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Oklahoma is having it's worst wheat harvest in 50 years because of the cool, damp weather.
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Long Range Expert Joe Bastardi said this week that areas from the northern Plains into the Northeast will have a "year without a summer."
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Now Canada is suffering from widespread frosts, causing farmers to reseed.
LINKIn Manitoba, the frost is the worst in memory for its frequency and area covered, said Derwyn Hammond, the province's senior agronomy specialist for the Canola Council.
"Certainly (it's) the worst year I've seen," said Hammond, who has worked for the Canola Council for 15 years.
With deadlines for full canola crop insurance ranging between June 10 and 20 in Manitoba and Saskatchewan, Hammond said he expects most farmers will choose not to reseed.
I know the K wave doesn't exist and we are headed for rosey times all around.
Kondratieff Cycle Link
The fifty to fifty-four year cycle of catastrophe and renewal had been known and observed by the Mayans of Central America and independently by the ancient Israelites. Kondratieff's observations represent the modern expression of this cycle, which postulates that capitalist countries tend to follow the long rhythmic pattern of approximately half a century.
"Canada's commodity-dependent economy presents an additional variable to North America's ability to withstand the forces of the deflationary contraction now spreading across the globe. Although there will be periods of rising commodity prices-perhaps the saving grace for economies such as Canada's (commodity and gold prices typically bottom right in the midst of the deflationary contraction, as they did in 1932 at the depths of the Great Depression)-this does complicate the picture with respect to anticipating Canada and North America's ability to "ride it out" with relatively little damage. In fact, because we are so technologically dependant, we may suffer even more."
Edited by Rogerdodger, 09 June 2009 - 10:56 PM.
