No one economic pattern trends for eternity and I do not see this one doing it either. This country has not seen non farm investment on this level before and there will be factors that will disrupt it just like everything else. Everybody enjoyed running land prices up to the stratosphere but never gave any thought to the tax assessor bumping values up nor how a fixed expense such as property taxes may affect a poor business year or two. Dairy guys have been crying about tough times being back but they had no problem adding barns and cows a few years ago. Back to topic it took the perfect storm to get land up to 20K per acre in some parts of the US but even then there was a tie in to what commodities were doing at the time. Land going to 50K or 100K is crazy talk and if it happened would be long term bad. People that can pay 50 or 100 thousand dollars per acre would have to be fairly well insulated from the general economy in my opinion. No farmer could offer rent to make for any kind of return on ultra high land prices. This long term is just heading back to feudalism just as they had in Europe a thousand years ago. Where the ultra rich own the land and everybody else is a serf
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Today's Featured Article - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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