Well, he's not wrong. 

When all the subsidized crop insurance was being debated way back when, they wanted to put limits on the amount of subsidy a producer could receive. Either dollars or acres. That got thrown out the window. That one change might have at least helped slow things down. 

Is farming "Crashproof"? Maybe on the larger scale, but operations can certainly still go under. I agree with you, I don't think that any kind of '80's style reset is possible. But, heck, the '80's drastically reduced the number of farms and led us down this path. So, in trying not to recreate the '80's, we've created a whole different set of problems?