Trade wars, climate change plunge the American family farm into crisis
has already earmarked $28 billion in financial assistance for farmers whose sales to China have been crippled or blocked. On August 23, he signed into law the Family Farmer Relief Act of 2019, which increases the debt limit for family farmers seeking to reorganize under Chapter 12 bankruptcy to $10 million from an adjusted $4.4 million.
"We're way down on sales to China," says Riensche, 58. "The balance sheet of who ate what in the world stayed the same; the distribution pattern went all to hell." The trade wars, he adds, "opens the door for your competitors, which would be South America, to ramp up production." Barely 50 years later, the farm crisis of the 1980s saw an estimated quarter of a million farm foreclosures. The causes of that crisis were complex, but as during the worst years of the Great Depression, the underlying factor was financial. When the Federal Reserve tightened its economic policy in 1979 in an attempt to curb inflation, interest rates skyrocketed from on average 6.8 % three years earlier to 21.5% by 1981. Overproduction and a U.S.
While reliable statistics on the suicide rate among U.S. farmers aren't available, states with high agricultural populations have seen a noticeable rise in depression, calls to suicide hotlines and recorded deaths. In Wisconsin alone, where net farm income has plunged 50% in six years, a record 915 suicides were reported in 2017, the last year for which this data is available, according to the Wisconsin Department of Health Services.
O'Toole sits on the board of the Family Farm Alliance, a lobbying and advocacy group aligned with farmers and ranchers in Wyoming and Colorado, as well as with governments and industries, on water supply and irrigation issues.
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