4430 wrote:
Where are you getting this info I haven't heard of any great lot of farmers going under from Trumps war on unfair trade fact of the matter I haven't heard of any farmers around here going under !
If it were so bad one can bet it'd be on all of the liberal media !
Some how I take it that you'd rather have had Trump done nothing like all the other previous Presidents !
Being in unfair trading doesn't seem to bother some folks !
Farmers are as stupid as many folks think they are and will survive we have been down this road so many times before in my lifetime and yes at times it was hard times but most of us survived !
Where are you getting this info I haven't heard of... (
show quote)
remember, those bad trade deals were written by American business.. Not dictated by other countries.
I can not tell you much about the issue, but in Minnesota the problem is severe..
https://www.agweb.com/article/farmer-bankruptcies-on-the-riFarmer Bankruptcies on the Rise
Profile picture for user Clinton Griffiths
by Clinton Griffiths
08:37AM Feb 08, 2019
With the cost of borrowing money continuing to rise, consider asking your banker about using a fixed loan
The Wall Street Journal reporting that a wave of Chapter 12 bankruptcies is sweeping across the US farm belt as trade disputes take a toll on businesses already hurt by low commodity prices.
Federal data shows bankruptcies in major farm states last year rose to the highest level in at least 10 years.
According to the 7th Circuit Court of Appeals in the Midwest Illinois, Indiana and Wisconsin saw twice as many farmers declared bankruptcy in 2018 compared to those that did during 2008.
In the 8th Circuit from North Dakota to Arkansas, bankruptcies were up 96 percent.
In the 10th Circuit including Kansas Colorado and Oklahoma, they rose 59 percent.
Last year, farm debt rose to $409 billion, with the average size of loans in the 4th quarter at $74,190, the highest 4th quarter level in history.
https://www.forbes.com/sites/chuckjones/2019/08/30/amid-trump-tariffs-farm-bankruptcies-and-suicides-rise/#5201676f2bc8Farmers are pretty much under stress all the time since many factors that affect their livelihood are outside of their control. However, over the past few years the combination of lower prices, rain that has created havoc with their ability to plant and finally China freezing the imports of U.S. grown crops due to President Trump’s tariffs has unfortunately created almost the perfect storm against them.
Body blow to farmers
After China made its announcement that it would stop importing U.S. agricultural products American Farm Bureau Federation President Zippy Duvall said, “China’s announcement that it will not buy any agricultural products from the United States is a body blow to thousands of farmers and ranchers who are already struggling to get by.”
He added, “In the last 18 months alone, farm and ranch families have dealt with plunging commodity prices, awful weather and tariffs higher than we have seen in decades. Farm Bureau economists tell us exports to China were down by $1.3 billion during the first half of the year.”