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West Central IA | You can do the same thing without the bank or Insurance company. All you need is the amount you would be borrowing in cash to spend on your inputs as you need them. It's not rocket science, but you need to implemnnt this long before you get into financial trouble. It is most likely too late for just about everyone at this point as we are already on the slide down and as it picks up speed there is no reprieve possible if you are not in good financial standing. I have seen a projection of a 50% downturn in ag land values and more than that in machinery values. Poo Poo those numbers if you like, they are just projections. A prudent person would look at those values and see what it will do to their operation and bottom line and if they believe those numbers are possible, make changes to avouid catastrophy. Not seeing those numbers coming to fruition in the 80's is why a lot of the pain and suffering took place in the 1980's ag decline. | |
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Farming Without the Bank
