Farmers in Midwest filing for bankruptcy at record rates as a result of President Trump's trade war [View all]
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.
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