Another TBB post featuring the most eclectic links around the web such as higher credit card debt, Americans retiring abroad, awesome Michigan national parks, the United Miles devaluation is now complete, USA and China derisking rather than decoupling, AI mania, FTX’s Caroline enigma, May 2023 Ponzi scheme roundup, sushi obsession and podcast about the Virginia Tech shooting, airships and train stations turned into hotels and the most important developments in the crazy frequent flyer miles and bank points world. Thank you for reading and have a great weekend!
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PERSONAL FINANCE
Let’s all exhale with the inane debt ceiling crap…until we do it again in a few years smh.
Americans love spending. And charging on their credit cards! The pandemic helped lighten the load but it did not last long, sadly. Americans owe $1 Trillion in credit card debt. If this is you, PLEASE focus on paying ALL your credit card debt. ASAP. You can not get ahead while paying all this interest to the banks!
Some really sad stats:
The average interest rate on a new card is 24 percent, the highest figure since the Reaganomics era.
A typical American household now carries $10,000 in credit card debt, by one estimate, another record.
Forty-six percent of cardholders carry debt from month to month, up from 39 percent a year ago, Bankrate reports.
The Wall Street Journal editors were always really good on getting regular people to come out and spill the beans on their finances. And it is always very interesting to see how different people handle money. In this article, Here’s What Retirement Looks Like for Americans Abroad, we get to see six retirees open up about how they went about it. Remember, we are all different and…I have to comment on a few things that just stood out!
Each month, they receive $4,300 from Social Security, about $5,000 from Jones’s military pension, and about $4,000 from a retirement account. They have no debt. [This couple lives in Paris. And having no debt in retirement is huge imho. Actually, having no debt rocks, the sooner the better!]
Vinson, now 58, and Crawley, now 67, had about $25,000 in credit-card debt and less than $50,000 saved in total for retirement at the time…They had a television in every room of their home and spent about $1,000 a month on meals out. [Say what? Anyway, they changed their ways and managed to pay off the debt and retired in Portugal. Where they still spend $2,600 in rent and dining out…]
You read all these different scenarios and you realize the importance of the Social Security benefit check coming in every month…
CHINA/AI/FTX/SCAMS
I am having some fun playing around with the Section titles…
Is it decoupling or derisking ahead? The U.S.-Chinese Economic Relationship Is Changing—But Not Vanishing. It will be interesting to see how this develops in the years ahead…
The strategy of de-risking aims to achieve three broad goals: limiting China’s abilities in strategic sectors that have national security implications, such as cutting-edge semiconductors and other advanced technologies; reducing Beijing’s leverage over the West by eroding Chinese dominance of the market for certain essential inputs, including critical minerals; and diversifying corporate economic exposure more broadly to reduce the potential costs of a sudden disruption in trade between China and the West.
AI just came out of nowhere and exploded. Isn’t it amazing how so many were into crypto and blockchain with .eth and laser eyes in their profiles…suddenly turned into AI evangelists overnight? Anyway, the bottom line is…we just don’t know what will happen with it. AI Hits “Mania’ Phase. I agree with the excerpt below:
None of this matters, of course, as long as the mania is in full swing and stocks are going up…
But if we learned nothing else during the SPACs, the crypto, the meme stocks, and whatever else fueled the market’s last run – you know, the one when stocks were the only place to put your money because rates were so low – it’s that when this stuff reverses, it’s always brutal.
There’s no question the latest iteration of AI is real – heck, as I did today I often use the free version OpenAI’s DALL-E via Bing to create the image on top of this essay. But crypto is also real, as is the blockchain, and whatever else drove the last bubble, including (I suppose) a meme stock or two..
This is a market that needed a catalyst. With rates where they are, the economy what it is and inventors as uncertain as they’ve ever been, along came ChatGPT.
Buckle up.
There is going to be a lot more coming out of the FTX crash. And we will learn more about Caroline who amazingly has managed to keep a super low profile among the billions that went through her. Caroline Ellison: How a young math whiz with an appetite for risk became a major player in Sam Bankman-Fried’s corrupt crypto empire. I am looking forward to it because, well, she is really something.
