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North of London | Not sure many remember history or teach it.
I smile when people complain about the 'high' interest rate today.
I was starting farming in the 1960ies and mortgage was 7.5% for locked in 29 years
That was low from then on as we moved into the 80ies and operating hit 25% for some 23.5% for me at one time.
BTW that was compounded monthly too
You either found a way to manage cash or you found another way to make a living.
You deposited every cheque as soon as it arrived and delayed paying any bill until the day it was due.
And then you were very shy about taking on debt as you crawled out from under debt and interest payments. | |
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Do Ag. schools reach much history ?
