Bankruptcy-related job losses invoke grim reminders of Great Recession

Discussion in 'Economics & Trade' started by Pro_Line_FL, Aug 8, 2019.

  1. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Bankruptcy numbers would be far worse if we were not bailing out failing farmers.

    And yes, this IS direct result of bad economic policies by the Trump admin. People who favor trade wars hope to win by punishing other nations more than they punish their own country, but the problem is that they still punish their own country.

    https://www.msn.com/en-us/money/mar...-grim-reminders-of-great-recession/ar-AAFqBUK

    In the first seven months of the year, U.S.-based companies announced 42,937 job cuts due to bankruptcy, up 40% from the same period last year and nearly 20% higher than all bankruptcy-related job losses last year, a report released Tuesday concluded. Despite record-low unemployment, bankruptcy filings have not claimed this many jobs since the Great Recession.

    “It is the highest seven-month total since 2009 when 50,258 cuts due to bankruptcy were announced,” according to the report by outplacement and business coaching firm Challenger, Gray & Christmas. “In fact, it is higher than the annual totals for bankruptcy cuts every year since 2009.”
     
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  2. 61falcon

    61falcon Well-Known Member

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    Definitely not a good sign for our economy.
     
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  3. OldManOnFire

    OldManOnFire Well-Known Member

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    First, it is critical that the US maintains farming to levels that can feed everyone. This is a national security issue.

    But when stupid policy and politics threatens this national security...it's time to get rid of the idiot making the decisions!
     
  4. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    It is important to be self-sufficient, but we are headed to a government operated agricultural system much like the USSR had. Our farmers got used to the international trade, and now that Trump is killing it off, they are on verge of going under. They survive only with taxpayer aid.
     
  5. Blaster3

    Blaster3 Well-Known Member

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    pure bs... if we didnt import most of our food products, then our farmers would be billionaires selling domestically...
     
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  6. Spim

    Spim Well-Known Member Past Donor

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    fortunately those workers, at least the good ones will likely find work by Friday.

    The crappy or lazy ones I'm not so confident.
     
  7. OldManOnFire

    OldManOnFire Well-Known Member

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    Interesting that this is the precise definition of SOCIALISM...
     
  8. OldManOnFire

    OldManOnFire Well-Known Member

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    According to your government the US imports 15% of it's food products.
    https://www.fda.gov/food/importing-food-products-united-states/fda-strategy-safety-imported-food

    American consumers demand food products throughout the year, many times when certain foods cannot be produced in the US. These imports also increase the US economy because of their collateral impacts.
     
  9. Blaster3

    Blaster3 Well-Known Member

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    yeah, right :rolleyes:... try lookin on the shelves in our grocery stores, here there's hardly anything domestic
     
  10. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Yes. Socialism=Government owned and operated means of production.
     
  11. flyboy56

    flyboy56 Well-Known Member Past Donor

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    PBS article dated Aug. 2009.

    https://www.pbs.org/newshour/economy/why-does-the-govt-pay-farmers

    Question: Why does the government pay farmers not to grow crops?

    Robert Frank: Paying farmers not to grow crops was a substitute for agricultural price support programs designed to ensure that farmers could always sell their crops for enough to support themselves. The price support program meant that farmers had to incur the expense of plowing their fields, fertilizing, irrigating, spraying, and harvesting them, and then selling their crops to the government, which stored them in silos until they either rotted or were consumed by rodents. It was much cheaper just to pay farmers not to grow the crops in the first place.



    Of course, paying people not to do work is bound to be politically awkward (think of the old New Yorker cartoon of an accordion player on a subway platform with a sign next to his cup that read, “Will not play Lady of Spain, 25 cents”). So the government described the program as an environmental one rather than an income maintenance scheme. As described to the public, it was compensation to farmers for retiring acreage to reduce fertilizer and pesticide runoff into the nation’s water supply.
     
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  12. 61falcon

    61falcon Well-Known Member

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    Like our oil industry and farming community and sugar growers and medical devices and drug companies who receive government subsidies???
     
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  13. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Sure, the farmers could pick up some IT jobs in the silicon valley.
     
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  14. JakeStarkey

    JakeStarkey Well-Known Member

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    I have no problem bailing out farmers as long as we make sure that it is not a gimmick to bail out Trump's failed protectionist plans.
     
  15. Spim

    Spim Well-Known Member Past Donor

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    Or maybe they could become sportscasters, pop stars, fighter pilots.
     
  16. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    NPR quite interviewing farmers, hoping to hear something negative about Trump, because everyone they interviewed supported what Trump is doing.
     
  17. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Trump it throwing tax-payer money at the mega-farms, so they might still support him in order to keep the money taps open, but the smaller farmers dont have anything nice to say about the situation.
     
  18. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Link?
     
  19. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Is your Google in the shop?

    Bulk of Trump's U.S. farm aid goes to biggest and wealthiest farmers: advocacy group

    https://www.reuters.com/article/us-...althiest-farmers-advocacy-group-idUSKCN1UP28K

    WASHINGTON (Reuters) - More than half of the Trump administration’s $8.4 billion in trade aid payments to U.S. farmers through April was received by the top 10% of recipients, the country’s biggest and most successful farmers, a study by an advocacy group showed on Tuesday.
     
  20. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    LOL, no link?

    Even your article states that the more acreage, the more money. Isn't that logical?
     
  21. JakeStarkey

    JakeStarkey Well-Known Member

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    Yup, megabusinesss service at small business expense.
     
  22. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Its interesting how you argue there was no link, and then quote from the link....

    I hope you get your Google fixes soon.

    But wait, there is more!

    ‘From bad to worse’: tariff-hit US farmers urge Donald Trump to settle trade war
    • Calls from agricultural groups to break stalemate through deals with China and Mexico or prioritising markets elsewhere
    • Pig farmers push for speedier settlement while soybean farmers have ‘no hope of making any money’

    https://www.scmp.com/news/china/dip...rs-urge-donald-trump-resolve-trade-war-latest

    American farmers have “lost all hope” for a satisfactory resolution to the US-China trade war, and are pushing their government to turn to new markets after the sudden escalation in tensions last week.

    US agricultural exporters such as soybean and pork producers have suffered major losses over the past year since Chinese tariffs were placed on thetir goods, and fear the protracted dispute will keep them out of the Chinese market for a long time to come.
     
    Last edited: Aug 9, 2019
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  23. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Man, you sure have trouble following along. You have yet to produce a link showing
    Sure, I quoted from your link which you think was about
    Instead you only proved that more money goes to larger farmers because they have larger farms.
     
  24. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    I made two points, and have provided a link to support both. Get over yourself, and for crying out loud, get that Google fixed.
     
    Last edited: Aug 9, 2019
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  25. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Nope, you have still provided no link to your claim
     

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