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| You stated, "there are bright spots and opportunities even in the darkest of times if you keep your eyes open." According to those at despair.com, it always seems darkest just before the lights go completely out. (Just trying to lighten the mood)
These are, to be quite blunt, frightening times. Commodities exploding, stocks tanking, homes not selling, mortgages foreclosing...
The problem is that TOO much speculative money has entered the commodity markets. As a grain farmer, it is awesome... but for many, it is a disaster not waiting to happen, but one that is in the process of happening. It used to be that mostly ag money or those wise in regards to ag money drove commodity prices. Now it is every Joe Blow that can start an online grain account playing with the market. Granted, the funds truly drive the prices, but are they interested in technicals? No- They will be just as quick to make the money on the way down as they are in making it on the way up. I relate this to the .com boom in the late 90's. Look where most of those traders are now - Broke. My grandfather always said, "anyone can grow corn... not many can market it." | |
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