Yep, Farmers historically will keep there land values over inflated on there financial statements they turn into there banker every winter. Makes it look good, but gets a lot of guys in trouble when it comes time to sell and there ain't enough penny's to put back in the bank! They just have no clue land prices are already down. Big time crash is coming, unless prices get a large boost for some guys!
Don't worry Johnny q tax payer will save them
^^I really wish this was possible. At this point in time, I don't see very many ways this can end well. Perhaps slapping a big tariff on all imports and getting folks off the dole and back to work would be a start.....but, sadly, the whole game seems screwed to me. Doing so would probably invoke a war with the Asian countries. I'm not one to throw in the towel....but it appears to me that this economy is beyond repair. One cannot even fathom a repair to what we have done. Chute.....we had a great nation.
Yeah maybe that is a possibility. But the Euro is not in the best of shape either. It's a world-wide house of cards. It's gonna take better leaders than we have mustered in the past several years to make things right. Hope and change.....yeah...riiiight. (I hope I am wrong - but the string has just about run out IMO.)Just wait until the worlds currency switches from our dollar to the Euro! :eek:
Everything you own will be worth 30% less overnight!
Just wait until the worlds currency switches from our dollar to the Euro! :eek:
Everything you own will be worth 30% less overnight!
I have zero faith in either party. Seems to me like all any of them care about is getting elected and re-elected...
Well Freeborn I will tell you this. Not a Republican, nor a democrat is going to fix what is wrong. Unless we END ALL of the entitlement's across the board (and that will not happen) this economy is and will continue to run on life support! Its doomed!
Agree, allot of change needs and will occur. The government will change entitlements by reducing them as the math does not work otherwise. For those who have thought you were going to get screwed on Social Security and Healthcare, you are. How the entitlements work out still needs to be determined but there will be a combination of things cut across entitlements and government spending that will occur. Everything from defense to welfare will get cut, government taxes will go up and indirect taxes in the form of inflation will go up. In the long run standards of living will go down, no doubt about it.
It’s a complex subject and difficult to cover on a forum like this but keep in mind the whole world including those in power don’t want a great depression or doomsday to arrive.
I truly believe the public and politicians will moderate as it is the only way we can afford to sustain a reasonable level of prosperity.
On farm land, most likely there will be winners and losers, I don’t know if there will be a land recession.
Glad I could make you laugh!
I’m an optimist and still believe we will recover and that we are not doomed, at least not yet.
The elections are in 6 weeks, look for the country to move to the center and with that the politicians will as well.
Give us a couple of years of US GDP of 4.5% and China GDP of 8+% like we had during the Clinton and Reagan years and we will get past this administration. Hopefully after the last two presidents the citizens will learn that the country does better when we work together near the middle of the political and social spectrum.
To change the subject, when is the land tour, pig roast and beer fest going to happen at you place?
Prices are similar down by me as well. Funny thing is, I don't think the yields are gonna be too great in the Dakotas and Western Iowa. That frost we had about a week or so ago nipped a lot of acres of beans and corn. Not sure how it's gonna impact exactly, but I saw a lot of green wilting beans last week driving after that frost. Corn was the same way.
I've thought a lot about it. One bad year probably won't burst the bubble. It may shift around land a little where the over-leveraged under-insured guy goes belly up. I think it may require years of poor prices to affect land prices in total.
For now, I'm going to keep chasing precious metals into the abyss. It could be a repeat of my mistake of shorting bonds when things went south in 2009. Boy was I wrong and took it in the pants on that one. Don't bet against the Fed. Ever. So says the guy buying gold and silver.
Ha! Who knows???