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Court data compiled by the American Farm Bureau Federation, a trade group, found that chapter 12 filings nationwide actually fell by about 1 percent in 2018, and that the 2018 level was below the 10-year average.
"Bankruptcies are not at record levels," John Newton, the Farm Bureau’s chief economist, told PolitiFact.
U.S. farm bankruptcies in September surged 24% to the highest since 2011 amid strains from President Donald Trump’s trade war with China and a year of wild weather.
Were you on here in 2011 wailing and gnashing teeth about the high rate of farm bankruptcies?
The Wall Street Journal article, meanwhile, found that bankruptcies in three judicial districts had hit 10-year highs -- the Seventh Circuit Court of Appeals (Illinois, Indiana, and Wisconsin), the Eighth Circuit (North Dakota, South Dakota, Nebraska, Minnesota, Iowa, Missouri, and Arkansas), and the Tenth Circuit (Utah, Wyoming, Colorado, New Mexico, Kansas, and Oklahoma). Those circuits accounted for nearly half of all U.S. farm sales, the Journal reported.
Were you on here in 2011 wailing and gnashing teeth about the high rate of farm bankruptcies?
I think pretty much everyone was still gnashing their teeth in the aftermath of the Mighty Meltdown aka Bush economic crash. The overall situation in US had improved by 2011 but our trading partners overseas were still pretty deep in it, so export dependent industries in US were still struggling. Maybe you were not around.
Court data compiled by the American Farm Bureau Federation, a trade group, found that chapter 12 filings nationwide actually fell by about 1 percent in 2018, and that the 2018 level was below the 10-year average.
"Bankruptcies are not at record levels," John Newton, the Farm Bureau’s chief economist, told PolitiFact.
We rate the statement Mostly False.
2018 wouldn't show the big impact from the trade war since most tariffs weren't implemented until late 2018. 2019 data would be more valid if you want to see the impact of the trade war.
We grow food for export not for consumption in the USA and it’s well k own. It is not a mistake that vegetables get more expensive by the year and soy / corn / sugar remain as cheap as possible.
Trump did not understand that when the tariffs were put in but China did.
Farming in America is more akin to Amazon than to local mom and pop setups. You have to be big and grow the crops the Congress says are winners to make a profit.
Bankruptcy is about math, numbers.... there's no spin. Did you look at the actual data over time?
What do YOU actually know about farming and agriculture in general? Using farmers/agriculture as a political weapon against president Trump is a losing proposition.
Bankruptcy is about math, numbers.... there's no spin. Did you look at the actual data over time?
What do YOU actually know about farming and agriculture in general? Using farmers/agriculture as a political weapon against president Trump is a losing proposition.
all this winning.... I can't take it!
Don't bother, facts are like kriptonite to the likes of finn , his TDS has rotted his brain.
Post after post, thread after thread of faux outrage and fake concern day after day.
Now that he has been proven wrong again he will slink away to scour the leftist websites for his next fake outrage.
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