General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump has still done NOTHING on the supposed bailout of the soybean farmers
He's been talking about it for at least six weeks very vocally, but was presumably holding off because he thought negotiations with China on tariffs would solve it. Obviously, after his meltdown on China of last Friday, there's no relief coming from new orders, and it's probably too late for that anyway.
In two weeks, many of these farmers will have bills due that were supposed to be covered by the sales, which are non-existent. China hasn't bought a US soybean since May. Trump said he would pay "our great farmers" with tariff funds, but how? And with the government shut down, who is going to collect those applications and press those buttons?
This is affecting other agricultural products as well.
Is he going to wave a magic wand on Halloween and hope for the best?
Wounded Bear
(63,859 posts)Prairie Gates
(7,215 posts)Correction: some might go to Frankfurt, Tokyo, and Zurich.
Strelnikov_
(8,108 posts)US Tax dollars in . . . untraceable private equity out
rsdsharp
(11,798 posts)China can meet their needs, cheaper, from Argentina and Brazil, without the threat of lunatic tariffs.
TheFarseer
(9,754 posts)That Trump is actually bailing out American investors that invested in risky Argentinian stocks/funds/bonds/ currencies and were about to lose their ass when he handed Milei $20 billion. This needs to be looked into.
leftstreet
(38,875 posts)Link to tweet
Prairie Gates
(7,215 posts)Bessent literally said just that.
GusBob
(8,136 posts)I read soybeans store well so there's that. But and I do say but, China may never buy from US again
So off goes the crop to cow feed. The farmers need income to keep the lights on and their equipment maintained, etc
Without which there will be bankruptcies fer sure by Spring.
The effects could be long lasting, even if the bailout is tomorrow
Strelnikov_
(8,108 posts)then over the course of the next year find a way to dispose of them at as little loss as possible.
IMHO this is a better 'scheme' then a slush fund that only the connected will be allowed to the teat.
Also, it directly addresses the 'entitlement' issue, the farmers could not sell their crop due to the US initiated trade war, so the US will buy the crop. Also would be easily auditable.
Dollars to doughnuts, though, the farmers will scream that the $14B in sales lost will not be sufficient. Looks like they are angling for a $50B slush fund.
republianmushroom
(22,123 posts)Hand behind back with fingers crossed.
Christ, the dude has stiffed everybody what make one think he won't stiff these farmers ?
Hotler
(13,738 posts)Johonny
(25,506 posts)He has his priorities in order.