Welcome to another edition of TBB’s 3 Links I Love. Which is almost always never three because we don’t like slacking around here. In this edition, we have five awesome links for you.
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The Economics of Churning: Who Pays For The Rewards?
You wondered about who pays for this hobby? I mean, playing the travel rewards credit card game. First, a huge thanks to Reddit member Buddy5000 for taking this on, very educational! The conclusion is that, in general, it is the cash customers who subsidize our rewards. Great info on how interchange and merchant fees work along with some bank economics and juicy info on the major banks. This line made me smile LOL:
What’s the worst case scenario for the Issuer?
Us. Absolutely.
Anthony Bourdain Has a Lot to Say About the Opioid Epidemic Destroying Small-Town America
This was a very interesting read coming from a former addict and fairly outspoken successful personality. Selected excerpts if you are lazy to read it which I agree with and as some haters say…”I have an agenda” lol.
Now that the white captain of the football team and his cheerleader girlfriend in small-town America are hooked on dope, maybe we’ll now stop demonizing heroin as a criminal problem and start dealing with it as the medical and public-health problem that it is, and should be.
I think the role of the artist is to make art.
It is truly a privilege to live by what I call the “no asshole” rule. I don’t do business with assholes. I don’t care how much money they are offering me, or what project. Life is too short. Quality of life is important. I’m fortunate to collaborate with a lot of people who I respect and like, and I’d like to keep it that way.
Calculation leads to compromise and badness. I just don’t care. I do my best. I do work that interests me that I will hopefully not feel ashamed of the next day. I like things to be strange and beautiful and, if and when possible, not done before. I’d rather fail gloriously and foolishly than turn in efficient and adequate work again and again. That’s just the way I am.
The True Story of the Fugitive Drug Smuggler Who Became an Environental Hero
There are some stories that you start reading and just can’t stop until you are finished. This was one of them. What a story, wow! This dude bails before he is sentenced for mega loads of marijuana smuggling and reinvents himself in northeast Australia. Blown.Away. Oh, and this is what quality writing IS! Enjoy it as much as I did.
The Oral History of President Barack Obama Playing Pickup Basketball
This is just great…
Reggie Love, Chris Paul, Don Cheadle, Arne Duncan and more share their favorite stories of playing basketball with beloved number 44.
I just can’t believe that our nation elected Donald Trump as our President! I am talking about the man, I don’t want to make this political. I get along with everyone, we all want what is best for our country. We need to come together and our kids need to look up and respect our President. Whatever you think of Obama, he is a decent human being with a wonderful family. As my 14 year old said yesterday “We are going to miss Obama, Trump is crazy!”
50 Phases to Run From
Well, here is a personal finance related link for you. You know, I like to talk in my blog about charlatans a lot. As in bloggers who continuously keep selling credit cards to their unsuspecting readers while promoting a lifestyle of “free” luxury travel, Krug anyone? But these are also what financial charlatans use too, enjoy!
…the majority of these terms and phrases are being employed in an effort to distract you from your long-term investment goals or to talk you out of what is likely a sound course of action.
Charlatan catchphrases and red flags
- Sunlight is the best disinfectant
- What the market doesn’t understand is…
- As you know…
- Inflection point
- There is a fundamental misunderstanding…
- “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
- “Textbook”
- The mother of all ____
- 1987
- Price discovery
- Picking up nickels in front of a steam roller
- Euphoria
- Party Like It’s ____
- “Druck says”
- The smart money
- Punishing savers
- It’s safe to assume…
- Next leg higher (lower)
- To be clear
- the greenback
- Hyperbolic
- TINA
- Window-dressing
- “Hussy”
- Generational
- Retracement
- Sucker’s rally
- Running on fumes
- Dr. Copper
- In yen terms
- Extreme readings
- Holding the bag
- Simultaneously calling for a crash and a melt-up
- Fiat currency
- Asset price inflation
- Rigged
- Detached from reality
- Manipulation
- I’m just early
- I’ve seen this movie before and I know how it ends
- Idiosyncratic risk
- “Spoos”
- Unless this time is different…
- “Flashing”
- Day of reckoning
- Pivot
- Bullish or bearish “of” instead of “on”
- Adopting a Shakespearean affectation while (whilst?) speaking
- anything Sun-Tzu
- Lehman.
And I leave you with this…
Check out my updated blog lists: Blogs I Love, Blogs I Like, Blogs To Ignore
TBB
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Good Sunday morning.
I’m pumping a book: “The Trump Era: Unhinged from Day One”. Actually I’m pumping the title — figure it’s good for a point or two.
Would like to add one line to your personal finance catchphrases: “if it were easy, everyone would be doing it”. Heard Thursday when being told the documents needed to dissolve a partnership and reform as Costa Rica’s version of an LLC were still in some kind of BS vortex.
