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Honored Advisor

Re: You`re short sighted, Don.

That is good advice Shaggy, unfortunately that isn`t how you get Big Big Big Big Big and have everyone say "OOOO I wish I was as smart as he OOOOO" Smiley TongueSmiley TongueSmiley Tongue

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Veteran Advisor

Re: You`re short sighted, Don.

The federal agency at the time was called ( FSA..edited).. FCA. Also a companion agency was called FHA. The writeoffs did not come from Reagan or Bush I, but from the agencies, and under the guidance of John Block, the ag secretary...also a bankrupt land speculator at the time, who was appointed by Reagan. So I guess you would have a valid point that, indirectly at least, the writeoffs did come from a Republican adminstration.

 

The farm you purchased, you said previously that it was from a landlord or relative. Is it safe to assume that they had defaulted on the mortgage and lacked the ability to repurchase it at "net recoverable value"? So did you step into their shoes, so to speak, and use the right of first refusal terms? That alone would be somewhat of  a subsidy as you did not have to compete on the open market, such a as it was. Right of first refusal purchases were never used as fair market valuation sales.

 

The 80's land writeoffs, along with the S and L debacle, really laid the framework for the banking scandels of today, along with the gifts to GM union workers. Not the proudest moments in the USA history of free enterpise. Actually a pretty sickening thing to watch.

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Senior Advisor

Re: You`re short sighted, Don.

If that's what it takes to be labeled big, hopefully it side steps right around me.  No one but myself to pass blame on or give praise to.  I've said it on this site probably 100 times, I've got 0 debt and that is the way I like it.  My $1.00 is worth about $1.02 not $0.95.

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Highlighted
Veteran Advisor

Re: Iowa is second-biggest farm subsidy recipient-It doesn't stop!!!!!!!

Jefferson penned the words first about how a democracy fails when the citizens are able to vote themselves money from the federal treasury.

 

You are bright enough to see that in action.

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Senior Advisor

Re: You`re short sighted, Don.

The farm I purchased was the property of two churches inherited from my wifes uncle. A batchelor that died of lung cancer. They had an offer to buy at $2000 per acre and refused it because they thought it more valuable. I bought it on contract for less than $900. $25K down with a 10 Year balloon. Interest rate 8% for the first 4 years and the last 6 years 9%.

 

No they were not financially challenged and received the property free and clear plus substantial cash as well.

 

I have never bought a farm that was financially in distress. All of them bought at market value. I never paid for someone elses write off. I never signed a purchase contract that didn't have acceptable terms. And neither did you or you wouldn't have signed it. Some one elses writeoff is not my concern. I am just greatful that I can meet my own obligations. I have never wasted five minutes worrying about someone else's sweetheart deal. That is just petty jealousy. Looking hard for a reason to blame your own failures on.

 

What gift did GM union workers get? What business would the government have voiding their labor contract. They were not in arears in their obligations. Again petty jealousy rears its ugly head. Your venom towards labor unions has you all agitated about something that does not concern you. Do you always stick your nose in someone elses business. You must be fun to associate with.

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Senior Advisor

Re: You`re short sighted, Don.

That being the case you owe dearly to the residential bankruptsies of the last half decade. You have been blessed with the lowest interest rates in modern history. They lowest interest ratess, the friendliest tax code, all the guns you could possibly want and still you crab constantly about how bad you got it.

 

Evidently you are another of those hapless failures that could advance because someone else got a writeoff. You're making excuses. Why isit you wanted bankrupt farmers to stay bankrupt. That is a christian value to desire redemption and a new day for those less fortunate.

 

I don't know any wealthy guys that feal cheated because thye did not get a sweetheart deal from the bank. Why waste your time fretting about something that has been over with for a quarter century? Man you carry a grudge along time. And it wasn't even your concern.

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Veteran Advisor

Re: You`re short sighted, Don.

Is that why you hate the churches? Might explain a lot.

 

you know  the xcore on the Gm scam as well as anyone else....the deal was illegal.

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