US Farms Post Alarming Bankruptcies
Farms in the United States are seeing unprecidented levels of Chapter 12 Bankruptcy filings. The levels have not been seen since the 1930's and already above 2008 recession levels.
Bankruptcies in three regions major regions rose last year to the highest level in at least 10 years. The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008. In the Eighth Circuit, which includes states from North Dakota to Arkansas, bankruptcies swelled 96%. The 10th Circuit, which covers Kansas and other states, last year had 59% more bankruptcies than a decade earlier.
Keeping in mind that the US feeds the world, this could send a shockwave of rapid inflation to food prices across the globe