Author Topic: Overheard on Facebook  (Read 2013211 times)

LeRainDrop

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Re: Overheard on Facebook
« Reply #5150 on: August 23, 2016, 08:59:38 PM »
Kroger's has a "Free Friday Download" on their website every Friday.

Yeah, I used to do Kroger's Free Friday Download more regularly, but in recent months, its mostly been for trashy processed food or candy.  Even "free" doesn't make it worth it!

geekette

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Re: Overheard on Facebook
« Reply #5151 on: August 23, 2016, 09:04:11 PM »
Yes, but one time the Friday Freebie was for a Moonstruck chocolate bar.  :: drools ::



bebegirl

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Re: Overheard on Facebook
« Reply #5152 on: August 24, 2016, 05:29:49 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"


horsepoor

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Re: Overheard on Facebook
« Reply #5153 on: August 24, 2016, 09:59:15 PM »
Instant Pot FTW!

Plus, you can cook both potatoes and hard cook eggs at the same time for potato salad. I've only done it once so far, but the eggs peeled very easily.
+1 for instant pot. I make a chicken dinner in the bottom and steam eggs on top. Perfect Everytime!

Steamed Jumbo eggs in the IP.  Straight out of the fridge, steam setting for 6 minutes, released the steam and let them sit for another minute or two, then into cool ish tap water for a few minutes.  Nearly perfect hard boil.  Will try 4-5 minutes next, as the yolks were just a touch to the chalky side, with the outer yolk turning color, but the whites were perfect, and they nearly peeled themselves.

MrMoogle

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Re: Overheard on Facebook
« Reply #5154 on: August 25, 2016, 08:13:16 AM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.

MgoSam

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Re: Overheard on Facebook
« Reply #5155 on: August 25, 2016, 09:06:45 AM »
Instant Pot FTW!

Plus, you can cook both potatoes and hard cook eggs at the same time for potato salad. I've only done it once so far, but the eggs peeled very easily.
+1 for instant pot. I make a chicken dinner in the bottom and steam eggs on top. Perfect Everytime!

Steamed Jumbo eggs in the IP.  Straight out of the fridge, steam setting for 6 minutes, released the steam and let them sit for another minute or two, then into cool ish tap water for a few minutes.  Nearly perfect hard boil.  Will try 4-5 minutes next, as the yolks were just a touch to the chalky side, with the outer yolk turning color, but the whites were perfect, and they nearly peeled themselves.

I just got one and am going to try make butter chicken with it tonight.

Inaya

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Re: Overheard on Facebook
« Reply #5156 on: August 25, 2016, 09:13:56 AM »
This one's anti-antimustachian, but there's no anti-anti thread for FB (right?), so it goes here. Meme-style photo with text that says, "Don't buy me everything you wish you could have had growing up. Teach me everything you wish you knew growing up." Reminds me of the "how not to turn your kids into economic outpatients" chapter of Millionaire Next Door.
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runningthroughFIRE

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Re: Overheard on Facebook
« Reply #5157 on: August 25, 2016, 09:58:48 AM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."

MrMoogle

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Re: Overheard on Facebook
« Reply #5158 on: August 25, 2016, 10:12:33 AM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

LeRainDrop

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Re: Overheard on Facebook
« Reply #5159 on: August 25, 2016, 12:08:42 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

MrMoogle

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Re: Overheard on Facebook
« Reply #5160 on: August 25, 2016, 01:09:37 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Maybe Fifth Harmony are closet mustachians.

Kitsune

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Re: Overheard on Facebook
« Reply #5161 on: August 25, 2016, 01:20:07 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Well, days when my husband and I both work from home while our children are at daycare have more *ahem* productive lunches, for sure... ;)

Chris22

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Re: Overheard on Facebook
« Reply #5162 on: August 25, 2016, 01:51:04 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Well, days when my husband and I both work from home while our children are at daycare have more *ahem* productive lunches, for sure... ;)

On the clock lovin' is uniquely satisfying, no?
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

Kitsune

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Re: Overheard on Facebook
« Reply #5163 on: August 25, 2016, 02:06:53 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Well, days when my husband and I both work from home while our children are at daycare have more *ahem* productive lunches, for sure... ;)

On the clock lovin' is uniquely satisfying, no?

