Even more on the phenomenon known as Bit Coins.
Adam Davidison's pro Airline fee rant at the beginning of this Planet Money podcast (which you really should listen to the whole thing) is exactly how I feel on the matter. If I don't have to pay as much for a ticket because airline's withhold free things such as a meal, reserved seat or checked luggage (just as long as if I really want it I can still pay for it) then I am all for it.
I largely agree with Bloomberg (editorial not the mayor) that though debit fees do seem rather high the answer is not to regulate. It is the business community that should band together to bring down the fees and if that proves not to be possible then Anti-Trust laws should be used not regulation. Personally I think this is the perfect opening for the US government to start offering a basic checking account to US citizens and provide free terminals to qualifying merchants. I would assume the savings from less currency in circulation and benefits to the IRS (I would assume the IRS would have some reporting tools built into the system not to mention the ability to withdraw and deposit tax directly from the accounts) would defray most of the cost. Of course that is never going to happen. In light of that I would encourage the Federal government to encourage things such as Square.
Saudi Arabia is currently trying to stop a global recession, pacify it's people and fund a cold war against Iran. Color me skeptical.
India loses a whopping 1/3rd of it's power production to thieves and inefficiency. Oh and that's equal to 1.2% of GDP.
People will always try to get high, and the US government is foolish for trying to stop them. That last part was my opinion.
Great profile on Turkey in last weeks Businessweek. Oh and if you want to buy me a subscription, please do so.
Adam Davidison's pro Airline fee rant at the beginning of this Planet Money podcast (which you really should listen to the whole thing) is exactly how I feel on the matter. If I don't have to pay as much for a ticket because airline's withhold free things such as a meal, reserved seat or checked luggage (just as long as if I really want it I can still pay for it) then I am all for it.
I largely agree with Bloomberg (editorial not the mayor) that though debit fees do seem rather high the answer is not to regulate. It is the business community that should band together to bring down the fees and if that proves not to be possible then Anti-Trust laws should be used not regulation. Personally I think this is the perfect opening for the US government to start offering a basic checking account to US citizens and provide free terminals to qualifying merchants. I would assume the savings from less currency in circulation and benefits to the IRS (I would assume the IRS would have some reporting tools built into the system not to mention the ability to withdraw and deposit tax directly from the accounts) would defray most of the cost. Of course that is never going to happen. In light of that I would encourage the Federal government to encourage things such as Square.
Saudi Arabia is currently trying to stop a global recession, pacify it's people and fund a cold war against Iran. Color me skeptical.
India loses a whopping 1/3rd of it's power production to thieves and inefficiency. Oh and that's equal to 1.2% of GDP.
People will always try to get high, and the US government is foolish for trying to stop them. That last part was my opinion.
Great profile on Turkey in last weeks Businessweek. Oh and if you want to buy me a subscription, please do so.
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