Quote:
Originally Posted by Buehler445
Interesting story.
I think it was in 2014, my father in law was talking to me. He said he was bummed out. In the 80s, he scraped together every penny he could scrounge and threw it in a 30 year CD. At 15%!!!
He said he didn't figure he'd ever get that kind of a return on the farm.
Pretty damn smart. I don't know what USDA has average farm return at during that period, but it isn't 15%.
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I was a kid and remember interest rates that high.
Now imagine the flip side -- mortgages at like 18+ percent, because that was real too.
I could go on and on about how Fed Chairman Volcker had to do it to break "stagflation", but it also broke the Carter presidency (not that he was good, anyway, but alot of people blame Carter for stuff that he had no control over that came out of the oil embargo crisis etc.), but trust me when I say you don't want to get me started.
