Posted by Cas on March 02, 2015 at 11:16:38 from (67.240.143.108):
In Reply to: Re: truck loan posted by LAA on March 02, 2015 at 05:25:34:
LAA I do not you think have any knowledge of farm loans or risk management. I am a small fish surrounded by a lot of big fishes I do business with. Nobody has defaulted on a PCA loan and everbody around here deals with the local banks for their needs. I think what JD Seller is trying to say is that we might have a financial meltdown. If you bother to read the Federal Reserve Reports. Even just pick a few from the Philly Fed to the Kansas City Fed or even The Dallas Fed. The financial services and banking system is worse than the meltdown of 2007. The thing about a meltdown it that you can not get out your 401k. Their are no buyers. I had this happen to me on 10/19/87 the day the NYSE dropped 700 points. Had several sell orders in...three days later they all came back not executed. Have a few mutual funds now in a 401k, but money in them in is sure as hell not grocery money. I think you should start reading more on the history and future of the 401k. The guy asking about what to do with $10,000 has a one year reserve fund. Above the 8 months recommended. When the retrenchment or collapse comes you need home more than the pickup. Naturally if things do not get to bad, this guy will payoff the pickup. But, if gets real bad the pickup might not be worth much. This is I think what JD Seller means about risk management. Why should not everyone have a plan on risk. Every large corporation has a portfolio of risk management. JD Seller has been around a long time and I do not think he accomplished that by playing with the flavor of the period all the time. Amen
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