Farm bankruptcies are surging as Trump's trade war drags on

Feb 2011
17,484
11,986
The formerly great golden state
#1
Farm bankruptcies are surging as Trump's trade war drags on


  • At least 84 farms in the upper Midwest filed for Chapter 12 bankruptcy in the 12 months that ended in June, according to a new Minneapolis Fed analysis.
    [*]That's more than twice the level seen over the same period four years ago.
    [*]Tariffs have added pressure to already low margins for farmers.
As President Donald Trump maintains protectionist policies with global trading partners, an increasing number of farms in the Midwest are struggling to stay afloat.

Trade wars are good, and easy to win.
 

HayJenn

Moderator
Jul 2014
67,578
56,641
CA
#2
Trump on Tuesday rushed to placate furious farmers and Senate Republicans about his escalating trade war with China, with lawmakers now considering a package of fresh bailout funds to quell a rebellion in agricultural states.

The fresh uproar came as farmers, lawmakers, business executives, and global investors are looking to Trump for clues on how far he intends to take the trade showdown with China. On Monday, Trump suggested the standoff could last years and lead to structural changes in the global economy.

On Tuesday, Trump offered conflicting forecasts, musing that a deal could come in the next month but also predicting a furious economic battle with Beijing.

https://www.washingtonpost.com/?reload=true

Already gave them 12 billion dollars

Now he wants to give them 15 billion more

And where is that money going to come from?
 
Feb 2011
17,484
11,986
The formerly great golden state
#3
Trump on Tuesday rushed to placate furious farmers and Senate Republicans about his escalating trade war with China, with lawmakers now considering a package of fresh bailout funds to quell a rebellion in agricultural states.

The fresh uproar came as farmers, lawmakers, business executives, and global investors are looking to Trump for clues on how far he intends to take the trade showdown with China. On Monday, Trump suggested the standoff could last years and lead to structural changes in the global economy.

On Tuesday, Trump offered conflicting forecasts, musing that a deal could come in the next month but also predicting a furious economic battle with Beijing.

https://www.washingtonpost.com/?reload=true

Already gave them 12 billion dollars

Now he wants to give them 15 billion more

And where is that money going to come from?
He'll just borrow it.
Borrowing money is good, and easy to pay back.
 
May 2012
68,016
13,517
By the wall
#4
Trump on Tuesday rushed to placate furious farmers and Senate Republicans about his escalating trade war with China, with lawmakers now considering a package of fresh bailout funds to quell a rebellion in agricultural states.

The fresh uproar came as farmers, lawmakers, business executives, and global investors are looking to Trump for clues on how far he intends to take the trade showdown with China. On Monday, Trump suggested the standoff could last years and lead to structural changes in the global economy.

On Tuesday, Trump offered conflicting forecasts, musing that a deal could come in the next month but also predicting a furious economic battle with Beijing.

https://www.washingtonpost.com/?reload=true

Already gave them 12 billion dollars

Now he wants to give them 15 billion more

And where is that money going to come from?
Take it from Planned Parenthood.
 
Aug 2018
2,544
4,011
Vancouver
#5
Take it from Planned Parenthood.
Suddenly happily and enthusiastically in favour of using tax money to support people who have fallen on bad times.

The old wealth distribution, "let's tax consumers and give the money to people who are struggling" idea.

Just took one wink from a big man to thrown out your whole belief system, eh?
 

Singularity

Former Staff
Oct 2009
32,297
26,192
Kansas
#8
Is it better to deal with Chinese now when their economy is basically a house of cards, or wait until they have true power?
This isn't really "dealing with the Chinese."

We're expending massive amounts of global political capital and paying a not-insignificant economic cost to worsen their pre-existing slowdown.

The result is all but inevitable: China will recover, and we'll be seen as an obstinate bully. Meanwhile, it's not at all clear our farmers will recover.
 
May 2019
431
434
A Van Down by the River...
#10
I fear this affects the small-mid-size family farmers the hardest. They don't have the reserves or the access to credit to sustain prolonged interruptions to their revenue stream. That's a shame.
Large corporate farms will be able to squeeze out the small competitors.
So, a big win for capitalism, I guess.
I'm agin' it.