$12 Billion direct aid to farmers due to trade war, and it's not enough. (Update: Now $24B) (1 Viewer)

SystemShock

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This deserves its own thread.

To Ease Pain of Trump’s Trade War: $12 Billion in Aid for Farmers

The Trump administration announced on Tuesday that it would provide up to $12 billion in emergency relief for farmers hurt by the president’s trade war, moving to blunt the financial damage to American agriculture and the political fallout for Republicans as the consequences of President Trump’s protectionist policies roll through the economy.
. . .
One farm-group study estimates that corn, wheat and soybean farmers in the United States have already lost more — $13 billion — than the administration is proposing to provide as a result of the trade war.
And this is just the farmers... there are other industries that are feeling the hit from retaliatory tariffs from the "enemy".
I guess they'll change the slogan to MASSA: Make America Socialist and Skinny Again.
 

SaintJ

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I suspect most of the promised aid will either never get there, or will be shunted off to large agri-producers. The "family farm" myth still looms large in the American cultural psyche, and now that there has been a nod in its direction, back to business as usual.
 

Saintamaniac

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It's one thing when you throw your support behind someone who you think will help you and then find that they really aren't helping you. It's another thing when you find out that person lied to you and is doing things that hurt you and you continue to support them. I say, just desserts for the ones that are being hurt and continue to support this buffoon.
 

Saint_Ward

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For agriculture, we need to stop fighting with China. Especially for the soy bean farmers.

I remember on NRP weeks ago, when talking about that bill, it was going to help a bit, but lost price value is the killer, and a portion of that aid package is for marketing to "find other markets to sell to", etc.

That last bit is hard to do, when you're having a multi country trade war..
 

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US China Trade War: India can replace US exports to China amid trade war, finds study - The Economic Times

India can now position itself to replace American farmers as a major supplier of food to China. It’s not just soybeans. Major crops like corn, wheat, and sorghum could be in the crosshairs. It’s going to be more work to get the tariffs removed than it took to get them implemented. We could see American agriculture seriously suffer long term if other nations ramp up agricultural investment.

1535487993862.jpeg
 

st dude

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The 12 billion dollar aid to farmers is nothing more than Trump buying votes from a base his policies are killing.

True Republicans with a spine would abhor this sort of measure, they used to be the party of less government.

Now they are the party of being too afraid to stand up to a president who insults their own and lies about something most every day.

I am not one to lump Republicans or Democrats together, both parties have good and bad representatives.

But the fact is the only Republicans who seem willing to take Trump on are those leaving office. The ones who will be up for reelection have traded in their principles so as not to anger Trump voters. They sit quietly on their hands as Trump insults his AG, insults our justice department, insults John McCain and praises Manafort who got convicted of tax evasion.

RIP John McCain, one of the few Republican Senators with a spine. I hate to write that, but its true. They are selling their souls to get re-elected.
 

SaintJ

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Stocks going up is not the best way to judge the health of a nation's economy. Stock prices in early 1929 were just amazing compared to historical levels.

We just had a massive tax cut for the wealthiest, who then put their money in hedge funds that invest in....the stock market.

Capital market price analysis must be balanced with debt level analysis, lower and middle class purchasing power, and a host of other factors.

This will end less well than other things in our lifetime that ended less well.
 

Saint_Ward

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Some stocks went up because it's earnings season. The overall market didn't care.. it basically broke even today.

Almost every week of the last 5 years have been record highs (minus a period in the back half of 2015 and the front half of 2016). It's pretty meaningless to say record high. That's what the long term market is supposed to do.
 

rob22278

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From the article:

The program announced on Tuesday will be funded by the Commodity Credit Corporation, which helps shore up American farmers by buying their crops. The initiative does not authorize any new money and thus does not need approval from Congress.
So they took money set aside to subsidize the farming industry and are going to make a payment to subsidize the farming industry. Yeah, this is breaking news.

How Much Do Subsidized Farmers Get Paid?

Types of Farm Sudsidies
The four types of government support received by farmers are direct commodity subsidies, crop insurance subsidies, conservation subsidies and disaster subsidies. Between 1995 and 2011, the federal government paid $172.3 billion in commodity subsidies, $46.6 billion in crop insurance subsidies, $37 billion in conservation subsidies and $21.4 billion in disaster subsidies.
 

Saint_Ward

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From the article:



So they took money set aside to subsidize the farming industry and are going to make a payment to subsidize the farming industry. Yeah, this is breaking news.
So, will that cause prices to drop more?
 

WhoDatPhan78

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Stocks going up is not the best way to judge the health of a nation's economy. Stock prices in early 1929 were just amazing compared to historical levels.

We just had a massive tax cut for the wealthiest, who then put their money in hedge funds that invest in....the stock market.

Capital market price analysis must be balanced with debt level analysis, lower and middle class purchasing power, and a host of other factors.

This will end less well than other things in our lifetime that ended less well.
If it ends less well than Lost ended, we’re all screwed
 
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The United States Department of Agriculture is currently projecting farm income to reach $88 billion in 2019. However, the American Farm Bureau Federation said in a new report that $33 billion, or almost 40%, of that income will come in the form of federal disaster assistance, trade aid, the farm bill and insurance indemnities.

The aid has been promised, but the report says farmers have yet to receive a large portion of the assistance package, which has resulted in record high farm debt. By the end of the year, that debt is expected to reach a record $416 billion.
Elections have consequences.
 

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