Letter Re: Advice on Refinancing

James, I’d like to respond to our friend who asked if refinancing from 5.2% down to 3.88% is a good idea. To answer that, consider what we just did. We refinanced our house from 4.5% down to 3.75% and borrowed a further $40,000, from equity. The result is that we still pay $100 less each month in mortgage payments. While we have more debt, now we also have more equity in the house in the form of $33,000 worth of solar panels and battery backup that we had installed. We also squared away most of our remaining important preparations and …


Economics and Investing:

Analysts fear euro-zone capital flight might snowball. (Thanks to Jon M. for the link.) Why a Gold Crisis Looms? G.O. recommended this: Fed Up With the Euro? Start Your Own K.W. sent a link to some dubious predictions: Food prices continue upward. Given the recent jump in corn and other grain prices, I have serious doubts that we will see just a “2.3% to 3.5%” increase. Several good articles from ETF Daily: Our Economy Has Been Collapsing, It Continues To Collapse, and The Collapse Is Going To Accelerate Dramatically   Eric Sprott Cautions Investors To Fear The Financial System   …


Odds ‘n Sods:

Seniors Arm Themselves In Record Numbers    o o o Reader H.L. alerted us to the latest from Nanny State Britannia: Animal rights group calls for Shooting Times and The Field to be classed alongside porn. Meanwhile, in Nanny State Nebraska: Grand Island Deaf Preschooler Asked to Change the Sign for His Name in School. (Thanks to Mike Williamson for the latter link.)    o o o G.G. sent this video link:Wal-Mart Status 48 Hours Pre-Hurricane    o o o I had to chuckle when I saw the Bourne Legacy Shoulder Tote Bag is now a “featured item” on eBay. …


Jim’s Quote of the Day:

"It is alleged by men of loose principles, or defective views of the subject, that religion and morality are not necessary or important qualifications for political stations. But the Scriptures teach a different doctrine. They direct that rulers should be men who rule in the fear of God, able men, such as fear God, men of truth, hating covetousness…" – Noah Webster. Value of the Bible, 1834, #302


Note from JWR:

Today we present another entry for Round 42 of the SurvivalBlog non-fiction writing contest. The prizes for this round include: First Prize: A.) A gift certificate worth $1,000, courtesy of Spec Ops Brand, B.) A course certificate from onPoint Tactical. This certificate will be for the prize winner’s choice of three-day civilian courses. (Excluding those restricted for military or government teams.) Three day onPoint courses normally cost $795, and C.) Two cases of Mountain House freeze dried assorted entrees in #10 cans, courtesy of Ready Made Resources. (A $350 value.) D.) a $300 gift certificate from CJL Enterprize, for any …


Lentils: The Super Food of the Prepper, by Brad H.

This article is about a food that I have become familiar with just recently.  The nutritionist at my chiropractor’s office has me on a detoxification program.  One of the things I am “allowed” to eat during this detox is a portion of lentils each day.  I had never had lentils before this detox, but became a fan rather quickly.  The more I looked into the details of this small but mighty food, the more impressed I became that it would be a great addition to my emergency stockpile.  The lentil is a cousin of the bean, and both are in …


Letter Re: Personal Debt Implications of an Economic Collapse

Jim, Just a pondering I hoped you might be able to give me some insight on, I’m either to young or didn’t know it because we were too poor to notice, but I’ve never experienced a significant economic decline in my life.  My wife and I are both doctors and have borrowed heavily to set ourselves in a great place.  Right now we have no difficulty making the bill payments but should the banking/finance system collapse, will we still have to pay the bills; how do we pay the bills; and/or is there any hedge to anticipate how we’ll make …


Letter Re: Advice on Refinancing

Dear James, I’d like your advice. We live in a house on five rural acres in Wisconsin. It’s both our year-round house and a sorta retreat. We now have the chance to refinance our mortgage at a lower interest rate. (Just 3.88%, as oppose to the 5.2% on our existing mortgage.) Our outstanding balance is about $210K. Should we re-fi, or stand pat? Any special considerations, given the perilous economic times, these days? Thanks in advance for your advice. – Hal K. JWR Replies: Yes, this might be an advantageous time to re-finance. A 3.88% rate is excellent. Just beware …