The kid is in daycare. WE CAN BE AS LOUD AS WE WANT.

And then the rest of the afternoon is so much nicer. :)

MrRealEstate

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Re: Overheard on Facebook
« Reply #5164 on: August 27, 2016, 12:45:29 AM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Maybe Fifth Harmony are closet mustachians.

Pretty sure the first quote is referring to Rhianna's song and not fifth harmony's

Playing with Fire UK

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Re: Overheard on Facebook
« Reply #5165 on: August 27, 2016, 12:54:09 AM »
..."Don't buy me everything you wish you could have had growing up. Teach me everything you wish you knew growing up." ...

Love this. Thanks for sharing.

LeRainDrop

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Re: Overheard on Facebook
« Reply #5166 on: August 27, 2016, 01:48:49 PM »
I love fashion so follow some businesses on fb.

Just recently saw this posting:

"Work hard so you can shop harder"

354 shares

One girl wrote something like "that is why I work, work, work, work"
This is part of a pop song.
Which is weird, because the full quote (and the song) is about the opposite:
"You don't gotta go to work, work, work, work [continues ad nauseam]..."
IIRC she's trying to get him to quit his job so they can have more sex.  I'm not sure that's the responsible thing to do...

I dunno -- the girl's advocating that "we can work from home," so really I think she's just recognizing that working from home is more efficient, workers are more productive, etc. ;-)

Maybe Fifth Harmony are closet mustachians.

Pretty sure the first quote is referring to Rhianna's song and not fifth harmony's

No, it's Fifth Harmony's.  Didn't even know about Rihanna's!

Sylly

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Re: Overheard on Facebook
« Reply #5167 on: August 28, 2016, 01:24:29 PM »
There's nothing wrong with the program itself - you have to eat, so why not get points if you are shopping there anyways.  Around here we have Safeway, and the rewards work out to basically a 1% rebate.  So to get a free tank of gas (say, $40) you'd have to spend $4k.  Which could be a lot, depending on how long you save the points.  For us, they expire after a month so spending $4k in one month is excessive.

Same here. I can't seem to accumulate the Safeway fuel points fast enough. Even if I could, Costco gas, is still cheaper, even during 5% gas cashback months (especially now that the Costco Visa is always 4%).

dragoncar

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Re: Overheard on Facebook
« Reply #5168 on: August 28, 2016, 09:57:09 PM »
There's nothing wrong with the program itself - you have to eat, so why not get points if you are shopping there anyways.  Around here we have Safeway, and the rewards work out to basically a 1% rebate.  So to get a free tank of gas (say, $40) you'd have to spend $4k.  Which could be a lot, depending on how long you save the points.  For us, they expire after a month so spending $4k in one month is excessive.

Same here. I can't seem to accumulate the Safeway fuel points fast enough. Even if I could, Costco gas, is still cheaper, even during 5% gas cashback months (especially now that the Costco Visa is always 4%).

Out Safeway has a cash price that's a few cents higher than Costco, but it's closer to our house.  So if we have a reward it's the cheapest and otherwise still worth it if we aren't already near Costco.  Although Costco just started taking visa so have to factor the 1% for that (if you have the Costco visa it's like 4% right?  Might get it just for the gas rewards but there's no signup bonus)

Goldielocks

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Re: Overheard on Facebook
« Reply #5169 on: August 28, 2016, 10:57:49 PM »
I realized that if I dropped the mileage per year, saving an extra 1-3% on fuel did not really matter...   

Driving to Costco for groceries (a 20 minute drive) often, and other errands was crazy expensive in terms of gas versus savings.  (minimal savings on bulk generic foods)

UKMustache

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Re: Overheard on Facebook
« Reply #5170 on: August 31, 2016, 12:42:34 AM »
Someone on my facebook just shared a meme with a picture of one of the kardashians.

