While the U.S. stock market is soaring to new record highs, farmers are having trouble paying their bills in the heart of America’s agricultural sector.
Farm household spending and capital spending both declined, with bankers in the Kansas Fed’s region saying they expect the trends to continue.Farmers have struggled to escape a downturn that began in 2013, a slump made worse by President Trump’s trade war with China, Mexico and Canada that cut exports and depressed already low prices, while extreme weather including flooding, a freeze, and drought early in 2019 added to farming woes.
“It’s very, very concerning,” Alejandro Plastina, the Iowa State agricultural economist who conducted the study, told the Des Moines Register. “It’s getting harder and harder for farm operations to cash-flow their business.” Nationwide U.S. farm bankruptcies in September surged 24% to their highest level since 2011 amid strains from President Trump’s trade war with China and a year of wild weather.
Ann_Ashford And yet they will still vote for Trump. Thoughts and prayers!
No way. Fake news. Trump luvs farmurs. Femurs luv Trump. Most employed cornstalks in 230years. (even bicolor corn!!) MAGA KAG Trump2020Landslide
To blame one political party or the other for the farmers' woes is beyond stupid. Their business plan is the problem.
One has nothing to do w/ the other.
Oh well. Find them bootstraps.
Farmers will always have trouble paying their bills after bad weather. Been there. China has been screwing America for DECADES. That ends now. In less than a year their economy will buckle if they do not negotiate a fair trade agreement.
They supported this madness at the very beginning
Tell Do Nothin DEMOCRATIC
It's a business based on weather, and weather hasn't been kind. You can't plant corn and soy in a lake. And you can't just game rotating corn and soy forever.
Their God President screwed them royally, bad karma
Farmers were sold out by the Obama administration with the bad trade de sd ls that Trump is trying to fix. Gull blame on Democrats for this.
Dairy farmers have lost over 50% of their export products to China who is buying elsewhere. Trump seems to have forgotten all about the tariffs except to post false claims of negotiations on Twitter.
Sigh... the parallels to previous euphoria, and crash, scenarios keeps growing... but this time IS different. Manipulation by the US Fed, the ECB, Japan's reserve bank, UK, China, Russia, is UPRECEDENTED... now there's an overused word, VERY appropriate to current times!
AND 85% of Americans !!!!!!!!
You think the government cares about our agricultural community? No, they left that to Monsanto.
Crook world
Elections have consequences. Maybe farmers should vote Blue next time.
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