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NE ND | The problem is social media just started getting hot when the last farming boom came-about. They all see pictures of shiny new equipment that costs "millions of dollars", but have no clue how it's paid for, or not paid for in some cases. You see people posting things about their new equipment, but you never see people bragging about how much they made on their bank foreclosure sale. Farming is a very risky business, less so with crop insurance, but that only goes so far. I always ask people if they would be willing to risk their entire life savings to be able to farm, with a chance that they could lose it all in a year. That usually shuts them up pretty quickly. With great risk, comes great reward.
Ask those people, that if they had the chance and wanted to farm a couple thousand acres, could they sign on the dotted line? Would they take out an operating loan for over a million dollars, not knowing if they can pay even half of it back at the end of the year? Maybe they will make a couple hundred thousand, or maybe they will lose 500k. My bet is 90% of people wouldn't sign the note. | |
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Agriculture's image problem
