economic downturn - Bettina Network's Blog

Posts Tagged ‘economic downturn’

Republicanism BC and AD – oops, AT*

Wednesday, October 16th, 2013

*BC = Boehner Cruz;  AT = After Tea Party

copyright 2013 Bettina Network, inc.

The singing reported in the Tea Party’s caucus reminded me of the Titanic – remember? As they went down, those who could not or did not leave the ship went down singing Amazing Grace.  Isn’t that what happened last night?  It was a suicidal atmosphere with everyone being made to drink the Kool Aid with the pseudo religious environment to encourage those who were losing faith.  I guess from the songs being sung there must  have been only Conservative Evengelical Christians in the room.  Somehow, we couldn’t see Jews, Muslims, Atheists  or Episcopalians grooving and responding to what was described.

Many things about this have caused some really great breakfast conversations.  If you can call anything in the immediate time before your own financial demise ‘great.’

So much is so hokey: (Kind of the theme of one of our breakfast conversations)

1) The Speaker of the House – Boehner – could have avoided all of this by putting the issue on the floor of the House and it would have passed – but it would have passed with bipartisan support and they refused to even consider that possibility.  Is all of this really about keeping Republicans Republican and refusing to allow any kind of bipartisan action, discussion, votes, etc.?

They seem to be looking in the mirror and calling Obama out on what they see there.  And someone accused them of racism.  How can that be when the reflection they see in the mirror is that of a Black man?

Some sub-topics “My grandfather told me to look away when people start talking the way the Tea Party folks are talking” – such as the comments about their trying to ‘save’ the United States from fiscal ruin because we soon won’t be able to pay our debts.  And what do they do about this? Put the United States in a position of a credit default which would raise interest rates on everything and make the cost of carrying the debt we have unbelievably heavy – and a burden shared by every citizen of these United States.  How exactly does their stance help?

They bash Obama for not being “bipartisan’, but not being bipartisan is not allowing a vote to come to the floor of the House because it might be passed with a bipartisan vote and that can’t be allowed.

2)  Cruz – the now leading contender from the Tea Party for President of these United States in the next election.  Talk about disasters and a man either on an unusually high dose of testosterone or whose body produces way too much testosterone for him to be allowed to do anything except knit, crochet, sew, sit quietly listening to lovely soothing music, etc..  If he gets elected, the folks around the breakfast table – including one Republican – decided they would pack their bags, update their Visas and leave until the U. S. comes to its senses.

3) What was ominous was the comparison of what the U. S. is going through with parallels to what Germany went through with the rise of the Nazi Party.  It sent chills down your spine to even know there was someone who saw this as a parallel.

4) What was really upsetting was the comment that one person made about his interpretation of what he was seeing being played out.  He didn’t agree with the woman who saw the beginnings of Nazi American in all of this, he assumed that Boehner has a huge problem with alcohol and Cruz looks as though he was using that knowledge and pushing Boehner to the wall – go along with us or your alcoholism is exposed to the world.  And the media was only talking about how Boehner was acting the way he was because he was concerned about losing his Speakership- have they missed something big or is this like JFK’s womanizing – lets not talk about the obvious it isn’t nice.

And here in our corner of the world was one small group wrestling with the fact that our Congress is acting like Alcoholics, their enablers or have we missed something important!

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Breakfast Table Talk about Debit Cards

Sunday, May 6th, 2012

copyright 2012 Bettina Network, inc.

We’ve had a two day breakfast session.  The first morning we casually talked about banks, credit cards, debit cards and the rip-off happening to all of us.  One guest at the table was a banker.  I should say a disillusioned banker who was dealing with how to maintain the ethical base with which he was raised and continue to work for a bank – or should he change jobs!!  It was fascinating stuff to take home and think about.

In todays market that is a difficult option, especially since he has worked in banks most of his adult life and it was his chosen field.  He is still pretty young, but after several years in the banking world it takes a better economy than the one in which we are functioning to allow him to make such a change.

The disillusioned banker and the woman who was confused about her debit card provided us with two days of great conversation and amazing information.  She wanted to know what we thought about debit cards and that sent the conversation off to the races.

