This is going to hurt you more than it’s going to hurt me…

From our Commander In Chief about the recent increases in tariffs for Chinese products…

“Our country can take in $120 billion a year in tariffs, paid for mostly by China, by the way, not by us,” he said. “A lot of people try to steer it in a different direction. It’s really paid — ultimately, it’s paid for by — largely, by China.

Either he’s an incredibly incompetent businessman who has no idea how businesses (or tariffs, for that matter) work, or…???

Anybody who thinks *American* businesses who pay the increased tariffs *won’t* turn around and increase their prices to *consumers* is living in a dreamworld.

via MarketWatch

more on the FDIC in the media

fdic sign
I continue to see somewhat misleading wording about FDIC insurance in media everywhere: newspapers, magazines, TV, web sites, and it really really bugs me. Compare what typical newspapers and TV news state: “the FDIC insures bank accounts up to $100,000” with what FDIC’s own signage says: “Each depositor insured to at least $100,000″ (emphasis mine). See the difference?

As I pointed out in my last article, it’s relatively easy to structure accounts so that an individual is insured by the FDIC for one or more accounts totalling over $100,000 at a single bank.

I’m begging everyone in the media. All you have to do is make one minor change when you’re talking about how FDIC insurance works. Please stop fanning the flame! There’s enough panic as it is without you fueling the fire!