But while Ellison’s onetime boyfriend Bankman-Fried was out giving interviews after FTX’s astonishing collapse, Ellison—a woman one college friend described as so reserved and studious “she would marry her math homework if that was legal”—virtually disappeared. That is, until she resurfaced on Twitter in early December, in unverified photos taken at a New York coffee shop (accompanied by a former colleague whom a friend identified to Fortune as Ellison’s current boyfriend). About two weeks later, she pleaded guilty as part of a deal in which she agreed to help federal prosecutors build their case against Bankman-Fried.
And here is the May 2023 Ponzi Scheme Roundup. Ponzi scheme activity levels were higher this month with 16 new Ponzi schemes hitting the news. The new schemes involved over $200,000,000 of investor dollars. Over 33 years of prison sentences were imposed on Ponzi schemers. Lots of real estate related scams this month, be careful out there. And we always get the “guaranteed” return promises but, you know, when you get promises “as much as 1,544% returns per year” and you still give them your money…maybe you deserved to lose it all, WTF!
ODDZ & ENDZ
Remember the shocking Virginia Tech shooting? It was still early in the coming school mass shooting crisis we have been enduring for so long. I prefer listening to more upbeat podcasts in general and I must admit that I like listening to Murder In America and I learned a lot about it. Strong content, you have been warned.
VIRGINIA – The Virginia Tech School Shooting, PT. 1: Seung-Hui Cho
VIRGINIA – The Virginia Tech School Shooting, PT. 2: The Massacre
Kind of cool to learn about how sushi came to Los Angeles and the two interesting characters behind it all: How two friends sparked L.A.’s sushi obsession — and changed the way America eats.
TRAVEL
Come to Michigan! 6 Michigan National Parks and Sites to Visit for Stunning Landscapes and Fascinating History. We do love our parks here, they are amazing!
These are great: 6 Incredible Train Stations Turned Into Hotels.
Wait, what? Airships are back to clean up aviation. Will they take off? The low-carbon future of aviation could be powered by a relic from its past. The blimps are back. Who’s on board?
BUZZING
A section where I go on and on about some stuff that happens in my life and anything else that just does not fit in another section above.
The NBA Finals are here, no one will underestimate the Miami Heat ever again! I watched Game 1 last night, first time in a long time I managed to stay awake so late! Denver looks good…grab your popcorn, this is going to get wild.
Daughter is back from Paris and off to Seattle on Sunday to start her summer internship at Microsoft!
Ok, I have a lot to work on lol. She Ran 6,400 Miles Over 200 Days. Then She Cooled Off With a Marathon. How is this even possible, WOW!
Weather in Michigan right now is very hot! As in 90 F degrees and adapting to running in these temps is, well, not easy!
Thank you to the three readers who obtained a travel rewards credit card with my blog’s links in May. And to the few readers who used the Buy Me A Coffee link, especially to the reader who bought five at once. As long as this blog covers its costs it will keep on living trying to educate/entertain/inspire you all…I think. Enjoy it while it lasts…since November 2012, wow!
This blog started with a focus on miles and points and travel. It has evolved since then. Everything below deals with the hobby of collecting frequent flyer miles and points. If you are not interested, you can stop here, thank you.
MILES & POINTS NEWS/PROMOS/MY ACTION
So, our daughter is back from Paris after studying there for a semester. Both her and my wife got back from Paris flying Lufthansa booked with United miles via Frankfurt. As usual, their flights were on time and nothing remarkable happened, just German efficiency I guess. Sadly, the award ticket prices now have gone way up. And I am caught with about 300k United miles in our accounts. In other words, with my pants down, do not be like me!
I finally managed to burn some of my Radisson Rewards points at the Chicago Radisson Blu Aqua last weekend. And it was only 50,000 points per night. Which still leaves me with over 300k points. I guess those will be converted to half when this happens and I am cool with it. Choice Privileges & Radisson Rewards American Integration Update.
