The situation in Iran has added uncertainty to the World oil market. Iran's pursuit of nuclear power and the ability to build nuclear weapons has put them in the sights of the world powers that have limited or constricted the proliferation of nuclear weapons. The devaluing of the U.S. Dollar has the effect of making commodities we want (food and oil)more expensive to us compared to other economies with currencies that are stable or gaining in value. Example a few years ago when oil shot up oil prices in Europe doubled, in the U.S. they tripled, reason being the value of U.S. currency was falling compared to the Euro. The current administration's plan to increase taxes on corporations may also drive up our commodity prices. After all if they can sell a gallon of gas in China for $3.00 with 10% taxes on the profit or sell the same gas in the U.S.for $3.00 with 40 or 50% taxes were are they going to sell it? To sell it in the U.S. we will have to pay more for them to make that same amount of money. Or to state another way we have to pay the additional transactional costs (taxes) on commodities priced on the world market, another way-if our government charges us to buy or sell in our markets our costs will reflect the world market cost PLUS the government fees associated with the transaction.
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Today's Featured Article - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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