Stuck in Paradise. Maybe I should just give a full power of attorney and head north? What could go wrong?
#TBBon
So many signs…
I am going to watch 3 games today and take it easy…Larisa game and the two NFL playoff games while resting my right hip still unhinged from two weeks ago #pain
Here.
I am here 24/7
TBB can you hear me?
Can you feel me near you?
I try to be here 5/24, unless I get pre approved.
I hope we’ll have some good (no blow outs) NFL games today.
Thanks for blogging.
Cheers,
PedroNY
That first line—–> Lol
Well, first game made me yawn, it was never in doubt!
Is my man sleeping in again?
Sure looks like it… #weekend
A little Sunday morning entertainment over on twitter as Boarding Area blogger Live and Let’s Fly elbows fellow BA blogger Lufthansa Flyer over a perceived HT slight.
Maybe at the next Flyer Talk U they’ll have a session “How to Hat Tip. Or not.”
Link?
And is L&LF the same guy who H/T’s Gary instead of Dan?
And when I say something in the numerous times this has happened…I get feedback calling me angry 🙂
Every interaction I have had with the LH Flyer guy has been top notch.
That L&LF dude, just when I had gotten over that UA ridiculous fit from some time ago and even linked a few of his posts here…and then goes and links his idol GL to a story so obviously NOT started with him and not HTing the proper source….having him bitch about HTing is like Hillary blaming everyone but herself for her monumental screw up to lose to Trump!
Re the Reddit churning piece, I will leave it to you to compare the interchange fees quoted with the 0.3% interchange fee now legally in force across Europe and which has not led to Visa or MC going bust. You can then decide who is ripping off who.
Trump could do worse than start with this if he really wants to improve things for Mr Average.
I have been saying that the US bank landscape will finally catch up to the rest of the world (and hurt us hackers AND bloggers big time). It is happening…but very slowly.
I did not expect better from this Trump dude, hang on everyone!
Day 3? Arent we supposed to start the goose stepping program? I thought every thing would have been destroyed by now. Why is he so late to start the whole facism thing? I thought this hitler thing would be shovel ready on day 1 ?
Hey, it is only Day 3!
Funny you mention fascism when the press secretary was in his own alternate world, hey nice start.
The thing that infuriated me was that…Alec Baldwin was nowhere to be found at SNL!
Amazing demonstration…would have loved to see Donald’s face.
Obama said “Elections have consequences”. So now we have to suffer the consequences. I want to see how long it will be before people having voted for Trump come off the bandwagon. You probably never will but you can surprise us by admitting that this guy is just too ridiculous and unfit to be President of the United States.
I would LOVE to eat my words and say I was wrong!
I am sick of Tom Brady too!
I’m willing to give the guy the opportunity to succeed or fail. I just dont buy the racism, fascist thing. He is certainly not my favorite person but all I know is that of the two choices for POTUS he was clearly the only one that you could vote for. And that says a lot.
https://twitter.com/liveandletsfly/status/823052686266368001
https://twitter.com/lufthansaflyer/status/823053018212028417
https://twitter.com/liveandletsfly/status/823115113989341184
Is there a better way to link tweets than this? I didn’t know how to do it at all. (HT-Google search).
Maybe Buzz can fill us in on LALF’s HT patterns.
Sam,
See my comment above replying about this issue.
Talk about being hypocritical
Funny that dude wrote a post today about Passport Index, a site I wrote about here months ago. So I trolled him with my comment about the missing HT lol.
Wow… chutzpah!
I like Josh Brown, though I legitimately have no idea why you’d run from someone that uses Spoos on a regular basis. It’s standard industry terminology. Though I guess in the interest of full disclosure I worked for #50 for a while. I’m hoping if I just use the # and not the actual word people won’t have to run from this comment.
Well if I read that correctly, we now know why ScottCastle is a Rock of consistency?
It’s a postcard kinda day in Paradise — not a cloud in the sky and I can see all four volcanoes clearly now. Might kinda miss the place if I ever get out of here…
Dick Fuld came out of hiding to back a, please sit down, a wealth management firm.
ScottCastle, it’s okay man. I know several who worked at Arthur Andersen. Good people were caught in unfortunate situations. But that guy was such a Dick 🙂
4 volcanoes?? Well, one of them may wake up so it is good to have an escape plan!
I live on the side of Poas which is kinda sorta active. Major tourii spot.
Only on good days can I see Turrialba — active, cause of falling ash leading to SJO closures.
Barva and Irazu are the other two (rhyming man!) — Barva is supposedly sleeping. Irazu also sleeping but was the source of several FEET of ash in ’62 or ’63 — just after JFK’s one and only visit here.
There, more than you ever wanted to know about GringoLoco’s view…
Cool!
Two pretty boring games.