The Farm Crisis of the 1980s was real, up-close, and personal for me! I began my first, full-time job in Ag in Western Kansas in 1980. Within weeks of arriving on the frozen plains, interest rates soared to 21.46%. This, combined with depressed commodity prices, created very real angst for growers trying to survive. It definitely reduced job opportunities for me.
[In Iowa] “A couple of banker friends … told [the article’s author] last week that with commodity prices down and the tariffs imposed, approximately 10 percent of our farmers probably won’t make it this year, and 10 percent more will likely fail next year … [And] larger agribusinesses are buying up smaller farms that are in financial trouble … people are starting to make comparisons [between current economic trends and] the farm crisis of the 1980s when approximately 10,000 Iowa farmers lost their farms.”