'Naked DSL': how to find and get the best price
By Michael Sorkin
ST. LOUIS POST-DISPATCH
Friday, Jan. 18 2008
Here's something you should know when you order DSL service from AT&T: The
company sells the same speed Internet service at $10, $15 and $20 per month.
— The $14.99 service is called Basic DSL and is the easiest to get. Anyone with
an AT&T landline phone can order it by phone or online.
— The $10 DSL service can be ordered only online, and hundreds of consumers
have had trouble signing up for this, the company's cheapest-ever DSL. AT&T
says it won't sell it to anyone who is already an AT&T Internet customer.
— The newest Internet service is called DSL Direct Basic and costs $19.95. It
can be ordered only through an AT&T call center, but some sales reps say they
have never heard of it.
There are four DSL Direct plans; the $19.95 version is the cheapest and
slowest. The Direct plans are the only ones AT&T will sell consumers without
AT&T landlines.
This type of service is known as "naked DSL."
Each DSL Direct plan costs at least $4 more per month than the same plan for
customers who have AT&T landline phones.
DSL users don't need a phone; Internet service works fine without one.
AT&T is free to charge the higher prices because Internet rates are unregulated.
As for the $10, $15 and $20 Internet plans described above, all are rated at
the same speed: up to 768 Kbps downstream. That's too slow for downloading
movies but may be fine for e-mailing or Internet surfing.
Why charge three prices for the same speed?
AT&T spokesman Andy Shaw says customers have different needs. It's not unusual,
he says, for companies to offer different customers different prices.
AT&T offered $10 DSL reluctantly. The company already was charging higher
prices for Internet service and had no incentive to offer it so cheaply.
As for naked DSL, AT&T wants to sell you as many services as possible:
landline, Internet, cell phone and video. That's called bundling. Naked lets
consumers avoid bundling by choosing only what they want.
But about a year ago, the Federal Communications Commission required AT&T to
offer the lower-cost services in exchange for approving its purchase of
BellSouth.
AT&T began quietly offering $10 DSL about midyear on its website. AT&T said it
would not provide a phone number or e-mail address for anyone needing help.
By the end of the year, the company also began offering naked DSL. It is
quickly gaining popularity with the growing number of computer users who have
traded landlines for cells.
The FCC is requiring AT&T to offer a naked DSL plan for less than $20. An AT&T
spokesman said last month that consumers shouldn't sign up for the $19.95
service online or by calling. He told them to go to company stores.
That advice turned out to be wrong, and Savvy received more than a dozen
complaints.
Mindy Lynn Thomason, a financial analyst from St. Charles, hurried to an AT&T
store, where "they told me I could only sign up by calling."
She called — and reached a sales rep who said he couldn't help her.
This week, AT&T's Shaw offered different advice: He said to sign up for the
$19.95 Direct Basic only through a company call center.
That $19.95 plan is AT&T's cheapest naked DSL service — and the only one for
which the company requires a 12-month contract. The other plans are
month-to-month.
AT&T's site says to call 1-800-288-2020 to sign up for its more expensive DSL
Direct plans ($23.99 to $38.99.) We reached a sales rep who said he knew
nothing about any such plans and transferred us to 1-800-264-0002.
As first reported by hearusnow.org on the Consumers Union website, AT&T is
asking callers seeking naked DSL to provide their AT&T landline phone number.
We were asked three times.
But consumers who want naked DSL won't have a landline — and don't want one.
That's why they want naked.
"They want to sell you a phone line," Thomason said after her experience.
She says after nearly a day, she finally connected with a sales rep who signed
her up for AT&T's $28.99 Direct Pro DSL plan. Service started this week, and
she's delighted.
But she chides the company for making it so hard: "They do a good job of hiding
it."
