To illustrate, let me tell you a story. Many years ago as I began working in the equipment business, I went with my father-in-law to repossess some equipment for a local bank. In six months, the young farmer had made only one payment. The tractor and forage harvester were ready to go and strangely, he kept asking us for prices on a new baler and rake.
As we left I said: “That’s odd. He can’t pay for what he has already bought and yet, he’s looking to buy more.” My father-in-law responded, “He’s trying to buy his way to prosperity, and that never works.” By spring, the young farmer was out of business. It didn’t work then, and it won’t work now.
Chuck Pinkey is the owner of River Valley New Holland Inc. in Otego. He can be reached at email@example.com. The views expressed in this column do not necessarily reflect those of The Daily Star and its editorial board.