Posted by robert major on December 16, 2015 at 20:13:08 from (216.81.24.47):
In Reply to: Re: Lost money this year posted by jimg.allentown on December 16, 2015 at 14:11:06:
Hi There jimg The one big thing you forgot to mention in your educated opinion is there are a lot of guys out there like you describe where the bank owns more of the land than they do and the finance or lease company owns more of the machinery than they do to. I know that as I fix equipment for a few guys like that. One went bankrupt 10 years ago and there are another few round here the same lost it all in the bad years and started again. Plus a lot of guys that have never been bankrupt that don't own much apart from the few acres with the house on. The rest is borrowed money! Wait another year and see if the farming financial climate tanks more, and see how many rich farmers are gone over night. There is names disappeared round here that came as a big shock the day the sale was announced. Do not assume anything buy looks. I Have had the big look at me guys bounce checks, the guy that tells you he's struggling usually manages to pay his bill somehow as you tried to help him out when he was stuck.
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