Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
So where do all those farm subsidies go that we
have to pay out on a regular basis? If your
call wasn't too long ago, I got a little irate
with Scott Bessett. Scott bessen I don't know, one of
these weekly appearances that he makes on the Sunday Talkers
telling everybody that everything is awesome and great. They were
(00:37):
talking about farmers and soybeans and issues with China, and
Scott Bessant came out and Sorr, did you.
Speaker 1 (00:45):
Know that I'm a farmer?
Speaker 2 (00:47):
I'm a farmer. I'm like, you're a farmer. No, he's
not a farmer. Okay, he's not a farmer. He owns
farm land that he rent to. A farmer. Okay. If
you have a garden in your backyard growing some you know,
tomatoes and maybe some cucumbers and eggplant over the summer,
(01:10):
you are more of a farmer than Scott besson is.
So yeah, when he came out and said that, I'm like,
shut up, man, come on anyway, subsidies, subsidies, farm bailouts,
because again that's what we're hearing about again. China was
supposed to be buying millions and millions and tons of
(01:32):
soybeans by the end of the year. That didn't happen.
That didn't happen, nor did I expect it to. You
take a look at the actual numbers they were going
to buy. It was preposterous, quite frankly. Anyway, over the
past eight years, some interesting numbers. The United States government
has sent one hundred and thirty billion dollars in emergency
(01:55):
we emergency A to f and again I never what
this doesn't make it. I mean, something's wrong with this.
Food is so expensive here in this country we all
have to eat. You're selling a product that everybody has
to buy. Where's the disconnect here, Well, the money isn't
(02:20):
going to farmers, it's going to big egg, It's going
to major corporations. So say farmer gets a bailout, that
money immediately gets redirected to corporations that they owe for seeds, fertilizer, machinery,
(02:45):
anything that they need to farm. The costs. Those costs
for the seeds, fertilizer, machinery have tripled. Those impacosts have
tripled since the nineteen nineties. The things that farmers need
they're paying a lot more. The prices for their crops
(03:07):
are barely enough to cover it, getting very close to
breaking even now. The big mega corps they're raking in
huge profits. Who on Santo Bear they merged in twenty fifteen.
No one stopped them from doing that. Only a handful
of companies control almost everything seeds, fertilizer, and machinery. So
(03:31):
farmers might gross about five hundred dollars an acre, they're
paying four hundred and ninety dollars for inputs. Think about
that for so whether again, the corporations know this, and
(03:52):
they also they also know that the taxpayer will step
in and bail out the farmers. Farmers can't do it
right now. People got to eat here in this country.
The corporations are well aware they're too big to fail, right,
They're too to big fail. Taxpayer is going to have
to send more money. So you know, that's not like
that the corporations are going to lower their prices. They're
(04:14):
just going to take the bailout money. The entire agriculture
industry is a complete scam. I'm saying this for some time.
You know, be nice, want to lower prices? Yeah, you
know who to target, you know who to go after again,
break up these crazy monopolies in these areas. I can't
even believe they allow them to exist in the first place.
(04:37):
For crying out luck. It's talk about socialism, man Domini
and all this stuff. It's pretty close to that as is.
I don't remind everybody that you know, Andrew Carnegie was
they would have loved the government to socialize or oh sure,
I want to socialize. Look fantastic, will be the only
game in town? How many games in town? Just just a couple? Boy,
(05:00):
That's that's some power, isn't it. Watch Dog on Wall
Street dot Com