Unemployment: 8.9%

The tiniest bits of good news this morning.  We’re still 8 million jobs short of our high water mark, though… and until we get that under control, we cannot possibly use the word “recovery” in any context.

To make matters a bit worse, the second round of qualitative easing ends in June.  Which means not only is the spigot of money cut off, but that credit markets — unless the Fed chooses to print more money — will dry up, and spark the twin fears of inflation and deflation.

…and perhaps simultaneously.

The price of a bushel of corn has jumped 64% worldwide since last year.  Wheat has gone up 65%.  Expect that trend to continue.

Planting in Virginia starts on March 15th and runs into May.  If you’re not starting at the very least a square foot garden in your backyard this year, you should really consider doing so with some good heirloom variety seeds.

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