We called AT&T's Shaw, who responded:
"I apologize. We want everyone who calls in to be a customer. The vast majority
of these orders work. Sometimes we make a mistake, and we try to fix it."
msorkin@post-dispatch.com | 314-340-8347
It’s a real chore to find the unbundled DSL price that’s advertised, but here is the direct link.
http://attsignup.com/att_dsl_for_$10.htm
This has to be one of the cheaper radar detectors I've seen, which is great. However, several of my mechanic friends have told me that radar detectors fall under the category of "you get what you pay for". I drive like an 80yo woman to avoid moving violations, but if I were to invest in a radar detector, I've been told that multi-directional systems are the best. Fortunately, my donations to my local Police force have yielded a nice collection of PBA cards for less than what one of those fancy radar detectors would cost :)
@Kelja: I think you'd find that our views on what inflation is are very much the same. That doesn't mean, though, that gold is always a good buy. (Like anything, whether it's a good buy depends entirely on the price you can buy it at.) It was a great buy when it was under $300. (I bought some.) Whether it will turn out to be a good buy at $900 is something that we'll only know after the fact. (I wrote a bit about Gold as an investment a while back.)
@Guest: Tax policies like the one you suggest might reduce the risk of a recession, giving the Fed more room to rein in money supply growth. (Of course, changes in tax policy don't affect the money supply, so they won't have an effect on inflation all by themselves. They might have an effect on prices, though, making the whole thing rather fraught.)
Not all increases in price are inflation. Inflation is when the money becomes less valuable. That tends to show up as higher prices, but it isn't the only thing that shows up as higher prices--prices can change for a lot of different reasons.
For the same reason, it's a mistake to say, "Well, prices aren't going up so inflation must be under control." That the thinking that got the Fed into its current predicament. The inflation that we're seeing now is largely a result of increases in the money supply a year or two ago. But applying the necessary correction now would turn a possible mild recession into a certain and severe one--the Fed is never going to do that on purpose. But the Fed missed it when it might have been possible to avert the problem, because prices were held down by globalization (among other things).
One way to avoid increasing the money supply, but still maintain consumer confidence and demand, is to cut taxes at the lower income brackets, and raise them at the upper income brackets. (Delaying that AMT tax relief for a couple years, and let inflation push more people into that bracket.) Cut sales taxes, and apply a property tax temporarily on assets over some fairly large amount. Help people to pay down long-term debt - institutions will have more cash for investment. Working and middle class people will catch up to the rich and ultra-rich.
Thanks for your blog. I, too, have been living large on a small budget (and now I'm fashionably "green" for doing it.)
I finally can share something. I've written a few books, but my most recent project was a fun community cookbook/oral history/nostalgic photo book I did for a small village in upstate New York. (Sackets Harbor) I'm posting the recipes and the blog is all about how to write a community cookbook.
I want to pass on what I've learned--and not learned--to anyone else thinking about it.
So, check it out http://www.deebuckingham.blogspot.com and it is FREE!
Dee Buckingham
The public is ignorant when it comes to economics. So are the pundits & politicians. INFLATION is increasing MONEY SUPPLY! As more dollars chase the same or fewer services and products, price will naturally increase. An easy example of this is the price of a college education. Easy to get loans & grants caused the price of tuition to spiral ever higher. Along with tuition, wages paid to college presidents and administrators have skyrocketed to obscene levels. Now think just a moment what tuition would be or could be if everyone had to pay out of pocket.
And what do you think our fine central bank officials are doing right now. They are attempting to inject more cash into the economy than has ever been attempted before - before its over, trillions. They are doing this because systemic problems threaten to bring the economy, the world economy, to its knees. The massive injection of paper money into the economy will cause - is causing inflation that will be much worse than most anticipate. Hyperinflation is a possibility, although slim. (My wife complained yesterday about the prices at the Grocery store. Said the cheapest apples were priced at $2.75 lb.)
Some, although few, politicians recognize some of this. For instance, Julianni proposes changing the capital gains tax to something indexed to inflation. If you invested $100 10 years ago and now that investment is worth $200 - NO ITS NOT. Inflation, even at the low levels we've enjoyed over that time has made the dollar worth half as much. That $200 buys you what $100 bought 10 years ago - or less.
Unfortunately, like I said, our politicians by and large, cannot wrap their minds around the inflation problem. Perhaps too busy running for office. In any event, we elect those most like us.
There is one guy who understands, and he doesn't stand a ghost of a chance because people don't think. It's Ron Paul (and before you shut down, read what he said):
“Inflation is immoral,” said Congressman Ron Paul when we sat down with him a few months ago.
“It’s immoral in the sense because it steals, it steals value. If you double the money supply and your prices go up twice as much, it’s an invisible hidden tax. But the real immorality here is that some people pay higher prices than others. So if you’re in a middle class or especially in low middle income, your prices might be going up 15% a year...and somebody on Wall Street might be working leverage buyouts and making billions of dollars and they don’t have to worry about the rising costs of living.
