Economic growth

Tough times in farm country

Illustration of a wooden coffin made from barn materials.
Illustration: Aïda Amer/Axios

America's farmers are living through the worst economic crisis in almost 30 years, driven by low commodity prices, trade war pressures and record flooding.

Why it matters: What's ravaging U.S. farms are part of a trend that's upending economies and regions around the world. That may make this heartland downturn different from the ones before it. As NYT columnist Paul Krugman writes, rural America is being "undermined by powerful economic forces that nobody knows how to stop."

The economy could provide Trump a boost in 2020

Trump stands at a podium while holding papers in one hand, with the American flag behind him. A crowd watches.
Photo: Andrew Spear/Getty Images

President Trump has a good shot at re-election 2020, according to multiple economic models maintained by market strategists that "tend to ignore election polls and personal characteristics of candidates" and instead focus on the strength of the economy and advantages held by incumbent presidents, Politico reports.

Our thought bubble, per Axios' Dion Rabouin: Despite growing fear on Wall Street, economists predict the economy will keep humming along, so that should provide a boost to Trump's re-election chances. One caveat is that Trump's policies have worsened income inequality and raised prices, which a savvy opponent will be able to use to their advantage.

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