Category: Economy

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Valley Wag Fails to Understand Coin in Neo-Luddism Fashion

Gawker’s Valley Wag misses the boat on Coin in a way that screams poor journalism. Why do I say poor journalism? Take this ValleyWag quote: "It’s also inherently riskier than carrying a few cards on you, as one lost Coin means everything is gone at once." Obviously ValleyWay did not even look at Coin’s FAQ or attempt to talk to someone at Coin.

  • Coin can alert you in the event that you leave it somewhere.
  • Coin will automatically deactivate if it loses contact with your phone for a period of time that you configure in the Coin mobile app.

[Source, Coin’s FAQ]

My response to ValleyWag:

ValleyWag is completely missing the point. Not only is this a great solution to reduce the size of your wallet but it brings great security to your physical financial transactions. Imagine leaving your credit card at a restaurant. We’ve all done it. You know the fear of someone having access to your bank accounts while we rush back to the store, the hassle of being on hold with the credit card company to cancel the card, etc. With Coin, if it detects that it is away from your phone for a set amount of time, the card deactivates until you reactivate it. It becomes a useless piece of plastic! Also if you start to walk away from it, your phone beeps to warn you that the Coin has possibly been left behind. When we hand a card to a waiter, as they walk away from your table they could be texting your credit card number to a friend who could be making large purchases online before you even get to sign your check. With Coin, only the last 4 digits of the credit card number are ever shown so this type of theft becomes impossible.

ValleyWag also misses that this is not just a credit card, it is a programmable swipe card. If I get to my office only to realize I left my door entry card at the house, with Coin, I simply need to load my access card onto Coin from my cell phone and I’m back in the building for the day without having to run back home.

We collect loyalty card after loyalty card then get rid of them by using phone apps that are slow to open and only scan by the cashier half the time slowing down the line behind us. Coin will replace loyalty cards also.

This is a great product that everyone needs.

Read more about Coin at this post: One card to rule them all!

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One card to rule them all!

Early adopters buy one now! Pre-orders are half price at $50 instead of $100.

Coin is basically a programmable swipe card. You store all your credit cards, building entry cards, loyalty cards, etc. (anything with a magnetic strip) in your smartphone. The physical Coin card can hold up to 8 cards in its memory. If you need to swap one out, you plug the Coin swipe device (think Square) into the headphones jack of your smartphone, select the card you need, and swipe the Coin and it is now programmed with the correct card.

Imagine leaving your credit card at a restaurant. We’ve all done it. You know the fear of someone having access to your bank accounts while we rush back to the store, the hassle of being on hold with the credit card company to cancel the card, etc. With Coin, if it detects that it is away from your phone for a set amount of time, the card deactivates until you reactivate it. It becomes a useless piece of plastic! Also if you start to walk away from it, your phone beeps to warn you that the Coin has possibly been left behind. When we hand a card to a waiter, they could write down the numbers on the card. With Coin, only the last 4 digits of the credit card number are ever shown.

Coin makes your wallet smaller and your transactions more secure. Buy yours today!.

Disclaimer: I’ve pre-ordered mine. Each of the links to Coin in this post includes my referral link. I receive a $5 credit from Coin for each referral that makes a purchase which means once ten people have purchased through my link, my Coin becomes free. If you are going to purchase one, please do it with one of these links. Thank you!

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Out of Balance

Out of Balance

A Harvard business prof and a behavioral economist recently asked more than 5,000 Americans how they thought wealth is distributed in the United States. Most thought that it’s more balanced than it actually is. Asked to choose their ideal distribution of wealth, 92% picked one that was even more equitable.

ACTUAL DISTRIBUTION OF WEALTH

 
 
 
 
 

WHAT AMERICANS THINK IT IS

 
 
 
 
 

WHAT THEY WOULD LIKE IT TO BE

 
 
 
 
 
0
20
40
60
80
100

Source: Michael L. Norton, Harvard Business School; Dan Ariely, Duke University

And for the REAL image, look on page 11 of Michael I. Norton and Dan Ariely’s report http://www.people.hbs.edu/mnorton/norton%20ariely%20in%20press.pdf (the online version is here: http://pps.sagepub.com/content/6/1/9)

What is this?

Today, a manipulated image of this data is spreading like wildfire through the Internetz particularly over Facebook. The source of the image can be found at MotherJones.com but has been altered to show a baby peeing on a man and a a kitten commenting that "tickle down" doesn’t work. The original image is within a PDF and JPG so I’ve decided to put it here in plain text. Rather than looking at Norton and Ariely’s findings (online version), I guessed at the numbers but they look pretty close to the actual image. It makes the point.

