A dangerous economic trap into which farmers and ranchers must not fall. David Sparks, AG Information Network. Agricultural economist Dr. Garth Taylor warned about a precedent that was set back in 1980 by farmers and ranchers and encourages that same group in 2022 to avoid the pitfalls of borrowing against land. Speaker2: In the eighties, they were borrowing against land commodity prices that tanked for their operating loans. They are borrowing against the land and the land started to tank. And this is what got him problems in the eighties is borrowing against declining values of land and the bankruptcy soon and started to increase at that time. And what we want to do is we don't want to get in a situation where we're borrowing against land and we're having very high interest rates. Some of these generations of these kids that are farming now have never experienced 14, 15, 16% interest rates on their operating loans. And this is a very real possibility as those extremely high interest rates on their operating loans. Please get out of that situation where you're not borrowing against the land, where your prices and your income are covering your operating loans. You can be clean. There's so far there have been very clean balance sheets and we want to keep them that way. Speaker1: By following Dr. Taylor's advice.