The banker gave her an analysis, which is why the conversation carried on into the next day.  She went back to her room, pulled up her bank statement from her computer, printed it and brought it to breakfast the next morning.  She was still confused as to what the debit card cost her and she wanted to take advantage of being able to talk to a banker, who was not her own banker and who was in a mood to provide accurate information, which she didn’t expect her banker to do.

He looked at her bank statement – which kind of freaked out the rest of us with all of our privacy issues – but we were just as interested in seeing her bank statement as was the banker and it got passed around the table.  I have never experienced that before – ever.

When he finished calculating what it cost her to use a debit card we were all ready to cut up all of our cards – credit as well as debit cards.  Thought the rest of you might be interested in this analysis so it follows in as good a recollection and synopsis as I can come up with.  I wish I could give you the figures, but I didn’t want to be too obvious and she had already braved her privacy needs to bring her bank statement to breakfast so I don’t want to make her particular figures public.  You probably wouldn’t know her anyway, but I still can’t overcome my huge privacy needs to even give you the particulars on Ms. Anonymous:

1) She liked the fact that money was immediately moved from her checking account whenever she made a purchase with her debit card – kept her honest, she said.  The banker said she shouldn’t be so happy about that because even though the amount of money she received on her balance was really small, it was her money and when she had this immediate withdrawal upon using the card, she was receiving less money that month on her balances than if she used a check to pay for her purchases.  Since she used her debit card several times during the month, that could add up as that meant there were many days during which her balances were reduced prematurely when money was withdrawn immediately upon the use of the card.

By using a check instead of a debit card for her purchases, the money would stay in her account two or three days longer and for someone who had a minimum balance to maintain for the kind of account she had, that could be important and could begin to add up to nice amounts of money. Although from her bank statement she wasn’t hurting for money – still as the banker said, it was her money and she should not be prey to the banks, thinking up new ways to relieve her of her funds.

Well, that was an eye opener which none of us thought about before, but not a biggy since we realized something like that was going on – the bank benefiting from one of its products and we losing money from the same.  It is what we have been conditioned to look at as ‘normal’ and ‘acceptable’ banking practices. It was just a few dollars to us, but major income for the bank when they could keep our money in their account instead of in ours and get a free ride with a huge accumulation of such monies for a couple days.

“Our banker” as we began to call him,  then calculated what the bank was making – in addition to the money moving from her account to theirs’ where it ‘cured’ for a few days with their pennies making pennies for them instead of our pennies making pennies for us, before it was collected by whatever entity it was going to for her purchases.

2)  Every time you make a purchase with your debit card, the merchant you are paying has to pay the bank somewhere around 1 or 2 percent or some where inbetween to pay for the cost of making that transaction possible. We didn’t understand that.  We knew that happened with credit cards, but didn’t understand why that cost wasn’t paid by the monies the bank made by keeping our money for the two or three days float they managed to secure by the way they set up the use of the debit card. We wanted to know why this extra charge was being put on our purchases – especially since we all knew the merchant would have to pass that cost along to us as an addition to the cost of whatever purchase we were making.  No answer from anyone at the table until someone said the magic word “GREED”.

3) The third way  banks make money on debit cards is via the ATM machines.  Some banks charge to use their ATM machine  and some don’t, so we didn’t consider that banks making money on our debit card use, but they do.   So now I will always go to my bank to cash a check because my bank charges for use of their ATM machine – I never seem to be in the category of no charge for use of those machines.  She wasn’t either since her bank statement showed several ATM charges.  OR when I make a deposit I will take cash out with which to survive so I don’t have to go to the ATM machines.

Wow! After that I am paying for my purchases by check and having cash on hand to pay for the little things so I don’t have to use either credit or debit card or ATM machine.  The next thing you know I will be withdrawing my cash from under my mattress – talk about back to the past.  Why did we need banks in the first place?

Not one of the above was a lot of money for any one of us, but when you add  them all together and multiply by tens of thousands of such amounts, the bank is doing very well and we are not doing so well.  This is hard-earned money the bank takes away from most of us.  The bank gets very fat; messes over people like us who provide them with an incredibly luxurious lifestyle and we get to scrimp our pennies to live just reasonably well.  No wonder the Occupy people are out on the streets.  I am beginning to better understand some of their issues.

My debit card is no longer usable because I cancelled it right after that breakfast.  The bank said I didn’t need to cancel the card I should just stop using it and keep it for emergencies.  Somehow, I didn’t think that was said in my best interest so I insisted that the card be cancelled.

