The economy has been in a weird place. The DOW is strong, the dollar is strong, job numbers seem better than anticipated, and consumers are still paying for what they want. However, buying power is lower because prices are higher. Look no further than your local grocery store to see that happening. The problem is that some middlemen up the chain are making a lot of money from the producers and the consumers, and in rural America, those people are the same.
The October Rural Mainstreet Index came out, and it is the monthly outlook on the rural economy. The numbers this month were not stellar. Dr. Ernie Goss is with Creighton University, and he talks about what the survey found.
Lower grain prices are helping livestock markets.
Interest rates are still making things difficult for farmers.
Other indicators help us focus on how well rural America is doing economically.
Rural America has a much more symbiotic economy. The small towns depend on the farmers to keep businesses going, and the farmers depend on these businesses to support their operations and families. It is a much more cyclical model than what we see in strictly urban areas.
