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Thu Sep 2, 2021, 04:19 AM

Black US farmers awaiting billions in promised debt relief

BOYDTON, Va. (AP) — There was a time when Black farms prospered.

Just two generations out of slavery, by 1910 Black farmers had amassed more than 16 million acres of land and made up about 14 percent of farmers. The fruit of their labors fed much of America.

Now, they have fewer than 4.7 million acres. Black farms in the U.S. plummeted from 925,000 to fewer than 36,000, according to the U.S. Department of Agriculture's latest farm census. And only about one in 100 farmers is Black.

What happened?

They were able to overcome the broken promise of “40 acres and a mule” to the newly freed slaves — a military order, later rescinded. But over the last century, they faced one obstacle after another because of their race.

Farmers needed loans to expand, to buy seed, to bridge the time between harvests. But lenders — chief among them, the USDA — often refused to give them money, and often rushed to foreclose. Suppliers and customers undercut them. Laws of inheritance led to the breakup of homesteads.

Read more: https://theeagle.com/news/business/black-us-farmers-awaiting-billions-in-promised-debt-relief/article_642d94b1-58f8-55a3-99ea-9b3fc42e0375.html
(Bryan-College Station Eagle)

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Reply Black US farmers awaiting billions in promised debt relief (Original post)
TexasTowelie Sep 2 OP
DanieRains Sep 2 #1

Response to TexasTowelie (Original post)

Thu Sep 2, 2021, 04:28 AM

1. Use Some Of The 4 Trillion The Fed Printed To Buy Stocks To Prop Up The Hedge Funds

Not that hard.

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