10 Comments

  1. Unknown's avatar

    Ah, yes, the famous Creation of Adam, framed in the corner right up next to the larger Botticelli. That’s not a museum, lady, it’s someone’s apartment with prints on the wall. You probably aren’t supposed to be in there.

  2. Unknown's avatar

    One of my students was absolutely gobsmacked to find that when you borrow from a bank, you have to pay back more. How do you get to be 22 in today’s world without knowing that banks need to make money, too.

  3. Unknown's avatar

    Chak, perhaps this is how students end up with gigantic loans at the end of college. If you don’t learn “the magic of compounding” you later learn “the curse of compounding”.

  4. Unknown's avatar

    @zbicyclist I think most student loans are simple interest but your point is well made. The decades long advertising blitz to disguise credit (esp. credit cards) as fun and harmless is scandalous. Can’t spell usury without US.

  5. Unknown's avatar

    Consul: In Europe, the average credit-card fees that stores pay are around 0.3-0.4% of the total transaction amount. In the USA, it’s 2%, sometimes as much as 5%.

  6. Unknown's avatar

    @BoiseEd: Another datum for things being massively screwed up here. The fee is passed on to the user and becomes part of the compounding.

  7. Unknown's avatar

    Yeah, though relating the Falling Wallendas to Wal-Mart is a heck of a stretch.

    Growing up in Canada, I was confused for a while by Wal-Mart and Walgreens, since we had neither. Sorta surprised that with the consolidation that took place in the pharmacy biz, those two never teamed up!

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