Thursday, May 07, 2009

Farm subsidy cut

Obama will cut payments to farmers. This is important because agricultural products are one of the few things US exports. It is not computer chips made in the Silicon Valley that keep US afloat it is corn chips from Obama's home state of Illinois.

US is world's breadbasket, but if farmers go under it could be the end of the US. Those little green pieces of paper we are printing are backed up with a promise of food. Much of the world depends on US for food, as we are the Saudi Arabia of corn.

Future funny money will face inflation when people find that food prices are going up. It is these agricultural subsidies that keep alive the family farm, but as they disappear so will food off the grocery store shelves.

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