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East of Broken Bow | My dad was telling me about 1986. Said we got hailed out that year, 99% damage, no hail insurance because of cost (12-1/2% at the time). Then in 1988 things were dry as a bone, the row crops were irrigated, but the pastures were drying up and he bought a bunch of feed bunks to give cows in the pastures corn to keep them going until he could move them onto stalks. Said irrigating that year about wore him out.
He also tells of a piece of land that was for sale across the fence in the 1970s, he made an offer but was turned down. He would have had to borrow money at over 20% to buy it. Instead he took his down payment, and put it in a 5 year CD for 15%. Long story short, not long after the CD matured, the neighbor died, and it went for auction. It brought less than 1/3 what dad had offered 5+ years before, and he said the interest on the down payment was almost enough to buy the whole 80. | |
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1986?
