The Biz Bucks Blog provides former Biz Bucks students and other busy professionals with a summary and commentary of seminal articles from the opinion pages of the Wall Street Journal. You can be notified of a new posting by subscribing to the blog (enter email in box on right) or by following on Twitter: @BizBucksGuy.
Souring Sugar Prices November 3, 2014 10:00 AM | Tagged as sugar
WSJ 11/3/2014 Page A15: “US Sugar Policy: Sweet for a Few, Sour for Most” by Burleigh C. W. Leonard
Once again, US trade policy is being led by crony capitalism. The US has provided more unreasonable protections to a small industry at the expense of all other US businesses, consumers, and citizens. There are only 4600 sugar growers in the US, but their lobby is very strong. There mantra is, “Here’s some money, Mr. (or Ms.) Politician, now keep us protected from competition.”
The US just forced Mexico to sign an agreement to limit the amount of Mexican sugar that will flow to the US. This and other protectionist policies allow the US sugar growers to price US sugar between 50% and 100% of the world market. Every American consumer is hurt by this. Also, jobs are lost in those industries that use sugar. Small businesses that use sugar are moving in droves out of the US.
Did you know that a roll of Life Savers, an American icon for decades, is now a Canadian product?
No wonder soda pop has corn syrup, not sugar. Ever taste a Sprite in Mexico? Why does it taste so good? Yep, real sugar.
Next time you consume and enjoy the taste of sugar remember you paid as much as double what the market should be.
[Although opinion is included, The Biz Bucks Blog is primarily written to former students of Biz Bucks training courses to encourage their daily reading of the three opinion pages of the WSJ. This refreshes principles of Biz Bucks courses and improves business acumen on topics not discussed in Biz Bucks training.]
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