Now, I'd like you to read this carefully and note the process by which farmers can be sent to the wall, and the way in which annexure of their properties seems to somehow enrich the 'big boys' -  There are questions to be asked here.

https://au.news.yahoo.com/a/22392262/farmer-peter-repacholi-evicted-from-102-year-old-wa-property-amid-drought-and-rising-costs/

"Dr Jacobs has been a vocal critic of the big four banks' treatment of farmers and their failure to tailor their services to better reflect the seasonal realities of farming.

He has also been highly critical of what he calls a cosy relationship between the banks and companies managing farm receiverships.

"Once farmers do get to the receivership process they've got 30 per cent equity left in their farm, the receivership process chews up the remaining equity and it's tragic that farmers have to go, even more tragic that when they do go there's nothing left," he said.

Ironically Mr Repacholi had a bumper year in 2013, harvesting about $800,000 worth of grain. But he had arranged finance outside the bank to fund his cropping program and after harvest, Bankwest claimed it all.

"They confiscated everything. They took every grain I took off the farm," he said.

He expected the bank to leave him with nothing. He estimated his farm, livestock and machinery were worth more than $5 million, but if there was a foreclosure sale he would be unlikely to see a cent.

"This is happening to too many farmers, what the banks are doing," Mr Repacholi said."

Hockey would likely comment...."Oh well, like I told you, the age of entitlement is over...."

The lack of application of banking services to farmers in a manner reflecting the peculiar realities of agricultural pursuits in Australia reflects greatly upon the quality of the political class.

If they were doing their job, they'd MAKE the banks respect the farmers' problems and tailor their services accordingly. But there must be little regulation, no matter what. Self regulation, that's it, and the bankster casino rolls on unabated......

Good on yer Joe, maybe you need to get right out front of each bank with your bull-horn. So far they seem to think the age of entitlement's rolling along just fine for them, thank you very much!

Yes - farmers have unique ebbs and flows depending on many factors, and this can mean boom or bust.  This requires a lot of careful planning and thought, and the good Lord willin' an' the creeks don't rise...

My readings on salt etc - salinity - indicate that prevailing westerly winds bring considerable salt-laden air on to the WA wheat area, a lot of which has been cut out of production.

http://www.csiro.au/Outcomes/Environment/Australian-Landscapes/Land-monitor.aspx

http://www.abc.net.au/science/slab/salinity/

a farm is a business like any other and should be treated as such. Dont like the banks rules? Dont borrow money from them.

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry....

I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

ian wrote on Apr 5^th, 2014 at 2:24pm:

a farm is a business like any other and should be treated as such. Dont like the banks rules? Dont borrow money from them.

Oh heck....why didn't I think of that.....
Why didn't I realise it's all just that simple!

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry.... I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence.

GrandPaPa wrote on Apr 5^th, 2014 at 2:54pm:

Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple!

Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.

ian wrote on Apr 5^th, 2014 at 3:08pm:

Grappler Deep State Feller wrote on Apr 5th, 2014 at 2:38pm: I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry.... I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable. Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence.

I'm not too clued up on the costs/expenditure/income position of farmers, but it seems to me somehow very lacking in something to have a multi-generational property and not be able to make a profit out of it without massive borrowings constantly.

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 2:38pm:

I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry.... I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable.

Debt is not the issue. It's the ability to pay it back that is the issue. As long as mortgage holders are making their repayments the Banks are happy.

Whilst the government has stopped bailing out manufacturing companies you can be sure that they will continue to pour money into the farming industry. It seems the age of entitlement isn't over for some.

ian wrote on Apr 5^th, 2014 at 3:09pm:

GrandPaPa wrote on Apr 5th, 2014 at 2:54pm: Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple! Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book.

Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution...
How much business experience have you had, professor?

GrandPaPa wrote on Apr 6^th, 2014 at 10:24am:

ian wrote on Apr 5th, 2014 at 3:09pm: GrandPaPa wrote on Apr 5th, 2014 at 2:54pm: Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple! Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book. Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution... How much business experience have you had, professor?

Says the post and runner.  ;D I have to laugh, almost every one of your posts attacks other posters who disagree with you with childish name calling. What happened here is you got the barb turned back on you and cant hack it.

ian wrote on Apr 6^th, 2014 at 11:40am:

GrandPaPa wrote on Apr 6th, 2014 at 10:24am: ian wrote on Apr 5th, 2014 at 3:09pm: GrandPaPa wrote on Apr 5th, 2014 at 2:54pm: Oh heck....why didn't I think of that..... Why didn't I realise it's all just that simple! Im sure theres a lot of things you dont think of. Never mind, at least you arent shy about displaying your ignorance. Thats a plus in my book. Here we go again, another fool more interested in juvenile points scoring than making an intelligent contribution... How much business experience have you had, professor? Says the post and runner.  ;D I have to laugh, almost every one of your posts attacks other posters who disagree with you with childish name calling. What happened here is you got the barb turned back on you and cant hack it.

