The Combine Forum banner

1 - 20 of 40 Posts

·
Registered
Joined
·
2,444 Posts
Every one adopting the Broadacre and One Earth business model. Should be good Where's my popcorn?
 

·
Registered
Joined
·
423 Posts
If we have a 3% rise in the prime rate half the people in Canada will be in trouble not just farmers ,it's only us older guys that paid 15 to 21% that will survive we been there.
 

·
Registered
Joined
·
982 Posts
I'm young

In **** piles of debt but its all (all long term debt) locked in for twenty years at 5%, pay a bit more now for security in the future. Sorry but life has taught me to borrow and buy.

Is it risky? yes everything has risks. Would love for someone to explain to me how the **** I get farming without all this debt. Saving up would have been the stupidest thing I could have done, woulda had to save pretty fast when land prices double every time you turn around.

So look down at me cause I'm loaded with debt if you want, its the only way I could do it (sorry dad didn't give me the farm). I know its been said before but I started with nothing and if that's what I end up with then I haven't lost a thing.

Currently 30 years old with a net worth most people would have to work their entire lives to achieve and I bought it all, don't farm dad's land only my own, no silver spoons here, I'll admit I did have help with machinery, but other than that nothing just hard work and debt.
 

·
Registered
Joined
·
1,024 Posts
Pretty easy to tell who doesn't have debt. I don't want to see everyone ruined, just the yappy f*****s with all the fancy toys and not a single thing paid for. The ones that are superior to all the guys with the 10yo equipment, lol. Like one earth and broadacre, plus a few select smaller injection nozzles.
 

·
Registered
Joined
·
3,988 Posts
I got Ya. Nothing wrong with debt as long as its making you money and manageable. I agree there are probably some that would hurt. And a person shouldn't use debt to buy toys.
 

·
Registered
Joined
·
1,156 Posts
Pretty easy to tell who doesn't have debt. I don't want to see everyone ruined, just the yappy f*****s with all the fancy toys and not a single thing paid for. The ones that are superior to all the guys with the 10yo equipment, lol. Like one earth and broadacre, plus a few select smaller injection nozzles.
Do these guys actually run around telling you your old equipment is no good or is it Jealousy. It is hard to be happy with what we have.
 

·
Premium Member
Joined
·
8,181 Posts
Jealousy, but debt free jealousy.:D
Thanks for being honest.;)

I agree with your comment that interest rates should be 3% higher. That would hopefully slow down some of the risk-takers and also reward the people that save money. Right now there is almost a penalty for saving money when you factor in inflation, that just doesn't make sense!
 

·
Registered
Joined
·
303 Posts
Thanks for being honest.;)

I agree with your comment that interest rates should be 3% higher. That would hopefully slow down some of the risk-takers and also reward the people that save money. Right now there is almost a penalty for saving money when you factor in inflation, that just doesn't make sense!
Agree with you that reasonably higher interest rates wouldn't all be negative.

Farmland prices would decrease, farm machinery and other big ticket items would have to as well.
There would be a much greater incentive for saving $ or using a significant down payment for purchases.
 

·
Registered
Joined
·
1,624 Posts
In the 80's, the debt free farmers made big money on interest, so yeah, high interest, while wrecking some aspects of the economy, makes the more careful guys a tidy sum.

Debt is almost always needed in farming for some reason, but it depends on what the debt is for. half million combines, or a smart land purchase?

if guys could farm without the bells and whistles they think they need these days, they would be better off. Does a yield monitor make more yield? Does a new combine make your crops yield more?

I feel no pity for any guys who take on too much debt and get in trouble.
 
1 - 20 of 40 Posts
Top