Good for you, Nova Scotia.

[kato]

"HALIFAX, N.S. - The Nova Scotia government has announced a $2-million program to help the struggling beef industry.

The government says the program will help beef producers to pay down loan interest from 2009 to 2011. The chair of Nova Scotia Cattle Producers, Dave Oulton, says the move ensures farmers will be able to address some of their hardships.

Oulton says market conditions are extremely poor.

The program will be delivered through the Nova Scotia Federation of Agriculture."

This is a good thing. Imagine, with the level of debt out there, just what will happen if, or more likely, when interest rates jump like they usually do after a recession? Not a good time to have a lot of debt, and there is a lot of debt in the cattle industry right now.

And the Feds are ... where??????

[15444]

I would be interested in knowing how this is being handled. Is this a one-time payout to producers to cover some of their interest payments? I would never support such a notion in Ontario or on a federal scale. Government shouldn't be paying for the financial mistakes of others, be auto companies or beef producers.

[dluther]

15444-- i would imagine half goes to administration , the farmer won't get as much as auto workers . the only mistake we made is growing food for people like you ,just wait a few years and when alot of us are done then you will have something to BITCH about.My point is farmers don't get alot out of these programs.

[kato]

They don't. I agree. But it's a start.

We survived the unbelievable interest rates of the early 80's, and right now the vision of those days returning keeps me up at night.

How many here could manage if their operating loans suddenly jumped to 15% interest? Only those with no operating loans, that's how many.

[burnt]

It wouldn't take 15% for a lot of folks. 10% would make some recent land purchases around here look pretty bad. Like "doubling the payment size" bad? Welcome to McDonald's - may I take your order - would you like to large-size that - oh well you'll get it large-sized anyway . . .