“This to me is an immoral act that is prohibited by the constitution and the outcome is always tragic.”
As far as gold, it's protection, it's insurance, it's real money for the last 6000 years, and it will never go to zero. I've been investing in and talking about gold since 2001. Back then it was $250 an oz.. It recently went over $900. That's a 260% increase in the investment. Not bad and better than anything else.
If you look at periods of inflation historically, often it results in the lower and middle classes playing a little income catch-up with the wealthy, so it can be a good thing for a lot of people. Why do you think Wall Street hates it so much? They don't want wages rising. However, with inflation triggered by high energy prices you can get stagflation, stagnant wages and rising prices, a very bad situation and what we are likely seeing now.
Another thing about folks who weren't cognizant in the 1970s is electronics have helped make inflation less important than it used to be. While housing, gas, postage stamps, and wages have gone up, food really hasn't (until recently) and electronics have plummeted. Buying electronics now before they get more expensive, just doesn't make sense. And nowadays that applies to more and more aspects of life: TV, videos, music, phones, typewriters (computers). And the expensive part (phone service, monthly cable and internet fees) can't be bought ahead of time.
I believe for my 30+ years of employment, I've always been paid every other Friday, works out fine. They're automatically deposited to my checking account. I have a chunk automatically deposited to my 401K. I do my best not to take any out cash these days unless I have to, rarely use a charge card, and pretty much have the same boring but effective routine. For groceries I use a debit card and buy pretty much the same things. I try to go mostly paperless bill-wise and pay each as I get the email alerts; I realy like this, I pay them online from my checking account whenever possible. The second check in the month is very specifically for the mortage, and I'm trying to pay an extra $200 per month on that and would love to double it. As I said, boring, but this works well for me. I should be putting more into my savings account but got spurred to pay down the mortgage a few years ago, which I feel very good about doing. I've already managed to knock a few years off that, which makes me feel great. My "fun" money that I do allow myself a bit of goes for stuff at thrift stores, but I've gotten highly selective about what I buy. Most of the time, I don't care so much about shopping, must be getting old, ha-ha.
Changes to taxes and government spending won't affect inflation (which is the money becoming less valuable), but they will affect prices--which makes it pretty hard to tell the difference, at least until long after the fact.
But there are two big problems with the instruments for increasing and reducing inflation (the instruments that change interest rates and the money supply):
First, they do other things, too. Raising interest rates doesn't just reduce the inflation rate. It also raises the value of the dollar (hurting exporters) and it generally reduces economic activity (hurting all businesses). Further, it hurts people who owe money with a variable interest rate, especially those who are owed money with a fixed interest rate.
Second, the economy isn't static. I's full of actors who respond to central bank activity by doing things--often things that magnify or minimize the effects of central bank activity. So, when the central bank is raising rates, there will be borrowers out there trying to get long-term, fixed-rate loans fighting it out with lenders trying to only make short-term or variable-rate loans. To the extent that either influence prevails over what would happen if things were stable, the economy suffers.
However unlikely hyperinflation is (and I think it's pretty unlikely), I don't think you can ever dismiss it as a possibility, especially when inflation is rising at the same time recession already threatens.
I wouldn't exactly say the centrals banks way of controlling inflation are blunt. Inflation can be controlled through fiscal and monetary policy through things like: changing interest rates, changing taxes, manipulating the supply of money.
There is absolutely no need to worry about hyper inflation in the united states, if anything deflation will take place
Thank you for your feedback and shared experience!
I have indeed tried my hand at the "do it yourself" will kits, and found that the language wasn't quite the same as the professional will my lawyer drafted. There were a few clauses that were overlooked (that in fact will be covered in my next article on wills! Stay tuned...), that can make a big difference.
Also, I found that a simple Will & the two Powers of Attorney only cost me $200, so I'm sorry that your lawyer isn't competitive in that way. I too would balk at a $1,000 bill! Is there possibly a less expensive lawyer in your area that could address this? I do know that lawyer's fees have unbelievable ranges depending on the size and specialties of the firm.
