By Abbie Burnett, production communications specialist for Certified Angus Beef
In a third of the world’s economies today banks charge customers to keep money in savings. This and other disincentives to save has brought world economic debt to record levels, and the U.S. at $23 trillion holds the largest share of the $243 trillion total.
“Economic and political order has become disorder,” said Dan Basse, AgResource president, in market analysis comments at the 2019 Feeding Quality Forum in Amarillo, Texas.
The pressure is on to put money to work in those economies, even to the point of devaluing the money,
“In agriculture, everybody is dropping their currencies so they have a competitive edge in producing more supply,” Basse said. “This is what’s giving us a supply bear market in the grains.”
“It’s really why interest rates cannot rise. So, we are kind of locked into this environment of debt and low growth.”
Enter the Chinese economy.… Continue readingRead More »