New Tractor Sales Are Declining

[TN8Man]

Just heard that Americans are in the higher credit card debt than in last 20 years, so I will add that to my list of concerns.
Luckily I’m not, but I fear for my brothers & sisters who are

Yep, maxing out credit cards, wiping out savings and even digging into retirement funds. On our local sales network I now see many more ads for junk where people are selling anything and everything just to get money. I see a lot of farm equipment for sales including low hour tractors.

 

[TN8Man]

I get that some of you believe the world is falling apart. There are a lot of problems but that is nothing new. There has always been a lot of problems, the only difference today is we have so much more media coverage and instant communication then we did in years and decades past. However, remember that the media loves to report problems but never has any solutions. They spend endless amounts of time everyday asking all these so called "experts" for their opinions about what should be done to address the problems and the answers are always something a 1st grader could of told you. What positive change has the media brought to society? What solutions has it come up with and implemented to make the world a better place?

This is really nothing new as the Greeks and Romans used to sit around and philosophy about the world and it's problems hundreds and thousands of years ago. After all the time spent doing that it never fixed the problems. The world has always had wickedness in it and always will. It's not going away. And the book I read tells me this place is going to get worse not better as time goes on. Just something to ponder.

I don't watch mainstream or social media news. What's the point if its all propaganda.
I do keep an eye on what is happening in this world and its clear to me that a fundamental societal change is in progress and has been in progress for decades. We only notice it more now because the changes are being accelerated as it nears completion. Many people see it now and talk about it but as we progress most everyone will see it. This is nothing new, many books have been written about it and people speak about it. The people behind it don't even hide it.

 

[Hay Dude]

Hay Dude you have TONS of tractors and equipment. You probably have more farm and Ag equipment than any member here on this whole forum. Can you not make do with what you have until the equipment market gets some price correction?

“TONS”? No. I have just enough to run my operation and now I’m down one tractor.
Just sold one because it’s too small and need to replace it.

Getting a replacement has been an eye-opening education.
Low inventory selection & high prices are the issue. New or used.

 

[lman]

OK. I just think I've almost figured out how to include two different posts from different pages... except for them being out of sequence.

But to answer Hay Dude, a higher credit card debt is exactly the sort of short term problems that are easy to work with. It's a totally new problem that didn't even use to exist before credit cards became common.

So the "problem" is easy to see. And the solution - to spend less - is easy to understand and to implement.

It's such an easy thing to fix that it takes less time to type this than to fix the problem. And the people that spend less also get to avoid inflation and interest rates.

We live in a society that people are fighting to get into; not trying to leave.

rScotty

I guess they can just park their car and walk 10 miles to work or not buy groceries for a couple of months. Sounds simple.

 

[riptides]

I guess they can just park their car and walk 10 miles to work or not buy groceries for a couple of months. Sounds simple.

The job market is still wide open. Figuring out how to get people interested in working a better job may alleviate their consumption and commuting woes.

 

[Hay Dude]

OK. I just think I've almost figured out how to include two different posts from different pages... except for them being out of sequence.

But to answer Hay Dude, a higher credit card debt is exactly the sort of short term problems that are easy to work with. It's a totally new problem that didn't even use to exist before credit cards became common.

So the "problem" is easy to see. And the solution - to spend less - is easy to understand and to implement.

It's such an easy thing to fix that it takes less time to type this than to fix the problem. And the people that spend less also get to avoid inflation and interest rates.

We live in a society that people are fighting to get into; not trying to leave.

rScotty

I think you’ve provided a solution to the problem, but what you need to realize is without sarcasm there are people stretched as thin as they can go. People have parked their cars. They are eating beans & rice. They are in debt just to eat. Food banks are popping up all over and people are using them now more than ever.

Are you safe & secure rScotty? From what it sounds like, you are doing ok. We need to be mindful of those just barely making it and understand their hardships.

Sure, there’s plenty of images of people waiting in line for a free food box in a nice expensive car, but there’s more in $500 cars than TV will show.

 

[BleedingOrange]

Where have you seen these ads?

