SF in Hawaii sent this: World food stocks dwindling rapidly, UN warns. Here I must mention that I have hope that American agriculture can come to the rescue. Since they are still free-market driven, American farmers can react rapidly to changing markets. They see the price of corn soaring, so they plant more corn. I wouldn’t be surprised to see hundreds of thousands of fallowed acres taken out of the CRP and put back to productive use within the next couple of years. In real terms, the price of crops actually fell from 1975 to 2005. Since then, they have started to bounce back. It is clear that prices will continue to rise as long as supplies are thin. One of the beauties of the free market is that its reacts and naturally seeks equilibrium. OBTW, the huge global demand for food also underscores my contention that productive farm land is a good investment, even in the midst of a cyclical real estate collapse. The price declines will primarily be seen in suburban real estate in the coastal regions, and in commercial real estate. Farm land prices will probably be much more resilient.
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For those of you with concealed carry permits, or those that live in the blissful state called Vermont (where no CCW permit is required, even inside city limits), I noticed that Survivor’s Club For Men now carries the “Hidden Agenda” pistol cases, that look just like Day Planners. They have them in various sizes to fit pistols as large as full size Colt M1911 Government Models and Glock M21s, and with or without calendar inserts. (Hopefully the Memsahib will take this as a hint for a Christmas gift.)
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Thanks to SJC for sending this: Small Asteroids Pose Big New Threat. A new study concludes that the asteroid that is believed to have caused the massive 1908 Tunguska forest blow-down may have only been 20 meters in diameter.
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K.L. in Alaska recommended this analysis of the ACA Capital debacle by broker Jim Willie: US Dollar and Monoline Bond Insurers. K.L.’s comment: “This article gives some insight on what will happen next as the banking system spirals toward a crash. The mega-bankers are trying to be upbeat in public, but they must be really scared in private. It’s beginning to look more and more like a house of cards that could collapse at any time. As it says in the article, ‘The giants are toppling’.”