The text reads "when the direct deposit hits and you party like you didn't just have $3.48 left yesterday"

*facepalm*

zephyr911

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Re: Overheard on Facebook
« Reply #5171 on: September 01, 2016, 08:01:04 AM »
I was also present in person, but since this also went on FB: friends who are actively trying to move to another state just bought their second essentially disposable gazebo for their hot tub in a short period of time. Today, in fact, was the day they wanted to be in their new home (the holdups are primarily financial).
The first canopy was $60 and got blown apart by a storm, so the obvious solution was to drop $200 on a better one that probably still won't survive the summer, let alone the move. I was surprised to be invited to help assemble it while visiting... I never mind helping, especially with such lovely hosts, but it seems a bit counter to their current #1 goal.
Both current and future locations are LCOL and she earns at least $40K from home, so you'd think this would be easy, but the amount of conspicuous consumption and convenience spending at play there is beyond what I could even list here. No, this move cannot happen until they are assured of continuous DINK status. I love 'em and feel bad for 'em. They're super happy, to all appearances, but they could really have their cake and eat it too, if they just dialed things back a little.
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infogoon

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Re: Overheard on Facebook
« Reply #5172 on: September 02, 2016, 11:51:16 AM »
I posted a link to that Marketwatch article from June about how the median American couple has only five thousand dollars saved for retirement. This, of course, devolved into a bunch of somber head nodding about how only rich people can take advantage of retirement saving schemes, because the rich politicians rig the system so that only their peers can benefit. Also, investing in stocks is "too volatile", according to a guy who keeps his IRA in a money market fund and says he'll never be able to retire.

I'm pulling you goddamn horses to water. DRINK!

Making Cookies

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Re: Overheard on Facebook
« Reply #5173 on: September 02, 2016, 02:56:58 PM »
Has our country always been dysfunctional like this or is this something recent?

turketron

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Re: Overheard on Facebook
« Reply #5174 on: September 02, 2016, 03:38:00 PM »
Has our country always been dysfunctional like this or is this something recent?

I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

johnny847

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Re: Overheard on Facebook
« Reply #5175 on: September 02, 2016, 03:43:46 PM »
Has our country always been dysfunctional like this or is this something recent?

I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

Well with respect to saving for retirement, the use of 401k's is a more recent development. Pensions used to be the retirement vehicle of choice. People didn't have to finance their own retirement (at least, not a large chunk of it).

nnls

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Re: Overheard on Facebook
« Reply #5176 on: September 02, 2016, 04:04:17 PM »
My friend shared a meme that said "I love buying things online because when they arrive it's like a present to me, from me" with a comment saying "17 gifts this week!"

And all these people were commenting about how many packages they had delivered this week.

SwordGuy

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Re: Overheard on Facebook
« Reply #5177 on: September 02, 2016, 06:24:53 PM »
Well with respect to saving for retirement, the use of 401k's is a more recent development. Pensions used to be the retirement vehicle of choice. People didn't have to finance their own retirement (at least, not a large chunk of it).

Most people never had a pension.   Only 38% of workers in 1980 were part of a pension PLAN.  (Being part of a plan doesn't mean they ended up getting a pension, either.  They might leave that job before they accumulated enough years to get a pension.)  Now the percentage is around 20%.

Most people financed their own retirement.  They bought savings bonds (still waiting for a few of my parent's bonds to mature before I cash them in).   They bought stocks and bonds.  They bought businesses.  Or they just saved cash.

Or they depended on their children to provide for them.



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Taran Wanderer

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Re: Overheard on Facebook
« Reply #5178 on: September 02, 2016, 06:48:15 PM »
Has our country always been dysfunctional like this or is this something recent?

I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

I think social media is a major factor in personal finances, too.  There is a great leveling in interpersonal interaction and visibility brought about by social media, so people expect there should be a leveling in lifestyle, too. The problem is that the lower and middle income can't afford it. Couple with the increased velocity of life - more action, less time, everybody's so busy - it's a recipe for spending, even if you shouldn't.

johnny847

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Re: Overheard on Facebook
« Reply #5179 on: September 02, 2016, 08:33:57 PM »
Well with respect to saving for retirement, the use of 401k's is a more recent development. Pensions used to be the retirement vehicle of choice. People didn't have to finance their own retirement (at least, not a large chunk of it).

Most people never had a pension.   Only 38% of workers in 1980 were part of a pension PLAN.  (Being part of a plan doesn't mean they ended up getting a pension, either.  They might leave that job before they accumulated enough years to get a pension.)  Now the percentage is around 20%.

Most people financed their own retirement.  They bought savings bonds (still waiting for a few of my parent's bonds to mature before I cash them in).   They bought stocks and bonds.  They bought businesses.  Or they just saved cash.

Or they depended on their children to provide for them.

Where'd you get that data from?

If this source is to be believed, in 1975 55.2% of workers had pensions.

http://www.accounting-degree.org/retirement/

EDIT: Here's a better source
Quote
According to the Bureau of Labor Statistics (BLS) about 22 percent of full-time private industry workers recently got a defined pension benefit.

That compares to 42 percent in 1990.
http://minnesota.cbslocal.com/2012/10/17/good-question-how-many-of-us-still-get-a-pension/

nobodyspecial

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Re: Overheard on Facebook
« Reply #5180 on: September 03, 2016, 05:44:16 AM »
Most people never had a pension.   Only 38% of workers in 1980 were part of a pension PLAN.  (Being part of a plan doesn't mean they ended up getting a pension, either.  They might leave that job before they accumulated enough years to get a pension.)  Now the percentage is around 20%.

Or they depended on their children to provide for them.
Or their husbands. In 1980 most women would be working in jobs without a pension, but most men would have one.
So the 38% really means 80-90% of households  had a man in a full time job with a good pension and a women in a part time / low pay job without one.

Not saying it was better, just you have to be careful when comparing historical data with a single statistic

kayvent

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Re: Overheard on Facebook
« Reply #5181 on: September 03, 2016, 05:49:48 AM »
    Has our country always been dysfunctional like this or is this something recent?

    I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

    Well with respect to saving for retirement, the use of 401k's is a more recent development. Pensions used to be the retirement vehicle of choice. People didn't have to finance their own retirement (at least, not a large chunk of it).

    And in their defence:
    • Until a few generations ago, inflation was incremental, not compounded. So just keeping cash fish gold or other assets around was a feasible plan (We humans in general find it hard to grasp large numbers and exponential growth)
    • Until a few generations ago, one probably worked on a farm or in agriculture. Even if you 'retired', your son was there still working on your farm and provided for you
    • Until a generation ago, it wasn't unexpected that mom & dad would move in with their children when they got old. Now either you send them to a home or assisted living or they live in a senior-friendly building.
    • You died younger and saving for retirement was a useless pursuit because you worked in subsistence farming or a factory. It is a whole different world: saving for zero years of retirement compared to saving for thirty plus years.
    « Last Edit: September 03, 2016, 05:54:15 AM by kayvent »

    ender

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    Re: Overheard on Facebook
    « Reply #5182 on: September 03, 2016, 07:26:33 AM »
      • Until a generation ago, it wasn't unexpected that mom & dad would move in with their children when they got old. Now either you send them to a home or assisted living or they live in a senior-friendly building.
      • You died younger and saving for retirement was a useless pursuit because you worked in subsistence farming or a factory. It is a whole different world: saving for zero years of retirement compared to saving for thirty plus years.

      I think these really are two of the key factors in the problem with why saving was much less important.

      dragoncar

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      Re: Overheard on Facebook
      « Reply #5183 on: September 03, 2016, 09:33:55 PM »
        Has our country always been dysfunctional like this or is this something recent?

        I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

        Well with respect to saving for retirement, the use of 401k's is a more recent development. Pensions used to be the retirement vehicle of choice. People didn't have to finance their own retirement (at least, not a large chunk of it).

        And in their defence:
        • Until a few generations ago, inflation was incremental, not compounded. So just keeping cash fish gold or other assets around was a feasible plan (We humans in general find it hard to grasp large numbers and exponential growth)
        • Until a few generations ago, one probably worked on a farm or in agriculture. Even if you 'retired', your son was there still working on your farm and provided for you
        • Until a generation ago, it wasn't unexpected that mom & dad would move in with their children when they got old. Now either you send them to a home or assisted living or they live in a senior-friendly building.
        • You died younger and saving for retirement was a useless pursuit because you worked in subsistence farming or a factory. It is a whole different world: saving for zero years of retirement compared to saving for thirty plus years.

        What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]

        nobodyspecial

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        Re: Overheard on Facebook
        « Reply #5184 on: September 03, 2016, 09:46:12 PM »
          What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]
          I think he means it was almost negligible.

          It changed because with industrialization people got money to buy things and there were things to buy.
          For centuries the only thing you could buy was land and the people with money already had land and their money was in the form of land.
          There wasn't a lot of cash around in the middle ages.
           

          Pooperman

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          Re: Overheard on Facebook
          « Reply #5185 on: September 04, 2016, 05:48:20 AM »
            What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]
            I think he means it was almost negligible.

            It changed because with industrialization people got money to buy things and there were things to buy.
            For centuries the only thing you could buy was land and the people with money already had land and their money was in the form of land.
            There wasn't a lot of cash around in the middle ages.

            Nearly right. The CPI was pretty constant before centralized monetary policy that started with the Federal Reserve in 1913. It was determined that slight inflation was preferable to inflation brought on by war followed by deflation afterwards as inflation benefits borrowers (historically, this meant helping rural farmers, and it was a big part of the late 1800s Democrat platform). This slight inflationary policy meant that the gold standard was doomed, as happened in 1974.

            So yes, it was only a few generations ago (about 100 years) where inflation was minimal overall.


            Nederstash

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            Re: Overheard on Facebook
            « Reply #5186 on: September 05, 2016, 11:06:40 AM »
            I apologize for the foam in advance. Pensions are still a big thing here in little old Holland but I have to say, it annoys me to no end. Sure, we get a giant match (employer puts in 4x my input, which held from my gross income, so it grows tax-free). On the other hand: it's obligatory. I can't opt-out. I also can't put any extra money in. And all the time, I get news updates that the pension fund's returns are low because of market circumstances and the pay-out is constantly lowered. I don't even want to think about what the fund's managers make... I don't know, I just prefer to manage it myself, but the system's based on solidarity. (Or as I call it: a ponzi-scheme...)

            kayvent

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            Re: Overheard on Facebook
            « Reply #5187 on: September 05, 2016, 04:49:02 PM »
            I apologize for the foam in advance. Pensions are still a big thing here in little old Holland but I have to say, it annoys me to no end. Sure, we get a giant match (employer puts in 4x my input, which held from my gross income, so it grows tax-free). On the other hand: it's obligatory. I can't opt-out. I also can't put any extra money in. And all the time, I get news updates that the pension fund's returns are low because of market circumstances and the pay-out is constantly lowered. I don't even want to think about what the fund's managers make... I don't know, I just prefer to manage it myself, but the system's based on solidarity. (Or as I call it: a ponzi-scheme...)

            In Canada we can choose when we start drawing out the government-managed pension (CPP). (It is wonderfully managed.) The optimal age to start taking it, unless you know you will die young and have no spouse or minor children, is 70. I occasionally look at my paystub and see the CPP deduction.

            I think about how here is money I'm putting in and I'll not see it until I triple my current age. Assuming it will continue to be managed correctly. Assuming some politician doesn't decide in twenty-years to raise the benefit and by the time it reaches me it gets cuts (like the USA may face).

            I think about how that ~100$ is just vanishing off into the aether. I think about how the 500+$ from my paycheque that I put into retirement accounts (aside from general savings) and I wonder if I'll event notice when (if) I start collecting CPP. I think about the 25$ I pay for term life/injury insurance or the policy my work pays for all of its employees and I wonder if even if I died early whether the CPP benefit my child would get is even comparable (CPP also covers survivors' benefit for some unknown reason).

            I contemplate all these things. But most of all, I wonder why I rant openly to strangers on the internet before I stop.

              What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]
              I think he means it was almost negligible.

              It changed because with industrialization people got money to buy things and there were things to buy.
              For centuries the only thing you could buy was land and the people with money already had land and their money was in the form of land.
              There wasn't a lot of cash around in the middle ages.

              Nearly right. The CPI was pretty constant before centralized monetary policy that started with the Federal Reserve in 1913. It was determined that slight inflation was preferable to inflation brought on by war followed by deflation afterwards as inflation benefits borrowers (historically, this meant helping rural farmers, and it was a big part of the late 1800s Democrat platform). This slight inflationary policy meant that the gold standard was doomed, as happened in 1974.

              So yes, it was only a few generations ago (about 100 years) where inflation was minimal overall.


              Entirely correct and you phrased it better than I could have :)
              « Last Edit: September 05, 2016, 04:52:52 PM by kayvent »

              johnny847

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              Re: Overheard on Facebook
              « Reply #5188 on: September 05, 2016, 04:56:00 PM »
              I apologize for the foam in advance. Pensions are still a big thing here in little old Holland but I have to say, it annoys me to no end. Sure, we get a giant match (employer puts in 4x my input, which held from my gross income, so it grows tax-free). On the other hand: it's obligatory. I can't opt-out. I also can't put any extra money in. And all the time, I get news updates that the pension fund's returns are low because of market circumstances and the pay-out is constantly lowered. I don't even want to think about what the fund's managers make... I don't know, I just prefer to manage it myself, but the system's based on solidarity. (Or as I call it: a ponzi-scheme...)

              I think the US move away from pensions and towards 401k's isn't a clear cut good or bad thing. I mean pensions were great for people who had bad money management skills (or maybe not "bad" but just didn't care about saving for retirement). But at the same time pensions weren't portable. If the rules were you needed to work say 10 years to get full pension benefits, but you quit/were fired/otherwise terminated employment at 9 years, you were pretty boned. At least with a 401k all of your contributions + vested employer match (which usually vests in a year from what I've seen) can always be rolled over to an IRA when you leave. This is a great advantage now that (at least in the industry that I plan to work in when I graduate) job turnover is much greater than it used to be.

              MrRealEstate

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              Re: Overheard on Facebook
              « Reply #5189 on: September 06, 2016, 03:04:26 AM »
              My friend shared a meme that said "I love buying things online because when they arrive it's like a present to me, from me" with a comment saying "17 gifts this week!"

              And all these people were commenting about how many packages they had delivered this week.

              I'm guilty of this same thing, except my cart sits for a month or two until I hit order. Also, my items are a little more of the staple variety. This week was body wash, coffee, and a tv remote for a craigslist find. They still feel luxurious though since I could live without the latter two, and could buy a much cheaper bar of soap.

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              Re: Overheard on Facebook
              « Reply #5190 on: September 06, 2016, 07:04:38 AM »
              My friend shared a meme that said "I love buying things online because when they arrive it's like a present to me, from me" with a comment saying "17 gifts this week!"

              And all these people were commenting about how many packages they had delivered this week.

              I'm guilty of this same thing, except my cart sits for a month or two until I hit order. Also, my items are a little more of the staple variety. This week was body wash, coffee, and a tv remote for a craigslist find. They still feel luxurious though since I could live without the latter two, and could buy a much cheaper bar of soap.

              This. On average, I get 5-6 packages per week. 3$ (including shipping) books, material for home renovations/improvement/garden stuff, pharmacy stuff, etc (aka: stuff we need/use and that isn't particularly expensive)... all of which is about 1/2 the price online compared to the local store, and to get a price that comes CLOSE to online I'd have to drive to the city, which is 60km away. Yay country living.

              And for the record: I like supporting country stores, and will totally spend a dollar or two more on an item to support a small local business. I will NOT spend 2x the price to support a chain store that jacked up the price because they're in the country. At that point, I'll support the cheap chain that ships to my door for free.

              economista

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              Re: Overheard on Facebook
              « Reply #5191 on: September 06, 2016, 09:25:35 AM »
              This wasn't posted by a Facebook friend, but it was an add that popped up in my newsfeed from a local car dealership.  They were advertising 84 months financing for the new F-150 truck!  I personally think this is another form of predatory lending.  If someone has to finance a vehicle over 7 years, they DEFINITELY cannot afford the vehicle, and will be underwater on it for the whole life of the loan.  There were over 100 "likes" on the add!  On the bright side, there were 2 comments, both which were very mustachian in nature about how ridiculous it was.
              Follow along on my journey toward becoming (semi) mustacian :) http://forum.mrmoneymustache.com/journals/economista's-journal/

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              Re: Overheard on Facebook
              « Reply #5192 on: September 06, 2016, 10:19:13 AM »
              Has our country always been dysfunctional like this or is this something recent?

              I maintain that it's always been this way, it just wasn't broadcasted publicly to the extent it is today. Since the advent of social media it's all out in the open.

              maybe in the long run we'll collectively be smarter for it...

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              Re: Overheard on Facebook
              « Reply #5193 on: September 06, 2016, 10:24:41 AM »
              And for the record: I like supporting country stores, and will totally spend a dollar or two more on an item to support a small local business. I will NOT spend 2x the price to support a chain store that jacked up the price because they're in the country. At that point, I'll support the cheap chain that ships to my door for free.

              This - absolutely!

              Goldielocks

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              Re: Overheard on Facebook
              « Reply #5194 on: September 06, 2016, 01:41:21 PM »
              My friend shared a meme that said "I love buying things online because when they arrive it's like a present to me, from me" with a comment saying "17 gifts this week!"

              And all these people were commenting about how many packages they had delivered this week.

              I'm guilty of this same thing, except my cart sits for a month or two until I hit order. Also, my items are a little more of the staple variety. This week was body wash, coffee, and a tv remote for a craigslist find. They still feel luxurious though since I could live without the latter two, and could buy a much cheaper bar of soap.

              This. On average, I get 5-6 packages per week. 3$ (including shipping) books, material for home renovations/improvement/garden stuff, pharmacy stuff, etc (aka: stuff we need/use and that isn't particularly expensive)... all of which is about 1/2 the price online compared to the local store, and to get a price that comes CLOSE to online I'd have to drive to the city, which is 60km away. Yay country living.

              And for the record: I like supporting country stores, and will totally spend a dollar or two more on an item to support a small local business. I will NOT spend 2x the price to support a chain store that jacked up the price because they're in the country. At that point, I'll support the cheap chain that ships to my door for free.

              Not to mention, when you order from places like "online plumbing supply" and "Amazon", you are often supporting a rural store / home location, small business.... just somewhere else in the country.  Yay for online shopping and the neutralization of big box advantage!

              nobodyspecial

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              Re: Overheard on Facebook
              « Reply #5195 on: September 06, 2016, 09:05:23 PM »
              They were advertising 84 months financing for the new F-150 truck!  I personally think this is another form of predatory lending.  If someone has to finance a vehicle over 7 years, they DEFINITELY cannot afford the vehicle
              Cashflow is important in business, if the rate is low enough and you are deducting the cost anyway it seems like a no-brainer.

              ... you would only buy such a vehicle because you had some sort of business that needed to haul loads off-road - right?

              kayvent

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              Re: Overheard on Facebook
              « Reply #5196 on: September 07, 2016, 02:58:44 AM »
              They were advertising 84 months financing for the new F-150 truck!  I personally think this is another form of predatory lending.  If someone has to finance a vehicle over 7 years, they DEFINITELY cannot afford the vehicle
              Cashflow is important in business, if the rate is low enough and you are deducting the cost anyway it seems like a no-brainer.

              ... you would only buy such a vehicle because you had some sort of business that needed to haul loads off-road - right?

              And you'd never get it if you only need a truck one or twice a year. Usually to help a friend move or pick up large furniture - right?

              nobodyspecial

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              Re: Overheard on Facebook
              « Reply #5197 on: September 07, 2016, 06:46:09 AM »
              They were advertising 84 months financing for the new F-150 truck!  I personally think this is another form of predatory lending.  If someone has to finance a vehicle over 7 years, they DEFINITELY cannot afford the vehicle
              Cashflow is important in business, if the rate is low enough and you are deducting the cost anyway it seems like a no-brainer.

