The deluded investors and analysts who were counting on the Fed to lower its target for short-term interest rates by three-quarters of a percentage point—or even a full point—certainly were disappointed by the half-percentage-point drop announced Tuesday afternoon. But for…
Bush’s agriculture rhetoric obscures harsh trade outlook for U.S. farmers
Dear President Bush: I heard part of your Sioux Falls speech on the radio the other day. I was so surprised to hear some of your comments on agriculture and trade that I checked the printed text of your remarks…
The Fed can’t save the market
Some days it isn’t easy being an economist. Wednesday morning, when the Dow was down about 270 points, I left my computer screen get a caffeine treat. As I bought an espresso at the local coffee bar, a neighborhood resident…
Spread of disease, storm disasters kept under control by government
When I was still a farmer, I enjoyed raising hogs and sheep, so recent photos from Britain showing muddy animal carcasses being swung onto layer-cake piles of diesel-soaked straw bales, old railroad ties and coal are disturbing. I feel for…