The Daily Reckoning...

Food ... The Trade of the Decade By Chris Mayer Gaithersburg, Maryland

"If you can tell me something else where the fundamentals are so attractive...I'd be happy to put my money there," said Jim Rogers, the famed investor and self-made billionaire in a recent interview. "But I don't know of any other place." What's he talking about? Agricultural commodities like soybeans, wheat and corn.

An Intriguing Mosaic By Chris Mayer Gaithersburg, Maryland

The relationship between grain prices and fertilizers is pretty clear. It's all about profits. Let's take corn. Higher corn prices mean more profits for farmers. Fertilizers help grow more crops. So high corn prices encourage more corn planting - which leads to more fertilizer use. At today's prices for corn and fertilizer, a US farmer can clear about $2 a bushel on corn. So net cash income is high for farmers right now. Today's farmer also carries low levels of debt, relative to times past.

The Credit Crunch Continues By Douglas French

The credit crunch continues, with businesses large and small finding that their bankers remain exceedingly stingy in the wake of the 2008 financial debacle.

The On-Again, Off-Again Depression By Bill Bonner Johannesburg, South Africa

The US stock market is still in "bounce mode." All bounces come to an unhappy end. This will be no exception. If you step back a bit further, you could see it in a different light.

The Retarded Recovery By Bill Bonner Dakar, Senegal

Nothing is quite as disagreeable as a neighbor who has made a lot of money by not following your advice. After 9 months of 'recovery' they are all around us. They think they have perfected the art of bubble riding.