Financial topics

[Higgenbotham]

When my parents would go back to their birth place and I'd tag along (up to about age 34 that I can recall) a typical conversation would go something like this (my mother talking to a childhood friend, for example). One of her kids might be working for Cargill in Minneapolis (grain dealer). Maybe another is working in automotive manufacturing. Another might be a nurse in a medical facility in Omaha. Another might be working at a grain elevator in town. Then maybe one of the kids was involved with the farm and maybe not.

[Higgenbotham]

This is why the kids have been leaving for decades.

"Dittrich agreed it would be a big crop. But that doesn’t necessarily add up to big profits. “Marginal profits at best,” Dittrich said. “Most likely losses. The best crop we’ve ever raised."

A professional job in the city looks good to many compared to this uncertainty. Overall, they do well.

http://netnebraska.org/article/news/989 ... onomy-edge

Many today would rather be the spiffy Federal Reserve economist pictured rather than the 2 old blokes in the field.

[John]

> This is why the kids have been leaving for decades.

> "Dittrich agreed it would be a big crop. But that doesn’t
> necessarily add up to big profits. “Marginal profits at best,”
> Dittrich said. “Most likely losses. The best crop we’ve ever
> raised."

> A professional job in the city looks good to many compared to this
> uncertainty. Overall, they do well.

> http://netnebraska.org/article/news/989 ... onomy-edge

I don't understand why they're surprised about this. In Economics
1.01 you learn that even the Romans knew that the more food the
farmers grow, the less money they make. Oh wait ... news reporters
don't know anything about economics.

[Higgenbotham]

This is the year referenced in the article. When they have good years, they're really good and I think the future may hold many good years for farmers, relatively speaking, and many not so good years for Federal Reserve economists (as an example), or maybe former Federal Reserve economists. Just an idea to consider.

http://i68.tinypic.com/5uoio9.jpg

[Higgenbotham]

https://en.wikipedia.org/wiki/List_of_U ... ita_income

This is really interesting. You can sort all the counties in the US by population to see which low population rural counties have the highest incomes.

The 10th highest income (per capita?) county in the US is Borden County Texas, population 649.

10 Borden Texas $50,042 $71,607 $76,250 649 225

[Higgenbotham]

Boomers need to grow some compassion and invest in their kids. Remember the younger generations are America's Future and the West's Future.

Last thought on this. 20 years ago (in 1998) I had a realization.

The Boomers beat me to the good jobs. Nothing I could do about it.

They beat me to the cheap real estate and drove house prices up. Again nothing I could do.

Then I thought they haven't retired yet. I'm going to buy a retirement property and sell it to a Boomer and get my due. I headed out to Idaho near a ski resort and looked at properties. It was the Fall of 1998 and I timed my trip during the 1998 "Asia Contagion". There was a really nice property listed for 89K and I bought it for 55K.

I waited 6 years and called my Boomer broker and asked him if prices were up and he said yes. He sent me a listing contract for $119K with 10% commission. I thought if he could get 119K I'd give him the 10% and signed it and mailed it back.

A Boomer called me and asked if I'd lower the price. I told him no, the other Boomer is charging me 10% commission. Ask him to lower his commission.

The Boomer wouldn't lower the commission and the other Boomer paid the 119K.

My Silent relatives loved that story for some reason.

What I'm saying is figure out something to sell to the Boomers and have them invest in you that way.

[Higgenbotham]

Looks like a good business. Basically, anything the Boomers need to buy is worth looking at because it will trend up and up for decades.


Diapers for Baby Boomers Give Boost to the Paper Industry
By Jen Skerritt
March 9, 2017, 6:00 PM CST Updated on March 10, 2017, 5:58 AM CST
Digital era kills paper use; adult incontinence fuels growth
International Paper, Domtar expanding fluff-pulp capacity
Diaper-wearing baby boomers are coming to the rescue of the beleaguered paper industry.


Betting on boomers, P&G enters the adult diaper market
Sara Eisen | @saraeisen
Published 2:44 PM ET Fri, 8 Aug 2014
CNBC.com
P&G's bet on adult diapers
12:01 PM ET Fri, 8 Aug 2014 | 01:28
It's the fastest-growing household products business—growing faster than toothpaste, tissues, toilet paper and other multibillion-dollar household staples. Give up? It's adult diapers.


We’re peeing in our pants. Lucky for the diaper industry
BY ANA VECIANA-SUAREZ
aveciana-suarez@miamiherald.com
March 13, 2017 09:10 AM
Updated March 13, 2017 09:55 AM
Diaper sales are booming, but the customers aren’t young parents swaddling their babies.
Baby boomers are buying more absorbent hygiene products than ever, helping a beleaguered paper industry that has seen its fortunes plummet as information grows increasingly digital and paperless.
U.S. retail sales for incontinence products are projected to increase 9 percent in 2017 and 8 percent in 2018, according to Svetlana Uduslivaia, the head of industry research at Euromonitor International. In 2016 sales adult incontinence products racked up almost $2 billion.

[Higgenbotham]

Regarding selling "personal" items, I got a tip from somebody once. They said go to drug stores and look for personal stuff that people won't want to go into the store and buy because it's embarrassing that are on closeout. Buy all you can and sell in online at full price. She said it really works.

I can imagine a lot of Boomers would feel embarrassed being seen buying diapers. Set up a website that specializes in discreet shipping of adult diapers.

Over Half of Seniors Plagued by Incontinence: CDC
Older men and women prone to urinary and bladder problems, report finds

I had no idea it was this prevalent. Maybe it's so prevalent people aren't embarrassed to buy these products, but that can be tested. I may try to test this in some way.

[Higgenbotham]

New law permits OTC hearing aid sales, lower consumer costs projected
By Ripon Advance News Service | August 23, 2017

https://riponadvance.com/stories/new-la ... projected/

Hearing aid sales trends

http://www.hearingreview.com/2018/01/he ... -3-4-2017/

[Higgenbotham]

There's your competition and it looks like they're doing lots of business.