Comments by "Ace1000ks1975" (@Ace1000ks19751982) on "Voice of America"
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huntlywestside, you don't know anything about farming or the economy. The profit margins are small, like 2 to 3%. Farmers need to buy a lot of things, like tractors, harvesters, seeds, chemical fertilizers, pesticides, etc. They have to borrow money to buy these things. If they have a bad season, they can go bankrupt just like that.
We will see what happens in a year that's it. I am 100% sure, this economy will crash.
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hunlywestside, farms surviving this will depend on a few thing, like does the farmer have deep reserves of cash to take the losses, can they adapt fast enough, and can they replace the market they lost.
It isn't just to affect farmers, it will affect the people who sell the stuff to the farmers, like the tractor manufacturers, people who sell seeds to farmers, the petro-chemical industry, etc. It will have a ripple effect on the economy.
Most of the farms we have today are large industrial/corporate farms that focus on mono culture. They grow just a few key crops, like soy, corn, wheat, etc. If they start cutting back, it will affect other sectors of the economy, like I stated earlier.
In turn if those other industries are affected in a negative way, they will lay off hundreds of thousands of people. That will have another ripple affect on local economies. The people who once had jobs will affect restaurants, and other local businesses. People who lose jobs will default on loans, and cause more foreclosures. You will have a lot of farm bankruptcies too. You have to take other things into account, like foreigners not buying treasury bonds or U.S. debt. This will cause interest rates to go up and up. Putting additional burdens on the population; after all, the U.S. population is heavy in debt. Making interest rates highers will only compound the interest. It will be painful, and we will have a 2008 type of recession. I am absolutely sure of it.
Interest rates going up would be a good thing for me, I would just move all of my money into a savings accounts and accrue high interest rates. For most Americans, it would be devastating.
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Kevin Cline It really depends on what you do for a living. I live in Los Angeles, and my rent is about $2995/month almost $3000/month. I am a independent contractor, but I do more specialized work, like computer programming, deal with servers, creating websites, maintain computers, and stuff like that. The prices I can charge are variable. With these smartphone based gigs, the prices are set by the app developer. I don't know how you can survive with such jobs.
Independent contractor thing seems to work if you have a high level of education or skill. There are physicians, engineers, dentist, nurse practitioners, registered nurses, software/web developers, technologists, technicians, architects, lawyers, brokers, accountants, authors, etc that are also independent contractors. The difference between these people, and people who use smartphone apps is that they can charge whatever they want. In a sense, they are independent operators of their own businesses or practices. They have licenses, degrees, and skills that everyone can't do.
For me, $3000/month is not really a big chuck of my income, I can afford it, and still have money left over. I have to say being a independent contractor vs. working at a company full time has been more difficult. The work is not always stable, the hours suck, and the rate is variable. If you have clients that know and trust you then you can get higher fees. If you have wealthy clients, they can give you very generous compensation for your work. If you have crappy clients, they can really waste a lot of your time and pay very little. It is much better to work at a company and make a stable salary. It is what it is now, employers don't want to pay benefits, and it is cheaper to hire people when they are needed vs. hiring them to be there 8 hours a day.
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