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Senior Advisor

Re: The so-called Crop Insurance "put option"

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As much as I detest the House being completely paralyzed I was happy the last farm bill that depended on subsidized insurance died. It would have been an unmitigated disaster and made the most hardened welfare queen blush.

It would have been used to bid up rent to within $10 of margin - or even zero - to gain control of acres. Consolidation would be speeded up to unheard of rates. Of course instability would appear later and the whole mess would crash and even further consolidation would ensue. Once you're out you're out.