You think my original comment was an attack on you...??
Poor thin-skinned Ian......
It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest.
And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that.
Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me.
It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall.

Rule 1: get away from the banks!

The world is turning and banks are buying up the farms vicariously!

Stockmarkets are run by the banks! Farming is big business..

If they get big enough do farming concerns become PRICE MAKERS??????????????????????????????
?????????????
???????????????????????
?????????????????????????????????????????????????  ::)

GrandPaPa wrote on Apr 6^th, 2014 at 12:32pm:

[ You think my original comment was an attack on you...?? Poor thin-skinned Ian...... It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest. And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that. Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me. It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall.

Lol, looks like I hit the bullseye. Gotta love these guys.

ian wrote on Apr 6^th, 2014 at 7:07pm:

GrandPaPa wrote on Apr 6th, 2014 at 12:32pm: [ You think my original comment was an attack on you...?? Poor thin-skinned Ian...... It was clearly an ironic comment pointing out there's more to the issue than your unenlightened simplification would suggest. And please....what barb? I'd consider a 'barb' to perhaps be an effective point of debate, and you certainly haven't come close to that. Anyway if your fragile ego needs a conquest, then be my guest. Any imaginary grandiose triumph you care to concoct totally doesn't bother me. It's just a shame that attempting adult discourse with light-weights like you is like trying to nail a blob of jelly to a wall. Lol, looks like I hit the bullseye. Gotta love these guys.

So far in this discussion I don't reckon you've hit a bull in the arze with a bucket of rice let alone scored a bullseye.

Yeah farming is just like any other business ey?

No other business has to contend with the variables of farming.

Remember they're the people who keep all you city slickers fed.

Gnads wrote on Apr 6^th, 2014 at 7:35pm:

So far in this discussion I don't reckon you've hit a bull in the arze with a bucket of rice let alone scored a bullseye. Yeah farming is just like any other business ey? No other business has to contend with the variables of farming. Remember they're the people who keep all you city slickers fed.

Bullshyte. nearly all businesses are subject to economic variables. See what i did there? I countered your opinion with an actual fact. Bullseye.

This is a morality question.
Australian farmers that I have met and have met many. Are decent, hard working people who feed not only Australians but millions all around the world with high quality produce. Very knowledgeable about farming but zero with regards to finance and the law.
On the other hand we have bankers - parasites from hell who deceive, cheat and steal these farms to make a quick buck. Disgusting..and whats worse is that these criminals get away with it .... for now.

Was just watching this story on Landline, and my ears pricked up at this.


Quote:

"Last June after reassessing him as a higher credit risk, Bankwest raised his interest rate from 8.5 per cent to 13.62 per cent." From OP

The bank considered this bloke to have become a greater risk???

Clever wanks, aren't they??
He'd be an even bigger risk with an increased repayment and less to spend on production.

Which is evidently what they wanted, as they have now reposessed.

I can understand, though not agree with, Reserve Bank interest rate variations, but where do banks get off suddenly "deeming" a customer to be a 'greater risk' thereby slugging him with a higher rate???

Where are all our National Party MPs??
Where is the Farmer's Federation???

Fat lot of good they're doing for the people they are supposed to represent!!!!

Grappler Deep State Feller wrote on Apr 5^th, 2014 at 11:42pm:

ian wrote on Apr 5th, 2014 at 3:08pm: Grappler Deep State Feller wrote on Apr 5th, 2014 at 2:38pm: I'm often intrigued by the level of debt that farms are in - sounds out of whack to me in a profitable industry.... I await with bated breath the banks closing up on multiple mortgage holders when the time comes... it seems far too many are holding far too much debt to be viable. Many of these farmers are just poor business managers. They seem to think that the taxpayer should be subsidising their incompetence. I'm not too clued up on the costs/expenditure/income position of farmers, but it seems to me somehow very lacking in something to have a multi-generational property and not be able to make a profit out of it without massive borrowings constantly.

the problem with farms, especially the bigger ones is that you need a lot of capital throughout the year with no guarantee of a return. Many spend figures like $200 000 just to plant hundreds of acres of crops, and a few bad frosts, or a flood, or a drought and there is no product to sell at the end of that year ... so the next year you have to spend another $200 000 and again, no guarantee of a return  ... do that a few years running and you quickly owe much more than your properyt is worth

same with stock ... especially during times of drought where all feed and water has to be trucked in over hundreds of kilometers ... if you have 10 000 head of cattle, it used to cost me $50 week to feed my dog, and water was for free, imagine food and water for a cow, then multiply it by 10 000 ..... where does the money come from? you can't sell the cows because their all bones and skin, it would cost more to transport to market that you could get ... they get stuck with them and have to hope that the drought breaks sooner rather than later