A visible hand is about to beat that ass.

Parents always told me my economics classes will pay off.... it’s nice to finally reap what I sowed

This comment is gold. Unfortunately, the kid's allowance wasn't.

On second thought, that kid's stupid. He doesn't deserve gold. You do, though.

His delta income just went down guess he isn’t buying more candy anytime soo

How are you supposed to tear up the money with broken hands?

"A demon tore it up, so I want to stay in this jail cell"

I love it when ignorant people completely misunderstand concepts. The invisible hand just represents emergent properties of very complex systems. Do you know anything about evolution? Is there any oversight to how species evolve to adapt to their environment? Is it done purposefully? Economics behave exactly the same way, it is an interplay of demand and markets that exist with billions of actors and iterate incredibly quickly always converging towards solutions that serve the most the best.

Just let me make my monetary policy joke!

i learneded something today.

No one with even a basic understanding of how currency works wants deflation.

The more I read about Milton Friedman the more I hate him

No sadly not even r/wallstreetbets is this autistic lol

What kind of life pro tip is that?

America in a nutshell

Then yes, that would definitively fix Venezuela for sure.

The money is in the computers?

Computers don't hold money dingus. We need to burn down the internet.

What if you just went ahead and threw Venuzuela into the fire?

Well it’ll certainly do more good than socialism did.

Doesn't sound like you know what inflation really is.

Inflation can occur even if there is no increase in money.

Then show me one empirical case of massive inflation that isn't preceded by a massive increase in the money supply.

If the population has lost confidence/trust in the currency everyone wants to get rid of it, and the available amount of the currency will increase, which will cause unsustainable inflation even without a single unit of the currency is printed.

Inflation isn't about the total amount of money, but what the population value that money at.

But people don't just randomly stop valuing their money without a reason. And every time the public has lost their trust of their money on such a massive scale, it has been preceded by massive money creation. That's the catalyst that causes people to lose the trust in their money.

Again, if you disagree, show me a historical case.

This can also mean that more units of the currency in the economy doesn't have to equal inflation either, in cases where there's increasing demand for currency.

This can only happen in the short term. Value is determined by supply and demand. In the short term, expectations and trust will matter and may offset any supply changes. In the long term, massive changes in the supply will always have an effect.

You're also completely ignoring my thought experiment in the previous post that proves long term inflation without money printing impossible. If the money supply doesn't increase, then prices either need to stop increasing, or the will eventually surpass the entire money supply, which is impossible.

But lets be more specific with the thought experiment and look at Venezuela's current situation. A quick google search tells me that Venezuela's inflation rate is at 400.000%, and their money supply (M2) is currently at 36 billion VEF. If Venezuela were to completely stop their money creation today, and their prices continued to increase 4000-fold each year, then something that costs 1 VEF today would cost more than their entire money supply in 3 years (4000^3). This is not logically possible, and thus their current inflation would have to stop sometime before those 3 years.

Edit: I'm a bit unsure on the money supply number I found on Venezuela, but that's irrelevant. The argument remains true regardless of what the

https://m.youtube.com/watch?v=FEGOW2shFG4

Why nott the brave?

Any way for you to cut your costs? I'm stressing about my finances as well 😥

Found some places in my city that have a free food thing for students and young adults with mental struggles.....

Bill gates on average makes 100 bucks a second while hes sleeping

Bill gates on average makes 100 bucks a second while hes sleeping

No one is sending you anything, stop trying to emo-lure

Shred this, you little fucker.
::throws dime at head::

Yea I do remember when I was a little shit and I needed a smack on the ass everyone now and then.

Who do you hire to do the deed? A democrat or a republican?

Did you get it for free as a child?

Not really. I suppise it does teach you not to rely on your parents at all.

By buying things he later regrets spending the money on. Yeah, told him that little musical instrument wasn't worth 5 weeks of allowance.

glad you survived the 'abuse', bro

[deleted]

Yeah, I think allowances are a great way to teach kids the value of saving.

Give a kid $2 a week for doing their chores, let them spend it on whatever they want for a year.

Then when they ask for a new game or something just say "What happened to the $104 I gave you?"

Makes them reflect on all the small things that they didn't need and realize they should save their allowance for the next big thing they'll want.

Who said it was a good thing?

Well I mean, this was the 90s and we grew up lower middle class.

oh, my parents don’t make me feel guilty at all. It’s just my personality. They’ve sacrificed so much for me, especially when I was fighting an infectious chronic disease during my childhood. They still expect no repayment from me especially when they could be hundreds of thousands dollar richer

I think earning money from a real job is better than an allowance, because you value the money more based on how hard you worked to get it. If I see a milkshake that’s $8, I think ”ok is this really worth 1 hour of work?”

