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| We hoped to break even on the farming and counted on the government check to live on and pay the rent.
Folks talk about it being good with land cash flowing, and it was a good time to get started if you had the money.
The problem was no one would loan money for anything ag related.
If you had the money, 17% at the bank is hard to spend.
We are still in the pre stages .
They said the 30's couldn't happen again right up until about 1983.
The thing that will make this worse is at that time, a job could pay some expenses, Family living cuts mattered.
Now an extravagant vacation is not even a blip on the cash flow.
Thinking about it, perhaps this time will be easier. No point in cutting back on living costs. So folks will live the good life until bankruptcy, and after they will have credit again.
Back then there was a stigma to not paying but today, folks brag about it. | |
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Hansen Mueller-Chapter 11 bankruptcy
