One year ago at the USA Poultry & Egg Export Council meeting in Puerto Rico, I said the short-term economic and export prospects were poor but that long-term the outlook was a lot better. My short-term outlook was all too correct last year. The world economic and financial situation turned truly ugly last fall/after Russia devalued. Financial markets were paralyzed and the incredibly misnamed Long Term Credit Corporation almost defaulted with a trillion dollars of derivatives. At the last minute, a financial disaster was averted.
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