Chart of the day: US farm income to be highest in 4 decades
Thursday, February 14, 2013 at 9:28AM
Thomas P.M. Barnett in Chart of the day, agriculture, global trends, global warming

WSJ story.

Despite last year's drought, net farm income in US (128B projected) will be highest since 1973 (adjusted basis).

Why?

Higher prices for livestock and poulty and "a continued boom in the farm belt initially fueled by rising global demand for grains" + that idiotic conversion into corn ethanol.

The big danger?  Great Plains enters the season way too dry - still.

So we see here the interplay between two dominant global dynamics in this century: rising global middle class and rising global temperature.

Article originally appeared on Thomas P.M. Barnett (http://thomaspmbarnett.com/).
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