Debt drives Indian farmers to suicide

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=bdaf698d15a3531b&cat=3a8a80d6f705f8cc

The family of young cotton farmer Kailash Jhade wanted to marry him off before the cash crop season began in June. The timing is considered auspicious, and symbolizes hope.


Demands from banks and money-lenders often trigger suicide

But the family's hopes were dashed when they discovered their eldest son's body in a communal well a few weeks ago.

Why did he kill himself? "Mounting debt," his family said.

The 26-year-old farmer's cousin, Pramod Manorathi, knew how disturbed he had been.
more...
Obviously India doesn't have good Bankruptcy laws and no laws for money lenders... Its a terrible system...

[rumpel]

1. I don't think it is much better here

the only difference is that people don't kill themselves but end up on the streets.

just visit this link

http://www.msfraud.org/

[Oversea Visitor]

2. Money lender

In Asia the poor has no assets so they cant borrow from the banks, They are credit risk.
So there are monet lenders who prey on this people.
They end up paying 10% interest a month.

It is a vicious thing, once in their hand you cant get out.

[Carni]

5. So what's different here?

Am I missing something?

[mom cat]

3. The farmers are also victims of US agricultural subsidies which

allow the US to flood third world markets with food at rates cheaper than can be grown in those countries. Also, the "green revolution" has created a more expensive form of agriculture that is bankrupting small farms here and abroad. Only agribusiness is prospering, but prospering at the expense of the planet.

[Roland99]

4. But, hey, we can let them make nukes and send our jobs there.

This farmer should obviously have left the family farm for one of those formerly American jobs.

:sarcasm:

[Irreverend IX]

6. I've heard of a project in place to stop this...

Some students from an Indian university are creating a company that loans space in granaries for very cheap rates. The idea is that farmers can store their grain after harvesting it, then sell it after the harvest season ends, allowing them to get more money for it. Don't know if it would work, though.