New Tractor Sales Are Declining

[5030]

I know, but just haven’t heard of people doing certificates of deposit anymore.

Why bother when the yield rate is less than the rate of inflation.

 

[Tinhack]

I can buy chicken in bulk at Costco business center for under $2/lb vs $5-$6/lb at most grocery stores.

And what does the membership add to that chicken? I can only buy from the local-to-me stores and Costco is not one of them. My food would be spoiled by the time I got back from the big city. Oh yeah, I can get $1.99/lb. chicken too, but I don't want to mess with storing it or cooking it for one person.

 

[5030]

I'm thinking bank runs could breakout across the nation if this keeps up.

Why I won't deal with a commercial bank. We do a credit union where the members own it. Think you are right on. on bank runs soon.

 

[5030]

I can get $1.99/lb. chicken too, but I don't want to mess with storing it or cooking it for one person.

More than one person here and same with Muhammad. He has his wife as well as a child to feed... least we don't pay for eggs, farmer down the road always has a lot and we get them from him.

 

[ruffdog]

Why I won't deal with a commercial bank. We do a credit union where the members own it. Think you are right on. on bank runs soon.

The problem is some of our local credit unions are being run by big-bank-minded people and are losing the credit union feel to them. They are no different than a good region bank then.

 

[Tinhack]

I deal with a local state bank. They've changed a lot since I started with them in 1998. The building is twice and big now too. I guess they got that way by paying less than 1% on savings now too.

 

[5030]

The problem is some of our local credit unions are being run by big-bank-minded people and are losing the credit union feel to them. They are no different than a good region bank then.

Not ours. Ours is 100% member owned and managed. If that changed, I'd be going elsewhere and I'm sure that would not make them happy as we have a huge bundle invested with them. In fact, my wife sits on the BOD.

 

[Milo]

Now you have me concerned about the money I have in the bank, actually 2 banks. Plus Vanguard. Not sure what else I can do with it though?

 

[5030]

Now you have me concerned about the money I have in the bank, actually 2 banks. Plus Vanguard. Not sure what else I can do with it though?

Under your mattress...lol I have quite a bit of capital in precious metals and gems as well as vintage firearms as well as my 2 Rolex watches. One thing about Rolex watches, they are expensive to purchase but hold their value extremely well.

 

[TN8Man]

Under your mattress...lol I have quite a bit of capital in precious metals and gems as well as vintage firearms as well as my 2 Rolex watches. One thing about Rolex watches, they are expensive to purchase but hold their value extremely well.

Holding cash won't work. Cash will be worthless before too long and only central bank digital currency (CBDC) will be used.

 

[tacticalturnip]

If things get so bad that you look to sell off your watches, well, there won't be many around to buy them.

 

[Cahaba Valley Farm]

Looks like we are finally reaching the Minsky moment despite all the efforts to avoid it since 2008. Will be great for anyone with significant cash & liquidity, very bad for anyone reliant on credit. Not sure where the trigger will come from ... commercial RE defaults? Federal shutdown/default over debt ceiling? New regulation of banks? Government pension underfunding? Blow out in credit spreads? Whatever it winds up being, the party is almost over & asset values will reach "once in a lifetime" levels that should permit anyone with cash & balls to fare extremely well on the other side of this.

Yep 100%

 

[5030]

I've been wanting to buy a ditch/bank mower but those have gone up over 30-40% since the beginning of the year. That's outrageous! They haven't improved 30-40%. I'm holding on to my cash for now.

Bought a new stump grinder a month ago and it wasn't a cheap date either but it will actually make money for me once I grind out the 30 odd stumps I have here. I didn't get a Bauma Lite either. Bought a 3 point mount Landpride. I just keep piling on the work when I should be doing less..

 

[5030]

If things get so bad that you look to sell off your watches, well, there won't be many around to buy them.

Always a market for gems and Rolex watches, no matter how bad it gets, not that I want to sell any of the 'stuff' anyway but I suspect when I pass, my wife will...

 

[5030]

Lets hope not. All that does is put the central government in 100% control of your funds. I don't need that and neither do you.

 

[TN8Man]

Lets hope not. All that does is put the central government in 100% control of your funds. I don't need that and neither do you.

That is their plan and they already started the process.

 

[Torvy]

The banks haven't had to pay depositors any real interest since 2008. Nothing but a gravy train of endless free money for them for so long.

That's not how it works. Banks make money on the difference between the rates. It really does not affect their margins much regardless of the total rate, except that higher rates result in lower loan volume as fewer customers are willing to pay high rates. Effectively, the banks are a passthrough.

The Fed did not create inflation, they just responded too slowly to it. Printing money is always at the core of inflation. Only Congress can spend money. It doesn't matter how hard the brakes are being pushed if someone is flooring the accelerator.

 

[tacticalturnip]

Always a market for gems and Rolex watches, no matter how bad it gets, not that I want to sell any of the 'stuff' anyway but I suspect when I pass, my wife will...

She isn't a watch collector?

I've invested in firearms and homesteading implements, I think those will hold their value as well.

 

[CloverKnollFarms]

And look at the latest projections for jobs to be replaced by AI. There will be more turmoil coming. Maybe those without jobs can buy Teslas and drive for free

 

[jyoutz]

Why bother when the yield rate is less than the rate of inflation.

Yep. That’s why they faded away. 2% interest recently. In the 1970-80s, they were paying 5-10%. But during that time inflation was 10-15%.