Excerpt: At a meeting for agricultural bankers, the chairman of the Kansas City Federal Reserve said farmland prices show the characteristics of a bubble, while the Fed’s new quantitative easing policy could fuel inflation.
Excerpt: House Democrats’ devastating losses in Tuesday’s mid-term election swept away a number of members from hotly contested rural districts whose full-throated support for keeping the taxpayer-funded farm subsidy spigot wide open was supposed to inoculate them against challengers and help Democrats maintain control of the House.
Environmental Working Group’s analysis of the 2010 mid-term election results shows that for besieged rural Democrats, their votes for the 2008 Farm Bill and its lavish farm subsidies for the largest and wealthiest farm operations in their districts did not shield them from the Republican wave. There is clear evidence for this with the news that at least 15 Democratic members of the House Agriculture Committee lost their seats, including ardent subsidy defenders Stephanie Herseth Sandlin of South Dakota and Earl Pomeroy of North Dakota. Meanwhile, Democrats who voted against the Farm Bill were largely unscathed.
Excerpt: You would never participate in slavery, right? I know, it seems like a bizarre question in this day and age — of course no sane, civilized member of a modern society would take part in the indentured servitude of others. Lincoln ended all that 150 years ago, didn’t he? And of course you and I would never have anything to do with slavery in 2010.
The dirty little secret though is that millions of Americans are contributing to it each week and they don’t even know it. When you buy tomatoes at the local Publix, Ahold, Kroger, or Walmart, you become the last link in a chain that is attached to shackles in south Florida.
Excerpt: House Agriculture Committee Chairman Collin Peterson, who will lose his position when Republicans take the House, says Democratic Sen. Kent Conrad of North Dakota should take the Senate post, but some North Dakotans see benefits in Conrad’s current committee chairmanship.