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| I grew up in the 80's and though I was too young to grasp the seriousness of our situation at the time, I did understand times were very tough. Looking back now I appreciate my parent's sacrifices and efforts even more.
I understand what happened to guys who were paying too much interest on too many acres with too little equity and too little profit. I can understand how that trickled down to affect machinery dealers and the whole ag economy in general that was dependent on farmer's $ to make their payroll.
My question is this: How did this all affect retailers selling chemicals, seed, fuel, and other "necessities" that could not be cut? I'm sure there were enough bankruptcies that some of these guys were taken down as well? People had to buy seed though, right?
I am sure seed beans were pulled straight from the bin, cultivators were used more for weed control, and fertilizer was rationed. But seed corn and fuel had to be bought.
I can see places in my budget where I could maybe cut some up front seed and chemical costs, but I'm not confident I could do so without sacrificing yield. More yield is the best way I see to lower my cost of production.
The most expensive money I've ever borrowed was 10%. Thanks! | |
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For those who survived the 80's?
