This week was my first time back on the airlines. One flight had six people but Friday evening the flights were quite full. Atlanta’s airport was quiet Tuesday evening with fewer than 75 people in Concourse C. When you go to the airport, expect high security, military, guns and dogs. How life has change in three weeks.
Wait and See Attitude
I asked my group of Ag Lenders in Texas what was the attitude amongst producers. Many said producers were taking a wait-and-see stance and are very concerned about what was going to happen to government support to agriculture.
It appears that unemployment could jump to about 6% very quickly. For every person laid off by the airlines, it has a ripple effect of six people somewhere else being laid off. The bottom line is that 600,000 to 1,000,000 people will lose their jobs in the initial round of terrorist attacks. This comes at a bad time for the holiday season.
According to the American Bankers Association, the number of credit cards past due is 3.93% of all cards, which is the highest ever recorded since they have been keeping data.
Four in ten high school seniors believe that credit cards and car loans have lower rates than mortgage loans. Maybe initially, but wait until they see the rest of the story.
The Miami Hurricanes look unbeatable in the college division.
Poor K-State just can’t quite get over the hump.
Next week I will be reporting back from the Midwest. I almost hate to tell you where I am going! Somehow we have to shake this feeling. I will say this. I really enjoy getting up before 5 am and tending my heifers. The moon was absolutely gorgeous this morning and made getting out into the 40’s worth it.
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Editors' note: Dave Kohl, Soybean Digest Trends Editor, is an ag economist at Virginia Tech. He recently completed a sabbatical working with the Royal Bank of Canada. He is now back at Virginia Tech with his academic appointment, which is teaching, extension, and applied research.
To see Dave Kohl's previous road warrior adventures type Dave Kohl in the Search blank at the top of the page.
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