I went into CVS tonight to fill a scrip and there was one little shelf of Christmas stuff left. 90 percent off! I bought 3 rolls of wrapping paper for 25-40 cents each, and 3 packages of candy canes for 10 cents a box.
I'm gonna make me some peppermint hot cocoa AND peppermint brownies. MMMM.
We bought some grown-up moonsand a couple years ago for placing our Chist candle in at church. The youth love it so much - we stand around moulding it and chatting.
I'll be making up the full 25kg bag for our next young people's convention.
Many thanks!
I didn't know that stuff was called oobleck. It is pretty cool because you can swirl it in your hand and it feels all solid and then goes back to being a liquid when you stop moving it.
I guess this is the year-2007 equivalent of the late '80s story about the candidate who wore a Walkman and headphones, and told the interviewer "Go ahead, I can hear you over my music."
A friend in Santa Clara was interviewing a young man for an entry-level position. As they were talking, the young man's phone rang. He checked the display and started texting a reply while the manager was talking. She decided to give him the benefit of the doubt: "Is everything okay? Is there some kind of emergency?"
"Oh no everything's cool. Go ahead," he replied, still tapping away.
She told him "You know what - why don't we reschedule for another time. I'll call you," and ushered him out the door.
I were a bandana everyday, because I have dreadlocks, which are too long to leave hanging down, but to short to tie up, so I tie a bandana under them, how ever I fold the bandana in half along the diagonal..
Thanks Nora, for the reminder. I agree with just about everything you wrote, and would agree that final requests delayed, are final requests denied.
The only point where my personal opinion differs is about the "professional" assistance... (and even then, I'm not at all sure of how I feel about it).
Here's the thing... in the area where I live, a simple will looks to cost about $1,000. While I appreciate the expertise required in somewhat complex wills and testaments, after looking over the software that is now available for under $50, it surely seems that a straightforward "do it yourself will" can work for many people. The extensive Q & A's provided, cover the most common situations, and, provide guidance on those cases where there are complex financial structures and "webs" of more sophisticated tax issues involved.
After going thru a complete doityourself program, I developed an "update" to my professionally prepared will from some years ago, and then compared it to the lawyers document. I am not a lawyer, but after comparing the two wills, It surely looks as if they are essentially the same. (the computer program updated some wording to comply with recent laws).
So, here's a thought. By "doing" your own will, you get more involved in picking up the pieces that an individual lawyer might miss. (I found the questions to cover more bases than my "personal lawyer" ever did, and while the final result was the same, I was exposed to more possibilities from the program... more things to consider, if my personal status were to change.)
I have not decided whether to change my current will by myself, using the computer program or to go back to a lawyer. (Like all frugaleers, I hate to part with money on stuff I can do myself). In any case, by going thru the details I certainly feel more aware of the variables, than I did when I had turned the project over to the professional.
Wonder if you've tried the "do it yourself" programs, and what you think of the breadth of issues that they cover.
The boiling water method is actually what I grew up with in China in the 80s. The hot showers are only available in these communal places. Now most homes have water heaters, but when I was young we boiled water with coal blocks. In the summer it's hot enough to just have cold showers and baths, though.
I've done this when in a foreign country that only had freezing water... boil some water (electric tea kettle, rice cooker, whatever you got) and throw it in a small basin with cold water to make some warm water and sponge bathe. When you need to get clean, you'll find a way!
I use a variation of the "automatic savings" plan. I don't like anyone automatically taking anything from my checking account, since it could lead to mistakes, bounced checks, and so forth (too many of my friends have been "double-dipped"). Instead, I funnel the money immediately. I'm fortunate enough to have direct deposit. After the employer-based 401K, 529c, etc. are taken out, I use direct-deposit to angle everything into three accounts. One emergency fund, one mortgage payment money-market fund (both with an on-line low-cost brokerage), and the usual checking account at a brick-and-mortar bank. That last one only amounts to a couple hundred dollars a week after everything is taken out, but it means my mortgage, emergency savings, retirement savings, and literally every long-term need is taken care of before I ever see the money. It's easy to be disciplined when you set things up automatically like this.
Oh, and I have a "dragon bank" for my spare change, too. What can I say? I like dragons better than pigs.. ;)
'Naked DSL': how to find and get the best price
By Michael Sorkin
ST. LOUIS POST-DISPATCH
Friday, Jan. 18 2008
Here's something you should know when you order DSL service from AT&T: The
company sells the same speed Internet service at $10, $15 and $20 per month.
