Jul 26, 2014
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U.S. Farm Report Mailbag

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Comments, questions, opinions...this is your chance to speak out regarding anything and everything reported on U.S. Farm Report. Viewer feedback updated regularly.

John's World Comment

Nov 24, 2008
My father had the same mind set.  He kept his savings in his checking account.  When a local bank went public he not only passed an opportunity to buy stock at a prefered rate, but pulled the money out and put in another bank.  That stock later more than doubled in a few weeks time.  Dad always kept his money back for the coming hard times which never came in his lifetime.  He had the opportunity to buy land which later greatly increased in value, but never took it.
Sincerely,
Bill Patterson
Ohio Farmer

Editor's Note:  Bill is referring to the following commentary from John Phipps that aired last weekend on U.S. Farm Report:

   ALTHOUGH AGRICULTURE IS JUST NOW BEGINNING TO FEEL SERIOUS EFFECTS, THE REST OF THE COUNTRY HAS BEEN IN A SERIOUS - IF UNOFFICIAL RECESSION - FOR MONTHS. iN FACT, THE PERSISTENT INTERMITTENT BEEPING YOU CAN HEAR IF YOU LISTEN CAREFULLY IS THE SOUND OF OUR ECONOMY BACKING UP. 
   iN A WAY, I'M SORRY MY DAD DIDN'T MAKE IT TO WITNESS THIS EVENT. HIS LIFE WAS ONE LONG WAIT FOR THE NEXT GREAT DEPRESSION - AND RECENT DEVELOPMENTS SEEM TO BE GETTING CLOSE TO THAT HISTORIC PERIOD. tHE FORMATION OF HIS ECONOMIC VIEWS WAVERED LITTLE FROM THE OCCASIONALLY SANCTIMONIOUS RISK-AVERSION LEARNED IN HIS YOUTH. ONLY CASH GAVE HIM COMFORT AS A FORM OF WEALTH. 
   bUT AS MUCH AS I ADMIRED MY DAD, I LEARNED WHAT THIS MINDSET COST HIM. hIS HARD-EARNED SAVINGS BARELY OUTGREW INFLATION OVER THE YEARS, FOR ONE THING. MOST OF ALL I LEARNED THAT IF YOU ARE CAUTIOUS DURING GOOD TIMES, cONTRARY TO WHAT MANY PROFESS, YOU WILL BE EVEN MORE CONSERVATIVE DURING BAD TIMES. 
   tHE IDEA THE DAY WILL COME WHEN CASH WILL BE KING IS RIGHT, BUT IT WILL NEVER RULE. PEOPLE WON'T BEGIN TO PART WITH IT UNDER THOSE CONDITIONS. i AM NOT CRITICIZING MY FATHER OR THOSE WHO SHARE HIS FINANCIAL STRATEGY. I'M SIMPLY POINTING OUT IT THERE DOESN'T EVER SEEM TO BE A RAINY-ENOUGH DAY TO TAKE ADVANTAGE OF A LIFETIME OF WAITING.
 
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