Economic Stimulus Package

Ok, let me get one thing out of the way before I begin. I am opposed entirely to this notion, partly because I am a free market enonomist and partly because I can see right through the red tape in the government.

From a general standpoint this looks like a good idea right? True, but here is some history. The money you hold in your hand is worthless, look at what it says, “Backed by the full faith of the US Government”. It started when it was taken off the gold standard in 1971. All you hold in your hand is a piece of paper, fiat currency for a better term. The government can print as much money as it wants now, dumping it in as fast as it can print.

In simple economic terms, think of it this way. There are two variables, supply and demand. Supply is how much of something you have at a given time, demand is how many people want what is supplied. The more demand there is for supply, the more it shrinks to nothing. The more supply there is, the less people want of it, because there is so much supply floating around. Big and small companies deal with this all the time, hence why they try to find a nice median range to stick in.

That said, apply the same to the government printing money. If more and more money is printed (supply), the less people will want of it (demand). It will literally become worthless if there is too much of it. If you understand this concept, you are on solid ground.

Now back to the topic at hand: the Stimulus Package. Think this will work, applying what you just learned? Absolutely not and here is why. Throwing money at a problem will not fix the economic mess we are in. If anything, it will make it worse. You are once again bumping the supply factor out more to the point where the demand is less and less. Secondly, this is not going to create jobs or stimulate the economy. Why? This money is just going to places to try and bring it back into the black. The majority of it will not reach there though. Why? Greed. I can smell it written all over this package, literally it reaks of the odor.

If this was really a “stimulus package”, here is where it should go. It should be going to the local economies to help prop up the businesses there. Strong businesses mean a stong local economy. Stong businesses mean more money is flowing around to the various areas. Strong businesses also mean they can support more employees, hence they hire more people. See what I am saying?

Although the best piece of advice regarding this whole matter is… “The best stimulus to our economy is no stimulus at all.” I’ll explain this quote in my next post. In the meantime, what do you think about this? Anything you care to add, anything you need clarified? Comments are open.

Downloads will now be taxed

Yes, you heard me right. This makes me mad to no end. Why? Ugh, don’t even get me started….

First off, taxing the internet period is just dumb. Its virtually impossible to enforce, and even if it was able to be, you would have the masses to deal with.

Second, how in the world is this going to work? Is this going on your internet bill, or is it being footed directly to the businesses?

Thirdly, if the US government was really having a problem with money, they would be cutting things back like crazy, like any normal business would, and re-organizing on the inside. Oh, but wait. What about the stimulus package that is supposed to help? Is that not doing anything?

Really guys, this is not creative thinking at all. I expect better of you or I will boot you out of office on your next term.

Now I’m not trying to make this into a political post, but this just makes me mad.

What can we learn about this?

To apply to your personal finances, watch your spending. If you don’t have the money, don’t buy it. If it seems money is escaping through a hole, find the hole and plug it. Do not make it bigger or try to hide it. If it is a legitimate thing that needs to be cut off, cut it off.

What about business? If there is some expense that is draining your business, cut it off. Also look through your entire business to see if there are areas you can improve and save money on.

What about Technology? Simply put, trying to tax something like downloads is impossible to enforce, it only makes the masses mad at you.–budgetwoes,0,5520090.story

What do you think about this? You’ve heard my end, and I would love to hear yours. Lets get a conversation going around this. Did I mention this will be signed into Wisconsin law this Friday (2-20)?

Debit or Credit?

Which should I use? Which one is safer? Here are some tips for this Christmas season and in general…

1. What is a debit card?

A debit card is similar to a credit card. The only difference is that it is tied directly to your checking account instead of a credit line. That means if you make a purchase using your debit card, it would be similar to writing a check. The funds come out of your checking account, but you don’t have to wait 2-5 days for the purchase to show up in your records. Purchases made with debit cards show up on your bank statement typically within one hour to a day at maximum. Protection against unauthorized purchases made with a debit card is the same you would receive with a credit card.

2. What is a credit card?

A credit card is a line of credit available to you for purchases, similar to a home equity on a house. The credit card company/issuing bank will offer you a set limit when you first open up a credit card. They will also offer you a set interest rate on your card. But that is another post entirely…

Typically when you make a purchase with a credit card, it is to make sure the company you buy from doesn’t rip you off. If they do, you can have the funds sent back to you. It is also used for larger purchases that your checking/savings account might not have at the time of purchase.

3. Which should I use? Which is safer?

Good question. The final decision is up to you, but here are a couple tips to think about when making your next purchase.

  • Use your credit card if you are unsure of the company you are purchasing from. If they run away, you can get your funds back. If you used your debit card, those funds are taken from your checking account, which may not leave you enough cash for other expenses.
  • Use your debit card when making regular everyday purchases such as food, gas, clothes, etc. Stay away from using your credit card for these purchases if at all possible, unless it is an emergency.
  • Use your debit card in place of writing checks. It it much safer, not to mention faster, to use your debit card. Remember, when writing checks, all a thief needs is your account and bank number, which is on the bottom of every check.
  • Use your credit card when making large purchases. It is safer that way, but be sure to payoff that amount immediately.

