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Fourth generation crop farmer John Boyd checks a soybean field for harvesting in Baskerville, Virginia. Photo: Melina Mara/The Washington Post via Getty Images

Farmers and business owners' reluctance to invest in farming equipment has resulted in a $900 million annualized spending drop, Bloomberg reports.

The big picture: This is the steepest decline in farm equipment purchases in 3 years. In February, federal data showed that U.S. farmers in the Midwest were filing for bankruptcy protection at levels the country had not seen for approximately a decade. Last year, farm profits sunk to $69.4 billion — that's half of 2013's $136.1 billion in profits, per Bloomberg. President Trump's trade wars have contributed to the ongoing nosedive in prices and decrease in profits for farmers.

Go deeper: Farmers endure another crushing week as Trump trade war drags on

Go deeper

Off the Rails

Episode 7: Trump turns on Pence

Photo illustration: Eniola Odetunde/Axios. Photos: Elijah Nouvelage, Alex Wong/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 7: Trump turns on Pence. Trump believes the vice president can solve all his problems by simply refusing to certify the Electoral College results. It's a simple test of loyalty: Trump or the U.S. Constitution.

"The end is coming, Donald."

The male voice in the TV ad boomed through the White House residence during "Fox & Friends" commercial breaks. Over and over and over. "The end is coming, Donald. ... On Jan. 6, Mike Pence will put the nail in your political coffin."

Big Tech's post-riot reckoning

Photo illustration: Sarah Grillo/Axios. Photo: Tasos Katopodis/Getty Images

The Capitol insurrection means the anti-tech talk in Washington is more likely to lead to action, since it's ever clearer that the attack was planned, at least in part, on social media.

Why it matters: The big platforms may have hoped they'd move to D.C.'s back burner, with the Hill focused on the Biden agenda and the pandemic out of control. But now, there'll be no escaping harsh scrutiny.

29 mins ago - Technology

Why domestic terrorists are so hard to police online

Illustration: Eniola Odetunde/Axios

Domestic terrorism has proven to be more difficult for Big Tech companies to police online than foreign terrorism.

The big picture: That's largely because the politics are harder. There's more unity around the need to go after foreign extremists than domestic ones — and less danger of overreaching and provoking a backlash.