So-called experts and analysts are fighting with contradictory analyses over a proposed border adjustment tax (BAT) in the U.S., and how currency exchange markets respond is a top argument. Farm Bill Stress U.S. farm groups are trying to set the stage for a new farm bill by emphasizing an economic atmosphere of severe stress. Vince Smith of Montana State University and the American Enterprise Institute cherry-picks data to emphasize that current inflation-adjusted prices are still above those in prior periods, but this ignores the fact that it takes time to cut the cost of production, especially when there is a lag in the price decline of farmland.It is true that most of the large farms producing a majority of the food have favorable debt...

TAGS – North America