Stimulate what?

[furrowtickler]

Cnadian banks and financial ins., are protecting themselves big time. Some interest rates have shot up, R.V.'s and boats - 11 to 12%, line of cedits at some banks are now prime 7 or 8%. Great way to stimulate the economy! Some farmers are going to be in for a heart attact when they try to secure the rest of their crop inputs.

[TOM4CWB]

furrowtickler,


Perhaps this will lower production... and cause prices to rise?

If some farms are 'bad' credit risks... is that the fault of those who have good financial controls/management?

What is your point... should strong farm performers... cross subsidise those who don't manage effectively?

[cottonpicken]

The banks relationship between the people and themselves is similer to an alter boy and his priest.

[Fransisco]

http://business.theglobeandmail.com/servlet/story/RTGAM.20090313.wsubprime14/BNStory/Business/home

[SASKFARMER3]

Tom your way off on this one. Their are farmers who just last year got their heads above water for the first time in years. They did it themselves with no federal help (CASIP AIDA ETC ALL GOOD FOR SHIT) Now these guys are going in and guess what boom prime plus 2 its still 5% but guess who's making big money (BANKS). A credit manager I use went for a vehicle loan at local CU because she couldn't use her bank (conflict of interest) prime plus 2.2 for a van. Shes not really a risk since both her and her husband have paid off house plus some small loans.

[liberty]

Francisco's link to the G&M article is positively frightening. After Canadians have been told for the better part of a year that a subprime meltdown can't happen here, supposedly because we're so much less "laissez-faire" in this country, now we're starting to get indications that our regulators and central banks may have pulled the same shenanigans that happened south of the border, except in a different time frame. Great.

As for the people who have to pay big interest rates to get RV loans, that's the kind of spending that we need much less of anyway. I say good riddance to it.

[parsley]

Stimulate your bank account through spending reductions, and put away some cash for upcoming taxes.

Land taxes are going to be killers, imho.

Keep enough cash in the bank to pay this years taxes and next. IMHO

White collars need weaning, but they will tax farmers to landsale. Are you prepared to argue? When? I haven't heard one word about education taxes on this forum.

Doubled and tripled land taxation will mean mortgaged land for most farmers, if commodities are worth little. And if you think Government won't erode your land-nesteggs, through taxation, we are truly a stupid lot of business people.

Parsley