— The $14.99 service is called Basic DSL and is the easiest to get. Anyone with
an AT&T landline phone can order it by phone or online.
— The $10 DSL service can be ordered only online, and hundreds of consumers
have had trouble signing up for this, the company's cheapest-ever DSL. AT&T
says it won't sell it to anyone who is already an AT&T Internet customer.
— The newest Internet service is called DSL Direct Basic and costs $19.95. It
can be ordered only through an AT&T call center, but some sales reps say they
have never heard of it.
There are four DSL Direct plans; the $19.95 version is the cheapest and
slowest. The Direct plans are the only ones AT&T will sell consumers without
AT&T landlines.
This type of service is known as "naked DSL."
Each DSL Direct plan costs at least $4 more per month than the same plan for
customers who have AT&T landline phones.
DSL users don't need a phone; Internet service works fine without one.
AT&T is free to charge the higher prices because Internet rates are unregulated.
As for the $10, $15 and $20 Internet plans described above, all are rated at
the same speed: up to 768 Kbps downstream. That's too slow for downloading
movies but may be fine for e-mailing or Internet surfing.
Why charge three prices for the same speed?
AT&T spokesman Andy Shaw says customers have different needs. It's not unusual,
he says, for companies to offer different customers different prices.
AT&T offered $10 DSL reluctantly. The company already was charging higher
prices for Internet service and had no incentive to offer it so cheaply.
As for naked DSL, AT&T wants to sell you as many services as possible:
landline, Internet, cell phone and video. That's called bundling. Naked lets
consumers avoid bundling by choosing only what they want.
But about a year ago, the Federal Communications Commission required AT&T to
offer the lower-cost services in exchange for approving its purchase of
BellSouth.
AT&T began quietly offering $10 DSL about midyear on its website. AT&T said it
would not provide a phone number or e-mail address for anyone needing help.
By the end of the year, the company also began offering naked DSL. It is
quickly gaining popularity with the growing number of computer users who have
traded landlines for cells.
The FCC is requiring AT&T to offer a naked DSL plan for less than $20. An AT&T
spokesman said last month that consumers shouldn't sign up for the $19.95
service online or by calling. He told them to go to company stores.
That advice turned out to be wrong, and Savvy received more than a dozen
complaints.
Mindy Lynn Thomason, a financial analyst from St. Charles, hurried to an AT&T
store, where "they told me I could only sign up by calling."
She called — and reached a sales rep who said he couldn't help her.
This week, AT&T's Shaw offered different advice: He said to sign up for the
$19.95 Direct Basic only through a company call center.
That $19.95 plan is AT&T's cheapest naked DSL service — and the only one for
which the company requires a 12-month contract. The other plans are
month-to-month.
AT&T's site says to call 1-800-288-2020 to sign up for its more expensive DSL
Direct plans ($23.99 to $38.99.) We reached a sales rep who said he knew
nothing about any such plans and transferred us to 1-800-264-0002.
As first reported by hearusnow.org on the Consumers Union website, AT&T is
asking callers seeking naked DSL to provide their AT&T landline phone number.
We were asked three times.
But consumers who want naked DSL won't have a landline — and don't want one.
That's why they want naked.
"They want to sell you a phone line," Thomason said after her experience.
She says after nearly a day, she finally connected with a sales rep who signed
her up for AT&T's $28.99 Direct Pro DSL plan. Service started this week, and
she's delighted.
But she chides the company for making it so hard: "They do a good job of hiding
it."
We called AT&T's Shaw, who responded:
"I apologize. We want everyone who calls in to be a customer. The vast majority
of these orders work. Sometimes we make a mistake, and we try to fix it."
msorkin@post-dispatch.com | 314-340-8347
It’s a real chore to find the unbundled DSL price that’s advertised, but here is the direct link.
http://attsignup.com/att_dsl_for_$10.htm
Paul-
This has to be one of the cheaper radar detectors I've seen, which is great. However, several of my mechanic friends have told me that radar detectors fall under the category of "you get what you pay for". I drive like an 80yo woman to avoid moving violations, but if I were to invest in a radar detector, I've been told that multi-directional systems are the best. Fortunately, my donations to my local Police force have yielded a nice collection of PBA cards for less than what one of those fancy radar detectors would cost :)
http://www.youtube.com/watch?v=TBQDGvhr3kE&feature=related
@Kelja: I think you'd find that our views on what inflation is are very much the same. That doesn't mean, though, that gold is always a good buy. (Like anything, whether it's a good buy depends entirely on the price you can buy it at.) It was a great buy when it was under $300. (I bought some.) Whether it will turn out to be a good buy at $900 is something that we'll only know after the fact. (I wrote a bit about Gold as an investment a while back.)
