Tag Archives: Featured Stories

Asymmetric Whining  This is not news, but yet again we see the old phenomenon of people whining a lot when something gets worse but then saying nothing when it gets better.  The latest example of that involves gasoline prices.  They were rising and got into the range of near-real highs seen in times like 2008, 1981, and 1918.  But now they have slid backward, down in the neighborhood of 20 cents per gallon where I am.  Crude prices are down as...

As we rounded out the month of March the USDA has been busy assessing the planted acres around the United States, reported the 31st of March. Much to my prior post, there are not really any surprises as the data has indicated that the planting is mirroring last year…with a few caveats, most namely the switch of 4% moving to soy from corn. Let’s take a look at the estimates from the FBN group and their phone survey they conducted a week or so ago...

by Joseph Joyce When Safe Assets Are No Longer Safe The U.S. has long benefitted from its ability to issue “safe assets” to the rest of the world. These usually take the form of U.S. Treasury bonds, although there was a period before the 2008-09 global financial crisis when mortgage-backed securities with Triple A ratings were also used for this purpose. The inflow of foreign savings has offset the persistent current account deficits, and put...

Between the Russian invasion of Ukraine and COVID outbreaks in China, it certainly seems likely that supply shortfalls and upward pressure on prices will continue.  This raises difficult questions about politics and economic policy. On the political side of the ledger, I think that President Biden’s strategy should be predicated on continued inflation; if inflation subsides people will be happy and he will benefit politically no matter what he...

To be very clear; there is no chance (as in zero, nada, ganz sicher nicht, rien, none) that NATO will invade Russia. Never was. There is no chance that the United States would ever invade Russia (everyone knows we only invade much smaller countries). No one knows the both better than Vladimir Putin. The fear of invasion by NATO, the EU, or the United States was not why he invaded Chechnya, Georgia, and now Ukraine. Putin invaded Ukraine because,...

We’re headed into a busy planting week as we get phase whatever into the ground and more stuff started. At some point we will build caterpillar tunnels to shield crop from extreme August heat, and winter frost, but we plan to plant year round as best we can. A few things happening in the ag world here lately that are of note: Vertical farming in climate controlled warehouses. Really bad idea. The case of the vegetable farms in warehouses...

At the Atlantic, Ed Yong reminds us that COVID has not disappeared, and that our governing institutions are hardly covering themselves in glory on this issue: This week, Congress nixed $15 billion in coronavirus funding from a $1.5 trillion spending bill, which President Joe Biden then signed on Tuesday. The decision is catastrophic, and as the White House has noted, its consequences will unfurl quickly. Next week, the government will have to cut...

RJS, Focus on Fracking; Oil prices went on another wild ride, but i’m going to copy what I wrote on the monthly OPEC report here. The oil surplus, albeit small, surprised me. If it was going to happen, it would be during the winter for most of the planet’s driving population. Note this is for February, before the Russian sh*t really hit the fan . . . February global oil surplus of 360,000 barrels per day is first in 13 months, despite OPEC...

Green grass is growing finally down south as some rainfalls are being received east of the Colorado River, not that Colorado River, the other one that moves through Austin, and has very little to do with it’s namesake. Grass growing in the spring brings on the grazing and let’s the ranchers get off the expensive feed. Now is also the time to sow sorghum for the herds to clear in the next few months. Net, net it’s still an expensive business to be...

Water, water, every where, And all the boards did shrink; Water, water, every where, Nor any drop to drink.The very deep did rot: O Christ! That ever this should be! Yea, slimy things did crawl with legs Upon the slimy sea.About, about, in reel and rout, The death-fires danced at night; The water, like a witch’s oils, Burnt green, and blue and white.And some in dreams assured were, Of the Spirit that plagued us so; Nine fathom deep he had followed...