Finance

Keep Moving, Nothing to See Here

No one was shocked recently when the General Accountability Office (GAO) announced the U.S. Department of Agriculture (USDA) had overpaid farmers billions of dollars during the slapdash tariff-mitigation scheme ordered by the Trump White House in 2018 and 2019.

A couple of billion bucks in government waste is, evidently, chump change when–as in the case of […]

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You Can Only Postpone Reality for So Long

Despite an honest-to-goodness flood of evidence to the contrary, more than 100 million American adults continue to deny the existence of climate change. That’s roughly one third of the country. 

Congress is little better. Currently, 109 House members and 30 senators, or about 26 percent of all members, have cast “doubt on the clear, established scientific […]

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Goodbye 2021’s High Profits, Hello 2022’s High Costs

It always seems odd to use the final week or two of the current year as a platform to view the coming year. How does looking in the rearview mirror give anyone a clear sense of what’s ahead?

That certainly was the case for most ag markets a year ago. For example, almost no one last […]

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Lost Angeles and Long Beached

Not many people or events lead both the New York Times and CBS’s 60 Minutes television broadcast on the same day. The still-building mess at many American ports, however, pulled off that rare feat Sunday, Nov. 14, by simply being the biggest rat’s nest anyone in port management, railroading, trucking, or the West Coast ag exporting business has ever […]

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Too Much Money, Too Much Drift, Too Much Grift

The federal government can spend more money in 10 minutes than Congress, its watchdog, can track in 10 years. Still, Congressional oversight–as late and limited as it often is–remains a vital element of government.

The House Select Subcommittee on the Coronavirus Crisis proved just how vital in two reports released in October: Tens of millions in […]

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Mother Nature Doesn’t Do ‘Net Zero’

One rainy November day 20 or so years ago, the lovely Catherine and I were hopelessly lost in the streets and lanes of Glasgow, Scotland while searching for an art museum. By the time we finally conceded defeat and hailed a taxi to take us there, we were soaked, shivering, and couldn’t have cared less […]

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Cresting the Wave, Looking Into Next Year’s Trough

There’s no good time for bad news. Most farmers and ranchers, however, prefer to hear it sooner than later to factor it into the day or season’s plan.

Maybe that’s why our good friends at farmdocDaily, the online consortium of Land Grant extension specialists hosted by the University of Illinois, released a “Stress Test of 2022 Crop […]

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Running with the Big Deere

In an effort to maintain its enviable, 34-year run of labor peace, Deere & Co. and the United Auto Workers recently announced a deal to boost worker pay–by 20 percent over five and six years, Deere said–to keep the iconic green-and-yellow machines rolling off its 11 assembly lines and through its three distribution centers.

The manufacturing […]

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Death Taxes: Only for the One Percenters

Most Americans know there are three, unalterable facts of life: death, taxes, and farmers howling about “death taxes.”

And just between you and me, there’s an-oft whispered, rarely acknowledged fourth fact of life: Nearly every farm leader knows there’s no such thing as a “death tax”–federal taxes due upon death–for 99 percent of all farmers.

That’s not an opinion; […]

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The Old Economics of New Agriculture: Drive or Be Driven

A recent, number-laden bulletin posted on the University of Illinois website farmdoc daily caught my attention for two reasons.

First, its data, drawn mostly from several U.S. Census of Agriculture, paints a troubling picture of U.S. agriculture today. More importantly, that picture suggests American ag policy needs to make “strategic” changes to meet new challenges–climate change and new […]

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