Farm Bankruptcies Hit 8-Year High, Coronavirus Confusion, and Slowing Growth
February 14, 2020 | FIRESIDE CHARTS
Happy Valentine’s Day, Fireside Charts readers! If your wallet’s feeling a little light this week, you aren’t alone; U.S. farm bankruptcies keep climbing and hit an eight-year high in 2019. The U.S. farmer has been struggling for a long time now and saw a ray of hope with the recent signing of the Phase One trade deal with China—and its provisions for boosted agricultural trade… But January’s deal is only a first step, and the world’s second largest economy is a little preoccupied at the moment… Though transmission of the coronavirus appears to have peaked, a huge one-day spike in cases and deliberate under-reporting has cast doubt over the scale of the epidemic. Over 30% of China’s population remains under lockdown and the expected 1% decline in economic growth will have global implications. The effects could be particularly worrisome for Germany and Mexico, where growth was struggling long before the onset of the epidemic. Let’s hope these recent reports of a vaccine have merit…
1. We have blogged often how the U.S. farmer is taking the brunt of the trade war’s effects…
Source: Statista, from 2/12/20
2. With all due respect, sometimes data from China is highly suspect.
Source: WSJ Daily Shot, from 2/12/20
3. It is worth noting that China’s share of the global economy is ~10x what it was during the SARS outbreak. The effects will be felt; the questions are how deep and for how long?
Source: WSJ Daily Shot, from 2/13/20
4. Mexico’s economy is struggling even worse than Germany’s…
Source: WSJ Daily Shot, from 2/13/20
5. Looking for a weekend activity?
Source: Statista, from 2/11/20
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