Iowa | BALZY - 8/3/2011 20:43
You guys' memories are getting fuzzy in your old age. Steady flow of farm foreclosures and auctions, weekly stories of farmers killing themselves or others (banker) I had just started farming '84. Like you said, 18% operating money. Equipment and land was cheap due to all of it coming to the market, but no one, ok, very few had $$. 88 & 89 back to back moderate droughts at our place. Not pleasant memories here.
Boy you said it!! My memories are horrible. I can drive one 3-mile stretch of road and see 6 places where forced close- outs were held, all of those guys felt pretty wealthy just a few years before.
In hindsight I missed some opportunities but what I remember has probably served me even better. The money I've made has never been wasted on new vehicles or fancy vacations, etc, but spent on items that make more money-- and I've built more net worth by that than getting lucky plunging at the right time.
At some point it ain't gonna be pretty but some of us will be prepared. |
The worst prices in grain we will see in the next 20 years.... (Purchasing Ground)
