Can the strong dollar be recessionary? Yes, when the dollar is so strong that chicken and hog farmers buy corn to feed their chicken and pigs from Brazil rather than Iowa. An oversupply of corn has developed stateside as foreign corn has gotten cheap to buy. The Wall Street Journal reports that many big livestock farmers are buying corn from South America because the dollar buys so much overseas–triggering a recessionary trend for Iowa farmers. Steve then continues his mini-course on annuities and later reviews what re-insurance is, and why Warren Buffett loves it so much!
