Farm Bankruptcies

More news from the "greatest economy in history" according to the Donald:

" U.S. farm bankruptcy rates jumped 20% in 2019 - to an eight-year high - as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data."

https://www.reuters.com/article/us-usa-farms-bankruptcy/u-s-farm-bankruptcies-hit-an-eight-year-high-court-data-idUSKBN1ZT2YE

More economic news:

"Gross domestic product expanded at a 2.1% annualized rate for a second straight quarter, according to Commerce Department data Thursday. The median forecast in a Bloomberg survey of economists called for 2% growth.

Consumer spending decelerated to a 1.8% pace, below projections and the weakest since the first quarter. Business investment declined for a third straight period, the longest stretch since the last recession.

A closely watched gauge of underlying demand grew at the slowest rate of the year. So-called final sales to domestic purchasers, which exclude the volatile trade and inventories components of GDP, expanded 1.6% in the fourth quarter. Excluding government purchases, final sales advanced just 1.4%, the weakest in four years."

https://www.investors.com/news/economy/gdp-growth-held-steady-q4-slowed-full-year-2019/

I have always said that generally Presidents get too much credit when the economy is good and too much blame when it isn't, but the figures show the US economy isn't all that the Average Joes of the world claim it to be. Trump's policies are blowing up the federal deficit to the tune of $1 trillion for FY 2020 and thus retain some stimulative effect, but the country hasn't come anywhere close to the consistent 4-5% per year GDP growth he and his advisers promised if his policies were put into place. https://www.realclearpolitics.com/video/2017/12/16/trump_were_going_to_see_economy_growth_of_4_5_and_maybe_6_percent.html



True economic progress will only occur when progressive policies are implemented.

Trump in September 2016:

"Donald Trump thinks American GDP can grow more than 4 percent under his policies, more than double the average rate the U.S. has seen in this century."

"Trump contended his 4 percent growth goal will “reduce the deficit.”

https://www.cnbc.com/2016/09/15/trump-claims-his-economic-plan-would-create-35-annual-gdp-growth.html

Instead, we got a bit over 2% growth in 2019 and a tripling of the deficit.

@no1marauder said
More news from the "greatest economy in history" according to the Donald:

" U.S. farm bankruptcy rates jumped 20% in 2019 - to an eight-year high - as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data."

https://www.reuters.com/article/us-usa-farms-bankruptcy/u-s-farm-bankruptcies-hit-an-eight-year-high-court-data-idUSKBN1ZT2YE

@averagejoe1 said
You old boys is short sighted...... libs know not of patience.

Gunna be fun come November eh?
Win or lose it will be fun.

@averagejoe1 said
You old boys is short sighted...... libs know not of patience.

@no1marauder said
More news from the "greatest economy in history" according to the Donald:

" U.S. farm bankruptcy rates jumped 20% in 2019 - to an eight-year high - as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data."

https://www.reuters.com/article/us-usa-farms-bankruptcy/u-s-farm-bankruptcies-hit-an-eight-year-high-court-data-idUSKBN1ZT2YE