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turbinetree

(24,632 posts)
Thu Sep 5, 2019, 09:53 PM Sep 2019

Farm loan delinquencies surge in U.S. election battleground Wisconsin

Source: Reuters

Politics
September 5, 2019 / 7:30 PM / Updated 2 hours ago

Jason Lange, P.J. Huffstutter
5 Min Read

WASHINGTON/CHICAGO (Reuters) - Farm loan delinquencies rose to a record high in June at Wisconsin’s community banks, data showed on Thursday, a sign President Donald Trump’s trade conflicts with China and other countries are hitting farmers hard in a state that could be crucial for his chances of re-election in 2020.

The share of farm loans that are long past-due rose to 2.9% at community banks in Wisconsin as of June 30, the highest rate in comparable records that go back to 2001, according to a Reuters analysis of loan delinquency data published by the Federal Deposit Insurance Corporation.

While the number of seriously delinquent farm loans is rising nationwide, the noncurrent rate has more than doubled at Wisconsin’s community banks since Trump took office in January 2017. It now stands higher than in any other of the top 10 U.S. farm states as measured in production - a list that includes California, Iowa and Texas.

Nationwide, the share of farm loans at all FDIC-insured banks that are at least 90 days past due or are no longer accruing interest because of repayment doubts stood at 1.5% at the end of June, the FDIC data showed.

Read more: https://www.reuters.com/article/us-usa-election-wisconsin-farmers/farm-loan-delinquencies-surge-in-u-s-election-battleground-wisconsin-idUSKCN1VQ2Y1

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Farm loan delinquencies surge in U.S. election battleground Wisconsin (Original Post) turbinetree Sep 2019 OP
Farmer One still supports Trump and Farmer two is a maybe........... riversedge Sep 2019 #1
Farmer #2 better realize.... SergeStorms Sep 2019 #4
they will never vote Democratic. Best case scenario is they stay home election day. TeamPooka Sep 2019 #9
Remember when Trumpsky said "What have you got to lose?" BlueIdaho Sep 2019 #16
They should have asked if they got government bail-out checks modrepub Sep 2019 #26
making ameriKa great again, they got what they wanted. nt yaesu Sep 2019 #2
Yep ck4829 Sep 2019 #28
I'm horrified for these people and their families AllyCat Sep 2019 #3
If they continue to support him FiveGoodMen Sep 2019 #17
Their kids don't. AllyCat Sep 2019 #18
That is a very good point! FiveGoodMen Sep 2019 #19
Drumpf promised a trade war Takket Sep 2019 #5
wisconsin dems that i follow have been hammering mopinko Sep 2019 #6
We're watching it happen in Central Wisconsin too... ewagner Sep 2019 #12
i dont think that many of them will turn, but i do think mopinko Sep 2019 #13
Highest rate since when...? Grins Sep 2019 #7
Apparently they're not getting Trump's socialized welfare payments? SergeStorms Sep 2019 #8
But; but; but... "MAGA!" n/t EarthFirst Sep 2019 #10
It's very clear that farmers have been ... ananda Sep 2019 #11
I worked for a farm equipment manufacturer ewagner Sep 2019 #14
It does work in a way though ck4829 Sep 2019 #24
Those lost Chinese markets are not coming back Farmer-Rick Sep 2019 #15
Thank you Donald for the Trump economy. keithbvadu2 Sep 2019 #20
The shit will really hit the fan in a few months NickB79 Sep 2019 #21
Keep pulling the lever for republicans, idiots. Yeehah Sep 2019 #22
Indeed ck4829 Sep 2019 #25
Kick ck4829 Sep 2019 #23
So much winning!!!! bluecollar2 Sep 2019 #27

riversedge

(69,722 posts)
1. Farmer One still supports Trump and Farmer two is a maybe...........
Thu Sep 5, 2019, 10:06 PM
Sep 2019





..............................Dave Daniels, a corn and dairy farmer in Kenosha County, Wisconsin, voted for Trump in 2016 and still supports the president.

Slideshow (2 Images)

The drop in grain prices has helped his dairy by making it cheaper to buy feed for his animals. But neighboring grain businesses are suffering and there are few signs of things getting better ahead of the 2020 election year.

“The trade deals are in the back of everyone’s mind right now,” said Daniels, 64. “The thing everyone is saying is, ‘we have to make some money this year.’”

Trump, a Republican, won Wisconsin in 2016 by just over 20,000 votes - less than 1% of ballots cast. The state backed Trump’s predecessor, Democrat Barack Obama, in the 2008 and 2012 elections.


........Jim Zimmerman, a corn farmer in Fond du Lac County, Wisconsin, said he was still holding out hope that they could be better off in the long run.