I guess this is back. Wyndham Rewards status match is back & it’s very generous. But to keep it more than three months you need to stay in a Wyndham hotel. I mean, don’t go out of your way to accomplish this, ok?
The author wonders how he made almost the exact post ten years ago: Inflation (Devaluations) in the Points & Miles World. The question is: Will a similar post be made ten years from now?
Bloggers will not stop until they kill all the remaining sweet spots: The Cheapest Way to Fly Business Class to Europe: Just 34K Points (Or Less!). Only do this if you can fairly predict the award you are looking at…will be there to book it pronto. Otherwise, you are taking the risk of having your rug pulled under you #warning.
You know, with the latest wave of devaluations, maybe we go for credit cards that earn at least 100k miles/points going forward? You know, to try to keep pace lol. The one business credit card offer that has been at 100k for a very long time is the Chase Ink Business Preferred card. Of course we got the card way back and did not keep. I am thinking maybe it is time to go for it again? 100K Points & A Low Annual Fee: A Full Review of the Chase Ink Business Preferred Card. Annual fee is $95 and you earn 3x on travel, shipping purchases, internet, cable, and phone service, and on advertising purchases made with social media sites and search engines. Primary car rental insurance coverage. You get to transfer to airline/hotel partners. And a bunch of other minor benefits you will likely never use. Not the greatest earning card…and this is why we did not keep it. But hey, as always, the juice is on the Signup Bonus points haul. Oh, you need to spend $15,000 in the first three months. And you should have a business…while there are numerous blogs out there wanting you to lie about having a real business! If you decide to go for it, please consider applying with my Credit Card links, thank you!
ADVANCED:
This was only a matter of time and I warned readers here to hurry up to book non Europe awards with United! OUCH! United’s Devaluation Continues: Saver Award Pricing Jumps To Central America, South America, Middle East, India, And More,
And wait, the final United miles chapter is here, the massacre is now complete, how sad! The Other Shoe Drops: United Saver Award Pricing Jumps To Asia, Australia, And The Rest Of The World; Updated Hidden Award Chart Pricing. I guess no more transferring Chase Ultimate Rewards points to United any more, they will be missed. Looking forward to get to know Aeroplan’s Air Canada program in the future…
Learn something new every day: How to Find Delta’s Partner Award Space (i.e. Booking Delta for Less). Which is certainly a contributing factor for keeping this hobby interesting after all these years…
Yikes, be careful out there, don’t do stupid shit!
MILES & POINTS
HOT CREDIT CARD OFFERS: 75k CAPITAL ONE Venture X, 75k CAPITAL ONE Venture Rewards, 75k CHASE Ink Business Cash, 75k CHASE Ink Business Unlimited, 100k CHASE Ink Business Preferred, 60K CITI Premier, 40k CAPITAL ONE VentureOne Rewards, $1,000 Cash Back CHASE Ink Business Premier, 140K CHASE IHG Rewards Premier, 60k CHASE Sapphire, 60k US BANK Business Altitude, 60k and 30% off on three Personal CHASE Southwest cards and many more, including many AmericanExpress cards such as Delta Airlines, Marriott Bonvoy and Hilton Honors cards! Please check out my Affiliate links. Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more. If you do not see a credit card with my affiliate links, perhaps I could refer you?
This section is about my hobby addiction of collecting frequent flyer miles and hotel points since the early 1990’s! SKIP if you are not into it!
As of today, I have burned 661,000 miles/points year to date in 2023 and have 4,224,803 miles/points in the bank. Some do drugs, I do miles lol!
Thanks to US banks, very lucrative travel rewards credit card offers come and go all the time. This section will act as a reference point on the best CURRENT offers. I will designate new material preceded by NEW.