In Canada, we have sites called KIJIJI. I just inquired about a 2022 VW that is up for sale. The guy stated he has only owned it since Sept. 2022, and cann,t afford to make payments any more. In conversation with him, he also stated he is upside down with his loan, and understands he is going to take a major loss to get out of this vehicle. He is asking 37K, I offered 30K, but he said he cann,t afford to take that much of a loss, at this time. No problem for me, it,s a want, not a need, so I will patiently wait for a deal that is what I feel, fair.

 

[Hay Dude]

Not sure its a “jobs” issue, mr. rippy.
I’m seeing more that it’s an extremely high inflation/interest rates issue.

It starts with the doubling of fuel prices, which causes inflation on literally everything.
People have the natural tendency to live at their means, some even above their means. With the amount of money people have to borrow for homes, cars & credit card purchases just to maintain their current lifestyles it’s no wonder there’s so much hardship. Interest rates shot up faster than they ever have in the last 40 years.

When inflation and interest rates skyrocket at a rate greater than seen in the last 40 years, they can’t adapt quick enough and fall through the cracks.

 

[Torvy]

But to answer Hay Dude, a higher credit card debt is exactly the sort of short term problems that are easy to work with. It's a totally new problem that didn't even use to exist before credit cards became common.

This is a common misperception. While 'cards' may be a relatively new tool, credit is not. In rural communities (which were most communities prior to 1900 or so), credit was frequently extended by merchants because for most farmers cash only rolled in once a year.

There was an acceleration of credit use after WWI as city people wanted the cool stuff being made and didn't want to wait. Again, merchants extended credit, but now it was for convenience rather than necessity. This was over 100 years ago. Credit cards themselves began in 1950 (Diners Club).

 

[ddbackhoe]

The job market is still wide open. Figuring out how to get people interested in working a better job may alleviate their consumption and commuting woes.

Retail is trying to force everyone to abandon the cashier. Grocery stores used to employ baggers and cashiers, now they are moving to self-checkout only. Has the retail pricing come down? Their claim is a shrinking work force. Unemployment is down, yet we are losing jobs and not making much of anything. Are the welfare rolls up and not discussed?
When I am out and about, I see lots of younger people carrying cell phones and using plastic cards for payment or just ann app on their phone. Credit or debit? Uncertain, but everyone is spending something.

 

[CloverKnollFarms]

We are doing well. I’ve doubled my income in the past year, without even changing my position at work. We have retirement already set, and we are in our early 40s. We have a lot of options and opportunity. My biggest gripe is that I cannot invest in ROTH IRAs anymore.

That is separate from what financial crisis we are as a nation and world setting up. Both can be true, and I’m not so out of touch to not see past my own beautiful lawn, at what is happening to the rest of the population.

The government bailout of banks, literally PROMOTES risky investment and behavior. They are making the issue WORSE, not better, by eliminating consequences for stupid behavior by banks. For all of the talk that we have “fixed” the banking issue… I still see new banks daily needing bailouts.

Moodys didn’t see a problem with the banking sector a couple weeks ago. Then two banks failed in one day. This week they downgraded the US banking system outlook to NEGATIVE. It amazes me how many people are in complete denial as to what is happening, until the day it happens. Wait, no, I’m not. I still see triple vaxed people wearing masks in their own cars.

 

[Hay Dude]

We are doing well. I’ve doubled my income in the past year, without even changing my position at work. We have retirement already set, and we are in our early 40s. We have a lot of options and opportunity. My biggest gripe is that I cannot invest in ROTH IRAs anymore.

That is separate from what financial crisis we are as a nation and world setting up. Both can be true, and I’m not so out of touch to not see past my own beautiful lawn, at what is happening to the rest of the population.

The government bailout of banks, literally PROMOTES risky investment and behavior. They are making the issue WORSE, not better, by eliminating consequences for stupid behavior by banks. For all of the talk that we have “fixed” the banking issue… I still see new banks daily needing bailouts.

Moodys didn’t see a problem with the banking sector a couple weeks ago. Then two banks failed in one day. This week they downgraded the US banking system outlook to NEGATIVE. It amazes me how many people are in complete denial as to what is happening, until the day it happens. Wait, no, I’m not. I still see triple vaxed people wearing masks in their own cars.

Any dopey bank manager will just let the bank fail, knowing our current leaders will just bail them out. Then more money is printed by our leaders, further diluting the value of the dollar.

