them with the results of the “reading.”
While no one […]

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Sonny Warned ‘Em–Twice, In Fact

It’s Thanksgiving week, so let’s be generous: The White House trade policy, marked by its heavy use of import tariffs and presidential tweets, continues to confound economists and trading partners alike.
A more accurate, less generous view of President Donald J. Trump’s trade policy would declare it an unhinged mess that has led to a dark, […]

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Sometimes You Get What You Vote For

Farmers and ranchers spent most of last month hoping the U.S. Department of Agriculture’s (USDA) recent crop estimates would be proven wrong and President Donald J. Trump’s “plan” to fix “the world’s worst trade deals ever” would be proven right.
September, however, disappointed them on both counts.
On Sept. 12, USDA reported that the already big 2018 […]

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‘A Fool’s Errand for U.S. Policymakers’

While U.S. farmers and ranchers spent August fretting over escalating tariffs and retreating markets, two ag policy experts used the month to publish a series of five columns that artfully—and courageously—skinned most of agriculture’s sacred cows even as they planted new policy ideas for farm and ranch success.
(All five columns are posted at www.agpolicy.org/articles18.htm under […]

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The Carrot, The Stick, and You

The Trump Administration’s good cop/bad cop approach to U.S. trade policy was on full display Aug. 27 when President Donald J. Trump, the bad cop that day, announced a very incomplete NAFTA trade deal—fueled by his heavy use of tariffs—that pointedly excluded Canada.
(NAFTA, or Nafta, is the North American Free Trade Agreement now under renegotiation […]

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