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 - The Day Mom Drove the 8N - by Brian Browning. My Dad was wanting to put in a garden but couldn't operate the 8N and handle the old horse drawn plow he had found and rigged up to use with the tractor. Well, he decided to go get Mom out of the house and have her drive the tractor while he walked behind the plow. You got to understand that while my Mom is a hard worker who will always help whenever she can... she had never operated farm machinery before that day. Dad got her out there, explained how the clutch was the same as in our o
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