Is the bloom off agriculture!

[hobbyfrmr]

holy cow I am slow, there was 3 replies by the time I got my question out!!

[wd9]

Yes you are hobby. We see a lot of industries built for full value, they go broke, someone takes the hit, new buyer comes in on cents on the dollar and voila, its profitable. Be the guy that's buying the cents on the dollar.

[grrrr]

Why are people capitalists when they are greedy and grabbing everything in sight and suddenly become socialists when they realize they can't make the payments?

[farmaholic]

HAHAHAHAHAHAHAHAHA!!!!!!!!!!!

[Hopperbin]

Ok at one time banks were lending out money full amount of purchase price as even the banks thought the price was always to increase, so there was write downs and origional owners kept the land as they were always still the highest bidder. They kept their land cause they made the most money off of it. That does not happen today. No one buys land without some collateral. Land goes back to the bank and sold off. As a member of a credit union there have been much more gains than losses from land going back to the financial institutions.

[ajl]

There was quite a number of people with
debt write downs in the mid 1980's around
here. Just don't be the first to go
broke. Same pattern will repeat so if you
need land you just have to pay what it
takes to get it.

[sumdumguy]

FCC - lending at these prices? Nuts. The system
will wipe out the middle class no matter what, I
think this is the plan. Wipe out interest rates.
Herd them into equities, there goes half, then into
gold, the other half. Voila! Cash will be king when
the shise hits the fan. just like the dirty thirties.
The guys who had an old man who never parted
with a penny snapped up all the land. The big
shots with a big new Merc hid in the attic. The
tightwads cleaned house.

[Hopperbin]

ajl if I got the name correct. What happened in the early 80s will not repeat because it has not even started.

[Hopperbin]

Ok I will admit I do not knwo a whole helll of a lot. My dad built up a grain farm and retired at age 58 and never worked after that date, left the management and work up to me.

Some things he told me was when he first started into his farming career was everyone else said they could not afford it. Then when he was making money his friends said to expensive to get in. Its a business.