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| Did a little equip shopping today. Bunch of dealers way long in machinery. Not willing to deal much yet, suspect they got too much into the pieces. Big auction yard full also. See a train wreck coming specially if jpartners numbers are correct.
Lived thru the 80's, the excesses today are very similar.
Many don't heed the warnings, I suspect the banks will pull the plug quicker this time ,unless they have forgotten the beating they took before.
Yeah the equity and cash position may have been a little stronger this time, however those can disappear quickly when a,400,000 dollar combine devalues by half and land by a third.
Those who have witnessed the 80s recognize the hints that are born everyday day now of another ag calamity on the horizon.
The numbers are much bigger this time.
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The trap has been set.