@Guest: Tax policies like the one you suggest might reduce the risk of a recession, giving the Fed more room to rein in money supply growth. (Of course, changes in tax policy don't affect the money supply, so they won't have an effect on inflation all by themselves. They might have an effect on prices, though, making the whole thing rather fraught.)
Not all increases in price are inflation. Inflation is when the money becomes less valuable. That tends to show up as higher prices, but it isn't the only thing that shows up as higher prices--prices can change for a lot of different reasons.
For the same reason, it's a mistake to say, "Well, prices aren't going up so inflation must be under control." That the thinking that got the Fed into its current predicament. The inflation that we're seeing now is largely a result of increases in the money supply a year or two ago. But applying the necessary correction now would turn a possible mild recession into a certain and severe one--the Fed is never going to do that on purpose. But the Fed missed it when it might have been possible to avert the problem, because prices were held down by globalization (among other things).
One way to avoid increasing the money supply, but still maintain consumer confidence and demand, is to cut taxes at the lower income brackets, and raise them at the upper income brackets. (Delaying that AMT tax relief for a couple years, and let inflation push more people into that bracket.) Cut sales taxes, and apply a property tax temporarily on assets over some fairly large amount. Help people to pay down long-term debt - institutions will have more cash for investment. Working and middle class people will catch up to the rich and ultra-rich.
Thanks for your blog. I, too, have been living large on a small budget (and now I'm fashionably "green" for doing it.)
I finally can share something. I've written a few books, but my most recent project was a fun community cookbook/oral history/nostalgic photo book I did for a small village in upstate New York. (Sackets Harbor) I'm posting the recipes and the blog is all about how to write a community cookbook.
I want to pass on what I've learned--and not learned--to anyone else thinking about it.
So, check it out http://www.deebuckingham.blogspot.com and it is FREE!
Dee Buckingham
The public is ignorant when it comes to economics. So are the pundits & politicians. INFLATION is increasing MONEY SUPPLY! As more dollars chase the same or fewer services and products, price will naturally increase. An easy example of this is the price of a college education. Easy to get loans & grants caused the price of tuition to spiral ever higher. Along with tuition, wages paid to college presidents and administrators have skyrocketed to obscene levels. Now think just a moment what tuition would be or could be if everyone had to pay out of pocket.
And what do you think our fine central bank officials are doing right now. They are attempting to inject more cash into the economy than has ever been attempted before - before its over, trillions. They are doing this because systemic problems threaten to bring the economy, the world economy, to its knees. The massive injection of paper money into the economy will cause - is causing inflation that will be much worse than most anticipate. Hyperinflation is a possibility, although slim. (My wife complained yesterday about the prices at the Grocery store. Said the cheapest apples were priced at $2.75 lb.)
Some, although few, politicians recognize some of this. For instance, Julianni proposes changing the capital gains tax to something indexed to inflation. If you invested $100 10 years ago and now that investment is worth $200 - NO ITS NOT. Inflation, even at the low levels we've enjoyed over that time has made the dollar worth half as much. That $200 buys you what $100 bought 10 years ago - or less.
Unfortunately, like I said, our politicians by and large, cannot wrap their minds around the inflation problem. Perhaps too busy running for office. In any event, we elect those most like us.
There is one guy who understands, and he doesn't stand a ghost of a chance because people don't think. It's Ron Paul (and before you shut down, read what he said):
“Inflation is immoral,” said Congressman Ron Paul when we sat down with him a few months ago.
“It’s immoral in the sense because it steals, it steals value. If you double the money supply and your prices go up twice as much, it’s an invisible hidden tax. But the real immorality here is that some people pay higher prices than others. So if you’re in a middle class or especially in low middle income, your prices might be going up 15% a year...and somebody on Wall Street might be working leverage buyouts and making billions of dollars and they don’t have to worry about the rising costs of living.
