The Average U.S. Farm Is $1,300,000 In Debt, And Now The Worst Farming Crisis In Modern History Is Upon Us
by Michael Snyder - Endoftheamericandream.comvia Popular Resistance
August 16, 2019
We haven’t seen anything like this since the Great Depression of the 1930s. Leading up to this year, farm incomes had been trending lower for most of the past decade, and meanwhile farm debt levels have been absolutely exploding. So U.S. farmers were desperate for a really good year, but instead 2019 has been a total disaster.
As I have been carefully documenting, due to endless rain and catastrophic flooding millions of acres of prime farmland didn’t get planted at all this year, and the yields on tens of millions of other acres are expected to be way, way below normal. As a result, we are facing the worst farming crisis in modern American history, and this comes at a time when U.S. farms are drowning in more debt than ever before.
In fact, the latest numbers we have show the average U.S. farm is 1.3 million dollars in debt…