Back by popular demand. Hang on to your seat, this is a whirlwind review of this past summer weekend’s beach reads. Taxes: One of former President Donald Trump’s signature accomplishments was the 2017 Tax Cuts and Jobs Act (TCJA), which his opponents derided for cutting the taxes of even rich people and reducing the corporate tax rate from 35 percent to 21 percent while adding full expensing of investments. Most on the left called it a bailout for the well-off, merely expanding inequality. Liberal economics commentator Noah Smith reflected this view in 2019 but now concedes the policy’s rationale. Higher income taxes might deter individuals from working as hard, but high corporate taxes discourage business investment. He...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
From WPI Consulting
Infrastructure investment due diligence
On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.