It’s getting scary.
– Mike Green, Real Estate Auctioneer who auctions farms in Iowa
Source: “In Price of Farmland, Echoes Of Another Boom”, The New York Times, March 4, B1.
Prediction: Crop prices will fall and interest rates rise causing a farm bust in the next few years.
Why isn’t this obvious?
Driven by torrid growth in China base metals have experienced a phenomenal bull market the last few years. Copper has gone from around 75 cents/lb. three years ago to more than $3.50/lb. today. Nickel has gone from around $2/lb. towards…
When I opened up The Wall Street Journal first thing this morning I could hardly believe my eyes. The front page announced two monster deals: Private equity firm Blackstone’s acquisition of Equity Office Properties (NYSE: EOP) (subscription required), the #1 office…
Before the open of the market yesterday (Wednesday) The Labor Department announced (subscription required) that core inflation (“core” excludes food and energy) increased .256% from December to January. Core prices were 2.7% higher compared with last January. The Fed’s desired…
Gold closed at $695.80 today according to Bloomberg. Peter Grandich, editor of the Grandich Letter, wrote (subscription required): A near perfect storm has aligned both technically and fundamentally for gold. A test of the 2006 highs around $735 is not a…
I did want to follow up on my post about preliminary 1st quarter 2007 Real GDP which the Commerce Department reported as 1.3% before the open last Friday. To answer my question, “Does The Economy Matter?”, the answer, at least…
It’s looking like another good week for the stock market. Here’s how the action looks through 4 days: Dow: +151, to 13,477 S&P: +7, to 1513 Nasdaq: -23, to 2539 Russell 2000: -14, to 816 Again, we are seeing the…