I remember my dad ranting about how the government encouraged them to farm "fence row to fence row" and encouraging farmers to invest in efficient modern technology to allow them to "feed the world"...

Then once in debt, they (Carter administration) played politics" and exports shriveled up and there was not enough revenue to pay back the debt. Many a good farmer lost their shirts, and the farm to boot in this collapse.

My dad didn't dig his way out for another 20-30 years!