By MEGGIE I. FOSTER
Assistant Editor

INDIANAPOLIS, Ind. — Indiana Treasurer Richard Mourdock and ISDA Director Anne Hazlett shared their thoughts on the condition of the state’s economy and agriculture industry last weekend at the Indiana Cattle and Forage Symposium.

“What an amazing year we’ve had with such a difficult financial climate,” said Mourdock. “And I wish I could stand here and tell you it’s all going to be alright, but I honestly can’t tell you that. Nobody knows what to expect and I don’t have a clue either. In my 42 years of experience in this industry, I’ve never seen such an unfortunate series of events and it’s just getting worse.”

Mourdock explained that the five major investment banks that had all survived the Great Depression are now all gone.

“In March 2008 the federal government arranged a late night wedding, a $30 billion deal between Bear Sterns and J.P. Morgan,” he said. “And just a few months later the U.S. government dealt with Leman Brothers and decided not to help them – let them fail.”
And then in November – the presidential election, which always changes everything. And we definitely didn’t see a positive change.”
Mourdock explained that the economic downturn isn’t just affecting Indiana and the United States, it’s a global issue.

“I’m so tired of brilliant economic geniuses saying ‘You may see a 50 percent reduction in the Dow – you’ll see it rebound’ – on a 113-year trend – there’s global correction – the U.S. used to be the largest creditor – now we’re the bigger debtors,” he added. “But do I think we can turn this around – yes.”

Mourdock’s advice for triggering a turnaround – “No. 1 – federal and state governments need to take the handcuffs off the sources of production in this country. We need productive gains by utilizing the wealth that comes from the ground.”

Also, Mourdock hopes the United States and Indiana can begin to gain new productive advantages from improvements in technology.
“This type of technology can only succeed because of intellectual and creative properties,” he said. “And yes we do have challenges ahead, but we have every right to dream big dreams.”

Agriculture update

With nearly two months on the job, Hazlett, the new director of the Indiana State Department of Agriculture, said ISDA’s top priority continues to be revising the state’s agriculture strategic plan.
“It’s the right time for revision, it’s time to dust off the strategic plan and we’re actively looking for input,” she said, referencing a March 10 event designed to gather stakeholder input.

Hazlett also mentioned that the ISDA is actively working with the legislature to look for new ways to support Indi-ana’s livestock industry.

Also, she said the department is seeking any opportunity for money from the stimulus to benefit agriculture. “We’ll continue to work with the Governor on opportunities in this area,” she said.
Other initiatives Hazlett said the ISDA will be looking at in the coming months include the local foods initiative, a possible state branding program, opportunities for funding in the new farm bill, conservation initiatives and future work with the non-ag community to share the story of Indiana agriculture with consumers.

“One of ISDA key roles is to work with commodity groups – we want to be your partner to help tell your story,” Hazlett said.