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From Washington with John Block: Inflation


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I am concerned, and I am not alone. I remember the skyrocketing interest rates of the late 1970’s and early 1980. Farmers and ranchers along with other borrowers were paying 12% to 16% interest on their loans. Farmers borrow money almost every year to finance fertilizer, seed, chemicals, and machinery to plant, care for, and harvest their crops. The inflationary costs destroyed thousands of farms and all kinds of family businesses.
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