'ECONOMIST: 1980's FARM CRISIS GIVES FARM STATES LEG UP IN RECESSION'

(Kearney Hub) — KearneyHub.com reports that Jason Henderson, vice president and chief economist at the Omaha branch of the Federal Reserve Bank in Kansas City, spoke at last week's Governor’s Ag Conference in Kearney. According to Henderson, "conditions leading to the current recession are 'eerily similar to the 1970s' as "debts grew initially because of relatively low interest rates and willingness to loan large amounts of money on asset value instead of cash flow." Henderson "and Gov. Dave Heineman said there is good news for agriculture and Nebraska in general because the state has weathered the recession better than most states." The story notes that Henderson said "there will be an economic rebound only when consumers feel secure enough to spend money," and that "won’t happen overnight." See more at http://www.kearneyhub.com/news/local/article_09730ade-2887-11df-adc8-001cc4c002e0.html>