Obama Now Screwing Farmers

Thomas Jefferson extolled the virtues of the agrarian life. To Jefferson, the American farmer embodied the American ideals of hard work, rugged individualism, and the virutues of local and limited government. Now, the long hand of Obama--under the guise of "reforming unbridled Wall Street capitalism"--is screwing over American farmers. Controllng farmers from Washington DC is reminiscent of Russian/Eastern European collectivism.

Read the clip from today's Wall Street Journal article and grab your pitchfork:

GILTNER, Neb.—Farmer Jim Kreutz uses derivatives to soften the blow should the price of feed corn drop before harvest. His brother-in-law, feedlot owner Jon Reeson, turns to them to hedge the price of his steer. The local farmers' co-op uses derivatives to finance fixed-price diesel for truckers who carry cattle to slaughter. And the packing plant employs derivatives to stabilize costs from natural gas to foreign currencies.

Far from Wall Street, President Barack Obama's financial regulatory overhaul, which may pass Congress as early as Thursday, will leave tracks across the wide-open landscape of American industry.

Designed to fix problems that helped cause the financial crisis, the bill will touch storefront check cashiers, city governments, small manufacturers, home buyers and credit bureaus, attesting to the sweeping nature of the legislation, the broadest revamp of finance rules since the 1930s.

To read the whole Wall Street Journal article, click on the blog post title or copy and paste this: http://online.wsj.com/article/SB10001424052748704258604575361182317501188.html?mod=WSJ_hpp_LEFTTopStories