re: #387 William Lewis

Or is it simply that the price of steel going through the roof means prices are about to spike and that will drastically decrease demand for American cars? That’s where the lead into the recession will begin and then be reinforced by rotting soybeans.

Farm bankruptcies are on the rise, and bankers worry that far more are on the way (startribune)

Eighty-four farms filed for Chapter 12 bankruptcy in Wisconsin, Minnesota, North Dakota, South Dakota and Montana in the 12 months that ended in June, according to a new analysis from the Federal Reserve Bank of Minneapolis. That’s more than double the number over the same period in 2013 and 2014, and the number of bankruptcies in Minnesota doubled over the past four years from eight to 20.

Banks are also seeing more farm borrowers fall behind on their payments, and the worst is likely yet to come.