Market Farming

["Bill Shoemaker" <wshoemak AT inil.com>]

Not really. Thanks for the link though.

I lived through that era and remember well the disaster it became for many 
farmers. There were many lives, homes and dreams that were destroyed by that 
"economic fluctuation".

Bill Shoemaker, Sr Research Specialist, Food Crops
University of Illinois - St Charles Horticulture Research Center
www.nres.uiuc.edu/faculty/directory/shoemaker_wh.html


> Bill,
> Are you familiar with Ken Meter's work? 
> http://www.crcworks.org/rural.html
> His studies follow the impact which subsidies have had on exporting wealth
> out our rural communities.   The growth of the Ethanol industry  today and
> it's impact on farm income  is very similar to the hyperinflated bubble of
> the 1970's.  During that time prices were way up due to a small period of
> time where there was a shortage of grain in the Soviet Union and that 
> market
> opened up to the U.S.  During this time when prices were way up, farmers 
> in
> the U.S. started borrowing huge amounts of money from the banks who were
> more than eager to lend to them.  This lead to the collapse of many 
> farmers
> in the 1980s when prices leveled off again (because, of course the Soviet
> Union could grow their own grain) and these farmers found themselves
> strapped with too much debt.
> If you have never read Ken Meter's studies I recommend them.
> He actually spoke last year at Collin Peterson's local food dinner in
> Morris.  It's unfortunate that Peterson isn't advised in his decision 
> making
> by such minds as Ken's instead of the CEO's of Cargill and ADM.
> --Gary Brever
>
>
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