U.S. farm bankruptcies hit an eight-year high: court data
https://mobile.reuters.com/article/amp/idUSKBN1ZT2YE
CHICAGO (Reuters) - U.S. farm bankruptcy rates jumped 20% in 2019 - to an eight-year high - as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data.
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The increase in cases had been somewhat expected, bankruptcy experts and agricultural economists said, as farmers face trade battles, ever-mounting farm debt, prolonged low commodity prices, volatile weather patterns and a fatal pig disease that has decimated China's herd.
Even billions of dollars spent over the past two years in government agricultural assistance has not stemmed the bleeding.
Nearly one-third of projected U.S. net farm income in 2019 came from government aid and taxpayer-subsidized commodity insurance payments, according to the U.S. Department of Agriculture.
Its really because we want to kill their cows