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Response to Wellstone ruled (Reply #17)

Wed Jul 11, 2018, 02:49 PM

30. Your acquaintance

Your friend has been counting on bailouts, in one form or another, for the last 30 years. Corn has never made sense in the huge volumes it is produced in the US. The same goes for dairy.

In both sectors vast over-investment has led to an endless cycle of low prices leading to farm failures leading to government subsidies leading to increased investment by those hoping to take advantage of subsidies, leading to overproduction, leading to low prices... repeat ad museum.

Not only do these bailouts provide a false sense of security to farmers, they stop them from facing the facts of life, and rethink their business model.

Worse, this is ridiculously expensive for American tax payers. If 30 years ago the government had had the courage to pay for those farmers to switch crops or rethink the land use altogether, then the US agriculture would not be in the mess it finds itself today.

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