“This to me is an immoral act that is prohibited by the constitution and the outcome is always tragic.”
As far as gold, it's protection, it's insurance, it's real money for the last 6000 years, and it will never go to zero. I've been investing in and talking about gold since 2001. Back then it was $250 an oz.. It recently went over $900. That's a 260% increase in the investment. Not bad and better than anything else.
Sorry about my 2 cents running so long.
If you look at periods of inflation historically, often it results in the lower and middle classes playing a little income catch-up with the wealthy, so it can be a good thing for a lot of people. Why do you think Wall Street hates it so much? They don't want wages rising. However, with inflation triggered by high energy prices you can get stagflation, stagnant wages and rising prices, a very bad situation and what we are likely seeing now.
Another thing about folks who weren't cognizant in the 1970s is electronics have helped make inflation less important than it used to be. While housing, gas, postage stamps, and wages have gone up, food really hasn't (until recently) and electronics have plummeted. Buying electronics now before they get more expensive, just doesn't make sense. And nowadays that applies to more and more aspects of life: TV, videos, music, phones, typewriters (computers). And the expensive part (phone service, monthly cable and internet fees) can't be bought ahead of time.
I believe for my 30+ years of employment, I've always been paid every other Friday, works out fine. They're automatically deposited to my checking account. I have a chunk automatically deposited to my 401K. I do my best not to take any out cash these days unless I have to, rarely use a charge card, and pretty much have the same boring but effective routine. For groceries I use a debit card and buy pretty much the same things. I try to go mostly paperless bill-wise and pay each as I get the email alerts; I realy like this, I pay them online from my checking account whenever possible. The second check in the month is very specifically for the mortage, and I'm trying to pay an extra $200 per month on that and would love to double it. As I said, boring, but this works well for me. I should be putting more into my savings account but got spurred to pay down the mortgage a few years ago, which I feel very good about doing. I've already managed to knock a few years off that, which makes me feel great. My "fun" money that I do allow myself a bit of goes for stuff at thrift stores, but I've gotten highly selective about what I buy. Most of the time, I don't care so much about shopping, must be getting old, ha-ha.
Changes to taxes and government spending won't affect inflation (which is the money becoming less valuable), but they will affect prices--which makes it pretty hard to tell the difference, at least until long after the fact.
But there are two big problems with the instruments for increasing and reducing inflation (the instruments that change interest rates and the money supply):
First, they do other things, too. Raising interest rates doesn't just reduce the inflation rate. It also raises the value of the dollar (hurting exporters) and it generally reduces economic activity (hurting all businesses). Further, it hurts people who owe money with a variable interest rate, especially those who are owed money with a fixed interest rate.
Second, the economy isn't static. I's full of actors who respond to central bank activity by doing things--often things that magnify or minimize the effects of central bank activity. So, when the central bank is raising rates, there will be borrowers out there trying to get long-term, fixed-rate loans fighting it out with lenders trying to only make short-term or variable-rate loans. To the extent that either influence prevails over what would happen if things were stable, the economy suffers.
However unlikely hyperinflation is (and I think it's pretty unlikely), I don't think you can ever dismiss it as a possibility, especially when inflation is rising at the same time recession already threatens.
I wouldn't exactly say the centrals banks way of controlling inflation are blunt. Inflation can be controlled through fiscal and monetary policy through things like: changing interest rates, changing taxes, manipulating the supply of money.
There is absolutely no need to worry about hyper inflation in the united states, if anything deflation will take place
Thank you for your feedback and shared experience!
I have indeed tried my hand at the "do it yourself" will kits, and found that the language wasn't quite the same as the professional will my lawyer drafted. There were a few clauses that were overlooked (that in fact will be covered in my next article on wills! Stay tuned...), that can make a big difference.
Also, I found that a simple Will & the two Powers of Attorney only cost me $200, so I'm sorry that your lawyer isn't competitive in that way. I too would balk at a $1,000 bill! Is there possibly a less expensive lawyer in your area that could address this? I do know that lawyer's fees have unbelievable ranges depending on the size and specialties of the firm.
I went into CVS tonight to fill a scrip and there was one little shelf of Christmas stuff left. 90 percent off! I bought 3 rolls of wrapping paper for 25-40 cents each, and 3 packages of candy canes for 10 cents a box.
