Trade War Crushes American Farmers, Income Collapses Most Since 2016…(Got Food?…3 By 11:30)

Thursday, May 2, 2019
By Paul Martin

by Tyler Durden
ZeroHedge.com
Wed, 05/01/2019

It’s been a rocky road for American farmers under the Trump administration rule. Personal incomes have plummeted the most in three years last quarter, as the entire industry is on the verge of collapse from the ongoing Sino-American trade war.

The Commerce Department on Monday provided new details of the intensifying pressure on farmers hit by the trade war. The report cited a huge decline in farm proprietors’ income in March.

Trade wars, depressed commodity prices, natural disasters, and a synchronized global slowdown have brought many farmers onto the edge of bankruptcies.

Several months ago, we reported that federal data showed the number of farmers filing for bankruptcy has climbed to its highest level in a decade.

“Bankruptcies in three regions covering major farm states last year rose to the highest level in at least 10 years. The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008. In the Eighth Circuit, which includes states from North Dakota to Arkansas, bankruptcies swelled 96%. The 10th Circuit, which covers Kansas and other states, last year had 59% more bankruptcies than a decade earlier.”

The Rest…HERE

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