Corn, wheat, sugar and a dozen other crops all got increased subsidies in the recent Farm Bill, signed with terrifying agreement. Is there an end in sight?
One overlooked clue while those crops are fetching sky-high prices in that other system known as the free market is data showing farms took acreage from pastureland, which livestock need to graze. So, ranchers have been liquidating herds and giving up in the battle against soaring feed costs.
Food manufacturers have eaten many of these rising crop prices and many grocery shoppers can still dance between the raindrops of inflation's storm at the store if they really try. But there is no place to hide between beef and the butcher paper, so by this time next summer, with supply disappearing, get ready to pay more for that burger.I'll predict that when it finally hits the American grill, politicians will finally get barbequed and changes finally get chewed on....MORE
Wednesday, July 2, 2008
Cheeseburgers When Subsidized
From the Ludwig von Mises Institute: