tag:blogger.com,1999:blog-4429758274949022857.post3493427324435858740..comments2024-02-16T03:12:28.123-06:00Comments on Bacon and Eggs : Cut, Cap and BalanceAnonymoushttp://www.blogger.com/profile/01666836930255009486noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-4429758274949022857.post-60361955942569341352011-07-28T08:05:00.647-06:002011-07-28T08:05:00.647-06:00Mongo-
Rounding works both ways. After 5 or 10 pu...Mongo-<br /><br />Rounding works both ways. After 5 or 10 purchases you would be statistically even.<br /><br />Are you already aghast that they are rounding your purchase total RIGHT NOW? They are. You buy gas that is priced with dollars, cents, and mils. Where is your mil coin? They round it off.<br /><br />Or if you live in Illinois and pay 6.25% sales tax. A purchase of $5.50 adds 34.375 cents sales tax. They are nice enough to drop the .375 cents and let you pay just 34 cents instead. Rounding. However, if you purchase something for $5.70, you owe them 35.625 cents in sales tax, and *sure enough* they round it up and you pay 36 cents. Where is the justice?<br /><br />It's right there in the math.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-77534582452429319932011-07-22T18:33:30.304-06:002011-07-22T18:33:30.304-06:00Obama is increasing the debt by $1.6 trillion per ...Obama is increasing the debt by $1.6 trillion per year, three times as fast as Bush. <br /><br />Actually Bush never even hit 500 billion in a single year.....most his years were less than 400 billion....no thanks to 9/11....<br /><br />as far as removing a penny from circulation...100 of those things make a buck, why would you give anyone the thought that rounding UP (cause they wont round down) is OK for sales? <br /><br />And as far as a balanced budget, and house smoke and mirrors......yeah the budget is far from being able to be balanced, but at least some of those "riding" the teas party wave....have ideas...but YOUR President Hussein and his Media make any real cuts impossible.....Pray for 01/20/2013, and beg for it to not be Obama bin Biden.........<br /><br />SciFi You should post a blog on the constitutional violation in Arkansas.....a city council trying to take away the first amendment right of the town.....Mongohttps://www.blogger.com/profile/10414594819984315280noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-16015277661182663332011-07-19T16:01:02.348-06:002011-07-19T16:01:02.348-06:00Thank you 2 Tramps and thanks so much for stopping...Thank you 2 Tramps and thanks so much for stopping by today.Anonymoushttps://www.blogger.com/profile/01666836930255009486noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-85836831605286424602011-07-19T15:39:32.455-06:002011-07-19T15:39:32.455-06:00Very good insight and such truth... We are thinki...Very good insight and such truth... We are thinking about rebuilding the motor in our 1989 Toyota truck - it has over 350,000 miles on it since we bought it new. Way cheaper to do that than buy another. It isn't about how it looks but only if we can get where we need to go...2 Trampshttps://www.blogger.com/profile/12721390235821161265noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-50739191055043886332011-07-19T07:32:47.963-06:002011-07-19T07:32:47.963-06:00Red Woman, All any of us can do is the best we can...Red Woman, All any of us can do is the best we can. We can't afford not to.Anonymoushttps://www.blogger.com/profile/01666836930255009486noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-19156684363023284652011-07-18T22:03:44.427-06:002011-07-18T22:03:44.427-06:00Great post. I wish we had gotten started a lot so...Great post. I wish we had gotten started a lot sooner than we did. We are no where near ready for the mess that's coming. We'll just have to do the best we can.Red Womanhttps://www.blogger.com/profile/13618348708651144199noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-61034440742678130312011-07-18T21:53:31.298-06:002011-07-18T21:53:31.298-06:00OMG China You ROCK!!OMG China You ROCK!!Anonymoushttps://www.blogger.com/profile/01666836930255009486noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-22646714299416494402011-07-18T18:46:37.387-06:002011-07-18T18:46:37.387-06:00Oh you silly Citizens it is not that simple.We mus...Oh you silly Citizens it is not that simple.We must set up panels to study this.We will need to raise your taxes to pay for these panels.It seems we also need to borrow several trillion from the Chinese to run on in the mean time.We are bringing in the IMF,UN,World Bank,NATO,Council on Foreign Relations,U.S Treasury officials,Members of the Banking community,Wall Street officials,and the UAW.We have informed Janet N. of your unAmerikan views on spending.<br /><br />Yours truly.<br /><br />Ben Bernanke<br /><br /><br />Or maybe <br /><br />China<br />IIIchinasyndromehttps://www.blogger.com/profile/04085960000175006256noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-71533174146690439652011-07-18T17:13:46.064-06:002011-07-18T17:13:46.064-06:00OK Gentlemen, I'm sure we can agree to disagre...OK Gentlemen, I'm sure we can agree to disagree here! Thank you both for being courteous. I appreciate it and truly see what you are both trying to say.<br /><br />IanH,Congrats on being debt free! What a wonderful feeling it is. And I just want to say thank you for helping others to try and do the same.