Weathering the Economic Downturn

[solv3nt]

Got through an entire month without using my Citi card.

Credit cards aren't necessarily bad. It's only bad when you pay interest. I put all that I can on the card and take the +2.0% cash back, but I pay it off in full each month.

 

[Longwalkhome]

Credit cards aren't necessarily bad. It's only bad when you pay interest. I put all that I can on the card and take the +2.0% cash back, but I pay it off in full each month.

You are right because inflation is 14%+ now and you are saving money if you need to buy things. I pay mine off every month too, it's the wise thing to do.

Deal is for me is I don't need things as much as young people do. Plus I don't have an income to replace the money I spend that is greater than my pension and SS. At 14% inflation my savings are going fast so I decided to not spend them. Yes the value of the money is going down but I am not buying inflated goods unless I have to.

I don't go out and eat those $8 hamburgers or buy a $4 bag of chips so inflation only hits me if I spend the money. I figure when folks run out of money then prices will come down but business is going to fail so where will a man buy what he needs?

 

[Stomper]

If it floats, flies or bubblegums, it's cheaper to rent.

My poop (usually) floats…. it's for rent if you want.

 

[Stomper]

Credit cards aren't necessarily bad. It's only bad when you pay interest. I put all that I can on the card and take the +2.0% cash back, but I pay it off in full each month.

Sounds great, but thinking it through… that 2% "cash back" is funded by millions of (for instance) single working moms in debt up to their arses struggling to keep their kids fed and housed paying exorbitant interest rates because they had to max out their credit cards which literally enslaves them for the rest of their remaining lives with no hope of ever paying it off.


I'll pass.

 

[Longwalkhome]

Sounds great, but thinking it through… that 2% "cash back" is funded by millions of (for instance) single working moms in debt up to their arses struggling to keep their kids fed and housed paying exorbitant interest rates because they had to max out their credit cards which literally enslaves them for the rest of their remaining lives with no hope of ever paying it off.


I'll pass.

you will pay all your life for those who can't pay so getting a 2% break is payback I guess. This month look at all you utility bills and the taxes you pay for those who can't pay. Your phone too, you pay a tax because they give free phones to people who can't afford phones.

 

[Longwalkhome]

Here is a video of a recent Seattle gunfight. This is what we will have to weather in the long run. Summer is here and people will be outdoors more and having no money they will turn to crime. This is what it looks like.

Just Another Night in a Seattle Neighborhood

*** The Liberty Daily benefits when you shop using the following links and Code: TLD _ The Liberty Daily Recommends ONE Honest, America-First Precious Metals Company - Our Gold Guy! https://ourgoldguy

rumble.com

 

[solv3nt]

Sounds great, but thinking it through… that 2% "cash back" is funded by millions of (for instance) single working moms in debt up to their arses struggling to keep their kids fed and housed paying exorbitant interest rates because they had to max out their credit cards which literally enslaves them for the rest of their remaining lives with no hope of ever paying it off.


I'll pass.

It's also funded every time you swipe by the vendor. A vendor pays about 3% to the credit card company for every swipe.

 

[Stomper]

It's also funded every time you swipe by the vendor. A vendor pays about 3% to the credit card company for every swipe.

That's already baked into the price you're paying. Businesses don't pay taxes or service provider fees, they merely collect them for the government or their service providers.

 

[solv3nt]

That's already baked into the price you're paying. Businesses don't pay taxes or service provider fees, they merely collect them for the government or their service providers.

It's not. There's an additional charge.

 

[thorborg]

Along with the other stuff mentioned; Feed your mind, learn how to do / fix/ make / feed yourself.

 

[Stomper]

It's not. There's an additional charge.

In our Excel estimating templates we have calculated "switches" to turn off/on for the various jurisdictional taxes and their rates…. Oregon CAT, PDX, MULTCO, METRO area taxes, WA sales taxes, credit card processing fee, etc.

It all gets baked into the retail pricing just like every other business that has to calculate their overhead expenses into the pricing matrix that determines the total price.

Now that's not to say large ("big box") retailers don't spread that processing fee out thinner to compensate for those who pay with cash or deal in large volumes (ie COSTCO, etc), but ALL overhead costs are factored into the price of goods and services.

 

[solv3nt]

In our Excel estimating templates we have calculated "switches" to turn off/on for the various jurisdictional taxes and their rates…. Oregon CAT, PDX, MULTCO, METRO area taxes, WA sales taxes, credit card processing fee, etc.

It all gets baked into the retail pricing just like every other business that has to calculate their overhead expenses into the pricing matrix that determines the total price.

Now that's not to say large ("big box") retailers don't spread that processing fee out thinner to compensate for those who pay with cash or deal in large volumes (ie COSTCO, etc), but ALL overhead costs are factored into the price of goods and services.

Yes, you are correct that it's baked into the cost of goods sold. But it's an additional charge the credit card company charges the vendor.

Legally, I don't believe vendors are supposed to charge for the usage, but if you look at GunBroker, they give you a discount if you don't swipe.

 

[Stomper]

Yes, you are correct that it's baked into the cost of goods sold. But it's an additional charge the credit card company charges the vendor.

Legally, I don't believe vendors are supposed to charge for the usage, but if you look at GunBroker, they give you a discount if you don't swipe.

Phew…. took me a brief second to register that you said, "sWipe"!

 

[solv3nt]

Phew…. took me a brief second to register that you said, "sWipe"!

So THAT'S why you don't swipe! I knew there was a reason, you got in trouble for dropping trou at the grocery store!

 

[Stomper]

So THAT'S why you don't swipe! I knew there was a reason, you got in trouble for dropping trou at the grocery store!

Hey, that ain't no card swipe-reader!

 

[Longwalkhome]

It's going to get interesting as they crash the economy while bringing in millions of illegals. Heck just the property tax increases for the schools will hurt like hell.

 

[Longwalkhome]

Hey, that ain't no card swipe-reader!

More likely a bicycle rack.

 

[nwslopoke]

I don't go out and eat those $8 hamburgers or buy a $4 bag of chips so inflation only hits me if I spend the money. I figure when folks run out of money then prices will come down but business is going to fail so where will a man buy what he needs?

Where are you getting $8 hamburgers? Deal me in. The quality of food has taken a turn for the worst while getting more expensive.

I've also experienced, the more money you save the less money you need for emergencies. When the savings get depleted the problems start kicking in.

 

[Certaindeaf]

Along with the other stuff mentioned; Feed your mind, learn how to do / fix/ make / feed yourself.

Teach a man to fish, less fish for you!

 

[Member 53328]

Here is a video of a recent Seattle gunfight. This is what we will have to weather in the long run. Summer is here and people will be outdoors more and having no money they will turn to crime. This is what it looks like.

Just Another Night in a Seattle Neighborhood

*** The Liberty Daily benefits when you shop using the following links and Code: TLD _ The Liberty Daily Recommends ONE Honest, America-First Precious Metals Company - Our Gold Guy! https://ourgoldguy

rumble.com

Just hood rats. Doing hood rat sh!t.