by John Galt August 21, 2019 20:00 ET
The next downturn will NOT be a repeat of 2007 to 2009.
That is a guarantee.
While the U.S. experienced isolated incidents of people being served eviction or foreclosure notices offering up armed resistance to law enforcement, such as what happened in Missouri last week, it has been all quiet on the agricultural front until today.
From the Grand Folks Herald this afternoon:
The so-called strong rural supporters of President Trump may have some dissension in their ranks, but it is too early to tell if this is the start of a trend. But this story sounds like the start of something larger, which is a nightmare for our nation. From the article linked above:
In a sign of rising tensions with the farm community, the Trump administration withdrew staffers from a privately run tour of Midwestern corn and soybean fields after a government employee received a threat.
While the threat was made by someone not involved in the Pro Farmer Midwest Crop Tour, the U.S. Department of Agriculture opted to pull its staff as a precaution, Hubert Hamer, administrator of the USDA’s National Agricultural Statistics Service, said by email Wednesday. NASS crops chief Lance Honig was scheduled to address groups on the tour, which comprises farmers, reporters and agribusiness interests scouting crop progress.
“Federal Protective Services were contacted and are investigating the incident,” Hamer said, without giving detail on the nature of the threat. “The safety of our employees is our top priority.”
While the article seems to insinuate that the hostility is from an unfavorable crop estimate report recently from the USDA, the truth is that farm land prices along with agricultural good prices have been in a deflationary death spiral for a few years now.
The Trump administration wants the free market to take over some degree of price controls and discovery but then distorts the process by picking winners and losers using the USDA farm insurance program (aka, price supports).
IF this really is the beginning of a long term trend, then as the economy deteriorates, look for homeowners, renters, and farmers facing foreclosure or eviction to no longer respond with respect for the rule of law. It would appear that the disrespect for our nation’s laws has infected America beyond the major cities and corrupt elites. Now the regular “folk” have become “woke” and realized that they have nothing else to lose.
God help us.