<br /><br />Dannie,it is always good to hear that others are teaching their kids the value of a dollar. And I agree that we should be held responsible for teaching the younger generations to be responsible in this crazy "credit-laced" world.Anonymoushttps://www.blogger.com/profile/01666836930255009486noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-20699009751762121882011-07-18T17:12:27.880-06:002011-07-18T17:12:27.880-06:00Sorry, JCC, I was not jumping to any conclusion, j...Sorry, JCC, I was not jumping to any conclusion, just answering statements. It is helpful to be exact in your details. <br /><br />The Mint does not sell the coin to the Federal Reserve Bank. The Federal Reserve Bank LOANS (with interest) the Department of the Treasury the right to coin that penny in exchange for Treasury Bonds in equal value to the amount of money to be created, plus interest. <br /><br />Without that "loan" from the Federal Reserve Bank, and according to the Federal Reserve Act of 1913, the United States Government does not have the right, power, or authority to coin or print currency. They must borrow that currency from the Federal Reserve Bank, again I cannot stress this enough, at interest, and the Fed gives the OK to the Treasury Department to make the money.<br /><br />So no matter WHAT denomination of coin we are talking about, or the basic cost it takes to make one, it is ALL too expensive because of the interest . Simple fact if the Federal Reserve Bank - which is about as Federal as Federal Express - loans our Government 1.00 FRN plus 10% interest (which is .10 per year compound) the Federal Government canb only make the 1.00 Federal Reserve Note. Where does the Government get the interest? They don't. Hence our mounting deficit. <br /><br />Our Congress lost their control over our currency almost 98 years ago. <br /><br /><br />The "debt ceiling talks" are an absolute joke. The House schedules a charade vote simply to get themselves "on the record" as trying to restrain spending. Of course, it would never, ever get past the Senate and/or the Regime. But that doesn't matter. What does matter is giving "political cover" to the worthless, first-term republocrats who rode into office last year on a Tea Party wave. In the end, President O'bottom will raise the debt ceiling by Executive Order. What? You don't think he can do that? Hmmm...Google "War Powers Act" and get back to me. The Regime doesn't care about the Rule of Law or The Constitution. Never forget that, with socialists, the ends always justify the means. The real question you need to answer is: "When the debt ceiling is raised by $2T or so, from where will the federal government get their $2T"? Answer that and you'll have your answer as to why the precious metals are soaring to new highs.<br /><br />Sarcasm noted and returned. Please feel free to check Federal Reserve Act in your favorite search engine, then look up Keynesian Economics.<br /><br />Got preps?<br />Prepare for the worst, pray for the best.Don Pontioushttps://www.blogger.com/profile/02452933558086907142noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-32398750801347315022011-07-18T15:53:47.199-06:002011-07-18T15:53:47.199-06:00Falcon, please don't put words into my mouth. ...Falcon, please don't put words into my mouth. :D The switch in mid-1982 to copper plated zinc coins was an unimportant part of my anecdote. The fact remains that--without regard to the (lack of) logic involved--our government's mint is spending 2 cents to make a coin they turn around and sell for 1 cent to the federal reserve. They make an overall coinage profit because it only costs them 8 or 9 cents to make a quarter, but they could make much more by dropping the penny completely. Thanks a bunch for sending me to Google Hyperinflation. You jump to conclusions without even trying to see the point of my comment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-46662111950187168802011-07-18T15:37:51.813-06:002011-07-18T15:37:51.813-06:00I tried to teach my kids that they were always ric...I tried to teach my kids that they were always rich if they lived within their means. If they could afford beanie weenies then that's what they would eat, not steak. The girls knew I wouldn't buy anything unless it had been marked down 3x-and it tickles me that they still follow that example. My parents used "lay away" -plastic didn't exist. I really do think that basic economic survival needs to be taught-how to keep a checkbook, how to budget etc.how to "save". As a parent and grandparent I feel it is my responsibility to teach these basics and not "give" my kids everything.danniehttps://www.blogger.com/profile/09927115644696786196noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-61677183033181566282011-07-18T14:13:22.601-06:002011-07-18T14:13:22.601-06:00Last winter I was fortunate to be able to teach a ...Last winter I was fortunate to be able to teach a course on this subject. The people in the course were very surprised to learn just how badly off our country is due to the debt load. Great post, and it is really encouraging to see a few more getting their finances in order.<br />Totally debt free in Canada, and working hard to stay that way!IanHhttps://www.blogger.com/profile/15874490886311041312noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-44369743984422059862011-07-18T12:57:36.273-06:002011-07-18T12:57:36.273-06:00Jimmycrackedcorn said:
