Thu Nov 27, 2008 at 08:18:15 AM PST
Last week I received a very concerned call from South Dakota farmer and agronomist Bryan Lutter. "Neal, we're out of propane!" I figured this was personal distress – he and his family farm over three square miles of land and I know this has been a tough year for many people. He promptly corrected my misconception when I tried to console him. "No, everybody is out, all three grain elevators, we can't get fuel for the bins, and we're coming in real wet this year."
There are equally dramatic issues due to the bankruptcy of Verasun and the apparent insolvency of the nation's largest private crop insurance program. Payments that would have come in June or July of a normal year are still not dispersed at the end of November and this has grim implications for next year's crop.
I started digging into the details and unless I'm badly mistaken people are going to be starving in 2009 over causes and conditions being set down right now. It's a complex, interlocking issue, and I hope I've done a good job explaining it below the fold ...
Peacenik was looking for something upbeat to post after Peacenik's earlier frightening post about the fiscal black hole. Then Peacenik found this article. Now Peacenik has something else to be frightened about. Is Peacenik a scardy cat, or is Peacenik a realist? Everything seems to be intertwined. Everything seems to be imploding. Wall Street's meltdown means farmers can't dry their corn. This means? Peacenik will stock up on Corn Flakes on the weekend.