 

[CloverKnollFarms]

Any dopey bank manager will just let the bank fail, knowing our current leaders will just bail them out. Then more money is printed by our leaders, further diluting the value of the dollar.

Yes, increasing inflation, causing more banks to fail…. Then we can push the central government bank on the people. This is what they do, make bad decisions with their power, see failure, the claim if we give them MORE power, they can fix the problem they created. Too bad the general population isn’t wise enough to see the pattern

 

[rScotty]

I guess they can just park their car and walk 10 miles to work or not buy groceries for a couple of months. Sounds simple.

You bring up a good point. It's just as simple as you say it is. Even simpler, since there are an infinity of options between the car and walking.

Suppose we try for a solution..... On one end we put the most expensive & convenient - one person jumping into a new car and driving ten miles. And at the other end of the choices we put the least expensive and conventien i.e. walking 10 miles.

I suppose the first one that occurs is public transportation - or rurally we use car pooling. Some ride ride bicycles or scooters. You can probably name a few others. It all comes down to deciding to make some changes now when you have a choice versus later when you have less.

rScotty

 

[jyoutz]

Retail is trying to force everyone to abandon the cashier. Grocery stores used to employ baggers and cashiers, now they are moving to self-checkout only. Has the retail pricing come down? Their claim is a shrinking work force. Unemployment is down, yet we are losing jobs and not making much of anything. Are the welfare rolls up and not discussed?
When I am out and about, I see lots of younger people carrying cell phones and using plastic cards for payment or just ann app on their phone. Credit or debit? Uncertain, but everyone is spending something.

There is indeed a shrinking work force. Demographics tell the story that most western countries are an aging population with fewer young people to to fill in behind retirees.

 

[rScotty]

Are you safe & secure rScotty? From what it sounds like, you are doing ok. We need to be mindful of those just barely making it and understand their hardships.

Sure, there’s plenty of images of people waiting in line for a free food box in a nice expensive car, but there’s more in $500 cars than TV will show.

I'm neither safe nor secure. I wish I were. What I did was simply looked at what I was doing, starting fixing old things instead of buying new, and picked up a second job instead of doing so much reading and relaxing in the evenings. Still have my weekends and late nights - so am doing OK.

I do miss the boat and the fishing trips - but am lucky enough to be able to walk to a nice creek behind our place for some streamside time.

Since I originally came from a rural background I admit this is easier for me. Like going home.
But anyone can do it.

rScotty

 

[Cahaba Valley Farm]

Yes, increasing inflation, causing more banks to fail…. Then we can push the central government bank on the people. This is what they do, make bad decisions with their power, see failure, the claim if we give them MORE power, they can fix the problem they created. Too bad the general population isn’t wise enough to see the pattern

That's right

 

[Hay Dude]

Well, for one, I’m not. I don’t see the doom and gloom that everybody is talking about for our country. This is still the greatest country in the world and the opportunities are immense!. Maybe I’m lucky but I understand the rules of the current economic system and I applied it to my benefit. Yeah, if we were to go into hyper inflation like Venezuela, maybe I would be in trouble but pretty sure the country would implode if it happened, so you know, gold and guns, right?

That’s kind of like saying “there’s icebergs in the area, but we’re on the unsinkable Titanic“.
Maybe you personally for one are ok, but if many of your neighbors are not, your world can still collapse around you.

 

[TN8Man]

Yes, increasing inflation, causing more banks to fail…. Then we can push the central government bank on the people. This is what they do, make bad decisions with their power, see failure, the claim if we give them MORE power, they can fix the problem they created. Too bad the general population isn’t wise enough to see the pattern

Interesting you mentioned that because just two days ago our central bank (Federal Reserve) announced this ...

Federal Reserve announces July launch for the FedNow Service​

Get ready for the FedNow(SM) Service​

 

[tacticalturnip]

Interesting you mentioned that because just two days ago our central bank (Federal Reserve) announced this ...

Federal Reserve announces July launch for the FedNow Service​

Get ready for the FedNow(SM) Service​

Track every dollar, tax every dollar; track spending, control spending.

Control spending, control movement.

Fascism is fun.