News From The American Redoubt:

A recent article that mentions the American Redoubt movement: Secession: Who WILL Be First?    o o o Dawn Wells (of Gilligan’s Island fame), now semi-retired in Driggs, Idaho, shows how to peel potatoes, Idaho style.    o o o Were your cows really bred? A lab in Moscow, Idaho can let you know: Biotracking    o o o I just discovered that more than a year ago, Ken at ModernSurvivalBlog spent some time researching and creating a quite useful graphic: Northwest Survival Retreat Ideal Population Map


Economics and Investing:

Reader Rex S. suggested: Why You Always Want Physical Everything Sue C. sent: Republicans tease with gold standard, but idea seen full of bugs. [JWR’s Comment: The biggest “bug”–and the statists’ real objection to gold–is that a gold standard wouldn’t allow the government to spend beyond its means and create money out of thin air. G.G. flagged this: When a 401(k) Is Locked in the Freezer One way of looking at the current monetary paradigm: The Rot Runs Deep 1: The Federal Reserve Is a Parasitic Wealth Transfer Machine Items from The Economatrix: Nearly 1 In 5 Americans Have No …


Odds ‘n Sods:

Retreat Security: The Urban Speedball For Preppers. JWR’s Comments: For anything other than very short term caching, it is crucial that water and ammunition be stored in separate waterproof containers. If stored together, all it would take is one leaking bottle (such as one ruptured by freezing or one with a pinhole from rough handling) to destroy the stored ammunition. One .30 Caliber ammo can with bandoleers of ammo paired with one “Tall .50” filled can with water containers would be about the right ratio, for defending against anything short of a human wave attack. They can be attached to …


Jim’s Quote of the Day:

"The religious atmosphere of the country was the first thing that struck me upon my arrival in the U.S. In France, I had seen the spirits of religion and freedom almost always marching in opposite directions, in America, I found them intimately linked together and joined and reigned over the same land…" – Alexis de Tocqueville, Democracy in America


Notes from JWR:

By way of Tom Gresham of Gun Talk Radio we heard that Mark Craighead, founder of Crossbreed Holsters, just passed away. It is reported that he was 43 and died of a heart attack. He was a Christian and ran a Christian company (hence the company name and logo.) It is very sad to hear of this fine Christian gentleman passing. This serves as a reminder that life can indeed be much shorter than we anticipate. Get right with God, today! — On August 27, 1883 an explosive volcanic eruption beneath the island of Krakatoa obliterated most of the island …


Mike Williamson’s Book Review: The Book of Blacksmithing

The Book of Blacksmithing (Setting Up Shop, Essential Skills, and Easy Projects to Get You Started), by Michael Cardiff. ISBN-13: 978-1610045773 I’ve known Mike Cardiff for a couple of decades, and can vouch for his competencies as a smith.  He moves surely, wastes no effort, and turns out functional tools, blades and accoutrements in short order.  I helped him find a publisher for this work, and am very glad to see it in print.   I’m quite impressed by the outcome.  Mike’s writing style is simple, clear and straightforward, and the illustrations by his brother are likewise very easy to …


A T.M. in Arkansas Book Review: 7 Deadly Scenarios

7 Deadly Scenarios: A Military Futurist Explores War in the 21st Century by Andres F. Krepinevich Bantam Dell, New York, 2009. 334 pages including a thorough index. ISBN 978-0-553-80539-0   The author of this book is the president of the Center for Strategic and Budgetary Assessments, and a former US Army officer with a Ph.D. from Harvard University. In this book, he asks the hard questions most people choose to ignore. Being prepared is an ongoing task based on anticipation of something bad occurring. Planning for those occurrences is best done by utilizing scenarios to figure out your response, and …