Michael Snyder The Economic Collapse Aug 6, 2012
As you read this, the United States is experiencing the worst drought it has seen since the Dust Bowl days of the 1930s. As you read this, nearly half of all corn crops in the United States are in “poor” or “very poor” condition.
As you read this, 38 major wildfires are ripping across the central and western United States. The brutal wildfires in Oklahoma have been so bad that they have madenational headlines. The price of corn has hit a brand new record high this summer and so has the price of soybeans. More than half of all the counties in this country have been declared to be “natural disaster areas” by the U.S. Department of Agriculture at this point. Things are so bad for ranchers that the CEO of Smithfield Foods is projecting that meat prices will rise by “significant double digits” in the months ahead. Sadly, this drought is projected to continue throughout August and into September. As you will read about below, some meteorologists are even openly postulating that there may not be enough moisture to avoid another drought next year. Yes, things are really bad this year, but when you step back and take a look at the broader picture they become truly frightening.
According to the U.S. Drought Monitor, as of July 31st close to two-thirds of the continental United States was experiencing at least some level of drought….
Keep in mind that brown is “severe drought”, red is “extreme drought” and dark brown in “exceptional drought”.
This is truly a historic drought. We have never seen anything like this in modern times in the United States.
The week before, this is how the U.S. Drought Monitor described conditions in the center of the country….
“Over 90 percent of the topsoil was short or very short of moisture in Oklahoma, Kansas, Nebraska, Missouri, Iowa, Illinois, Indiana, and Ohio, with virtually all (99 percent) short or very short in Missouri and Illinois”
There had been some hope that rain would bring relief to farmers in the central part of the country, but instead things just keep getting worse and worse.
At this point, close to half of all corn being grown in the U.S. is either in “poor” or “very poor” condition.