Traditional Farmer
Well-known Member
- Location
- Virginia
Article on Drudge about farmers and debt,said the average farmer in the USA was $1,300,000 in debt.Glad I'm not average.Can that figure really be true?
(quoted from post at 13:23:57 08/13/19) Article on Drudge about farmers and debt,said the average farmer in the USA was $1,300,000 in debt.Glad I'm not average.Can that figure really be true?
(quoted from post at 14:51:10 08/13/19) Forty years ago there were guys carrying that much debt on a Harvestore product. Neighbor back then on his blue high moisture silo said it cost 1,000 dollars per vertical foot to put up and his was 85 feet tall. Don't know how it worked in Canada back then but the credit institutions here were pretty abundant with loans back in the 1970's so plenty of guys got into debt up to their eyeballs. After the grain embargo in 1980 combined with subpar milk and meat prices these lenders turned the tap right off when guys needed a rework of their finances.
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