The Farm Debt Crisis of the 1980s

The Farm Debt Crisis of the 1980s
Author: Neil E. Harl
Publisher: Blackwell Publishing
Total Pages: 305
Release: 1990
Genre: Business & Economics
ISBN: 9780813811888

Harl was actively involved in advising state and federal policy-makers on the nature and severity of the crisis. Here he identifies contributing economic forces; describes efforts to deal with the problem; recounts experiences in dealing with politicians, bureaucrats and others; and identifies 12 lessons that should have been learned from the farm debt crisis. Annotation(c) 2003 Book News, Inc., Portland, OR (booknews.com)

Debt and Dispossession

Debt and Dispossession
Author: Kathryn Marie Dudley
Publisher: University of Chicago Press
Total Pages: 228
Release: 2002-05-15
Genre: Business & Economics
ISBN: 9780226169132

Explores the social impact of the farm debt crisis of the 1980's through interviews with members of an agricultural community.

The Farmer's Lawyer

The Farmer's Lawyer
Author: Sarah Vogel
Publisher: Bloomsbury Publishing USA
Total Pages: 433
Release: 2021-11-02
Genre: Biography & Autobiography
ISBN: 1635575257

With a new foreword by Willie Nelson "An exquisitely written American saga." --Sarah Smarsh The "remarkably well told and heartfelt" (John Grisham) story of a young lawyer's impossible legal battle to stop the federal government from foreclosing on thousands of family farmers. In the early 1980s, farmers were suffering through the worst economic crisis to hit rural America since the Great Depression. Land prices were down, operating costs and interest rates were up, and severe weather devastated crops. Instead of receiving assistance from the government as they had in the 1930s, these hardworking family farmers were threatened with foreclosure by the very agency that Franklin Delano Roosevelt created to help them. Desperate, they called Sarah Vogel in North Dakota. Sarah, a young lawyer and single mother, listened to farmers who were on the verge of losing everything and, inspired by the politicians who had helped farmers in the '30s, she naively built a solo practice of clients who couldn't afford to pay her. Sarah began drowning in debt and soon her own home was facing foreclosure. In a David and Goliath legal battle reminiscent of A Civil Action or Erin Brockovich, Sarah brought a national class action lawsuit, which pitted her against the Reagan administration's Department of Justice, in her fight for family farmers' Constitutional rights. It was her first case. A courageous American story about justice and holding the powerful to account, The Farmer's Lawyer shows how the farm economy we all depend on for our daily bread almost fell apart due to the willful neglect of those charged to protect it, and what we can learn from Sarah's battle as a similar calamity looms large on our horizon once again.

Anatomy of an American Agricultural Credit Crisis

Anatomy of an American Agricultural Credit Crisis
Author: Kenneth L. Peoples
Publisher: Rowman & Littlefield Publishers
Total Pages: 176
Release: 1992
Genre: Business & Economics
ISBN:

In the early eighties, the unthinkable began to happen to the farm sector and its financial institutions. The outlook for commodity prices and farm income worsened abruptly as an export boom collapsed with little warning. Most farmers had just experienced their most prosperous decade ever and were relying heavily on credit to continue the rapid growth of their income and wealth. As it became increasingly hard for farmers to repay their debts, the financial trouble spread to financial intermediaries with significant involvement in farm lending: commercial banks, some of the larger life insurance companies, and the Farm Credit System. It turned out that the downward spiral of the farm credit crisis had reached bottom in 1986, as judged from farm loan delinquency rates and farmland prices. A remarkable recovery ensued, based in large part on huge government income payments to farmers and further aided by the restoration of order to the operations and viability of the Farm Credit System. The story of these tumultuous years of boom and bust is vividly presented in this book, by analysts and administrators who were immersed in the unfolding events and engaged in studying, devising, or administering governmental policies and actions.

Debt Finance Landscape for U. S. Farming and Farm Businesses

Debt Finance Landscape for U. S. Farming and Farm Businesses
Author: J. Michael Harris
Publisher: DIANE Publishing
Total Pages: 64
Release: 2010-02
Genre: Business & Economics
ISBN: 1437925561

Income and wealth for farm bus. have changed noticeably this decade. Debt levels have been rising, asset levels have outpaced debt despite a recent fall in land prices, and equity has more than doubled for farm bus. However, recent declines in farm income and falling land prices have raised concerns about the financial position of U.S. farms. Total farm sector debt reached a record $240 billion in 2008, a $26 billion increase over 2007. Debt is expected to decline to $234 billion in 2009. In 1986, nearly 60% of farms used debt financing. By 2007, the number had dropped to 31%. In essence, farm debt has become more concentrated in fewer, larger farm businesses. Lenders and farm operators indicate that real estate accounts for the largest use of farm debt.

The Farm Financial Crisis

The Farm Financial Crisis
Author: Steve H. Murdock
Publisher: CRC Press
Total Pages: 205
Release: 2019-09-13
Genre:
ISBN: 9780367292089

After nearly a decade of prosperity, rural America entered the 1980s with its agricultural base facing a severe financial crisis. Land values, export markets and the general demand for agricultural commodities were declining while the levels of indebtedness reached during the 1970s were becoming increasingly difficult to manage. By the middle of the 1980s, the existence of a crisis was apparent in farm failure rates that had reached levels that had not occurred since the 1930s and in the fact that large numbers of agricultural banks were failing and agencies that provide loans to farmers and ranchers were experiencing unprecedented losses. Small towns in agriculturally dependent rural areas were losing businesses, populations and related services, and extremely high rates of socioemotional problems were noted among rural residents in agriculturally dependent areas of the nation.