Farmers in Midwest filing for bankruptcy at record rates as a result of President Trump's trade war

[Vinnie From Indy]

Bankruptcies in courts that cover the largest farm states in the country were nearly double in 2018 what they were in 2008, The Wall Street Journal reports.

The 7th Circuit Court of Appeals, which covers a region that includes Illinois, Indiana and Wisconsin, received twice as many bankruptcy filings in 2018 as it did in 2008, during the height of the Great Recession.

The 8th Circuit Court of Appeals, which includes Iowa, Minnesota, Missouri, Arkansas, Nebraska and both Dakotas, saw a 96 percent increase in bankruptcy filings last year compared to 2008.

The 10th Circuit Court of Appeals, which includes Kansas, Colorado, New Mexico, Oklahoma, Utah and Wyoming, saw 59 percent more farm bankruptcies last year than it did during the financial crisis a decade earlier.

[Wellstone ruled]

1. Question,was not 2008 a boom year

for Midwest Ag? So the comparison if so,is a bit skewed. And yes,the farm BK's will go off the charts next year. Ton's of operator's appeared to mortgage their operations to the Max in order to make a crop this year believing the Markets will turn by September.

[LonePirate]

2. And yet I suspect many of them will still vote for Republicans because they hate Democrats.

[Freethinker65]

3. Yep. Probably MOST of them

[samnsara]

4. because..like all of our GOP friends who stop and chat with us in grocery stores...

..as we have done for YEARS..only NOW they interject (with no provocation on our part) ' Isnt Trump doing GREAT things for our Country?' WTF did THAT come from and WTF do they think we would agree with them? They have NO boundaries.



(At this point Im all for thinking there are subliminal messages on Fox news)

[Xolodno]

13. True.

However, if they are pissed enough, they will stay home and not vote.

But then they will be pissed a "D" won and vote the next election. They can't get it through their heads that they are voting against their own self interest. They assume if the they let the big corp's get what they want, they will benefit. And they feel smart for doing so. They think many of the principles we stand on are binary....without realizing, their principles are exactly that.

[GeoWilliam750]

14. I have heard that support is cracking

Possibly not broken, but cracking....

[ck4829]

30. Yep. The Posse Comitatus group was formed because of this mindset, it happened BEFORE!

And it will happen again!

Republican economic policies bankrupt your farm...
Republicans in bed with banks and corporations that take your farm for pennies on the dollar...
Republicans against policies and programs that could have saved the farm...

But let's blame the Jews and liberals though.

[Andy823]

5. And big farm corporations

Will be buying up every acre of land that comes up for sale, and thanking trump from the bottom of their hearts for helping them consolidate more farms into their holdings.

[Trenzalore]

8. Correct

This is planned.

[struggle4progress]

16. +!

[NickB79]

21. The only farms growing in the US are those under 50 acres or over 2000 acres

Either organic producers, local CSA's and hobby farms, or megacorp farms.

Family farms are the walking dead.

[OregonBlue]

6. I'm sorry but that's not possible. Our presidolt said so.

[llmart]

7. Farmers in our area are still reeling from having to leave a lot of their crops to rot last year...

due to the lack of people to harvest them. Hmmm....wonder why that is?

Most of them vote Repub and had Trump signs in their yards.

[Peacetrain]

9. It is hard to explain to people how

crazy this is going to be... Trump pissed all over the farmers just like he does everyone who hooks up with him ..

[Baitball Blogger]

10. Too bad they couldn't hold on until the subsidy bailout began.

It looks like Trump is dragging his feet in releasing the money.

[DURHAM D]

15. They have already received subsidies for last year's crops. nt

[NickB79]

22. The subsidies go to the megafarms

Small family farms are getting pennies.

[Trenzalore]

11. The cynical part of me thinks this is planned

Big Agriculture can buy up the foreclosed properties cheaply.

Trump is an asshole, not a bright one, but an asshole. I don't think he would care much if he was informed his rube supporters were all going to be bankrupted.

[struggle4progress]

17. +!

[watoos]

28. Of course this is planned,

the end result of crony capitalism is monopolies.

[Bengus81]

12. Voted 90+% for Trump in western Kansas...........

And if the election was next week they'd do the same fucking thing.

Sorry,but I'm not crying Argentina...........

[Thekaspervote]

18. Yup!!

[hunter]

19. They were played by Trump who convinced them Hillary Clinton...

... was the New York city slicker they should be afraid of because she's a woman.

wikipedia

Next these bankrupt farmers will be shocked when they and their children can't find work as the corporations effortlessly import foreign labor.

[Maru Kitteh]

20. I spent WAY too much time in Nebraska, and feel qualified to say, as a former resident

Not every person in Nebraska is a dumb summ'a bitch, but many, many, many, of them are. Screw them. They got EXACTLY what they voted for. This is EXACTLY what they said they wanted. Well, now they have it. But hey, at least they can now scream MERRY CHRISTMAS at each other for roughly one month a year.

[wellst0nev0ter]

23. Good.

I feel bad for Minnesota, but the state almost turned red thanks to the idiot trumpanzees in the outstate areas.


Fuckem.

[lunasun]

24. It's ok he is building a wall and making farmers great again . Gave them hats that said so

[former9thward]

25. You are not providing any links.

There are 2 million farms. How many are going bankrupt? Percents don't mean anything with small actual numbers. Also in the bankruptcy code farms and fisheries are combined. How many are farms and how many fisheries?

Bankruptcy takes a long time. The trade war stuff is very recent. No one has gone bankrupt over tariffs just announced. Please give some links to your statements.

[still_one]

26. Obviously, they didn't listen to Tom Cotton

[pamdb]

27. Farmers

If you voted for pumpkin head, I have no sympathy.

[Totally Tunsie]

29. Shown the way to bankruptcy by he who is the master.