Plus I don’t think 10 year old me would have fully absorbed a lesson about personal finance. Hell, I’m 20 and personal finance bores me to tears. All I know is to save early for that car because I’m not making much on min. wage

So your parents made your neighbors give you an allowance instead. Shitty.

What kind of shitbird kid gets 25$?

I mean some kids are just assholes. ODD is a thing too.

"Let him"

/r/shitbird

I only murdered because everyone who influenced me ,so punish them not me!

Yeah pretty stupid reasoning if you ask me

I highly doubt the parent let the kid do this.

Lucky sod, I get nada because broke family student life.

Shiit. I'm 23 and have to give my dad 20 bucks every other week. Broke Dad Life

Where do I find parents like yours? If I wanted money I had to work, collect soda cans, scrap metal..something. Then I had to use my bike to bring the metal to the recycling place.

Lucky. I had to sell pot to have money in school.

I do property manager type work for my parents properties and get paid for that. I get to learn shit, and they don't have to pay for a guy to come out every time something minor needs to be fixed.

20 quid every other week

20 squid! 20 squid! Who the hell wants 20 squid every other week? What if you don't even like squid? Can you substitute it for octopus or mussels or something?

How are you still in uni at 23? Why are you relying on handouts? Get a fucking job, you're an adult.

That's like a week's worth of groceries and some extra

I'd cry if someone gave me $25 right now and I'm 22.

Yeah, and when my mom was a kid she made .25 an hour working at a store. The $5 I got a month as a kid is more like $15 or 20 now.

Inflation, man. It gets us all

My parents would give me 5 times my age per month, with the stipend that I had to save at least a quarter of it, and they had to approve of what I was buying before I could.

Yeah how dare that piece of shit have rich parents. He should have aborted himself the moment he got a big allowance.

Calm down little Donald T

What would you do with 25 dollars?

Yup. People who have never raised kids calling other people terrible parents.

At least your parents didn't put it out there for millions to see. A small town can feel like "everyone in the world" but it's not. Reddit is huge.

I'm 29 and I regret dumb things I did last year.

At least I learn from it though.

Not every, but either there are many bad parents, or many kids with some mental disability. Which is more likely?

Drugs

also a kid can have literally nothing “wrong” with them and still misbehave, that is completely normal. As much as reddit wants to deny it, misbehaving is literally part of being a child to a certain extent. Kids are learning about the world around them by doing and touching, they’re testing boundaries to explore independence, and they can’t regulate their emotions and impulses like adults can or comprehend complex cause and effect. All of that can easily lead to good kids with good parents doing dumb stuff sometimes.

I was a good kid who liked school and didn’t get in trouble much, that somehow didn’t stop me from using rubber stamps all over the wall one day when my mom wasn’t watching. Or chucking my sippy cup during a toddler meltdown and almost hitting a random lady with it. The most important part is how parents react to it tbh

That's a black and white assumption based on nothing except for one single context-less event that happened.

/r/KidsAreFuckingStupid

I once ironed a $10 note as a kid with the help of mum. Our money is plastic, and it immediately melted and shriveled up. I thought I felt stupid, but boy she felt even stupider.

I did the exact same thing.

Right! Or maybe a swift kick to the shins with steel toes

NEXT!

I mean seriously people, what is $1,000? What is $1,500? Clearly, not a lot. It would be quite manageable and within budget. I've heard of people asking for worse

Totally sane that one

If it goes viral it can actually be worth it to some people looking to get more publicity. I can name you a number of Vines where people destroyed shit that was worth more than $25.

It looks like how a dog would tear up money.

Believe it or not but for the majority of people $25 is not much at all and they're cool with having bit of fun with twittersphere by spending it like that

it could be fake news with fake money ;)

[deleted]

The kind of person who probably has enough free time on their hands to tape it back together.

wellll maybe it was canadian dollars, which are worth like a lot less

You'd spend $25 on something just as temporary. This is just how this person wants to spend it.

He doesn't. He just thinks everything is fake in order to seem smart.

Not if he’s from a part of the world that doesn’t have school right now which is like 2/3s of it

I dread the day I will have to ignore my child's tantrums in public. It may annoy everyone but I rather have a screaming kid than an entitled POS as child.

Also reddit: spanking is child abuse

Should have seized the means of chore production. ☭

My father paid an allowance based on chore completion each day - and deducted penalties due to unsatisfactory work.