A final thought. Think of your credit card as a large fluctuating checking account behind walls and armed guards. If anything happens to those funds, you will be able to get them back. Think of a debit card as your checking account. Whatever is in your checking account, that is the limit. Purchases are final, although granted you have the guards and the walls like the credit card, just don’t tempt fate to eat your checking account alive.

Disclaimer: This knowledge comes from being a teller at an international bank, and listening to other’s experiences. If you have any tips, I would be glad to include them. Comments are open.

How to write a Check

For those of you just getting into the banking world, or for those that need a refresher course, this article will show you how to write a check. Sounds good? Lets begin….

First off, this is a blank check:

In the “Pay to the order of” field, you will write who it will be payable to. Use a name, don’t ever write it out to cash. Doing that means that anyone can cash your check. So many times when I see people write a check out to another person, I see cash as the one who it is payable to. Bad habit, so when writing a check out, write it exactly to that person or business.

You will then write in today’s date in the “Date” field. Write in the day, for example “9-27-08” “September 27, 2008”, whatever day it might be when writing out the check. Do not write it for yesterday’s date, or tomorrow’s date (pre-date or post-date), as you might run into legal issues when your payee wants to redeem your check. You must fill in the date, you cannot leave it blank.

Underneath the payee’s name, which was filled out in the previous step, you will see a line. In that line you will write out in written form, the amount you are paying your “payee”. This is one of the most important parts of the check. You have to write out exactly how much you are paying, for example, “One Hundred dollars and no/100” “Twenty-five dollars and 72/100”. At the payees bank, the teller will redeem the check for whatever amount is written there, no matter what is written in the box you will fill in on the next step.

In the box you see on the right of the check, you will enter the numerical amount you are paying the payee, for example, “100.00” “25.72”.

The last step is to sign your name on the bottom right line of the check. This is another important part of the check. When you sign there, you make the check legally binding to the payee and allow them to redeem that check for the exact written amount.

Optional is filling out the “memo” line. Usually you can write what the purchase was for (for you to remember), or for a message to the payee.

Any thoughts? Any Questions? Lets get the ball rolling on this topic and create a discussion around it. I am looking forward to what you will say.

#91: New Financial Course, PR and New Media, and How I stole someone’s Identity

In Episode 91 you will learn about a new financial course I am coming out with. In Business you will actually witness a real life example of bad publicity and how new media can multiply the message very quickly. Technology delves into an important topic, “How safe is your personal information?”

The articles used in today’s show can be found at:

If you have any questions, comments, or ideas about anything mentioned during the show, or to give your two-cents on a topic, call our toll-free line at 1-866-TMP-2860.

#90: Can you not work and still get paid?, The Power of a Negative Image, and Website Flippers

In Episode #90 you will learn whether you can stop working and still get paid for Finances. For Business, you will learn the impact a negative image can have on your company. And for Technology, you will learn about a growing industry where people buy websites, fix them up, and then turn them around and sell them for a good passive income.

The articles used in today’s show can be found at: -Todd Cochrane on Alexa Rankings
Website Flipping Resources:

If you have any questions, comments, ideas, or need help:
Call 1-866-TMP-2860
E-mail me using the form found at
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Or leave a comment below…

#88: Current Economic Conditions, Why Most Businesses Fail, and Feedburner Hacked!

In Episode #88 you will learn about the current economic situation, as well as give you some homework. In Business I speak about why most businesses fail and how it is linked sometimes to hearing the dreaded “No”. In Technology I speak about the newly discovered flaw in Feedburner. Another hack to add to the archives I would say…

For Your Homework, head on out to #28: Taylor Marek Podcast #85

The articles used in today’s show can be found at:

If you have any questions, comments, or ideas about anything mentioned during the show, or to give your two-cents on a topic, call our toll-free line at 1-866-TMP-2860.

#87 Sponsored by GoDaddy: Economic Stimulus Checks, Lead the Pack, and New Media Expo 2008

This episode has been sponsored by GoDaddy. Get your piece of the Internet today and save 10% on your next order by using code POD11 or BLU11.

In today’s episode you will learn about the Economic Stimulus checks, and why I don’t think they will work. For Business, you will learn to lead the pack in your marketing ventures. And for Technology, you will hear about the long awaited New Media Expo that will be happening in August. I am attending and if you are going to be attending, let me know and we might be able to get a meetup going. Looking forward to seeing you there. Stay current on what is happening by staying tuned to the Podcast Brothers:

Looking on staying current on the NME conference schedule? Here’s the link:

The articles used in today’s show can be found at:

If you have any questions, comments, or ideas about anything mentioned during the show, or to give your two-cents on a topic, call our toll-free line at 1-866-TMP-2860.