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Ed. Note: Members of the Bettina Network Lifestyle Community can contribute to the Bettina Network Blog whenever they have anything they want to say and be heard by this fantastic group of people. Send your blog to bettinanetwork@comcast.net or mail it to us at P. O. Box 380585 Cambridge, MA. 02238 or call us on the telephone at 617-497-9166 to tell us what you want to say and we will write it for you.

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A Wonderful Concord Christmas Story

Saturday, December 31st, 2011

copyright Bettina Network, inc. for Barbara Marden 2011

A few days before Christmas I was giving a friend’s out of town visitor a tour of the house.  My friends six year old son David was with us and did he get excited when I showed him  a secret place to store treasures.  It was in our main bed and breakfast bedroom above the fireplace mantelpiece. Our “restoration” carpenter from New Hampshire created that little cavern when he tore down the wall above the mantelpiece and put shelves in the recess. David was less impressed by my description of what we found when the wall was torn. The major items were a ladies button boot, a breast pump, and some letters, each offering consolation for the death of a child.  Losing a child was apparently a common event for families from the time our house was built in the early 1700s through even later times.

 

One of the letters, three pages long, and now in the Concord library, showed beautiful handwriting similar to our forefathers’ writing of our Constitution. It was a letter from Cyrus Barrett to his sister Sally, who had married into the Wood family living in our house. The Barrett family house is now being restored as part of Concord’s historical park.  The Minutemen had ammunition hidden in the Barrett’s cornfield the day of the shot heard round the world. Written in New Orleans in 1819, Cyrus first offered condolences over a son’s death  and continued by describing a familiar theme, an economic downturn. I have not corrected the spelling in the following quotes:

 

“I was much affected by the maloncholly intelligence contained in your letter of the sudden death of your affectionate and much loved little John.  I recollect him perfectly and have often been amused by his innocent playfulness.  I am not surprised that his death should occasion the deepest sorrow in you, yet at the same time you are left with the comfortable assurance that he is happier than your fondest wishes and care could have made him.”

 

“New Orleans has for some time past been suffering under a heavy weight of commercial embarrasement.  Many of her most enterprising Merchants have failed and those who continue in business are constantly complaining of heavy taxes.  The Produce of the country is extremely low. Cotton which formerly sold for 30 cents now sells for 16 cts and other articles have suffered the same depression in values, but notwithstanding the times look so gloomy we are looking forward for a change.”

 

Thinking about the letters makes me glad to be alive today.  In spite of all the economic and political problems, we are saved the grief of losing so many children.

And of course so many of our tasks are much easier, for instance baking these Russian tea cakes I gave my friend to take home.  They make excellent cookies for any occasion.

 

INGREDIENTS AND DIRECTIONS FOR BAKING RUSSIAN TEACAKES:

 

1 cup butter                           1 teaspoon vanilla (or brandy)

½ cup confectioners sugar        ¾ cup chopped pecans

2and ¼ cup sifted flour             1 cup confectioners sugar

 

Cream shortening and sugar. Stir in vanilla.  Add flour and then nuts.  Form 1” balls and bake 14 to 17 minutes in 325 oven. While still hot roll carefully in confectioners sugar.

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Want to join us? Have a home that you want to open to become one of Bettina Network’s Hedge Schools? Call us and lets talk – or email us.

Ed. Note: Members of the Bettina Network Lifestyle Community can contribute to the Bettina Network Blog whenever they have anything they want to say and be heard by this fantastic group of people. Send your blog to bettinanetwork@comcast.net or mail it to us at P. O. Box 380585 Cambridge, MA. 02238 or call us on the telephone at 617-497-9166 to tell us what you want to say and we will write it for you.

Volunteer with Bettina Network Foundation, inc. to work estate sales; to help move items from one home to another; to contribute your ideas on how we can better use our resources in this effort to relieve and eliminate homelessness and poverty. We also need photographers; designers; and more. However much or little time you have, we are grateful.

Send your event information to be included in Bettina Network’s Menu of Events to: bettina-network@comcast.net

This is a curated blog so you cannot write your responses at the end of each entry. TO RESPOND TO THIS BLOG email bettina-network@comcast.net or info@bettina-network.com

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