One quarter for each day's work - and Two quarters taken away for each chore left incomplete.

After 4 days, I'd earned $1.00

After a full week, my father earned $0.50 and I learned the cost of education.

But what do you do now? Did his tactic work?

Doesn't always work like that. Grew up poor, but my brother played my (divorced) parents against each other to squeeze as much as he could out of them. The trick it to make kids understand that parenting is hard work, and money doesn't come easily. If your kids love and empathize with you, they will be more understanding I think.

Oh, you mean like most people on earth? They eating dirt tortillas out there.

That would only work in certain areas as most of America is so geographically disperse no kids could walk to any store in the cities I've lived in. The exception would be Mexico for me as when I lived there you could find a corner grocery store with a few blocks or less.

People don't do this in suburbia. The store is three miles away.

Most kids I know get allowances in exchange for good behavior. If they do their chores and aren’t shits they get some money at the end of the week (Like $3-5). It gives the kids an incentive to behave and also teaches them the importance of saving money. If they actually want something expensive they have to save up for it and not waste money on trivial things.

Kids are not your free servants that do your bidding (huh sounds like slavery) even if some parents treat it that way. If you have the money there is nothing wrong with paying them for chores. To be clear there is a difference between paying an extortion fee so they clean their room and offering them some extra chores for a bit of money.

I teaches them the work/money relationship. They want to buy something from their allowance but don't have enough? Perfect chance for them to work a little extra for it. Teaches them the value of hardwork. If you just give them chores chores chores "BECAUSE I TOLD YOU TO" they learn to follow your orders to avoid punishment which isn't exactly good. There is no reward there, because a reward of "I wont punish you if you do it" is not a reward.

There does not need to be a link between allowance and chores. My kids get an allowance to cover the things they want. As parents, we don't have unlimited money for our wants and neither do our kids. Spent all your allowance on x and now want y? You're gonna have to save up for that, just like we do for stuff we want or want for our family.

Going to the store for your parents might teach you how much something costs, but doesn't teach you about prioritizing how to spend your limited money.

My allowance taught me the value of saving. If I wanted something (for example a new game boy game or Lego set), then my options were save for it or wait for Christmas or my birthday. I also would sometimes get money from relatives for my Christmas or my birthday. It started out at a dollar a week, then was upped to two, then to five around middleschool/ highschool-ish. I could prioritize what I wanted to save for/spend money on and I would ask myself is this thing really worth the time I have to wait for that money. I still could ask mom and dad for things, but it meant that instead of no, I would get you can wait or spend your own money on that.

There's more than one way to teach your kids about money. Sounds like that's one way that works for some people, and an allowance is another.

My allowance was always dependent on me completing all my chores. I.e. just like a paycheck. Is that not commonly the condition parents put on it?

Yeah! Put ‘em to work in the factories while we’re at it!

/s

You can’t just explain it and expect it to click for them. Kids are fucking stupid. They need experience to learn.

That's very naive.

Kids, and people in general learn a lot better by doing than by just being talked at lol

That's not pragmatic at all.

You know for somebody who's trying to be practical you suck ass at it.

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Because it's a different world than I grew up in. There are fewer jobs willing to hire teenagers and meeting expectations for bare minimum to get into a decent college requires much more time outside school.

No family I know is going to hire a 12 or 14 year old to babysit though it was common when I was that age. Maybe by 16 or 18, but frankly most are hiring adults. Same for yard care: there are many adults competing for those jobs.

He gets a weekly allowance and it's a flat rate. When he was 10 or so I started putting in a credit system where he would earn a dollar a day for doing good in school, up to 5 a week, now it's 20 a week so long as I don't have to ask him to do anything which I usually don't. At this point the kid is really good with money and absolutely hates credit. At times he's asked to buy a big ticket ($60 game or whatever) and took a loan out. Boy did he hate not being paid at the end of the week until the loan was paid back. After that he stopped spending and stopped taking loans out.

so there was always a greater sense of fulfillment when doing chores, because I knew that it was lessening the burden of my parents and the rest of family.

Oh comeon, you know that's BS. We all hated doing chores as a kid, even if there was a reward for it.

Yeah! Kids should be doing chores for their sense of pride and accomplishment!

Kids should be given an allowance from when they're able to think -- it teaches money management and responsibility , they should get it regardless of grades and shouldn't be linked to anything ... grades should be gotten for personal development and satisfaction ... if you just buy everything for the kids then they won't feel independent and won't care about the prices and will be angry they can't save up for purchases that they don't want parents to know about (e.g. Say condoms or a train ticket etc )

[deleted]

Yeah, you know, like Vudu? New release rentals for $5.99. That is a thing ;)

What do you think is the way to go? Besides investment anyway.