Zimmerman, who voted for Trump in 2016, said it was too soon to decide how - or if - he will vote in November 2020.

“But talk to me in six months, and if nothing is resolved? It’ll be a different story,” he said.

SergeStorms

(18,895 posts)
4. Farmer #2 better realize....
Thu Sep 5, 2019, 10:48 PM
Sep 2019

that even if the tariffs end they're never getting that business back from China. The Chinese do hold grudges, and if they're getting those products from another country now they won't come back to American farmers just because Little Donnie ends his "good, and easy to win" trade war. Maybe they'll consider it after Trump is gone, but it's probably going to take a decade or so.

AllyCat

(16,035 posts)
3. I'm horrified for these people and their families
Thu Sep 5, 2019, 10:45 PM
Sep 2019

Yet more enraged that they continue to support the one who brought this to their doorstep.

FiveGoodMen

(20,018 posts)
17. If they continue to support him
Fri Sep 6, 2019, 12:18 PM
Sep 2019

then they deserver EVERYTHING they get.

If not, then I feel bad for them.

mopinko

(69,806 posts)
6. wisconsin dems that i follow have been hammering
Thu Sep 5, 2019, 11:40 PM
Sep 2019

the number of dairy farmers going under.
keeping a running body count on fb.

mopinko

(69,806 posts)
13. i dont think that many of them will turn, but i do think
Fri Sep 6, 2019, 09:22 AM
Sep 2019

a lot of them will stay home.

if they cant suppress the vote in milwaukee, you will be back in the blue. fingers crossed.

Grins

(7,134 posts)
7. Highest rate since when...?
Fri Sep 6, 2019, 12:19 AM
Sep 2019

Highest (delinquency) rate...back to 2001?

So....Obama was better? (Hell - Bush was better!) Tell that to the mango tyrant just to watch his head explode!

SergeStorms

(18,895 posts)
8. Apparently they're not getting Trump's socialized welfare payments?
Fri Sep 6, 2019, 01:06 AM
Sep 2019

I guess the only people taking advantage of agrarian socialism are the big corporate farmers. The small family farms, all but wiped out anyway, are getting the shaft from Trump's payola scheme? Who could have guessed that would happen?

ananda

(28,783 posts)
11. It's very clear that farmers have been ...
Fri Sep 6, 2019, 02:40 AM
Sep 2019

way messed up in their thinking and belief systems.

I guess you could call it magical thinking and it
never works.

ewagner

(18,964 posts)
14. I worked for a farm equipment manufacturer
Fri Sep 6, 2019, 09:25 AM
Sep 2019

here in Wisconsin....

I saw two things that killed the small farmer and consequently a lot of equipment manufacturers...

First was the consolidation of farms...the 60-80 cow family dairy farm couldn't compete with the large 1,000+ cow dairies and the processing plants were able to cut their transportation costs by having only one or two sources to transport from insteat of 6-10 sites/farms.

The Second was "vertical integration" by the end customers...when the end user like chain convenience stores and large chain grocery stores started building their own mega farms (5,000 + cow) and processing their own milk the,00y put a lot of dairy farms (including some independent 1,000 cow operations) out of business.

We have approximately the same number of dairy cows but MUCH fewer farms...and depressingly fewer dairy farmers.

ck4829

(34,977 posts)
24. It does work in a way though
Thu Sep 26, 2019, 03:11 AM
Sep 2019

The way they see the world is more important than how the world works.

Farmer-Rick

(10,072 posts)
15. Those lost Chinese markets are not coming back
Fri Sep 6, 2019, 10:27 AM
Sep 2019

Farmers better start making other plans. Just like the school lunch markets got taken away from local farmers; just like hospital produce markets were taken away from small farmers; just like the majority of grocery store markets have been taken away from local, smaller farmers, Chinese grain markets have been taken away and wont be coming back thanks to Traitor Trump.

Growing GMO soybeans, rice and wheat is not rocket science. All you need is lax regulations, Round Up, poisonous pesticides, chemical fertilizers, GMO seeds, house sized combines, loans or stolen wealth and lots of empty flat land. You don't even have to do any real work. Just spray, spray and spray all those chemicals all over that soon to be food.

China has already developed other markets and routes to obtain their needed grains. Remember China is not a real capitalist economy like the US. The country actually plans its markets and does not apply "free" trade fairy dust to its economic system.

Farmers better start hunting down new markets or do what small local farmers have done........go away.

NickB79

(19,113 posts)
21. The shit will really hit the fan in a few months
Fri Sep 6, 2019, 05:13 PM
Sep 2019

When all the farmers go looking for bank loans for 2020's seed, fertilizer, fuel and equipment and get rejected.

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