Cambridge, southwestern Nebraska | I started out in the early eighties so have lived both.
Yes, the eighties were a struggle. Fortunately I had very little to no debt then so high interest didn’t bother me. It was actually great for my retiring parents with CDs at the bank. We got by but today if you have any debt and are trying to buy or replace equipment, or buy land , that hurts. I remember buying good equipment cheap by the mid 80’s. Land, you could cash flow if you wanted to take the risk. Inputs were a lot lower but yields were lower too.
Land and equipment make no sense now compared to the 80’s.
Bottom line, both times depends where you are in life. I think most that are claiming the present is easy have things paid down. Are not wanting to buy equipment and are at a stage in their life they are coasting. Much easier place to be than if they were starting out in the late 70’s and had debt in the 80’s. And saw land values drop in half. |
Hansen Mueller-Chapter 11 bankruptcy
