A 'silent crisis' in farm country

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Updated: October 2, 2010 - 10:11 PM

Not since the 1980s have so many Minnesota farmers been behind on loans. Among the culprits: tight credit and new rules for lenders.

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righteeeoooOct. 2, 1010:16 PM

I have many relatives who are farmers and none of them are behind on loans... Why?? Because they are all hard working, financially smart, and do not overextend themselves. Too many farmers buy all of the land that they can, but do not have the dedication and ambition to work it all and make it profitable.

THE INTELLIGENT AND HARD WORKING FARMERS ARE NOT HAVING PROBLEMS.

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jjsbrwOct. 2, 1010:24 PM

Really? AND he owes a half mil still? Nice

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MickeyOct. 2, 1011:44 PM

BO may feel that they have too much money and HE want it spread aroun to Acorn, illegals, felons and anyone who will dig up an illegal vote. Klobachar and Franken are in lock step with Obama. Nov. 2-- flush the toilet.

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baloney2Oct. 2, 1011:46 PM

Two problems seem to converge to break the financial health of farmers. First, a few years of higher commodity prices driven by expanding exports help bankers take more risks and loan more money to fund good loans. Second,when prices remain high the equipment dealers urge the banks to make loans on more efficient machines. This leads to very productive farming practices based on high debt loads. The fly in the oinment are the prices which encourage more plantings around the globe.Minnesota competes with Russia,Canada,Brazil,and Argentina,and each one of these countries has the latest ag technology,and can purchase the latest machines.You get overcapacity.

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richieswensonOct. 2, 1011:52 PM

Smart operators should have improved their cash positions- thus reducing/eliminating the need for operating loans- instead of greedily bellying up to the trough like they always do. Oh yeah, let's reward the WORST managers with loan forgiveness too. And make that guy that owes $500,000 PAY UP- he's either got it stashed or he has the equity in something, somewhere.

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kastawayOct. 2, 1011:55 PM

Super subsidized industry. Should we have family car manufacturers? Awwwww. Food gets cheaper every year. That green paint is expensive! There are millionaire free and clear farmers all over the place.

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kastawayOct. 2, 1011:58 PM

Carter got Argentina into farming. Grain embargo, which starved thousands in the USSR. He has blood on his hands, and abandoned farms in his wake.

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joycen62Oct. 3, 1012:20 AM

Probably at the urging of a mortage banker, who sold him a bill of goods. Now he uses a government agency to bail him out of HIS BAD decisions? Correct me if I am wrong, but this is what Bachmann hates....government bailouts, subsidies, and a safety net. She wants to repeal social security and medicare. What is sad, is that Malechek is a reason Bachmann is in office.

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mutt10ROct. 3, 1012:37 AM

Big ag is out to kill small farms with patented GMO monocultures

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drew15Oct. 3, 10 1:59 AM

Exactly how do you define “big ag” versus “small ag?” It’s called the marketplace. What is the capitalization number for your determination? Everyone who plays gets a shot. I have no idea what utopian dreamland you believe in, but companies in any industry, like Monsanto, that are run well and compete will be more successful than passive players on the side who don’t understand the nature of capitalism.

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