As harvest rolls on in Michigan, taxpayer money rolled through Congress to bail out a mismanaged financial industry. Economists predict continuing challenges for agriculture, including a potential spike in interest rates, perhaps as early as this winter, and tighter borrowing parameters.
It's a wonderful financial crisis
Today's economic reality is a colorful mix of election-year urgency, greed, mistrust, bad investments and deregulatory rhetoric. Click here for full story.Brit sets wheat harvesting world record
British farmer Keith Challen, under the watchful eye of an invited Guinness World Records official, used a Claas Lexion 580 Terra Trac (the 595R in North America) to harvest 19,533 bushels (532.14 metric tons) of wheat in eight hours. That's 18 percent better than the previous world record. Click here for full story.New Michigan Livestock Expo planned for 2009
A new statewide market livestock show is being planned for July 17-19 at the Ingham County Fairgrounds in Mason. Click here for full story.What caused this economic mess?
Regardless of how one may feel about the government takeovers of Freddie Mac and Fannie Mae or AIG, the collapse of Lehman Brothers or any of the other maelstrom of financial news of late, the fundamental cause still goes back to the housing market. Click here for full story.Governor requests federal disaster assistance for Michigan farmers
Governor Jennifer M. Granholm has officially requested federal disaster assistance from U.S. Department of Agriculture (USDA) Secretary Edward Schafer for farmers in nearly 70 Michigan counties who face fruit, vegetable, and field crop losses. Click here for full story.The financial crisis and U.S. agriculture: A history of bailouts
Details of the most recent Congressional bailout remain unclear. But a review of past government bailouts can be informative. Click here for full story.