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It's not all inflation
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barren
Posted 11/25/2021 03:27 (#9339851 - in reply to #9338822)
Subject: RE: It's not all inflation


Glasgow, Ky

Another thing to remember is that back in the 70's and 80's there was no internet.  Most of the info came from farm magazines such as Progressive Farmer.  The name speaks for its self as progressive farmers, defined then as expand or die, were the poster children for them.  Article after article featured the farmer who was aggressively expanding their farming operation.  Buy land, rent land, build big grain handling facilities, put in modern hog operations, etc.  Sons were joining the operations, some of which had left the farm and came back to share in the bounty, fueling the need and desire to expand.  Many of the got their picture on the cover of these magazines.  PCA's were aggressively lending money and encouraging farmers to borrow to expand, leverage was the key to success. Some similarities to what is happening today.  Life was good, at least for awhile. 

Then came the multitude of issues already pointed out in previous posts and the train wreck which followed.  Some of those featured in the magazines in past years either had to sell land and equipment (at greatly reduces prices to just hang on to what little was left) or were foreclosed on leading to bankruptcy for some. I remember my father and grandfather, who had lived through the great depression, being more than a little concerned about the mania happening on the farms.  In many ways it is similar to the concerns many of us who lived and farmed in the 70's and 80's have today.  Will history repeat itself? Will it be different this time?   "Never say never" is the only thing I am sure of when looking at the future.       

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