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| Yup, called demand clause. What Cornstalk doesn’t seem to understand, is that a farm bought at the height of land values came crashing down so hard it completely wiped out equity, creating negative net worth in most (certainly not all) cases. Most loan underwriting criteria in those days was based on the strength of the balance sheet/net worth. Some of the very best farmers I knew were forced out because of their tendency to buy land. ( today these types seem to be heralded by the NAT crowd as brilliant) And it resulted in a couple of those raking an early exit. It was a black swan event, and few can survive such an occurrence. Cornstalks remark was extremely uninformed, that the best way I can put it I guess. Wonder if he’d still have such a smug attitude if two thirds of his farm assets vaporized over the next couple years. Until he or anyone else for that matter has had to experience something like that first hand, they shouldn’t pass judgement. Struck a nerve with me. I’ve had to stand graveside more than once listening to the sobs of a destitute wife with a crying infant in her arms.
Edited by Boone & Crockett 2/12/2019 07:40
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Investments for 26 year old
