Over-Production, Land Boom, & Over-Borrowing
Howard Lanan>NIU Collection>NIU Collection, Segment 12
- Discusses overproduction in the 1980s. Before that we were trying to feeding the world. Talks about the financial ramifications of the land boom, borrowing money against it, downturn of land values, people lost money. Farmers got in trouble because they borrowed on over-valued land. When land prices dropped they were in trouble.