Where did I say anything about not borrowing for land or a farm? Those are almost always long term investments that will likely pay off over time as investments and therefore do make sense to borrow.
Borrowing for tractors and equipment makes sense too if that is how you make your living. That said all tractors and equipment do nothing but depreciate. Yeas a JD 4020 sells for more now than it did new but $10K was a lot of money in the 1960's but that same $10K today is not all that much buying power due to devaluation of the dollar. Farming is not even remotely how the OP makes his living though nor how I make my living either.
Heck by your logic I should get a 2nd job so I can buy expensive tractors I do not need. I should work 16 hours a day for the privledge of owning an $80,000 tractor to use in my leftover free time. I can easily make my piddle hobby farm pay for a few hundred dollar Farmall h or Farmall m....however my piddle hobby would not pay for an $80K tractor in my lifetime and I have zero desire to funnel my household income towards it either.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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