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Economics Discuss Did anyone suppose that we would not notice? at the Political Forums; Originally Posted by saltwn well you'd be bowled over if you've been out awhile. As with most professions, it ain't ...

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Old 06-01-2018, 09:20 PM
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Default Re: Did anyone suppose that we would not notice?

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well you'd be bowled over if you've been out awhile. As with most professions, it ain't yer grandpa's store anymore
Care to elaborate?
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Old 06-01-2018, 11:57 PM
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Default Re: Did anyone suppose that we would not notice?

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Care to elaborate?
off the top of my head: Wells Fargo
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Old 06-02-2018, 09:12 AM
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Default Re: Did anyone suppose that we would not notice?

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off the top of my head: Wells Fargo
That's an elaboration?
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Old 06-02-2018, 09:28 AM
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Default Re: Did anyone suppose that we would not notice?

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That's an elaboration?
I will make a presumption here, and beleive she is trying to say that banks aren't what they used to be. The term 'Friendly Banker' is now an oxymoron.

Banks now are ALL about the profit, not helping people, businesses or the community. Unfortunately, there are fewer and fewer (extinct? IDK) small one building banks.

But as with any entity in the game for a profit, the quietly change the rules/product size without any hoopla. The area where I differ with salty is that IMO, it is STILL, and always should be, the responsibility of the consumer to know the current rules/size of the product they buy. Salty feels every word should be read and translated for the consumer, I guess believing they can't or don't bother to understand what they are getting involved in.
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Old 06-03-2018, 03:44 PM
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Default Re: Did anyone suppose that we would not notice?

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I thoroughly agree with you as concerning credit-card interest. (I have said previously that a credit card may charge 99 percent interest, for all I care, as I simply do not pay any interest, since I pay off my credit card in full each month.)

But I do consider it disingenuous--perhaps "sneaky" would be a better word for it--for banks to have changed APR to APY, when it suits them. Banks should not be in the business of attempting to snooker their customers.
Only the stupid people are being "snookered".
It happens everyday in every business, not just banking.
I've noticed that the ignorant people ask for government to protect them from the educated people when it comes to financial matters. Best that they should become educated themselves
@pjohns, have you seen the movie Idiocracy? Sadly, I think that is the direction that society is moving.
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Old 06-03-2018, 03:54 PM
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Default Re: Did anyone suppose that we would not notice?

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Originally Posted by GottaGo View Post
I will make a presumption here, and beleive she is trying to say that banks aren't what they used to be. The term 'Friendly Banker' is now an oxymoron.

Banks now are ALL about the profit, not helping people, businesses or the community. Unfortunately, there are fewer and fewer (extinct? IDK) small one building banks.

But as with any entity in the game for a profit, the quietly change the rules/product size without any hoopla. The area where I differ with salty is that IMO, it is STILL, and always should be, the responsibility of the consumer to know the current rules/size of the product they buy. Salty feels every word should be read and translated for the consumer, I guess believing they can't or don't bother to understand what they are getting involved in.
Every business is about profit. Failure to make a profit is the demise of every business. It actually requires satisfied customers to make a profit long term.

I do agree that the small home town bank is pretty much extinct and I miss that. They are gone because their customers left them.
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Old 06-03-2018, 08:50 PM
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Default Re: Did anyone suppose that we would not notice?

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Originally Posted by GottaGo View Post
I will make a presumption here, and beleive she is trying to say that banks aren't what they used to be. The term 'Friendly Banker' is now an oxymoron.

Banks now are ALL about the profit, not helping people, businesses or the community. Unfortunately, there are fewer and fewer (extinct? IDK) small one building banks.

But as with any entity in the game for a profit, the quietly change the rules/product size without any hoopla. The area where I differ with salty is that IMO, it is STILL, and always should be, the responsibility of the consumer to know the current rules/size of the product they buy. Salty feels every word should be read and translated for the consumer, I guess believing they can't or don't bother to understand what they are getting involved in.
Nope I agree consumer beware. Or once burned twice shy if you're the hard headed type.
I just haven't liked the turn banking has taken for a long while now. These tactics and policies have lead-I believe- to less individuals with cash savings investment than any time since the 30s; although we have had a booming economy -with a few huge bumps- since the 70s.
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Old 06-04-2018, 07:38 AM
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Default Re: Did anyone suppose that we would not notice?

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Nope I agree consumer beware. Or once burned twice shy if you're the hard headed type.
I just haven't liked the turn banking has taken for a long while now. These tactics and policies have lead-I believe- to less individuals with cash savings investment than any time since the 30s; although we have had a booming economy -with a few huge bumps- since the 70s.
The decline in savings is to low yields and a cultural shift to an entitlement mentality. Why save when credit cards are ubiquitous and bankruptcy is quick and easy?

It used to be there was a social stigma attached to not paying your debts now there are advertisements galore for companies to help you avoid repayment.
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Old 06-04-2018, 07:52 AM
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Default Re: Did anyone suppose that we would not notice?

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Every business is about profit. Failure to make a profit is the demise of every business. It actually requires satisfied customers to make a profit long term.

I do agree that the small home town bank is pretty much extinct and I miss that. They are gone because their customers left them.
Of course any business is about profit, but when grasping at it to the detriment of those that supply that profit, they are damaging themselves.

People really do shop with their feet.
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