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

Feb 2011
18,941
13,826
The formerly great golden state
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

Former Staff
Jul 2014
72,321
63,387
CA
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
18,941
13,826
The formerly great golden state
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
70,483
14,291
By the wall
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.
 

Singularity

Moderator
Oct 2009
33,987
28,897
Kansas
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
4,208
4,904
A Van Down by the River...
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.