Southeast Wyoming | aray63 - 11/3/2013 14:48 INSTEAD OF 21 % INTEREST WE PAID IN THE EARLY 80S ISNT HIGH COST RENT HIGH COST SEED FERT, LAND KINDA THE SAME AS THE INTEREST RATE WAS33 YEARS AGO. MAYBE CORN IS CHEAPER NOW THAN THEN ESP IF YOU FIGURE INFLATION DONT KNOW ABOUT BEANS. BUT SEED FUEL MACHINERY AND FERT AND LAND RENT WERE NOTHING COMPARED TO TODAY BOYS IF THIS THING KEEPS GOING LIKE IT IS NOW WOO HOS LOOKE OUT ARCHIE
The high interest rate was locked in on "assets" that were actually more like liabilities due to declining value. The interest was still due. We may be looking at that decline again soon but right now with the lower interest and a better land prices, there is a chance of recouping the price that you paid for assets.
The cost of rent, seed and fertilizer are input costs that you have some control over. Interest due was not something we had control over without selling at a terrific loss. Many not only lost their life savings/investment, but incured a lot of debt that was still owed. |
Anyone hearing a few rumblings in their community
