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Nw Iowa | Also credit card debt at record levels. The problem is a new SUV in every driveway, kids in every sporting event possible, cable costs, cell phone costs ( many times 4 or more in a family) trying to keep up with everybody else on social media sites, etc. Lving costs of a modern family would blow most of us away. So making a lot of money but spending more. We as a society are a bit out of control. I think reformed is saying same about some of us farmers. The cost of machinery, labor and overhead has gotten crazy. A tractor repair is in multiples of 10000$. New tillage implements in excess of 100000, new tractors 400-600 thousand, new combines and heads close to a 8-900000. Break even costs for many are at or below todays prices which are still quite high historically. I don’t think inflation is helping anyone. | |
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Inflation and recession.
