85 comments on The Energy Content of the State of the Union
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Not if the 'poor' are corn farmers--they are about to get really rich.
"Get rich"
Maybe and perhaps not. In any event we are on the merry-go-round now and its not stopping anytime soon.
As input costs of the corn and others grains increase then it becomes a dog chasing its tail. At the point when the input cost in fertilizer rises such that farmers lose profit then the crop will lessen as they shift to other crops more than corn, then the corn price goes up and so on.
08 and 09 futures are already right near the $4 figure. That means many are 'locking in' and so those prices would appear to be good for the next two crop years. Still the price could runup even higher. If we have a bad growing season for instance.
Like said: "Mother nauture is now dealing the hand."
Many farmers are not betting on that huge profit. They are just watching as to when their turn comes around again. Take a hit or check. Its guts poker with mother, she might deal off the bottom and you can't do squat about it. Nobody knows the future in this game.
In fact your drinks are no longer free.
She also owns the casino.
There is one thing for sure. You lock them in and you gotta pay up,no matter if your costs go way up and neither if you corn gets drowned out. You played the game and with that hand you can lose the farm.
But some did make good profit on last years as it gave them easily more than $1/bu over what they were getting. Yet here alas some just couldn't get the corn up out of the mud. They lost again. Maybe made expenses,maybe not.