Friday, October 7, 2016
Waiting to see what happens is not the same as having a plan.
Do The Math: ATM fees are now $4.50 a transaction and climbing. If you are taking out $100, that's the same as paying them $4.50 to hold on your money for a while. Negative interest writ large. Why would you pay that? And don't even think about taking out just $20 to pay the babysitter – that's a 22.5% fee.
Asked & Answered: Was Yahoo’s mass wiretap legal? Legal? My, what a quaint concept.
Perspective: According to the UN there are 68.5 million refugees in the world today. Jordan has taken in more than 2.7 million people, Turkey, over 2.5 million; Pakistan, 1.6 million; and Lebanon, more than 1.5 million. More than 10,000 refugees were rescued from the Mediterranean in the last two days. Last year the US took in about 85,000 refugees, but only 18,000 from Asia/Me (12.5 thousand from Syria) and 22,000 from Africa, mostly the DRC.
The Gig Economy: Nearly 55 million Americans are, in one way or another, freelancers – self employed, contract, and so on – with no benefits. That's nearly 35% of the workforce.
Wonderment: What if super-low, zero and negative interest rates are not some sort of sick joke and turn out to be an accurate predictor? What if there is little or no growth in the economy for the next decade or two? Did you plan accordingly? The Big Money boys haven't, and come the day they have to mark all those 'investments' to actual market values will certainly be one for the record books. It would (will?) be a massive economic disaster. And certainly not the future they – and we - have prepared for.
Days Of Whine & Ruses: Are the members of the Fed simply fools who think they know what they're doing, or charlatans who know they don't?
A Parting Shot:
Posted by Charles Kingsley Michaelson, III at 7:22 AM