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Clay SEIA
Posted 11/14/2012 23:52 (#2697993 - in reply to #2696570)
Subject: RE: I was under the impression



Tommy- I couldn't decide which post in this thread to reply to so it landed here. I think there is a big block of reasonably young farmers going right now who have spent their entire career in geographic areas that really have not experienced crop failures, have soaked up $6 corn like it's a given, and have no real concept of what you mean about security being important. What they assume to be security, is really blind luck given to them by Mother Nature and the other forces that have come into play which took grain prices up while the rest of the economy was headed for the crapper. Couple comments I will make though-

For those who are historically ignorant, nobody ever lost a farm in the 1930's or the 1980's that didn't have a mortgage against it. Yep, lots of wealth has been made by borrowing money to purchase land, but if you play the game of mortgaging a paid for farm to buy another, you are putting yourself completely at the mercy of lucky timing.

In the realm of personal spending/debt- to me, there is a difference in spending on toys or spending on memories. I don't want debt on a snowmobile OR a vacation, but I'm also not going to be a hermit and save every penny to buy 80 acres at the cost of not seeing other parts of this big old world that God gave us to roam around in.
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