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kraft-t
Senior Advisor

You guys need to make some profound observations.

Not enough action on the business pages to keep me interested. 

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6 Replies
jrsiajdranch
Veteran Advisor

Re: You guys need to make some profound observations.

Landlord suck custom harvestors,planters, tillers all get paid to little!  I should make all the money not the guy with the ground. fuel is to high taxes are to high we don't get enough rain croppers make all the money while livestock gets left with nothin! Uhm I think of more later I gotta go. Hey Krafty in all honestly tell us something you observed from the 80's. Or selling trucks and cars in the 70's.  It is alittle dull but then again some of us are still workin!  JR

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kraft-t
Senior Advisor

Re: What I learned in the 80's

Don't trust bankers. Don't borrow as much and make sure you are spending less and repaying more. Don't spend borrowed money on a better lifestyle.

 

Most profound comment about car dealers. Don't think their purpose is to sell you  a car. It is not! Their purpose is to get your money and if they could get it without giving you a car, they would

 

Secondly, do not deal with farmers. They don't want you to make a buck. Do not always assume you will get the car they traded into to you. 

idalivered
Advisor

Re: What I learned in the 80's

I would think that selling cars now, would be much  harder than 25 years ago. everyone has so much more information, via the internet, about models ,price, availability, etc.

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jrsiajdranch
Veteran Advisor

Re: What I learned in the 80's

Krafty hows okie? 

I was thinking about your 80's comments and I thought I would ask you a question. 

In our current econ setup we seem to have this idea that we cannot endure the pain of a correction like the 30's or the 80's in the farm economy.  While I heard the stories of the 30's when I was growing up and experienced the 80's with my family,  I don't look upon either one as the worst times humans ever had or something that couldn't be recovered from.  Have you thought at all about how different we would be right now if we had just swallowed the tough pills of the last three years instead of kicking them down the road?  Would we be worse off then we are today?  just wondering. JR

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kraft-t
Senior Advisor

Re:My last 3 years have been great

but then I do not share the same circumstances that alot of folks do.  It would be darned painful for millions had we not tried to rescue the banks.  It's all a matter of timing and what your circumstances are at the time of the decline. The 30's were horrid for my father and he survived by  cooperation from the federal land banK. He went to his grave nealrly 50 years later extolling the virtues of FDR and the federal land bank.

 

The 80's were tough for folks like me that had too much borrowed as assets were marked down. Not because we were insolvent but because banks weren't comfortable with our under collateralized loans. If we were lucky we could do massive liquidation and survive.

Very painful at the time but probably good for us long term. Debt settled but a business gutted as well. However, we weren't broke but severely bent. Liquidated the hog business and used an excess $25K on a farm down payment. I cashed my Ira to finance the next crop.

 

As far as current pain, we have enough now for many folks and I think if they would have allowed a total collapse it would have done irreparable damage. WE have alot of folks suffering now without jobs but it is a fraction of the number of those we would have had were there no bailout. I don't want to pretend that I know the solution but I don't believe we could have rightfully ignored the crisis either.

jrsiajdranch
Veteran Advisor

Re: Re:My last 3 years have been great

SO earlky in the morning here and the coffe is kickin in just thought that from your post then we copuld infer that you thought or think  Bush did the right thing? Smiley Wink JR

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