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A press release published Friday stated that Canada’s new government is committing $52 million US to be paid out over the next four years through Canada’s Mask Crop Protection Program (CCPP) in order to assist agricultural businessmen who are unable to put their commercial crops to seed because of the effects of spring flooding or excessive field moisture.

“Canada’s new government understands solutions are needed to deal with annual cropland flooding. Through the Cover Chop Protection Program, this government will help to ensure Canadian farmers have the support they need to restore and protect flood-damaged cropland,” the Honorable Carol Skelton, Minister of National Revenue, said in the press release. She spoke on behalf of Chuck Strahl, Minister of Agriculture and Agri-Food and Minister for the Canadian Wheat Board.

The Canadian government is not attempting protectionist subsidizing of its farmers with the CCPP.

Earlier this year, Canada attacked the United States’ employ of federal aid to farmers, including excessive subsidizing and disguising excessive subsidizing as emergency wait on to farmers.

In an international meeting of developed and developing nations held in Germany in June, the United States refused to acquiesce to requests from other nations to place more severe limits on its agricultural subsidizing.

Canada claims that the United States soared right on by her annual WTO spending cap of $19.1 billion six times in original years. Canada also maintains that a program to back loans conventional in buying U.S. farm goods is a disguised form of an internationally prohibited export subsidy. What’s more, Canada is of the view that the U.S. has incorrectly labeled a number of her farm programs — including direct payments and nick disaster assistance — as “supports” that by implication do not significantly distort world markets.

The CCPP on the other hand is essentially a federal government insurance program. Agricultural producers who have enrolled in the insurance program and who cannot get a commercial sever seeded by a certain deadline due to excessive moisture or flooding will be eligible to be paid $15 US per acre.

“The CCPP will target assistance this year to designated areas across Canada where an extraordinary number of unseeded acreage claims were filed due to wet conditions. These areas of claim density will be identified in the coming weeks, at which point the program will be in a position to obtain under scheme,” said Skelton.

“There are a lot of wet, unseeded acres in the province. We appreciate the federal government’s recognition of the severity of the situation and encourage eligible producers to apply for financial assistance under the Cover Crop Protection Program,” David Marit, president of the Saskatchewan Association of Rural Municipalities (SARM), said in the press release.

Sources of information used to research this news story:

Agriculture and Agri-Food Canada (Marketwire), “Canada’s New Government Commits $52 Million to Assist Canadian Farmers with Spring Flooding”

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While we as a nation have been in the throes of financial crisis and seemingly arrive ruin, it has caused me to be all the more aware of the fragility of definite things we may have taken for granted. Most of us have viewed the large banking institutions, insurance firms and investment houses as being gorgeous powerful “rock solid” for a variety of reasons – maybe due to the assumed diversity of their portfolios, strong and adept management, or maybe just the fact of the longevity of many well known investment firms. Unprejudiced when we reached the point of feeling pretty top-notch about our methods of investing – along came the Enron scandal, and more recently large losses in 401K and IRA accounts, bailouts for AIG and the big-three auto makers, and the “Madoff” scandal. I can’t abet but consider that maybe it’s time we take a more “personal” and proactive stance toward our investment decisions, rather than turning our money over to the so-called professionals – which seems to be our propensity.

It seems the investment emphasis for the general public has, over the years, bumped along through various stages. Once-upon-a-time the stock market was looked upon as a type of investing practiced solely by the very wealthy, only the most “sophisticated” investors. During the late 70′s we began to hear of IRAs, then 401Ks and a large rush toward the mutual funds. The 1980′s saw the re-emergence of personal investing in the stocks – dotcoms, penny stocks, IPOs, day-trading and over-the-counter stocks, – by the general public. While these forms of investing are more available to us than ever, there continues to be one make of investment that many seem to avoid like a case of food poisoning and refuse to even consider – the “futures markets”. The dreaded “F-word” of investing.

Futures Markets Today!
Is this fabricate of investing right for the “non-professional” investor today? A few of the demographics depict some interesting details. For instance, the number of contracts traded in the energy markets increased approximately 69% from 1998 to 2004. The increase in the financial markets, such as Treasury Bonds increased around 169%. Also, in the financial sector, of the 949 million contracts traded during 2004 only around 1% were actually settled by delivery or cash settlement. Thus the majority of these contracts, over 90% were traded by speculators. This growing interest is reflected by the increase in the volume of contracts traded in the various market sectors, for example within the currency market, the number of British Pound contracts traded during 2004 numbered 4,070,827 – a 72% increase from unprejudiced a year earlier. These types of increases, across all market sectors, display that the futures- markets offer an unprecedented opportunity for profitable trading due to the increased liquidity and the sheer number of product offerings. It is also evident, that in increasing numbers, individual speculators are turning to this form of investment.

