Characterizing US Farms by State with Median and Average Values
US farms are very diverse but are easy to group into a common label. The 1.9 million farms counted by USDA, National Agricultural Statistics Service (NASS) for 2023, are all authentically US farms. The average number of farms per state … Continue reading →
The Incorrect Use of a Mean to Mean a Midpoint is Just Mean
English is so difficult. The word ‘mean’ here has three different meanings, one of which is to understand. The first occurrence of ‘mean’ infers an average. The second ‘mean’ occurrence implies or conveys understanding. The third ‘mean’ is a value … Continue reading →
Grit and Joy of a Rural High School Concert – The Secret Life of Rural Communities
The local high school Christmas Concert was this week. It was packed. Hours of practice by the students, hours of extracurricular energy from teachers and staff, mountains of volunteer hours from students and parents, and 90 minutes direct joy from … Continue reading →
Evaluating Loan Schedules – What the Function
Last week Biomass Rules posted about comparing 4-year loans to 7-loans. The Wall Street Journal published an article that discussed negative equity from partially paid car loans. There are multiple factors to consider with more than one correct solution. The … Continue reading →
Food Price Inflation is Small Relative to Production and Manufacturing
If this chart looks familiar, it is because this is the food price inflation chart used in the post, ‘Food Prices are Not Driving 2024 Inflation – Real Adventures in Economics. The difference is the scale of the vertical axis. … Continue reading →
US Economic Policies are Naturally Fractal and Not Retractable
In the United States, one president is preparing to leave, while the next one is preparing to take over. With each presidential transition, there are plans to dismantle policies created during one administration so life will return to better days. … Continue reading →
Deriving Real Values for AFBF’s Thanksgiving Survey – What The Function
The American Farm Bureau Federation does an excellent job with the annual Thanksgiving Meal Survey, and they have for nearly 40 years. They have the infrastructure and the expertise to make it work every year. All of their prices are … Continue reading →
Import Tariffs Do Not Lower Prices – Real Adventures in Economics
Who pays a tariff? This was a standard question in my Greenville University undergraduate economics class. Tariffs are taxes, mostly on imported goods. When the United States imposes a 25 percent, or $0.25/$1, tariff on an imported good, an imported … Continue reading →
Food Prices are Not Driving 2024 Inflation – Real Adventures in Economics
Food prices have been inflated. Food, as a category in the Consumer Price Index (CPI) is no longer driving inflation. The Wall Street Journal reported on November 2, 2024, that grocery distributors are causing food prices to increase and cause … Continue reading →
Hidden Benefits of Declining Hog Pastures
The United States is losing farmland but productivity and output continue to increase. Last week, the loss of 11 million acres of pastureland to cropland was explored. That blog also examined the over emphasized claims on cattle as an environmental … Continue reading →