Kansas City Federal Reserve Warns Of Looming Farm Bankruptcies And Loss Of Farms To Follow (Video)
By Josey Wales
Did you know Federal Government land ownership is concentrated in the mineral resource rich western United states? Specifically, 62% of Alaska is federally owned, as is 47% of the 11 coterminous western states.
By contrast, the federal government owns only 4% of lands in the other states. This western concentration has contributed to a higher degree of controversy over land ownership and use in that part of the country.
Debt racked up by American farmers threatens to throw the agriculture industry out of its current economic boom and into a bust, according to a new study.
Released last month by the Federal Reserve Bank of Kansas City, the report warns that if farmers use their accumulated wealth instead of profits to finance their agricultural investments, they could end up in greater debt, risk bankruptcies and suffer the potential loss of their farms.
The big concern is for 2014 and 2015, when commodity prices are expected to fall,” said Nathan Kaufman, an economist at the Fed Bank in Kansas City and a co-author of the report.
“The Department of Agriculture has predicted a 25 percent drop in farm income in 2014, and if incomes levels for farmers fall, the tendency in the past has been for them to use their savings to keep buying equipment and land and putting themselves in bigger debt. That creates a financial crisis for them.”
Adding to the worries is a possible bust in farmland prices, which have had three years of double-digit growth, said Kaufman. That’s key because farmland accounts for 85 percent of a farmer’s assets.
“Land prices are used as collateral for many farm loans, so if they fall, that could increase the amount of debt for farmers,” Kaufman added.
Kaufman’s report states that accumulation of debt by farmers—along with rising interest rates—preceded economic busts in agriculture in the 1920′s.
A decline in farm income as well as farmland values—a land value decline of some 27 percent from 1982-1987—led to a bankruptcy rate of 23.1 per 10,000 farms in 1987, based on 2.1 million farms. That’s the highest annual farm bankruptcy rate recorded, according to the USDA.
“In both cases, we saw a rise in debt and farmers using their own wealth to finance themselves and buy tractors and other farm machinery or land,” said Kaufman. “A heavy debt-to-asset ratio was a key indicator of the busts.”
Another concern is interest rates. If they go up, Kaufman said, they will further increase farmers’ debt burden.
There has been a plan that has been implimented around the globe to secure mineral rights and farming rights for the benefit of the global population. Is this build up of commodity prices, which influenced the amount of debt/risk that farmers were willing to assume, part of the greater plan of the globalists?
Here is something you may not be aware of, this was implemented in 1993, when everyone said that is BS, it will never happen, remember??
Agenda 21 was promoted at the 1992 Earth
Summit in Rio as the global action programme
for the twenty-first century (United Nations,
It was developed in response to a
growing recognition of the need to halt the
environmental degradation and resource
depletion that has characteristically
accompanied economic growth in the
industrialised world (WCED, 1987).
aimed to address the inequitable distribution of
wealth and benefit arising from this pattern of
development both within and between nations
and inter-generationally. These combined aims
are commonly referred to as sustainable
Agenda 21 devolved the task of promoting
sustainable development to local governments
through the LA21 initiative.
Identified as major
players in the local economy because of their
role as employers, purchasers of goods and
services and local regulators, local governments
were encouraged to think globally and act locally.
LA21 urged that all local government
activities should be directed towards the
simultaneous realisation of four core objectives:
1 Environmental protection/reversal of
2 Eradication of poverty
3 Local participation of all sectors and
groups in society
4 The formation of global partnerships to
support these principles
Here is a Link to the 40 chapters of Agenda 21 sustainable development by the UN, that are now the rules for the world to live by. This includes the UK and Nevada.
Don’t ever think these two issues are not related through Agenda 21 policies. As you may have noticed from the video above these two conflicts are very much related through these newly implemented Agenda 21 guidelines.
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