TOP TRAVEL REWARDS SIGNUP BONUS CARDS
Master Guide to Credit Card Applications: All the Rules You Need to Know, Bank by Bank
How to Sign up for Chase Ink Cards
The Capital One Venture X card offers a 75,000 point Signup Bonus after a minimum spend of $4k in the first three months. If you like simplicity and looking for one (premium) card, I highly recommend this card (and yes, I have it myself!). It has an annual fee of $395 but it comes with a VERY easy $300 statement credit for travel booked on its excellent travel portal, essentially turning it into a $95 annual fee card. But wait…there is more! On each card anniversary you earn 10,000 points essentially making it FREE! Every dollar of spend earns 2 points and flights booked on the travel portal earn 5 points per dollar. You get access to Capital One and Plaza Premium airport lounges and a Priority Pass Select lounge membership and, this is important, you can add FOUR authorized users FOR FREE who can also have their own Priority Pass Select airline lounge membership. You can transfer your Capital One points to up to 18 Transfer Partners. No foreign transaction fees. Free Hertz President’s Circle rental car top elite status. Cell phone protection and PRIMARY rental car coverage. Awesome seats at baseball stadiums for just 5k points each. And lots more. Available with my Credit Card Links, thank you for your support!
Get 75K Miles, Lounge Access & More with the Capital One Venture X Card
Other worthy credit card deals going on:
Chase Southwest Personal Cards Bonus: 60,000 Points + 30% Flight Discount (Plus, Premier, Priority)
NEW: 100K Points & A Low Annual Fee: A Full Review of the Chase Ink Business Preferred Card
Remember, you are NOT allowed to ever carry a credit card balance if you ever get a credit card here!
Let me leave you with this:
Some of the links are behind a paywall. You can try to read them using Archive.is.
Thank you for reading my blog. If you enjoy it please pass it on to a family member or friend. Or Buy Me a Coffee, thank you!
TBB
travelbloggerbuzz@gmail.com
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Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Good morning!
Running a Ponzi with miles and points! Wow. I guess thinking you are cleverer than others makes you rather succestable to a Ponzi pitch.
Thanks for the links!
OMAAT had an article today about an english UEFA referee being harassed by ROMA fans in the Budapest airport. This article has to written by a ghost writer. No chance Ben has any knowledge about european futbol to be able to write this article. The percentage of ghost writer articles to Ben written articles has to be 75% to 25% these days.
Had my first-ever business class upgrade on AA yesterday. Not even a snack offered on the return flight, sad!
Fascinating read here: “A catatonic woman awakened after 20 years. Her story may change psychiatry. New research suggests that a subset of patients with psychiatric conditions such as schizophrenia may actually have autoimmune disease that attacks the brain.”
https://www.washingtonpost.com/wellness/2023/06/01/schizophrenia-autoimmune-lupus-psychiatry/
Dude, this one is already placed in the queue to appear at TBB! Are you trying to get a job here?
Correction: Unpaid 🙂
Will respond later on, going to Secretary of State office with daughter today…could be a while lol.
@ DML: There is a lot of such activity underground…I have advised people to Stay TF away.
@ RKToledo: I saw the headline and I had the same thought! Everything posted there…clicks well, you know, SEO stuff and I am sure he is looking at cutting costs that goes to ghost writers.
This blog here can not afford SEO consultants and paying for anything lol.
@ Nick: That article blew me away, it belonged here, great taste!
Running in 90 F degrees can be…dangerous!
Bloomberg’s podcast on SBF is pretty good “Spellcaster: The Fall of Sam Bankman-Fried.”Just wait a few weeks for each episode to be made available for freeeeeeee. Michael Lewis’ books should be out in October.
Virgin’s new award search is pretty good. And with 30% transfer bonus, pretty affordable to travel in coach on DL!
With Apple’s new headset, FB’s VR is pretty much dead. This will have a major negative impact on the reproductive rate of the upper middle class ($3.5k/device) since no reasonable woman will want to date a dude wearing a giant headset. It’s “cool” but seriously, only ChatGPT will make me a 10xer and I can get that for only $20/month.
Good observations, thanks.
Most interesting thing abt Apple’s announcement was…the word Metaverse was not mentioned even once.
Sent son a meme pic of Mark Z. all mad screaming at the team working on it with “Show me some f**king code” LOL.
I want to see Putin end up like Mussolini…bad!