Posted by paul on November 15, 2020 at 04:29:27 from (66.60.223.229):
In Reply to: farming in the 1970s? posted by swindave on November 15, 2020 at 03:58:43:
Early 70s was pretty good times.
Late 70s is when things got crazy, some world events led to a seesaw of economics and grain supplies that set up the world glut of grains that depressed farm prices into the 80s. USA tried to help farmers with policies that gave subsidies to producing more bu, so farmers responded and grew more and more grain into a market that wanted less grain so the problem got really bad, just as the general ecconomy got goofy and interest rates went to 14-18%. Banks faced collapse and so they carried the farmers that were too big and in too deep forgiving much of their loans, meanwhile they called in the loans of good farmers and foreclosed on them so the bank could recover their assets and use that to save the bank.
So, yes, early 70s was pretty good.
Mid 70s seemed good but actually was the stepping stone to major disaster, hindsight says that while expanding and cashing big checks it actually was the beginning of the end.
Upload one or more videos to your post. Photo and video filesizes should be less than 5MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.