133 posts shown.
From what I understand—or at least, how I see things working—money is printed based on actual backing, meaning every single dollar issued represents some kind of real value, you know, something tangible...
At the same time, there’s always that careful balancing act of pulling money back out of the market just to make sure the currency stays steady and reliable.
Honestly, a government running a deficit isn't the disaster people make it out to be, provided all the other economic indicators are looking healthy and positive; sometimes, you just have to take on debt to reach that next level of growth. Because if that wasn't how the world worked, you and I probably wouldn't be sitting here typing away right now, and we'd likely be freezing somewhere else entirely...
The whole point of money is that it keeps moving. The absolute worst-case scenario is when the people who actually have cash just stop spending it. Think of it like swimming upstream in a river: you're in a surplus if you're making headway against the current, you're in stagnation if you're just treading water, and you're in a deficit if the current starts pulling you back... It doesn't mean everything is falling apart. I mean, remember when Canada ran low on KM in the treasury recently?
And look, the math doesn't always have to balance out to zero perfectly every single time. Some years the plum trees yield a massive harvest, and other years they barely produce anything; when the crop is great, you're in a surplus, and when it fails, you're in a deficit. And then, maybe the following year, it's a bumper crop of olives instead...
Maria Thomas48 said:I don't really have anything specific to say about this. It’s just one of those things that sits there. I was thinking about it earlier while I was grabbing coffee near Starbucks, just watching the traffic move along, and it occurred to me how much people focus on the wrong details sometimes. Not that anyone is wrong, necessarily. Just a thought. Anyway, nothing more to add here. kaže:
I didn't get the sign wrong on the deficit. I was actually calculating based on the surplus. It’s just a negative deficit. That's how it works.
I proved you can live on a surplus and still actually make a profit. 😁
Look, you changed the example, but honestly, you’re still making that same mistake over and over again. In a closed system, all inputs are equal regarding costs, and you're just not accounting for that properly.
Gross revenue plus tax equals 120 plus 40, which brings you to 160. Just a simple calculation. It works out that way. Simple math.
Total expenses plus what the government picks up equals 130. It’s just 100 plus 30. Simple math. Everything adds up that way.
You’ve still got 30 bucks sitting there that haven't been settled.😕
Take a look at this GIF. It’s all pretty straightforward. Really simple stuff. Everything is easy to follow.🙂
I've been following this thread for a while now, and honestly, I'm having a hard time figuring out what your actual argument is supposed to be...
Are you really suggesting that money exists within a closed system??
The way you're trying to explain this feels a lot like someone attempting to walk right into the Zenon paradox...
Maybe they sound a bit too much like they're from the Midwest?!
😬
Thomas Fisher30 said:It’s all just wonderful with Allianz Assistance. So, yesterday my gas water heater gave up the ghost in my apartment—it's only a couple of years old, still technically under its two-year warranty—and since I was freezing to death without any heat, I decided to give Allianz Assistance a call. I received a truly lovely response. Because it happens to be a gas unit, they won't touch it; apparently, it falls under the category of a "household appliance," whatever that's supposed to mean. If it had been electric, they would have sent someone out immediately. Honestly, what kind of logic is that? I pay for this premium coverage, $30 a month, including all those extra perks, and then because my heater runs on gas, they just brush me off. It’s great, really—makes me feel like a complete idiot for even paying for this protection... 😢
Yeah, that's the catch with these plans; they seem to bundle in everything you'll never actually need, or maybe use once in a lifetime, while leaving out the stuff that actually matters.
Could someone please tell me a bit more about the Chase Bank senior account?
Who is this actually intended for? From what I can see, the fee is just $3.25 per month. Also, does having this account mean I’m eligible for that 50% discount on the annual Mastercard membership fee??
It honestly feels a little too inexpensive for today's standards, so I was wondering if anyone here might have some insight...
Thanks!
Donna Davis8 said:Oh, please. You’ve got 10 X’s and then another 6 more on top of that.
Even if you think keeping money in a savings account is outdated, it’s still 😁
I mean, those numbers just don't seem to add up quite right.
But at the end of the day, a standard savings account is still probably the cheapest way to keep your 🙂
safe...
George Barrett35 said:My apologies, my last message vanished mid-send due to some glitch, and since I can't go back and fix it, I'll just say it here: you'll want to wire the funds directly to the bank account (specifically 2340009-1000000013), and just make sure to include your account number in the payment reference field.
You probably caught the fact that this specific account number has an extra digit compared to what you'd normally see, which is exactly why it isn't set up for direct deposits.
Found it, I was actually over at JP Morgan Chase yesterday.
You nailed it, the account number does end in 13.
