U.S. fixed mortgage rates surged to their highest in almost eight months after central bankers jolted financial markets with concerns of accelerating inflation.
Let's see over leveraged corn farmer who just spent a bundle on fuel, seeds and equipment, no crop insurance, sold forward 1/4 of his expected crop and now it's under 4' of water. That is going to work out rather well don't we think.
The wheat is ripe. Custom cutters come on Monday. Got 117 4x6' round bales off a 30 acre hay meadow. The corn has tasseled and my neighbors cotton is playing peek a boo.
There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers.
Authorities in Arizona are stepping up a program to put mosquito-gobbling minnows into the stagnant pools of foreclosed or abandoned homes to prevent an outbreak of West Nile virus.
Rumor?. Heck I don't know. I do know they had one hell of a time meeting the 02 on emission stuff(EGR problems). I am going to guess the development wasn't cost effective for the upcoming 2010 goofy emission standards. Wait till that nighmare starts. I know my uncle just picked up a spare drivetrain for his 96 Volvo to keep him in mechanical injection till he retires...
Ross writes: "There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers."
Yes, but most farmers are pretty savvy. They have to be to keep going year after year. Farming isn't something one normally does as, say, a career change. Dumb bankers, on the other hand can always become . . . economists!
Ross writes: "There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers."
I'm not sure I worry about farmer mismanagement, rather mother nature.
if the weather doesn't change, there is little to no management that will help a lot of Iowan farmers IMO
Here in MN it rains almost every day and is consistently colder than it should be. we've had 2 sunny days in months that I can remember. we had snow in April and even early May (very very rare). we seem to be about 1-2 months behind where we should be weather wise... and have been like that all year long.
"If banks feel they must keep on dancing while the music is playing and that at the end of the party the central bank will make sure everyone gets home safely, then over time the parties will become wilder and wilder. That might not matter were the consequences limited to the partygoers. But they are not."
Mervyn King, Governor of the Bank of England, June 2008
The best thing that could come out of a total bust in the corn crop would be it might finally wake up a few of these clowns in CONgress and shut down this corn ethanol scam once and for all. The higher the price goes the more likely that will happen and the sooner the better.
For the non-corporate farmer, you're two bad seasons from going broke. Speaking of NW Ohio, I have had a few relatives in the farming game, and it's pretty dicey when it's just you, and not CorpFarm USA backing you up.
Your best producing land is a flood plain. (That's why it's your best producing land. All that silt deposited after the spring floods.) Seemed like the rain never came when you wanted it or in the amount you wanted. Always a combine, tractor or some other equipment to repair, and you work sunup to sundown. (in NW Ohio in summer that's 6AM to 9PM)
Anyway, IMO, you have to be WAY smarter as a small farmer to survive than a banker.
Wonderful summery. I would just add:
More than 50 percent of banks reported increased credit risks for all products (except agricultural loans), but similar tightening in underwriting (more than 50%) only for CRE loans, leveraged loans and credit exposure to HFs. Any ideas why this discrepancy?
Economic outlook was the main reason for credit tightening for more than 50% of the banks surveyed. Should the economy improve credit conditions will normalize somewhat.
'"Worry about financial issues such as foreclosures or high credit card balances means people are vulnerable to making poor decisions," said ABA President William Neukom in a statement.'
And I suppose poor decisions have never been made while not worrying about possible bad financial outcomes.
U.S. fixed mortgage rates surged to their highest in almost eight months after central bankers jolted financial markets with concerns of accelerating inflation.
Inflation fear sends mortgage rates to 8 month high
| Reuters
Stimulate this. HAAAAAAAAaaaaaaaaaa
Riding the Titanic down with tight sphincters.
The survey showed significantly tightening in most areas (except agricultural loans).
Boy did my "Next Bubble Detector" just peg the needle at 11.
Something about barns, open doors, and horses come to mind...
except agricultural loans
Let's see over leveraged corn farmer who just spent a bundle on fuel, seeds and equipment, no crop insurance, sold forward 1/4 of his expected crop and now it's under 4' of water. That is going to work out rather well don't we think.
"Boy did my "Next Bubble Detector" just peg the needle at 11."
Rob Dawg | Homepage | 06.12.08
So you mean NW Ohio prime land jumping from 3k/acre to 10-12k/acre in just 5 or 6 years isn't fundamentals ???
