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What would another recession do to the Ag economy?
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Posted 12/4/2018 20:38 (#7149149 - in reply to #7148902)
Subject: RE: I remember....

I live on a fairly busy state highway and at the time I was putting up another bin. What I remember was just how traffic fell off. There's a cement plant down the road a ways, so I'm used to hearing trucks pass quite often during the day, & busy early morning and late afternoon traffic. It was so quiet. Just the occasional car, no trucks to speak of. It was down right spooky.
And then the foreclosures started. Lots people ( particularly young families )that had a job and just recently purchased a house suddenly found themselves laid off and had no choice but to surrender their house. Where they all went I don't know, moved back in with family, started to rent. For a while it cheaper to rent a house than get a mortgage because there were so many houses empty.
One of the things that save agriculture was that ethanol was booming and the Chinese bean market was really just taking off at the time. If you could get your corn to the ethanol plant you could get a good check. That's not the case this time.
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