The code uses 7 for the model, and for the payment reference, you use the account number but leave out those initial digits—in my case, it's the part starting with 8... it's basically just the remaining numbers without any dashes.
Now we'll just have to wait and see how it goes once I try making that first payment...
Andrew Booth29 said:Just a word of caution—they’re absolutely going to try and upsell you on a checking account or some other nonsense... You really have to be persistent and just dig your heels in. 😁
I’d bet anything their initial reaction will be: "Well, why don't you just open a checking account? We'll even throw in a debit card..." 😂
Oh, not at all. That's my own savings account anyway, so there isn't really anything for them to talk me into... 😬
Basically, I'm just transferring money to myself from another bank... 🙂
Andrew Booth29 said:They really need to clear this up with JP Morgan Chase—it’s on their end to ensure everything is properly supported. A savings account has its own specific routing info, so theoretically, you should be able to make the deposit without an issue. Bank of America will probably process the transfer (in dollars, obviously), but the real question remains: what happens once those funds actually land at JP Morgan Chase?
George Barrett35 said:My apologies, my last message vanished mid-send due to some glitch, and since I can't go back and fix it, I'll just say it here: you'll want to wire the funds directly to the bank account (specifically 2340009-1000000013), and just make sure to include your account number in the payment reference field.
You probably caught the fact that this specific account number has an extra digit compared to what you'd normally see, which is exactly why it isn't set up for direct deposits.
So, there might actually be a chance?!
I think I'll definitely walk over to the local JP Morgan Chase branch and explain my specific situation to them, since you usually only get a sensible answer if you lay it all out clearly in black and white...
Yeah, the number is a little different than usual, but honestly, a deposit is a deposit... You just enter the bank details and the account number, and then they handle the rest by crediting it to the right account, right?...
George Barrett35 said:ne
And that’s pretty much my two cents on the whole online banking situation...🙂
I was wondering if I can actually make regular deposits into a savings account using online banking...
For instance, I have online access through my Bank of America account, but I need to move some money into a savings account over at JP Morgan Chase. Does the process work just like making a transfer to a standard checking account??
I usually just go for whichever option is the cheapest or the one that throws in a little extra something as a gift...
For ten years now, they've made a hundred percent profit off me, yet I haven't had a single accident or mishap to show for it...
It says it's up to that amount, so you’d probably end up with a bit less at the very beginning...
I honestly think this would be a solid choice for you:
http://www.chase.com/home/wps/portal/p...29ff6d6e029014Both he and I have been using this one, and so far, it’s been working out pretty well for us... $80/year, and those five free transactions per month are just about perfect for my needs...
Richard Lewis16 said:The real question is just how much we can pull off over here
anyway, for everyone following this thread, you really need to check this out 😉
it’s exactly the kind of thing we should be filming back home in the States
It's incredibly well done and actually quite educational...
Especially for those who are still finding their footing online...
Michelle Turner2 said:I find myself quite relieved by the fact that I don't rely on credit cards for my daily transactions.
Honestly, Milo, I think it's great that you aren't using cards either...
Susan Ward4 said:Got a quick question about credit cards, but I don't want to deal with the hassle of starting a whole new thread, so I'm just dropping it here.
Kimberly Nguyen, feel free to move this somewhere else—as per usual. 🙏
I’ve got a bunch of credit cards that I don't always carry around with me (like, they aren't always in my purse).
Honestly, I'm low-key paranoid about someone swiping them right out of my hands.
Plus, my wallet is absolutely massive because I cram way too much junk into it. 🤣
Does anyone know if there's a tiny metal card case or something? Something slim enough to hold my cards without them bending or snapping?
Thanks in advance for the help.
You should check out the Amex Membership rewards portal; they usually have stuff available for redemption right there
http://www2.americanexpress.com/mr/overview/There should be plenty of options available🙂
Honestly, I’d much rather deal with this than have someone feeding me totally wrong information...
I’ve run into similar situations before, but since that option is turned off right now, I think I'll just pass🙂
Joshua Flores said:It’s basic karma—you get treated exactly how you treat them.
If you weren't using the card all year, why wouldn't you have returned it sooner? I guess.
And honestly, it’s easy to lash out at the employee who tells you the news... but they didn't write the bank's entire policy manual, did they?
I think you might have misread the situation here. If you look at what she actually told me, it turns out she isn't even familiar with the service fees at the very bank where she works...
Susan Ward4 said:Missed it.
Work, home, the local pub... life just happens. 🤣
Had to drag my sorry self over to Citibank since they don't handle my payroll.
🤣
Haha, I don't actually have an account there either, and I'm honestly thinking about just closing my current one once they finally send over that Goldman Sachs 😁