Posted by WellWorn on November 21, 2014 at 10:40:01 from (75.194.242.144):
In Reply to: Farm economy posted by BMAG on November 19, 2014 at 13:14:36:
Quoting Removed, click Modern View to see Just a reminder that insurance companies are in business to make money, and to do that they have to charge enough in premiums to cover what they figure they might have to pay out, plus cover their operating costs, salaries, officer perks, and still make a healthy profit to cover the unexpected disaster, plus shareholder dividends. This isn't "free money". Someone, somewhere, has paid in, be that other farmers, or the taxpayers. That later might be wrong, as at the current debt, it's now our grandchildren as taxpayers who will end up footing the bill to cover our losses, with interest.
There are a lot of smart farmers who look at the premiums for 'revenue protection', what percentage the policy will pay out and for what reasons, and with the pencil sharpened at both ends, do the math and say "no thanks". It all depends on how much room you have to fund insurance plus all your other inputs for the season, how you want to place your bets on how what you raise will turn out and how the market might be when you have to sell it.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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