Share this on:
 E-mail
297
VIEWS
0
COMMENTS
 
SHARES
About this iReport
  • Approved for CNN

  • Click to view mskents's profile
    Posted January 19, 2014 by
    mskents
    Location
    Palmer, Texas
    Assignment
    Assignment
    This iReport is part of an assignment:
    Abandoned buildings

    More from mskents

    Abandoned Farms

     

    CNN PRODUCER NOTE     mskents says she was taking photos of the bluebonnets, 'and the abandoned farm house seemed like an interesting contrast next to the fresh bluebonnets. I was wondering who use to live in the abandoned home.'
    - dsashin, CNN iReport producer

    This abandoned farm in Texas could symbolize the farm crisis in the 80's which happened all over the United States. Many had to leave their farms because the bank took them over.

    It started with lower trade barriers together with Soviet purchases of American grain. It caused a sharp increase in agricultural exports where farm incomes soared. It sounds like a good thing but our government lowered Federal Land Bank restrictions for farmland purchases in the seventies leading to higher land values. Low interest rates persuaded many farmers to go into debt thinking land valued would keep rising.

    But when there is a bubble it has to pop and the agricultural boom didn't last long. It hit the middle farmer the most because they didn't have the money of the large farm to pay off their debt. Farm debt had risen to 215 billion dollars. More than one third of the America's commercial farmers were in serious trouble. For the first time in history, the total of interest payments on farm loans exceeded total net farm income. Farm foreclosures rose.

    The picture of the abandoned farm might be a warning to the United States to get out of debt and pay off their loans. Let's keep our country strong and buy goods which say made in the United States.
    • TAGS:

    • GROUPS:

    What do you think of this story?

    Select one of the options below. Your feedback will help tell CNN producers what to do with this iReport. If you'd like, you can explain your choice in the comments below.
    Be and editor! Choose an option below:
      Awesome! Put this on TV! Almost! Needs work. This submission violates iReport's community guidelines.

    Comments

    Log in to comment

    iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.

    Add your Story Add your Story