I have seen a neighbor BTO go through a process of "restructuring" twice, coming back stronger each time, buying more land and putting himself deeper into debt each time. Probably will not happen again..........................he has a rich son-in-law who will "help himself" by "helping him," is what our neighborhood suspects. The FFA creed, when I was in high school, started out, "I believe in the future of farming." In our neighborhood, as it was some of the kids of the BTO's who were officers in the local FFA chapter, the cynic's take on the FFA creed was, "I believe in the future of forgiven debt!" Yes, I am a bit of a cynic. Some may ask why. I will tell you why! I wanted to farm since I was old enough to drive a tractor (early 1970's). I put a lot of my spare time into working on the family farm as a kid, an adolescent, and as an adult. There was not enough there to make it work for me, particularly when there was a very difficult family partnership with other family members involved. I now do farm on a part time basis, as I had to wait until my father and his siblings split the operation up and my father retired. These same BTO's, who went through debt restructuring and forgiveness, now have sons who have taken over and hell bent on swallowing up every piece of real estate they can get their hands on by either renting, or buying, or having a "silent backer" purchase the land so they can either custom farm it or rent it. My dad chose NOT to go up to his neck in debt, banking on a debt restructuring. He borrowed money, and he paid it back, just as I have done and will continue to do. I have been actively managing my farm and actively operating it. I have a good, well kept, and low houred lineup of equipment, that I managed to acquire over the past 9 years. I was fortunate to have the good grain prices to be able to do this. I may not ever be able to increase the size of my operation substantially, but I WILL be in the position to take on more if/when the opportunity presents itself, or I decide that I am done working my full time job in town. I really don't have much time or sympathy for the vast majority of the BTO's. I don't buy their line of BS in how they had to expand their operations, using the tactics they resorted to, in order to sustain their operation. Too many have been driven by greed and arrogance.
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