Financial Briefs

Breaking financial news from Wall Street to Main Street

Wall Street turmoil not affecting farm financing, loan conditions in nation’s Heartland

Posted by financialbriefs on September 26, 2008

The economic turmoil on Wall Street has not reached the dusty country roads in the nation’s Heartland, where a rural economic boom has meant farmers are not having much trouble getting loans to plant crops, buy land and replace equipment.

“The fundamentals of agriculture right now, in terms of income and opportunities, is good. There are profits to be made, so I think that is underpinning the willingness to lend to that sector,” said Jason Henderson, a branch executive with the Federal Reserve Bank of Kansas City.

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2 Responses to “Wall Street turmoil not affecting farm financing, loan conditions in nation’s Heartland”

  1. averageuscitizen said

    It’s funny, I have 2 friends here in Los Angeles who purchased and/or sold homes in the last week, and a number of people who have purchased cars.

    I have another family member who purchased a home in Florida 3 weeks ago. So the credit market has not come to a screaming halt, it seems to have come back to it’s senses, which is what needs to happen.

    A financial “product” is not a product and we should stop calling them that. They are ways to move money around quickly. It’s a shell game and one that should only be used as a last resort and not as a normal way of doing business.

    It’s called living within your means. A simple, common sense economic theory that seems to have been deemed quaint by much of America over the last 30 years.

  2. financialbriefs said

    well said…everything is cyclical, booms and busts…it’s a global ‘slowdown’, not a global ‘stop’…thanks for the informative comment

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