Posted by Andy Martin on December 17, 2015 at 20:42:40 from (209.213.149.120):
In Reply to: Lost money this year posted by Gleanerk2 on December 15, 2015 at 18:22:36:
Quoting Removed, click Modern View to see No harsh words here, there have been too many in this post, and we all know the word "farmer" covers a wide range of people with vastly different financial situations. Ted Turner is a farmer and so are thousands who are just hanging on by their fingernails.
I do want to paraphrase the statement:
the farmer lives on a million dollars worth of real estate which he can't use for anything but farming. If he mortgages it, he may lose it the next bad year. He has a million dollars but he can't invest it. He live in a house that anybody else with a million dollars in real estate would not even want to set foot in. He has expensive equipment the bank owns which takes almost all of his profit every year, a $200,000 tractor, a $500,000 combine and a $40,000 pickup. The farmer gets a big paycheck once or twice per year, and has to pay back money borrowed for seed, fertilizer, and fuel, and then has to have enough left over to live on the rest of the year after making his equipment payments.
Yep, the farmer owes more money than most people will see in a lifetime, but the farmer is not making the money that a non-farm business would with similar investments. While the average blue collar guy is struggling to pay for a $100,000 house and property, drives a 10 year old sedan, and lives from paycheck to paycheck listening to a framer cry poor me, one down turn and my business risks can ruin me. But give the farmer a good year or two and expect him to replace his 80 year old house or at least upgrade it.
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