Dunno if I’m in the wrong forum, so admins can move ad lib, not that they wouldn’t, just sayin’ sorry in advance if I’m wrong.
So, I’m watching CNBC at the oil change place (because I don’t at home) as the bailout passes, and the wall street/main street cliche gets kicked around as it usually does and they bring up how the drying up of credit is a critical problem, particularly for ranchers, who only bring their product to market once a year.
I was kinda floored. I’m guessing I had carefully formed the preconception that the only people who lived on day to day credit were profligate townies, or people who’d overreached themselves with their mortgage, and a little belt tightening and fiscal responsibility would be a good thing that might even help the financial crisis we’re in.
So I’m asking for the assembled wisdom of Dopers, is ranching and farming, by definition, run on credit, with the hope of a major windfall at the end of the season, to payoff principal, interest, and leave a profit?
Because, if so, I’d expect fewer members of congress acting all snide with regard to the bailout (yeah, I’ll keep using that loaded term, don’t feel like typing in the bill’s entire name) than there are. I’d expect large group representing ranchers and farmers to be really concerned about drying up credit, and to have tried to influence the congress more in favor of a bailout. But the soundbites I’d heard didn’t seem to bear that out.