The Next Shoe In The Farm Crisis Drops: Bankruptcies Soar 24%
November 4th, 2019Via: ZeroHedge:
The American Farm Bureau (AFB) warned Wednesday that farm bankruptcies are entering a parabolic move.
The farm crisis, as we’ve pointed out, is only accelerating and will likely be on par with the farm disaster that was seen in the early 1980s.
President Trump’s farm bailouts, given to farmers earlier this year, appears to be failing at this moment in time, as a tsunami in farm bankruptcies is sweeping across the country.
With record-high debt, collapsing farm income, and depressed commodity prices, US farmers are dropping like flies as there’s no end in sight in the 15-month long trade war.
AFB said farm bankruptcies for the 12 months ending in September, totaled an astonishing 580 filings, up 24% YoY.
