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| Lots of good answers here. One thing, IMHO, that is missing is how much money the government provided in some of those years to make sure many of us did not go out of business. I remember distinctly looking at a cash flow spreadsheet and shaking my head about this.
Of course, as I've said before - this is why there were few profit opportunities too. Take away risk, and you take away those opportunities too. I've also always said that if the government had been involved in making sure I didn't lose money feeding cattle at the time, I never would have made it through the 80s.
This, again IMHO, is our dilemma today, isn't it? Take away subsidized crop insurance and let the business cycle work like it should, and we correct the imbalances rather quickly. The problem is obvious, however - many go broke rather quickly too. As with many other things - you can't have your cake and eat it too. | |
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For those who survived the 80's?