Habit of spending can become an addiction. I like that I was raised to be frugal, it's easier to live this way. I don't have much other expenses besides food, rent, internet and phone.

Whatever you say, OP's child

Ur sick

That works too, but we had enough chores on the farm there wasn't time for a job.

Just like anything else related to parenting, it works well if there's a lesson that accompanies it. If there's no "teaching moment," nothing is learned.

the FBI wants to know your location

Needs atleast >50%

[deleted]

No, it's right on the bottom of the page:

Coin Procedures Bent or partial coin is coin that has been bent or twisted out of shape, punched, clipped, plugged, fused, or defaced, but that can be identified as to genuineness and denomination. Bent or partial coin is not redeemable at face value; it is redeemable only at its bullion (metal) value as established by the Director of the U.S. Mint.

The Federal Reserve DOES NOT accept deposits of bent or partial coin.

Can't vouch for the US, but in the EU you have to send in all of it. Would be a nice concept though. ;)

In the US, the rule with cash is that it has to have both eyes, because otherwise if it only has one eye, you could double your money.

That’s what I was thinking. With the notes it says that it has to have more than half OR that they have to be sure the other part of it isn’t in rotation, such as if it was burned. So if you take a 100$ bill, cut it in half, then burn the edge a bit where you cut and sent it in, you come out with 200$ ?

In the UK you just need the bit with the serial number on it.

This is why they discontinued the coin division of this a few years ago.

Does no one read the details:

Bent or partial coin is coin that has been bent or twisted out of shape, punched, clipped, plugged, fused, or defaced, but that can be identified as to genuineness and denomination. Bent or partial coin is not redeemable at face value; it is redeemable only at its bullion (metal) value as established by the Director of the U.S. Mint.

no. you should have read the article maybe. let me help:

More than 50% of a note identifiable as United States currency is present.

– OR –

50% or less of a note identifiable as United States currency is present and the method of mutilation and supporting evidence demonstrates to the satisfaction of the Treasury that the missing portions have been totally destroyed. Burnt currency that is clearly less than one-half a complete note, and cannot be handled without compromising its integrity, is considered mutilated currency.

You could cut two bills into pieces that end up being enough to send in and get three bucks back, and could probably make 5-6 dollars before the notice the same guy keeps sending in weirdly cut money.

I can answer that....

nah the rules are set in a way that you have to have over 50 percent of the money. so you cant just send anything lower than 51%

Yes, that technique is called Banch-Tarski

FBI! Open up!

When I checked on this for Canadian money, they required more than 50% in order to exchange for new tender.

You need more than half to exchange it, how I understand. If it's paper money, they'd need to be able to make out at least one of the serial numbers too.

Has to be more than like 60 percent of the dollar I believe somewhere in that ballpark

Has to be more than 60% of the bill bruh

You have to send more then 50% of the bill for it to work.

You must have over half of it

It has to be 51% or more of the coin/bill for them to accept it.

According to the site you only get what the metal is worth, which is probably not as much as the original coin would be worth. Plus it has to be identifiable, so there’s only so much splitting that can happen before they refuse it

Won’t take partial coin, that’s what the article says. So this wouldn’t work

The trick is take two $100 bills, tear each into roughly thirds, turn in three collections of more than 51% of a bill (up to 67%) each to get $300 back as well as a bonus 20 year prison sentence for counterfeiting money (when they note the serial numbers).

You have to provide more the 50% of the destroyed currency to get it exchanged. Otherwise everyone's full time job would be Money Mutilator.

They have a 50% rule. At least 50% of the currency must be there to be reimbursed.

I'd guess it has to be over 50% of the currency.

Iirc you need 51% of the bill or coin

This is actually something that used to happen! In the olden days of the USA, coins were malleable. So, people would break them into 8 pieces. Each small part of the coin was called a "bit". Well, some people realized that a coin cut in 9 pieces is awfully similar to 8 pieces, so they would take 8/9 of a coin to the bank and get a full coin. After doing that 8 times, they get one free coin. Quite clever!

Source: learned about it in history class. I could be wrong, can someone help me out on this? It's kinda hard to Google search for "bit coins" lol

You need 55% of the currency to have it replaced.

In the US- you actually have to have more than half of the currency present for them to replace it. Source: I found exactly half of a $100 bill, and tried to get it replaced and that's what they told me.

[deleted]

Honestly tho... what stops someone from doing that?

https://www.youtube.com/watch?v=xQ5NBrvPv_g