Humility and Perspective Would be a Good Thing

It wasn’t too long ago where people from all over the world were congregating in endless lines outside of Ellis Island in hopes of achieving the American Dream - willing to give up their culturally rich surnames, such as Smithblovcheskyowski, to a more generic “American” name like Smith. 

This eagerness to scratch and claw into the United States has since made a 180 degree turn around. 

According to THIS ARTICLE, “In late 2010, Dr. Grady Snyder saw the writing on the wall. He was burned out, his revenue was shrinking and it was getting too expensive to run his rural practice”…so what did he do? He moved to Australia and took up rural medicine there. 

For those of you too lazy to read the article he essentially gave up on American health care. I know this because he said, "I gave up on health care in America." Doctors are fleeing the United States because it’s becoming more difficult to both make a solid living, and keep up with the regulations made by our Dear Leaders...Oh, wait, sorry we’re not in North Korea…I meant Congress. The young adults who pursue their education in medicine, more often than not, accrue a large amount of student loan debt. Which brings me to another point…

Students are becoming more conscientious in deciding which educational institution to attend based off of how much their parents can afford to take out for their second home mortgage to financially support their pride and joy as they embark into young adulthood between weekend binge drinking and pulling all nighters to cram as much 411 as they can. When faced with the decision of going to University of Chicago for $45,945 a year versus a similar counterpart like McGill University for $14,561 a year it seems like a no brainer. The only difference is McGill is slightly more north from the Mason-Dixon Line...and by slightly I mean approximately 800 miles more north nestled in an angelic city known as “Montreal”. We have a lot to learn from our Maple Leaf neighbors. 

According to THIS ARTICLE, “Six percent of McGill’s student body is American, and the ranks are growing. The number of U.S. students at Canadian colleges rose 50 percent in a decade, and now about 10,000 Americans attend Canadian colleges, according to the Institute for College Access & Success.” Regardless of what our Capitol Hill friends might want us to think, it’s useless to pass the buck of high tuition costs from one political party to the other (because let’s face it...this is only a two party system these days). In the last decade a president representing BOTH major American political parties has been in office...and yet here we are…watching helplessly as the tuition costs have doubled, and sometimes tripled since the Millennials entered elementary school. Considering almost 10% of college graduates default on their student loans within the first two years of graduation there’s a bigger problem to address out there. And it isn’t every situation where the non-child bearing baby boomer can say “Oh they just want to play World of Warcraft in their undies whilst eating bonbons and cheesy poofs as their helicopter mother does their laundry.”

The United States, the land of opportunity and prosperity, is finding itself in quite the predicament these days. Doctors, teachers, students, and other members of society who make up the essential fabric of the developed world are looking abroad for cheaper alternatives. 

Upon completing a teaching certificate program, I was enthusiastic to begin my career instilling vast amounts of knowledge into the minds of my pupils. I was quick to discover that due to budget cuts, many districts were not interested in hiring, but rather skimming back. In order to gain teaching experience, I hopped on a plane and traveled half way across the world to China. It was a wonderful experience, but another example of someone in search of employment having to seek it in a far off land.

 

 ^ Having a bit of humility and perspective would be a good thing^

Learn from the Great Depression and bury your money in the yard - you'll earn more interest.

Upon discovering THIS ARTICLE, it really got my goat realizing how financially trapped millions of Americans are. The new American dream slogan should be "Give me your tired, your poor, Your huddled masses yearning to breathe free" so I can take all of your money while you work for food, or for free.

In regards to the article, I can’t speak for other banks, but I can definitely see how this is an issue for prospective patrons of Bank of America. In order to avoid,“monthly maintenace fees”, one must have a minimum of anywhere between $1,500 to $10,000 depending on the type of account they bamboozled you into opening.  The regular checking account has a $12 monthly maintenace fee if one does not deposit at least $250 a month, or maintain a daily balance of $1,500. Mind you, this is for the account that earns the least amount of monthly interest for the account holder. To do ebanking only one must never use a bank teller to avoid the $8.95 monthly maintance fee – although, there’s still a chance they will charge you for it anyway depending on how they feel that month…and if you want to complain to a teller or bank professional about the improper monthly fee charge you’ll be charged for that anyway! If you were foolishly encouraged to open a tiered checking account (which is most frequently pushed by the bank onto the patrons)  the only way to avoid the $25 monthly fee is to maintain a daily balance of $10,000. 

When several million Americans are living on less than $2 a day, and the national poverty level has doubled in the last two decades I wonder why the banks make it so difficult for the middle and lower class to save. If a family is unable to maintain $1,500 in their regular checking account (which is common for millions of families) then the bank takes at least $144 a year from them assuming the individual did not have an over draft fee as well (which is more reasonable of a fee rather than a “maintaince fee”). That $144 could have been saved, spent on diapers, food, school supplies…

I still do not understand the purpose of an overly priced maintanence fee. What exactly is the $8.95 - $25 maintaining? The CEOs cushy salary? If it wasn’t for theft, I think more people would pull a Great Depression move and hide their money in bags of flour, homemade safes or bury it in cans in the yard. 

Personally, my account has been frozen 6 times since last September…and not for any reason related to insufficent funds, or overdrafting or anything you would assume would be a reasonable cause. It has been frozen because I bought a TV and they thought it was an odd purchase, then when  I was in China (despite me warning the bank per their request that I’d be traveling abroad),  due to suspicious online activity – even though I’ve told them several times that I am indeed purchasing songs on itunes…and when I called to get my account unfrozen they told me to go in person, and when I go in person they told me to call the number on the back of my card…

I understand banks were too big to fail and therefore were bailed out by the government, and in order to pay back the debt caused by their stupidity they have to up the fees and up the ante in other ways – but to prevent minority groups and those trying to pull themselves out of poverty to save a dime is egregious. The economy can not fully recover if people are restricted from saving, and on the same hand spending. I think the economy will bounce back much quicker if the most vulnerable financial groups were not being gouged for every penny they have. 

                                  ^ Size doesn't matter..it's how you use it ^