Here is an interesting video on Bloomberg with Jim Grant regarding the European Central Bank’s response to the sovereign-debt crisis, ECB policy, Fed policy, central bank printing, and farmland.

Link if video does not play: ECB’s Response to Debt Crisis, Money Printing

Grant notes that farmland in Iowa is going for $17,000 an acre far above the rental value of the land. Grant does not use the term bubble, but does suggest this is the wrong time to buy.

Bubble is the correct term.

Mike “Mish” Shedlock
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