Comments

Episode-1630- Listener Feedback for 8-24-15 — 18 Comments

  1. Jack,

    My take on why there are so many in the Republican field. It is in part as a way to help control the vote. Remember in the end they don’t want a true believer to win they want there choice to win. We saw this 4 year ago. When they put 1 candidate that was selling the middle and a bunch selling the right. The voters still get to vote and the party needs to make sure in the end they vote for who they want. Last election Mitt never got more then 40% in the early primary the same was true 4 years earlier with McCann in the end they still won because they still got the highest percentage not because the majority of the primary voters wanted them but because the field was so divided.

    Thanks
    Robert

  2. Well, Jack, I got out of the market today, parked in money markets. I meant to do it on Friday but it was a busy day at the office . I had been in the market for a long time so I didn’t lose, just didn’t make as much as if I had gotten out 2 months ago, six would have been much better.

    I did have a position in an oil MF which pained me to exit because I had bought it on 2014 and kept average costing since then. So I took a hit on that one. I may double down on it (oil, not necessarily the fund) once oil hits a bottom which I don’t foresee being too far from the current price from an extraction point alone, but I’ll wait and see.

    RE: Politics,
    It may come down to Trump vs Biden. Nobody knows Sanders.

    RE: Student loans,

    Wouldn’t a collapse of the student loans be equivalent to yet another banking collapse like in 2008? In ’08 it was toxic assets, next time it’ll be unpayable student loans. The government as usual will extract the bailout from the middle class if there is any left by then. What’s different?

    • I think Trump vs Biden is even less likely than Trump vs Sanders, remember this is Ventura’s prediction in the first place not mine.

      Biden though, I keep wondering if that is the Democrat Mafia pant to sink the SS Hillary. It could be. If Joe is smart he won’t announce until say a month or two before Iowa, avoid the bullshit going on right now, mudslinging etc and let the candidates murder themselves in pre election BS.

  3. My husband retired end of last year. Plan was to spend this next year building, then he would find another job, meanwhile doing some contract work.
    Rather than have all our savings in one spot, he elected to take a lump sum (as he could without penalty). We paid the last bit off on our home and other bills, money for building a shop with living area on 4 acres we own (still more to do, more $ too), money in an account which we can draw $ out as needed, taxable year drawn out (paid from salary throughout 2014 and invested in cash), and rolled rest of lump sum over into an IRA. My husband wanted to make sure we not move into the 25% tax bracket. Meanwhile receiving retirement income.

    That IRA was invested 1/3 in oil as the stocks were at an all time low, and advised they would surely go up and meanwhile pay dividends, rest in other stocks which later moved into mutual funds and a few bonds. Much I don’t know about all this.

    Earlier this summer I mentioned we should look at other options for the IRA. Like what, cash, or something else. Cash is ridiculous, what if it becomes devalued? I want to move the money out of cash I have in the other account. I’ve only gained 1% in over a year.

    Today I made him look at the stock market. Not good. What do experts suggest we do? I showed him various articles and that on today’s show Jack is advising cash. What does he know? Cash is stupid, you don’t make any money there, look how little we’ve made on the other account. So I showed him the IRA which has lost about 8% most of it since June, about half of that today. 1% gain beats 8% loss. He is hoping it will go back up and stay there.

    I’ll give him a couple days to think about things and hopefully it will be back up a little. Some people are early adapters, others aren’t and have a hard time with change, need time to let things sink in.

  4. In response to the gentleman with the mold issues in fodder. In addition to rinsing the seed thoroughly, try using a couple of chamomile tea bags in the initial soak. I spritz our microgreens with chamomile and there is a lot of advice out there to use it in the seed soak. Also, it is possible that you have a batch of seed with a lot of dead seed in it. If you have even as little as say 5% non viable seed, it will mold and spread fast.

  5. My news feed today is full of “unprecedented” and “historic” stock market drop.

    Seems to me they said the same thing about 2008, too.

    • Today it should be talking about the best rally of 2015. Tune in for a short segment later today as usual I can tell you want the TV never will about the scam they ran.

  6. I really enjoyed this episode, great mix of economics and homesteading. Funny how the market gave another chance today for people to get out just like you said it would Jack.

  7. “If you put a gun to my head and made me pick…. I might just let you shoot me.” Hahaha, for a second I thought you were actually going to pick one and deal with the subsequent onslaught.

    • I know it sounded like planned entertainment but honestly I just had to say what I really thought!

  8. Still listening to this one, but had to point this out. I’m afraid it’s much, much, worse than you think.

    50% of $1.2T isn’t $600 Million… It’s $600 Billion with a ‘B’.

    Or roughly one third of the current national debt.

    Have a nice day!

  9. Re: Student loans
    I pulled the trigger last month and paid off the all of my consolidated student loan in one fell swoop (about $18K worth). It was consolidated at a very low interest rate (1.62%) back in ’05 a month after I finished school, so we held off paying it all off as that money was getting a better return elsewhere. But since early this year I just could not see anything worth the risk putting that money towards, so we just went ahead and paid it off. Unfortunately from what I see my case appears to be the exception, as my coworkers around my age or younger say they’re nowhere near close to paying off their loans, and I know at least a few of them owe far more than I did. And these are the ‘lucky’ ones… those who happen to have a job and are earning more than $50K per year. I suspect at least some of them are hoping that some student loan forgiveness will be made available to them in the future (possible, though I suspect there will be some nasty strings attached which is why I decided not to hold out for that hope).

    Hmm, Trump vs. Sanders… with a gun to my head, I’d grudgingly pick Sanders. Of the entire “Assclown Circus” (my former term for the drivers here in Denver, but lately it seems even more appropriate for the GOP and Dem. ongoing popularity contest), I see Sanders as somewhat less fascist than the rest. As prez he would have somewhat limited ability to promote his counter-productive (in my eyes anyhow) economic agenda, so maybe the damage there would be limited. But absent the gun? None of the above. I’d rather write in Beavis and Butthead for president and VP…. they would do nothing but watch TV while on the job (so there would probably be less overall damage done by the political establishment), and I bet their ‘free nachos’ platform would be far less disastrous and costly than the Affordable Care Act 😉

    • I have $219,000 in student loans, my hubby has another 30K. We have no other debt and are set to inherit our land. I don’t see any kind of hope in ever getting the student debt paid off.

      Income Based Repayments brings my monthly loan payments to ZERO, and they are supposed to forgive after 25 years (or upon my death). If they actually do forgive in 25 years , I would think the best strategy is to pay as little as possible in that interval, and expect to pay taxes on the money that is forgiven. This may actually come out as an even balance to the original loan unless they really inflate the currency since our rate is set at 5.5% and should not capitalize. They will have to develop a process to settle this tax debt though – everyone I know is doing this so there are a lot of people that will start getting slammed with this 25-30 years from now.

  10. Please, people, when you go to pay after filling up your gas tank LOCK your car.
    You have a lot of money invested in the locks on your car and they only work when you use them. Going shopping for a new car after shooting the perp who drove it last is not a good use of your time.