Interest rates were and are a big part of it also. Way too high in the 80's and way too low for quite some time. Grain embargo to Russia then had a big detrimental effect also. Government causing artificial economic results. I left the farm after tech school in 73. I paid 12% mortgage interest all through the 80's. I lived in Waterloo which had unofficial unemployment rate of about 25%. I think Dubuque was about the same. I didn't necessarily like my job, but had one. You couldn't go shopping for a job elsewhere because the house value's had gone down the tube. So many foreclosed houses on the market at fire sale prices, that the only alternatives were to stay and tough it out, or walk away from the house as my neighbor did. He was employed, but decided to heck with his credit rating and rented a house much cheaper than his mortgage and taxes were. When I moved out in 91 I sold my house for about 75% of what I had in it. I think as a lot of you do, that this is going to happen again, although I hope not with such severe results. Commodity prices have been unusually high for a number of years. The pendulum swung the other way now.
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Today's Featured Article - Fasteners: The Nuts and Bolts of Nuts and Bolts - by Curtis Von Fange. The nuts and bolts of nuts and bolts is an interesting and essential piece of knowledge that applies to our older tractors. An improperly torqued capscrew on an engine head or a shear bolt that is too hard on the driving shaft of a bushog can create havoc and make an expensive and uncalled for repair. Let�s examine the purpose and design of these fasteners in order to ensure their proper use. Fasteners are probably one of the aspects of mechanics that is given the least amount of thought.
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