rate rise could break farmers vaile

Rate rise could break farmers: Vaile
Posted Thu Oct 25, 2007 11:10am AEST
Updated Thu Oct 25, 2007 1:50pm AEST


Mark Vaile says primary producers are carrying high levels of debt. (File photo) (AFP: Fabrice Coffrini)

Audio: Banks dismiss Costello's rate rise warning (The World Today) Audio: Chaney hits out at Govt tax reform 'failure' (The World Today) Audio: Costello discusses inflation figures (AM) Audio: Labor hits out at possible rate rise (AM) Map: Parkes 2870
Related Story: Rate rise won't hurt election chances: Joyce Federal Nationals leader Mark Vaile says another interest rate rise could further cripple farmers and rural businesses who are already struggling with drought.

The latest inflation figures have fuelled speculation of another interest rate rise early next month.

Mr Vaile says the drought has hit 65 per cent of Australia's agricultural areas and primary producers are carrying high levels of debt.
http://www.abc.net.au/news/stories/2007/10/25/2069944.htm

October 2007
The visual US drought monitor looks very grim over there as well. http://drought.unl.edu/dm/monitor.html

Higher food prices are a certainty. Governments seem to be more concerned with fighting unwinnable wars in far off lands than planning some type of national action perhaps to other areas that will continue to have functioning river systems to counteract dust bowls that are forming in the Murray-Darling Basin food bowl.