U.S. Farm Bankruptcies Surge 24% on Strain From Trump Trade War (Saddam, insurance)
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This is happening in the "best economy in history of mankind". Our GDP growth is also anemic, so its hard to support the claim "best economy ever" with facts, it just has to be believed (and many do).
U.S. Farm Bankruptcies Surge 24% on Strain From Trump Trade War
Farmers increasingly dependent on federal aid, crop insurance
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.
Growers are also becoming increasingly dependent on trade aid and other federal programs for income, figures showed in a report by the American Farm Bureau Federation, the nation’s largest general farm organization.
Almost 40% of projected farm profit this year will come from trade aid, disaster assistance, federal subsidies and insurance payments, according to the report, based on Department of Agriculture forecasts.
U.S. farmers in trouble despite Phase 1 trade deal
This is trump's logic for managing the trade war with China:
Quote:
Plantings of such China-dependent crops likely would have fallen much further were it not for the Trump administration’s allocation of $24.5 billion in aid to compensate farmers for trade-war losses. The bailouts gave many farmers an incentive to keep planting crops such as soybeans that they knew would be difficult to sell at any profitable price. Government handouts are expected to account for nearly a third of 2019 net farm income, according to federal government and bank regulatory data.
This is happening in the "best economy in history of mankind".
I got a big chuckle back in 2018 when Trump whipped out FDR's 1933 Commodity Credit Corporation relief for the farmers. Right wingers were bragging about it and I remember thinking that FDR implemented this program in the nadir of the great depression and now Trump is resorting to using it in the "greatest economy ever".
Agriculture is an “industry “ that will always have to be protected by government against overly cheap imports. It is imperative that a nation be able to feed itself.
Agriculture is an “industry “ that will always have to be protected by government against overly cheap imports. It is imperative that a nation be able to feed itself.
The nation can feed itself without giving farmers tens of billions of dollars every year. Clearly we have too many farmers growing more food than they can sell. It needs to stop. Trump is saying his stupid trade war solved the problem. Good. Now turn off the money spigot to farmers.
The op failed to mention that the trade deal with China will reverse this.
Could you imagine if the Trump haters had to tell the truth for a day.
It would be just like the movie Liar Liar.
Your prediction of a future event is now "the truth", and those who don't agree are "liars".
You MUST be a Trump loyalist to say something like that
What was the name of Saddam's propaganda guy who said things were going just great when the US troops were already drinking wine from Saddams private collection. Is that you Mohammed (Muhammad Saeed al-Sahhaf)?
Last edited by Finn_Jarber; 01-23-2020 at 11:35 AM..
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