              ... you would only buy such a vehicle because you had some sort of business that needed to haul loads off-road - right?
              And you'd never get it if you only need a truck one or twice a year. Usually to help a friend move or pick up large furniture - right?

              Obviously. I am surprised how many they sell though.
              I guess that most Americans and Canadians must be cattle ranchers, wild-cat oil drillers or lumberjacks.


              Werthless

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              Re: Overheard on Facebook
              « Reply #5198 on: September 07, 2016, 12:05:45 PM »
                What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]
                I think he means it was almost negligible.

                It changed because with industrialization people got money to buy things and there were things to buy.
                For centuries the only thing you could buy was land and the people with money already had land and their money was in the form of land.
                There wasn't a lot of cash around in the middle ages.

                Nearly right. The CPI was pretty constant before centralized monetary policy that started with the Federal Reserve in 1913. It was determined that slight inflation was preferable to inflation brought on by war followed by deflation afterwards as inflation benefits borrowers (historically, this meant helping rural farmers, and it was a big part of the late 1800s Democrat platform). This slight inflationary policy meant that the gold standard was doomed, as happened in 1974.

                So yes, it was only a few generations ago (about 100 years) where inflation was minimal overall.

                <Image snipped>
                I agree with your broader point, but any graph showing a concept (eg. stock prices, CPI) that is compounding will have that convex shape with an increasing slope. That doesnt tell you whether the underlying growth rate is increasing or decreasing over time, because it is very difficult for our eye to discern changes in convexity. A severe 20% jump in CPI would be hidden if it occurred in the left quarter of the graph. As an exercise, you can create a graph showing how $1 in Excel compounds a constant 3% over 150 years, and you might be surprised at the shape.

                To avoid deception, most economists showing changes in growth rates will do one of 2 things. One, use a logarithmic scale. Two, show the yearly change without compounding. As an example, see image from Wikipedia below

                « Last Edit: September 07, 2016, 12:11:27 PM by Werthless »

                Pooperman

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                Re: Overheard on Facebook
                « Reply #5199 on: September 07, 2016, 12:24:36 PM »
                  What does it mean to have "incremental" inflation vs. compounded and why did it change?[/list]
                  I think he means it was almost negligible.

                  It changed because with industrialization people got money to buy things and there were things to buy.
                  For centuries the only thing you could buy was land and the people with money already had land and their money was in the form of land.
                  There wasn't a lot of cash around in the middle ages.

                  Nearly right. The CPI was pretty constant before centralized monetary policy that started with the Federal Reserve in 1913. It was determined that slight inflation was preferable to inflation brought on by war followed by deflation afterwards as inflation benefits borrowers (historically, this meant helping rural farmers, and it was a big part of the late 1800s Democrat platform). This slight inflationary policy meant that the gold standard was doomed, as happened in 1974.

                  So yes, it was only a few generations ago (about 100 years) where inflation was minimal overall.

                  <Image snipped>
                  I agree with your broader point, but any graph showing a concept (eg. stock prices, CPI) that is compounding will have that convex shape with an increasing slope. That doesn't tell you whether the underlying growth rate is increasing or decreasing over time, because it is very difficult for our eye to discern changes in convexity. A severe 20% jump in CPI would be hidden if it occurred in the left quarter of the graph. As an exercise, you can create a graph showing how $1 in Excel compounds a constant 3% over 150 years, and you might be surprised at the shape.

                  To avoid deception, most economists showing changes in growth rates will do one of 2 things. One, use a logarithmic scale. Two, show the yearly change without compounding. As an example, see image from Wikipedia below

                  I was trying to find a log scale version of it, but no luck going back as far as I wanted to. Still, it's obviously a long-term 0% year-to-year inflation between the beginning of the chart through WW1, at which point purposeful monetary policy takes over. The point was that it wasn't a direct result of industrialization (though it's probably an indirect one).