Posted by NY 986 on November 15, 2020 at 06:50:32 from (67.249.255.74):
In Reply to: farming in the 1970s? posted by swindave on November 15, 2020 at 03:58:43:
Inflation hit after the oil embargo of 1973. I was a kid so I seldom saw the farm from a business standpoint but I was soon getting wise beyond my years as to what was going on. The federal govt through FHA loaned a lot of money out that doomed many of those same borrowers during the 1980's. Mom and pop ag suppliers still were predominant during the 1970's. Everybody was happy with the size farm that they had. Most farms around here ran 4 row planters and combines. Nearly all hay made dry was done with a small square baler. Most farms on my road were small dairies. Some equipment was bought new but quite a bit was bought used. Most colors got represented to some degree locally.
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