John Seasly said: (quoted from post at 20:25:25 05/22/11) Ag in IN you are correct in it is none of my business what his mortgage amount is. Sorry.
But when a farmer tells his neighboors that he paid too much for the farm and he is in debt.And that why he is applying for a permit. I take a active interest in what is going in next to me. Upside down loans in the housing market is what has caused so much hardship for the American families. Greed and irresponsibility will continue unless it is stopped
The guy is a fool. You have that part figured out. A fool and his money are soon parted. His is long gone, and that hasn't increased his wisdom level any. Wait a while, you might own the place, yet.
Many bankers are idiots, as has been proven in the last 5+ years. On the ag end, they want million dollar+ loans instead of 10 hundred-thousand dollar loans. 1 or 2 guys taking you for a hundred grand each isn't good. 1 or 2 guys take you for a million +, well, we all know where this is going. Eventually the idiotic theory of "too big to fail" will apply to choice larger farmers, too. They'll get a bailout, and the little guy will get screwed.
The vast majority of people will never embrace the idea of fiscal responsibility when our country has no intention of following this theory.
The good news for you is that probably half of these places never get built. There is a dairy south of here that never got built. I think all of their permits have expired. People came up with any argument they could dream up. The argument was even made during a hearing that the calves could make a break for it and stampede the nearby town. A local ag banker stood up against it. A week later he was fired. At least the bank wanted someone who supported agricultrue signing farm loans.
Sad thing is after the county officials couldn't stop this from being built, they dreamed up a bunch of rediculous new rules that unless you can afford a 7-figure lawyer, there probably will be absoluely no new animal agriculture growth at all, even on a small scale in our county.
Uncle Sam will not be seriously regulating/enforcing existing regulations on animal odors or farm dust any time soon. The one thing that keeps us peasants (middle class) in check is readily available and relatively cheap food. If that goes away, look out.
AG
This post was edited by AG in IN at 16:17:08 05/22/11.
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