Many farmers in the Delta are pleading for financial help from the government, warning that low prices, high costs and tariffs could push many into bankruptcy. CNN’s Dianne Gallagher reports.
But he’ll probably just end up storing more from his harvest this year and ride it out.
Then your buddy is better prepared than like 90% of farmers, who hsve overleveraged the hell out of their holdings and have debts they counted on selling this year’s harvest to service. The (immediate) problem isn’t so much that farmers have a glut of product to sell, it’s that the farming sector, like almost every other productive sector in the global north is finsncialized to hell and back, getting strapped to the global financial system like a suicide vest that starves you to death instead of blowing you up.
Hell, even if you don’t have large operational debt, the capacity for storage you need to ride out these kinds of things requires large capital investments: money most farmers don’t have at hand, and get loans for. I’m sure it was a genius move to plug the food system to part of the economy that’s been the cause the past 3 or 4 times there was a recession. No problems there.
Then your buddy is better prepared than like 90% of farmers, who hsve overleveraged the hell out of their holdings and have debts they counted on selling this year’s harvest to service. The (immediate) problem isn’t so much that farmers have a glut of product to sell, it’s that the farming sector, like almost every other productive sector in the global north is finsncialized to hell and back, getting strapped to the global financial system like a suicide vest that starves you to death instead of blowing you up.
Hell, even if you don’t have large operational debt, the capacity for storage you need to ride out these kinds of things requires large capital investments: money most farmers don’t have at hand, and get loans for. I’m sure it was a genius move to plug the food system to part of the economy that’s been the cause the past 3 or 4 times there was a recession. No problems there.