If you are going to share this image today, please share from the PDF from MotherJones or the JPG from MotherJones instead of passing around the one with the cat.

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To the members of US Congress

(full size)

Seen at http://imgur.com/3prAG

It is comforting to know that am emergency team of 8th-grade civics teachers has been dispatched to Washington!

WASHINGTON—With lawmakers still at an impasse over increasing the debt ceiling, a special team of 40 eighth-grade civics teachers was air-dropped into Washington earlier today in a last-ditch effort to teach congressional leaders how the government’s legislative process works. [READ MORE]

[Source, the ONION, Emergency Team Of 8th-Grade Civics Teachers Dispatched To Washington]

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Is your country’s GDP compensating for something?

Why yes it is!

The size of male organ is found to have an inverse U-shaped relationship with the level of GDP in 1985. It can alone explain over 15% of the variation in GDP. The GDP maximizing size is around 13.5 centimetres, and a collapse in economic development is identified as the size of male organ exceeds 16 centimetres. Economic growth between 1960 and 1985 is negatively associated with the size of male organ, and it alone explains 20% of the variation in GDP growth. With due reservations it is also found to be more important determinant of GDP growth than country’s political regime type.

[Source, Helsinki Center of Economic Research, Male Organ and Economic Growth: Does Size
Matter? by Tatu Westling, University of Helsinki, ISSN 1795-0562]

See also.

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The US Healthcare System is the Best in the World!

Well, actually it’s ranked 37th.

Evidence that other countries perform better than the United States in ensuring the health of their populations is a sure prod to the reformist impulse. The World Health Report 2000, Health Systems: Improving Performance, ranked the U.S. health care system 37th in the world…

It is hard to ignore that in 2006, the United States was number 1 in terms of health care spending per capita but ranked 39th for infant mortality, 43rd for adult female mortality, 42nd for adult male mortality, and 36th for life expectancy. These facts have fueled a question now being discussed in academic circles, as well as by government and the public: Why do we spend so much to get so little?

[Source, , ]

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So why does the ice melt?

The country that brought us Chernobyl will now be floating 8 nuclear power plants on top of the world. Granted, the United States had Three Mile Island and I’m told by an old timer that apparently there is was a reactor meltdown in Oak Ridge in the 50s that was buried physically and by public relations but I cannot validate that. Let’s not forget who is the world leader in exploded nuclear bombs. As the arctic ice shrinks and exposes more land, a battle is brewing for the possible gas and oil reserves previously hidden by the ice. The major players will be Canada and Russia but other countries could try to stake claims. With these ships that could supply power to 45,000 for 12 years at a time..that’s 12 years without needing to return to port..Russia certainly has an advantage.

[Source, BBC, A rare view of Russia’s floating nuclear power station]

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A Tale of Our Times

Everyday I read something online that is telling either directly or subtly of our economic times.

The tow truck is now on its way to my friend Wayne’s garage to be fixed. Please pray for me that the repair costs will be affordable!Thanks! [Source, Twitter, isacarybell]

Over the years, I have desired to intimately write about our financial victories and our financial struggles but could never figure out how to do so without sounding like a braggart or a beggar. I simply could never be as intimate nor poignant as DeMarCaTionVille in the post Gloom, Despair and Agony on Me. Read the whole thing!

Over the past six months, my daughter nearly died. I lost my job…the hubby was laid off…during the same week Diva’s thoracic surgeon mailed out his bill….also lost two relatives…merging households with my mother-in-law…the KKK [Source, DemarCaTionVille, Gloom, Despair and Agony on Me]

Btw, to DeMarCaTionVille, thanks for the Hee Haw flashback!

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Claiming your kidnapped child on your taxes

Folks, as tax season closes up many of us may rush through doing our taxes to meet the April 15th deadline. I wanted to point out a couple of details about your kidnapped child. Remember, if you plan on claiming your kidnapped child as a dependent, make sure that the kidnapper is not someone in your family or the child’s family (I’m not terribly clear on how the two are differentiated). Also, the child must have lived with you for at least one half of the portion of the year that they were actually with you. And remember, the child can no longer be claimed a dependent the year after they would have become 18 years of age because, well, they’re not with you and they are adults which makes them emancipated…they’ll claim themselves. For the actual IRS language, see Topic 357 – Tax Information for Parents of Kidnapped Children Last Reviewed or Updated: November 25, 2008. Those people at fairtax.org just haven’t thought about all the possibilities that Uncle Sam has already covered for us!

This post with apologies to anyone who actually has a kidnapped child.