Chatting to a dairy farmer recently Stalker was surprised to hear him say that banks were falling over themselves trying to lend to farmers.
One shouldn’t be too surprised, as agri business is one of the boom areas in the economy at the moment. As the astute famer pointed out though – it may be boom times at the moment, but inevitably a bust will follow, just as in the property market.
He warned about getting too big and then falling into the same trap and meeting the same fate as developers did in the last property boom.
It makes one suspicious of the banks even more – have they learnt nothing? Probably not.