Despite the positive market reaction to the eurozone’s latest rescue, at least one veteran businessman thinks the deal is a mistake. In fact, he thinks it’s only making things worse. According to Quantum Fund co-founder, free market advocate, author, and regular lecturer of finance at the Columbia University Graduate School of Business Jim Rogers, the EU’s decision to recapitalize its banks won’t do anything to fight off the oncoming “financial Armageddon.”
 
“Just because now you have a way to get them (the banks) to borrow even more money, this is not solving the problem, this is making the problem worse,” Rogers said during an interview on CNBC on Friday.

“People need to stop spending money they don’t have. The solution to too much debt is not more debt. All this little agreement does is give them (banks) a chance to have even more debt for a while longer,” he added.
 
“What are you going to do in two, three, four years when the market suddenly says ‘no more money’ and the Germans don’t have more money, and the American debt has gone through the roof?” he asked.
 
Click here for more from The Blaze with video. 

Disappointed with the Supreme Court’s decision on Obamacare, Insurance Commissioner John D. Doak said he will do his duty under the law.  However, potential legal challenges remain, namely on the issues of religious freedom and navigators.

“Today’s ruling gives the federal government wide-ranging powers it has
never had before,” said Doak. “Not only is it a federal overreach into
citizens’ lives, but it is also the largest tax increase on the middle
class in American history. Taxpayers can’t afford this ill-conceived law
and they deserve a full repeal."

Doak remains opposed to the use of unlicensed navigators, an element of Obamacare that threatens consumer protections.
 
“I am committed to insurance products and services being offered by licensed agents and brokers, not unlicensed navigators. Licensed agents and brokers are the front-line advocates for consumer protection in the state of Oklahoma,” Doak said.
 
“A one-size-fits-all big government policy creates more problems than it solves,” said Doak. “The mandates increase costs for employers, insurance companies and consumers. They also compromise religious freedoms. The federal government shouldn’t be interfering in the private lives of Americans. We can reduce health costs without compromising freedom and access to care with conservative polices like association health plans and being able to purchase insurance policies across state lines.”
 
Commissioner Doak said he is looking forward to the upcoming Presidential election and hopes the new Congress takes immediate steps to repeal Obama’s health insurance takeover. 

Total planted acreage for major crops in Oklahoma is up 6 percent from last year, according to the Oklahoma Grain Stocks report issued today by the USDA-NASS Oklahoma Field Office. Wheat, oats, peanuts, canola, and sunflowers, show an increase in planted acreage, but corn sorghum, cotton, and soybeans decreased from last year.

Wheat planted acres are estimated at 5.4 million acres, up 6 percent from 2011. Acres harvested for grain, at 4.2 million, are up 31 percent from last year.

Oats planted acreage is estimated at 75,000 acres, up 114 percent from last year. Acres harvested for grain ae forecast at 17,000 are up 240 percent from 2011.

Rye plantings are estimated at 260,000 acres, unchanged from 2011.  Harvested acres, at 60,000, are 9 percent above last year.

Cotton planted acreage is forecast at 330,000 acres, down 20 percent from last year. The first harvested acreage forecast of the year will be issued on August 10, 2012.

Corn planted acres are forecast at 370,000 acres, down 3 percent from 2011. Acres harvested for grain, at 330,000, are up 74 percent from last year.

Sorghum planted acres are forecast at 240,000 acres, down 20 percent from 2011. Acres harvested for grain, at 200,000, are up 150 percent from last year.

Soybean planted acreage is forecast at 410,000 acres, down 7 percent from 2011. Harvested acres are expected to total 380,000 acres, 43 percent above last year.

Peanut planted acreage is forecast at 28,000, 17 percent above last year. Harvested acres are expected to total 26,000, up 18 percent from 2011.

All hay acreage is forecast at 2.9 million, up 16 percent from 2011.  Alfalfa hay, at 200,000 acres, are unchanged from last year. All
other hay is forecast at 2.7 million acres, up 17 percent from last year.

Survey results are based on Oklahoma farmers and ranchers reports from the June Agricultural Survey conducted during the first two weeks of June 2012.

OKLAHOMA GRAIN STOCKS DOWN 5 PERCENT FROM LAST YEAR

Wheat stored in all positions on June 1, 2012, totaled 58.3 million bushels, down 5 percent from last year, according to the Oklahoma Grain Stocks report also issued today. Wheat stored in off-farm locations comprised almost all of the total stocks.

Off-farm corn stocks totaled 3.7 million bushels, down 63 percent from a year ago.

Off-farm sorghum stocks totaled 913 thousand bushels, down 69 percent from 2011.

Oats stocks stored in commercial facilities on June 1, 2012, totaled 68 thousand bushels down 25 percent from a year ago.

This report was based on reports from Oklahoma farmers and commercial storage facilities.

Both of these Oklahoma reports can be view online at: www.nass.usda.gov/ok under "Recent Reports." The national database,
Quick Stats, and all USDA-NASS reports are also available on the agency’s web site. For more information on NASS surveys and reports, call the USDA-NASS Oklahoma Field Office at 800-525-9226.

USDA’s National Agricultural Statistics Service provides accurate, timely, useful and objective statistics in service to U.S. agriculture.  The agency invites you to express your thoughts and provide occasional feedback on our products and services by joining a data user community. To join, sign in at http://usda.mannlib.cornell.edu/subscriptions and
look for "NASS Data User Community."