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Message
Posted on 8/12/19 at 12:06 pm to Ted2010
I B Teddy on a concern roll!
Posted on 8/12/19 at 12:23 pm to Ted2010
quote:
President Donald Trump’s trade wars are pushing America’s rural economy toward a full-blown meltdown after years of financial hardship, causing more farmers to default on loans while putting the squeeze on agricultural lenders. Farmers have seen their net income plummet by half since 2013 and are now expected to hold nearly $427 billion in debt this year — the most since the farm crisis in the 1980s. The default rate for farm loans held by banks hit its highest level in seven years in the first three months of 2019.
Most of the midwest was flooding or too wet to plant this year. The # of acres of soybeans planted in 2019 is down by 10% from 2018 and that has nothing do with Trump (unless he found GWB's weather machine)., and 10 million acres were not even planted. The farmers got a nice big paycheck from crop insurance for those acres (IBFreeman double triggered). Mother Nature totally bailed Trump out with the farmers this year; which proves that God is a MAGA fan.
ETA: Your link says the 1980s but I said the 1920s-1930s which were way worse than the 80s.
This post was edited on 8/12/19 at 12:55 pm
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