America is great at farming. For decades now country after country have visited American farmers
Via Indiana Economic Digest –
Gov. Mike Pence and Sen. Joe Donnelly are seeking a disaster declaration to help farmers whose crops have been damaged from the summer’s high rain levels.
In 50 counties, reported crop damage and losses have met or exceeded 30 percent of a crop, and three counties have experienced a significant number of damages and losses to multiple crops, according to a news release. Under a disaster designation, low-interest emergency loans will be made available to all producers suffering losses in that county, as well as in counties contiguous to a disaster-designated county.
The National Weather Service reports rains set a statewide June rainfall record with a state average of 8.99 inches. The previous record was 8.13 inches set in June 1958.
Kokomo Tribune writer Josh Sigler provided a good investment piece about why farming is an excellent investment. I blog about farmers and farming because the lack of respect towards the industry by people is simply naive. Here’s a snippet of the article that should give the world pause in how exceptional farmers in the United States are:
In 1928, the world’s population was 1.2 billion people. The United States made up 10 percent of that population, and at the same time, provided 10 percent of the world’s agricultural output.
By 1968, the world’s population had ballooned to 3.5 billion. The U.S. made up 6 percent of the world’s population, but increased its agricultural output, providing 20 percent of the world’s crops, doubling the output in 40 years.
Those numbers continued along the same path, and by 2012, the world’s population rose to over 7 billion. The U.S. now makes up 3 percent of the world’s population, but in modern times, produces 30 percent of the world’s agricultural output.
The world has a long way to go in catching up to the United States.
H/T Indiana Economic Digest