Episode-719- Listener Feedback for 8-8-11

So it is Monday and we have a lot to talk about like today’s most likely continued fall of the Dow in the heals of the credit down grade, both depressing and encouraging occurrences in the agricultural community, investing in tough times, harsh drought conditions and more.

Join me today as we discuss…

  • Gotchas when refinancing a mortgage
  • Russia says the US is an “economic parasite”
  • How bad the 2011 drought really is
  • The truth about the phony debt deal
  • Dealing with a low dollar 401K when leaving a job
  • CDL to drive a tractor, not quite but another blow to small farms
  • Stupid criminal humor, okra isn’t marijuana!  LOL
  • Growing potatoes in bags or in tires, my thoughts on why tires win
  • How cutting spending may change military retirements
  • Urban farming may revitalize cities if the politicians don’t ruin it
  • You are more likely to die by a doctor than a gun
  • Jefferson County Alabama may go bankrupt
  • Now we have roundup herbicide in the air and rain, yes really!
  • Jeff Clark says now is the time to buy not sell stocks, I agree
  • Why our credit downgrade doesn’t really matter right now

Additional Resources for Today’s Show

Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.

 

21 Responses to Episode-719- Listener Feedback for 8-8-11

  1. Jack, I know it is still early but, could we get another Deer hunting Podcast?!?! PLEASE!
    I am thinking about putting out a food plot and it would be great to hear you thoughts on the subject. Besides, I love hearing about deer hunting LOL!

  2. NotoriousAPP

    +1 on the deer food plot discussion. I need to put one in at the BOL this year. It would be my first year trying this. I would love to hear about drought resistant food plots, I have no water at the BOL and I’m in central Texas where we’re having an extreme drought.

  3. The aquaphonics link says it’s broken.

  4. +1 on the deer food plot podcast.

  5. Hi Jack,

    Do you have a link to the doctors vs. gun owners info you shared? I’d love to repost on facebook, etc.

    Thanks! Jen

  6. As a tip on potatoes in tires, get large light truck tires instead of semi-truck tires. The semi-truck tires will work, but they have steel belted sidewalls and require a log more effort (sawzall) to cut through all the steel cords whereas the light truck tires can be cut with a box cutter. Found out the hard way after getting a truck load of semi-truck tires. :|

    • Modern Survival

      @Ted, you just made me feel dumb. Not cause I did semi tires I did truck tires like you said but cutting them with a razor knife is a chore. I bet a fine tooth sawzall blade would do it like butter. Smacks head! Duh!

  7. Jack,

    One problem with listening to you is that you are proving to have a good track record when talking about what you think is going to happen. My wife and I have been debating on whether or not we should take the plunge and start feeding the Roth IRA through Fidelity. I hear you say a lot of things that shy me away from investing my money there, but I also know I need to do more than I already have (not much in the big picture). Am I thinking too much or not enough?

    You also have mentioned that I can get the money out “If I fill out the paper work correctly.” Can you provide more info on that?

    Thank you for a great show!

    • Modern Survival

      Understand a ROTH is just a way to hold money. If you do it in a ROTH you eliminate taxes, that is the point, nothing more.

      With a ROTH you pay taxes before you invest, so you can withdraw up to 100 percent of what you contributed with no interest or penalties. You can NOT withdraw any gains unless you pay interest or penalties on them. It is that simple.

      The key is a ROTH alone is neither good nor bad it is the investment inside the ROTH.

  8. I know many people do it, but I would think twice about using tires in the garden. The experts are divided and some do think that tires will break down over time and leach toxic substances into the soil.

    http://www.motherearthnews.com/ask-our-experts/are-tire-planters-safe.aspx

  9. Jack, For potatoes I use the big 50 lb dog food bags from sams club and the big potting soil bags as well. Just turn them inside out so they look better. Best of all ….. Free, they were going in the garbage anyway.

  10. Regarding the first question on the mortgage… This is going to vary by state, but in Nevada, if you dealing with your primary residence and you do not take out a second mortgage and do not refinance ever from the original mortgage, then the loan is no recourse, meaning if times get tough, you can walk and they can’t come after you. If you refi, then that new mortgage and any subsequent refi is recourse, so they can come after you with a deficiency judgement if you ever need (or decide) to walk away. Just wanted to mention that, and of course the laws vary by state, but that’s something very few people in Nevada realize – so DYODD and make sure that if you refi you understand what rights/protections you might be giving up.

  11. Jack, I think that you’re just about spot on with the military retirement thing. There’s some good, bad, and ugly with this thing:

    The good is that you take your retirement with you, and it’s out of the government’s greedy claws.
    The bad is that you’re not able to do your 20 and get paid for the rest of your life. I’m not sure if I’m going to retire or not, but it sure was a nice option to have. Retiring at 42 would have been awesome.
    The ugly is the age at which you can draw your investments out. If it’s 59.5, what’s a person to do when they’re too old and broken to be in the military, but too young to draw out their savings? It will be necessary to ensure that you’re getting a useful and marketable skill set and education while you’re still in the military.

    Bottom line is that I’m not very happy with the current implementation of this thing. If they do what you say, it will make it a little more palatable, but not by much.

    • Modern Survival

      @JAG2955, Agreed and if you listen to today’s show there is an update on this. What you point out to me spells a big down tick in infantry recruiting. If you do 20 in just about any MOS other than combat arms you come out with some specific civilian relevant skill. With combat arms you come out being good at security or as a merc, not much more, as far as most employers are concerned. Now a 20 year infantry vet, hell I would hire them in a snap for many jobs but I am the exception.

  12. We paid off our car loan & dropped some of the insurance, save $$ this way.

  13. One reason they are looking at CDL’s for farm trucks and such is that many farmers don’t know how to safely operate the big equipment. I live in a rural farming area and it can get hairy at times because these guys can be maniacs behind the wheel. There are a lot of people out here asking for this, so it is not totally a money grab by the government.

    • @Ron, well that does make sense. I think the initial outrage was due to the misinformation that this effected people using farm equipment on farm property. It doesn’t so the regulation seems at least partially reasonable to me.