Well if he is 30 and still is working in town then he is one of the weak an stupid???? Many of the flash in the pan guys of the last few years will not make it long term. The good larger farmers just kind of held the coarse even with the higher grain prices. There is another generations of "punks" farming that are between 25-35 that have no idea how bad it can get. Wait until the bank tells them NO on their operating loans.
I have a very good friend that in 1978 had 450 acres of land free and clear. He owned a White equipment dealership and did not owe any money on anything but the floor planned equipment. In 1985 he was dead broke. He ordered four new combines in 1980 after selling ten new ones in 1979. Right after he took delivery Carter announced the grain embargo. He had to pay floor plan interest rate on those new combines. By 1982-83 that was over 20%. The floor plan interest coupled with falling land and equipment values eat everything he owned. The combines sold at sheriff's sale in 1986. Two of them had holes rusted in the grain bins with under 10 hours of use.
When I went to work at the dealership there where a lot of "farmer friends" that went around trying to rent the ground I had rented. They where telling the landlords I would not be able to pay attention to the farms and work full time. In a few years the shoe was on the other foot. I had land owners coming to me wanting me to rent their ground because I was working in town and paying my rents/bills.
So I would look at the young fellow your talking about and just see a "PUNK"!!!!!!
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