I'm gonna make me some peppermint hot cocoa AND peppermint brownies. MMMM.
We bought some grown-up moonsand a couple years ago for placing our Chist candle in at church. The youth love it so much - we stand around moulding it and chatting.
I'll be making up the full 25kg bag for our next young people's convention.
Many thanks!
I didn't know that stuff was called oobleck. It is pretty cool because you can swirl it in your hand and it feels all solid and then goes back to being a liquid when you stop moving it.
Thanks for the great post. I have been asking this same question for some time. Now back to my work so I can "die on schedule"... ;-)
I guess this is the year-2007 equivalent of the late '80s story about the candidate who wore a Walkman and headphones, and told the interviewer "Go ahead, I can hear you over my music."
A friend in Santa Clara was interviewing a young man for an entry-level position. As they were talking, the young man's phone rang. He checked the display and started texting a reply while the manager was talking. She decided to give him the benefit of the doubt: "Is everything okay? Is there some kind of emergency?"
"Oh no everything's cool. Go ahead," he replied, still tapping away.
She told him "You know what - why don't we reschedule for another time. I'll call you," and ushered him out the door.
I were a bandana everyday, because I have dreadlocks, which are too long to leave hanging down, but to short to tie up, so I tie a bandana under them, how ever I fold the bandana in half along the diagonal..
Thanks Nora, for the reminder. I agree with just about everything you wrote, and would agree that final requests delayed, are final requests denied.
The only point where my personal opinion differs is about the "professional" assistance... (and even then, I'm not at all sure of how I feel about it).
Here's the thing... in the area where I live, a simple will looks to cost about $1,000. While I appreciate the expertise required in somewhat complex wills and testaments, after looking over the software that is now available for under $50, it surely seems that a straightforward "do it yourself will" can work for many people. The extensive Q & A's provided, cover the most common situations, and, provide guidance on those cases where there are complex financial structures and "webs" of more sophisticated tax issues involved.
After going thru a complete doityourself program, I developed an "update" to my professionally prepared will from some years ago, and then compared it to the lawyers document. I am not a lawyer, but after comparing the two wills, It surely looks as if they are essentially the same. (the computer program updated some wording to comply with recent laws).
So, here's a thought. By "doing" your own will, you get more involved in picking up the pieces that an individual lawyer might miss. (I found the questions to cover more bases than my "personal lawyer" ever did, and while the final result was the same, I was exposed to more possibilities from the program... more things to consider, if my personal status were to change.)
I have not decided whether to change my current will by myself, using the computer program or to go back to a lawyer. (Like all frugaleers, I hate to part with money on stuff I can do myself). In any case, by going thru the details I certainly feel more aware of the variables, than I did when I had turned the project over to the professional.
Wonder if you've tried the "do it yourself" programs, and what you think of the breadth of issues that they cover.
my opinion only
The boiling water method is actually what I grew up with in China in the 80s. The hot showers are only available in these communal places. Now most homes have water heaters, but when I was young we boiled water with coal blocks. In the summer it's hot enough to just have cold showers and baths, though.
I've done this when in a foreign country that only had freezing water... boil some water (electric tea kettle, rice cooker, whatever you got) and throw it in a small basin with cold water to make some warm water and sponge bathe. When you need to get clean, you'll find a way!
You are right! that's not a yak! It is still pretty cute though. I edit my article to state "smelled like heilan coo!"
I use a variation of the "automatic savings" plan. I don't like anyone automatically taking anything from my checking account, since it could lead to mistakes, bounced checks, and so forth (too many of my friends have been "double-dipped"). Instead, I funnel the money immediately. I'm fortunate enough to have direct deposit. After the employer-based 401K, 529c, etc. are taken out, I use direct-deposit to angle everything into three accounts. One emergency fund, one mortgage payment money-market fund (both with an on-line low-cost brokerage), and the usual checking account at a brick-and-mortar bank. That last one only amounts to a couple hundred dollars a week after everything is taken out, but it means my mortgage, emergency savings, retirement savings, and literally every long-term need is taken care of before I ever see the money. It's easy to be disciplined when you set things up automatically like this.
Oh, and I have a "dragon bank" for my spare change, too. What can I say? I like dragons better than pigs.. ;)