After reading this, I still don't understand what stablecoins are and how they work. The only really useful thing they appear to do is get around the high transaction fees of credit cards. But so does Zelle. I own a rental and manage it on apartments dot com. If the tenant pays their rent with an ACH transfer there is no fee for either of us. Setting up the ACH was quick and easy.
It also helps to explain why so many people who should know betterstill make poor financial decisions, based on emotions. I don't think, "what the numbers say and your feelings about it," deserve equal weighting.
I wanted to know more about this so I did a Google search. The AI summary said this:
Initial effect: When ATMs were first introduced, they did not cause a reduction in the total number of bank tellers.
Shift in role: ATMs took over many routine transactions like cash withdrawals and deposits, freeing up tellers for more complex tasks.
Increased efficiency and branch expansion: The automation provided by ATMs allowed banks to operate more efficiently, leading to the opening of more branches. This initial expansion of branches counterbalanced the reduction in tellers per branch.
Changing skills: The remaining bank teller duties became more focused on customer service and sales, requiring greater skills and training.
Long-term decline: While ATMs did not cause an immediate job loss, they did contribute to a gradual decline in the number of bank tellers over time. This decline is also due to other factors like online and mobile banking.
Future trends: Projections suggest a further decline in teller employment as ATM technology becomes more sophisticated and online banking becomes more prevalent.
It also linked to a Bureau of Labor Statistics article that forecasts a projected to decline 15 percent from 2023 to 2033.
https://www.bls.gov/ooh/office-and-administrative-support/tellers.htm#tab-6
Therefore, Laffer argued, there must be an optimal rate in between that maximizes government revenue.
The question: What is that rate? This is precisely the debate that’s occurring today in Washington.
That's not really the question. Republican are not looking for the optimal rate. That rate is much higher than what we have now. Taxes during the Clinton admin were higher, the budget was balanced, and people still worked. Oh, and the economy boomed.
My parents employed some of these strategies with me and my siblings. My mother was very frugal and that rubbed off on me. I had a toy cash register that you could put change in and keep a running total of the amount. Only after it reached $10 would it open. Then I would take it to the bank and deposit it into my own savings account. When I turned 12 she told me I was going to get a paper route, I never would have thought of it on my own. I was allowed to spend half of the money I earned, the rest went into savings. I loved watching the balance of my savings account grow. My dad took me to his broker and I bought one share of stock. It made me feel very adult. None of my friends owned stock. After I turned 16, I always had some kind of part-time job. Summers I would work as many hours as I could. I guess the most important thing they taught me is delayed gratification.
IRMAA penalizes people for saving. It takes from people who saved and redistributes it to people who didn't save in the form of lower Medicare premiums.
Comments
How can you trust the issuer of the stablecoin? If there are many players, there are sure to be many fraudsters.
Post: Smart Move?
Link to comment from August 9, 2025
After reading this, I still don't understand what stablecoins are and how they work. The only really useful thing they appear to do is get around the high transaction fees of credit cards. But so does Zelle. I own a rental and manage it on apartments dot com. If the tenant pays their rent with an ACH transfer there is no fee for either of us. Setting up the ACH was quick and easy.
Post: Smart Move?
Link to comment from August 9, 2025
It also helps to explain why so many people who should know betterstill make poor financial decisions, based on emotions. I don't think, "what the numbers say and your feelings about it," deserve equal weighting.
Post: Room to Maneuver
Link to comment from July 5, 2025
I wanted to know more about this so I did a Google search. The AI summary said this:
- Initial effect: When ATMs were first introduced, they did not cause a reduction in the total number of bank tellers.
- Shift in role: ATMs took over many routine transactions like cash withdrawals and deposits, freeing up tellers for more complex tasks.
- Increased efficiency and branch expansion: The automation provided by ATMs allowed banks to operate more efficiently, leading to the opening of more branches. This initial expansion of branches counterbalanced the reduction in tellers per branch.
- Changing skills: The remaining bank teller duties became more focused on customer service and sales, requiring greater skills and training.
- Long-term decline: While ATMs did not cause an immediate job loss, they did contribute to a gradual decline in the number of bank tellers over time. This decline is also due to other factors like online and mobile banking.
- Future trends: Projections suggest a further decline in teller employment as ATM technology becomes more sophisticated and online banking becomes more prevalent.
It also linked to a Bureau of Labor Statistics article that forecasts a projected to decline 15 percent from 2023 to 2033. https://www.bls.gov/ooh/office-and-administrative-support/tellers.htm#tab-6Post: The Jevons Paradox
Link to comment from June 28, 2025
I don't know. When I type something it helps me better focus on the information I'm receiving. But I have ADHD.
Post: The Jevons Paradox
Link to comment from June 28, 2025
Post: Good in Theory
Link to comment from June 15, 2025
Post: Up Because It’s Up
Link to comment from May 31, 2025
My parents employed some of these strategies with me and my siblings. My mother was very frugal and that rubbed off on me. I had a toy cash register that you could put change in and keep a running total of the amount. Only after it reached $10 would it open. Then I would take it to the bank and deposit it into my own savings account. When I turned 12 she told me I was going to get a paper route, I never would have thought of it on my own. I was allowed to spend half of the money I earned, the rest went into savings. I loved watching the balance of my savings account grow. My dad took me to his broker and I bought one share of stock. It made me feel very adult. None of my friends owned stock. After I turned 16, I always had some kind of part-time job. Summers I would work as many hours as I could. I guess the most important thing they taught me is delayed gratification.
Post: Lessons for Life
Link to comment from May 17, 2025
Is a falling US dollar good for international stock index funds?
Post: Spreading Your Bets
Link to comment from April 12, 2025
IRMAA penalizes people for saving. It takes from people who saved and redistributes it to people who didn't save in the form of lower Medicare premiums.
Post: Trouble Ahead
Link to comment from February 8, 2025