In WWII, was the country ju...Jimmycrackedcorn said:<br />In WWII, was the country just smarter about money, or did we not yet have the line of credit we now have? <br />~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<br /><br />No, the United States was on the Gold standard, and we had fewer physical dollars in circulation. Our currency was backed in fully by gold the American Government actually held in Fort Knox. We had wealth. The stock market crash of 1929 was a manipulated event designed to concentrate the wealth of a few and strip it from the masses. It worked.<br /><br />~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<br />Jimmycrackedcorn said:<br />We were asked to pull together as a country to pay for as much of the expense as we could, so there would be less borrowing. In 1943, the Lincoln Cent coin was made of steel because the copper was needed for the war effort and to make coins of copper would have cost more than 1 cent. We did the smart thing and used a different metal that year. Now, we have been stamping out billions of cent coins that cost us at least 2 cents each to make for several years. Common sense out the window, no end in sight. <br />~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<br /><br />You should do a little more research. Our pennies are not made from copper and have not been since 1983. If you hold any pennies from prior to 1983, their metal value is .05 cents. Pennies minted after 1983 are copper washed zinc slugs. Don't believe me? Get a good set of metal shears and snip a 1984 or later penny in half. It is a very thin wash of copper covering a nice solid zinc core. <br />The reason it costs .02 to make a penny? Inflation. There is more physical currency in circulation now than there has ever been in the history of America. The more there is of something, the less it is worth. Check the term Hyperinflation on your favorite search engine. <br /><br />Great post SciFiChick! Keep waking up the sheeple! Long live the Republic!Don Pontioushttps://www.blogger.com/profile/02452933558086907142noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-67562829222970411102011-07-18T12:49:41.871-06:002011-07-18T12:49:41.871-06:00Jimmy, you pose an interesting question. I persona...Jimmy, you pose an interesting question. I personally think that we were just alot smarter with money then than most people are now. The value of common sense has indeed been lost on most folks these days.<br /><br />Well Rose, Obama DID promise hope and change. Unfortunately, the change that has been made has stripped us of many of our rights and the hope that I have now is to see him out of office before he destroys what is left of the USA.<br />Keeping up with the Jones' has certainly brought more debt to families. I guess I just never cared for the Jones all that much! LOL ;-)Anonymoushttps://www.blogger.com/profile/01666836930255009486noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-8084668558833701362011-07-18T12:20:33.702-06:002011-07-18T12:20:33.702-06:00YOu bring up some great points and insights. I do ...YOu bring up some great points and insights. I do think the government is able to cut, cap, and balance if they really wanted to. I believe that this economy we are in was manufactured intentionally by our government. In the less than three years Obama has been in office, the debt has increased from $10.6 trillion to $14.2 trillion, a $3.6 trillion increase in about 27 months. In other words, Obama is increasing the debt by $1.6 trillion per year, three times as fast as Bush. Obama said he wanted to radically transform America- into a Banana Republic.<br /><br />My parents built their house in the 50's. A five year loan of interest only payments,and a payoff at the end. Credit cards were paid off monthly, and big ticket items were purchased from savings. Shopping for clothes was a treat. Very specific, about twice a year. Even though my family was financially secure, we we frugal, ate meals at home and spent sparingly.<br /><br />I have to say in the early years of my marriage, we got caught up in keeping up with the Jones'. No more. Our life has changed considerably and for the better. I blogged the other day about sports, and now I need to write a follow up after my husband shared with me what coworkers have experienced with sports until you drop. <br /><br />You are right about a change in mind set. And it may mean a diversion of friends, lifestyle, priorities, and learning new things. Simpler is betterRosehttps://www.blogger.com/profile/16924988248364848607noreply@blogger.comtag:blogger.com,1999:blog-4429758274949022857.post-6590887322043363102011-07-18T11:19:37.394-06:002011-07-18T11:19:37.394-06:00In WWII, was the country just smarter about money,...In WWII, was the country just smarter about money, or did we not yet have the line of credit we now have? We were asked to pull together as a country to pay for as much of the expense as we could, so there would be less borrowing. In 1943, the Lincoln Cent coin was made of steel because the copper was needed for the war effort and to make coins of copper would have cost more than 1 cent. We did the smart thing and used a different metal that year. Now, we have been stamping out billions of cent coins that cost us at least 2 cents each to make for several years. Common sense out the window, no end in sight.Anonymousnoreply@blogger.com