What that word again? Oh yea.
Whooooocouldanode.
Chris
The wheat is ripe. Custom cutters come on Monday. Got 117 4x6' round bales off a 30 acre hay meadow. The corn has tasseled and my neighbors cotton is playing peek a boo.
There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers.
Authorities in Arizona are stepping up a program to put mosquito-gobbling minnows into the stagnant pools of foreclosed or abandoned homes to prevent an outbreak of West Nile virus.
Mosquito-eating fish thrive in foreclosed pools
| Reuters
Just when you thought it was safe to get back in the water...........
Double bottom on S&P or breakdown?
cobra,
cat exiting otr engines!?
Almost half of U.S. mortgage borrowers worry about being able to make the payments and keep their homes, said a survey released on Thursday.
Mortgages worry nearly half of Americans: survey
| Reuters
Half that's like 50% isn't it. Uh Oh
"The corn has tasseled and my neighbors cotton is playing peek a boo."
Ross | Homepage | 06.12.08 - 1:11 pm
Dang. Here I always thought "Knee high by the 4th of July" was going to be a bumper crop!
Chris
"cobra,
cat exiting otr engines!?"
BigRig Driver | 06.12.08 - 1:27 pm |
Rumor?. Heck I don't know. I do know they had one hell of a time meeting the 02 on emission stuff(EGR problems). I am going to guess the development wasn't cost effective for the upcoming 2010 goofy emission standards. Wait till that nighmare starts. I know my uncle just picked up a spare drivetrain for his 96 Volvo to keep him in mechanical injection till he retires...
Chris
Hey CR --
Are you surprised that there have not been more bank failures already?
Would be curious to see your reasoning for both # of failures and when we would expect them to appear.
Ross writes: "There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers."
Yes, but most farmers are pretty savvy. They have to be to keep going year after year. Farming isn't something one normally does as, say, a career change. Dumb bankers, on the other hand can always become . . . economists!
Ross writes: "There are dumb farmers that will mis manage but as a percent, far lower than dumb bankers."
I'm not sure I worry about farmer mismanagement, rather mother nature.
if the weather doesn't change, there is little to no management that will help a lot of Iowan farmers IMO
Here in MN it rains almost every day and is consistently colder than it should be. we've had 2 sunny days in months that I can remember. we had snow in April and even early May (very very rare). we seem to be about 1-2 months behind where we should be weather wise... and have been like that all year long.
apt analogy:
"If banks feel they must keep on dancing while the music is playing and that at the end of the party the central bank will make sure everyone gets home safely, then over time the parties will become wilder and wilder. That might not matter were the consequences limited to the partygoers. But they are not."
Mervyn King, Governor of the Bank of England, June 2008
"I'm not sure I worry about farmer mismanagement, rather mother nature."
Or something else like the tomatoe bomb that just went off in Flori-DUH
The best thing that could come out of a total bust in the corn crop would be it might finally wake up a few of these clowns in CONgress and shut down this corn ethanol scam once and for all. The higher the price goes the more likely that will happen and the sooner the better.
For the non-corporate farmer, you're two bad seasons from going broke. Speaking of NW Ohio, I have had a few relatives in the farming game, and it's pretty dicey when it's just you, and not CorpFarm USA backing you up.
Your best producing land is a flood plain. (That's why it's your best producing land. All that silt deposited after the spring floods.) Seemed like the rain never came when you wanted it or in the amount you wanted. Always a combine, tractor or some other equipment to repair, and you work sunup to sundown. (in NW Ohio in summer that's 6AM to 9PM)
Anyway, IMO, you have to be WAY smarter as a small farmer to survive than a banker.
Wonderful summery. I would just add:
More than 50 percent of banks reported increased credit risks for all products (except agricultural loans), but similar tightening in underwriting (more than 50%) only for CRE loans, leveraged loans and credit exposure to HFs. Any ideas why this discrepancy?
Economic outlook was the main reason for credit tightening for more than 50% of the banks surveyed. Should the economy improve credit conditions will normalize somewhat.
I just love this from anonymous'
Mortgages worry nearly half of Americans: survey.
'"Worry about financial issues such as foreclosures or high credit card balances means people are vulnerable to making poor decisions," said ABA President William Neukom in a statement.'
And I suppose poor decisions have never been made while not worrying about possible bad financial outcomes.
Lawyers.