Trading futures was once plan of as the sole domain of only the “most sophisticated” of investors and of very large companies which needed to use futures to “hedge” their production costs against price changes in the market – thus establishing their production costs on “raw materials” into the future. With today’s increasing ability to trade these markets and monitor positions on-line and by using discount brokerages, these markets can be traded quite easily and with very obedient results. Often I’ve heard the old adage that you can lose your “shirt”, “house”, “family farm”, etc in trading the commodity markets, – the CTFC and NFA (watchdogs for the commodities industry) do indeed solemnly warn that because of the leverage involved in trading these markets very substantial losses are possible. Some may even say they are inevitable. But if this is true, one question still begs the asking, – if large losses are possible isn’t it also moral that large gains are very possible as well. While we can’t just “throw money” into holding a futures position as we might do with buying a stock issue (with itsy-bitsy or no risk), what prevents you and me from becoming a knowledgeable and competent investor or trader in the futures markets? Should we automatically assume that losses are inevitable and that the common person with some money to invest is incapable of learning how to trade these markets or how to limit losses should a market turn against his position? Of course not! This is what I propose in my trading method, “Transitional Analysis” and refer to on my website, (www.transitionalanalysis.com) – becoming a proficient and competent trader and taking advantage of this famous form of investing that is often thought of as a realm originate to only the most elite. The term “sophisticated” is most certainly an adjective used to describe an investor who has done the “home-work” on a particular market. One who, because of study and becoming knowledgeable in a certain market, can enter and exit a market position with “discernment”. As I talk to people who are involved in these markets or read the numerous articles available on trading futures, I often note the plethora of systems that propose a “mechanical” or “auto-pilot” type of trading. Isn’t this the mentality that has gotten us into the problems we face today – turning our hard earned capital over to those who we think are somehow better qualified to invest our money?
What is needed? A recent article in “Futures” magazine quoted a successful trader who had posted gains of 142% in 2008 as crediting his success to “a good trading system with sound risk management and markets that are active as hell.” During a year in which many experienced losses of 20% or more in their long-term investments a 142% gain is more than impressive.

Is futures speculation for everyone? Probably not. But for those who can embrace the challenge of becoming knowledgeable in the commodity markets, how they’re traded and how to practice the rules of sound money management there are potentially very good profits to be gained. I believe that education and “a good trading method” are key elements of successful personal investing, whether in the perceived safety of stocks and mutual funds or the more volatile and leveraged returns of the f-word, “futures”.

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In a statement released Monday, Public Justice, a national public interest law firm headquartered in Washington, D.C., and the California-based Foundation for Taxpayer and Consumer Rights (FTCR), said they are requesting a New Orleans federal court to keep public key documents relating to a lawsuit stemming from Hurricane Katrina. The lawsuit is being brought against Allstate Insurance Company on the grounds of “terrible faith”, the failure to pay a legitimate claim on inauthentic grounds of denial.

Allstate has asked the court to keep the documents sealed.

This is not the first time that Allstate has had itself targeted for lawsuits because of a failure to pay claims. A federal court is still waiting for that insurance company to turn over and make public over 12,000 PowerPoint slides made for it by a management consulting firm that started working with the insurer in the early 1990s. The court order was given to Allstate in 2004, and it is amazing that a large corporation is not complying with that order; non-compliance like that is rare.

The company says that it is engaging in “civil disobedience” by denying the order, refusing to let its proprietary secrets and management techniques be stolen by competitors.

But the reason for the court order centers on the claim made by one lawyer in a well-researched book that the management consultant was brought in to indicate Allstate how to re-structure its claims paying policies and whisper its claims adjusters in such a way as to be able to avoid paying on a lot of claims by its policy holders.

Allstate also attempted to block the publication of that lawyer’s book, which was released in 2006. The insurer says that it was using the management training to be able to better protect itself against insurance fraud.

This journalist had Allstate auto insurance in the later 1990s for one year. Although I had a perfect driving record when I bought the insurance, I was the victim of a four-car accident on a fast-moving New Jersey highway that. No one was injured and I was the only one of the four drivers found faultless.

While Allstate paid my claim expediently, I was summarily dropped by the insurer months later for unstated grounds. The company informed me that it had chosen to exercise its “two percent rule” option, under which it is permitted by law to drop two percent of its policy holders in any given year for any reason the company finds to be a good one.

My settlement amount for the accident exceeded the amount of premiums that I paid to Allstate in that year’s time.

“It appears that Allstate devised its claims-handling process to avoid paying claims to homeowners and did so at the very same time homeowners were, quite literally, stranded and desperate due to the devastation caused by Hurricane Katrina. These records shed light on Allstate’s behavior after Hurricane Katrina and Allstate is afraid of the public scrutiny,” said Michael Lucas, a Public Justice attorney.

Source:
Foundation for Taxpayer and Consumer Rights (PR Newswire), “Consumer Advocates Oppose Allstate Insurance Company’s Efforts to Conceal Its Post-Katrina Pay-Out Procedures”

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