Farmers vs Banks

  Following the online rage over the ANZ's foreclosure of the farm in Queensland, the bank has reversed its decision and put a moratorium of 12 mths. on foreclosures against drought affected farmers. Other banks have not yet come to the party.                                                                                   The particular case was a disgrace as the farmer had not defaulted on repayments. Surely there is a case here for a govt. or farmers' co-op to set up a bank, perhaps not-for-profit, that can support farmers in such times, rather than handing out drought-relief grants. Besides, where is the Farmers' Union [ whatever its called], that should be ready to step in and legally challenge such unconscionable behavior.                                                                                                                                 From another angle, there is another principle involved. Farming is a business which individuals choose to take on to support them and their family. Sure there is something of a life-style choice involved. But this is true of most self-employed endeavours. Is plumbing or a courier business or an independent medical clinic any less important to society? When one goes into business it behoves one to ensure that it comes with reasonable chances of being viable, especially when a large amount of capital has to be borrowed. Farmers in Winton and similar drought-prone areas have gone into a business in an area with extreme risks associated, whether the farm is an inheritence or was begun from scratch. I personally, in self-employment, have been adversely affected by govt. policy change, by the high dollar, by the low dollar, by a jump in interest rates, by credit squeezes, downturns in demand and so on; and have declared bankruptcy once. It is encumbant on every person in their own business to continually review their viability, make adjustments where necessary or plan for an equitable exit or change of occupation, the way many farmers have diversified and/or gone into value-added production.                                                                                                                                    It is so tragic that so many farmers take their own lives. Tragic for the families left to find a way to cope. There are alternatives. What about the many thousands laid off when a factory or plant or business goes under?