The Ministry of Normal Existence

February 6, 2021February 5, 2021 economiccommander2 Comments

I’ve spoken before on the trend of the government and corporations essentially becoming one and the same. This is not “corporatism,” as many lolbertarians will smugly insist. It does however spell disaster for the future, and most especially in the short-term. The difficult part is ascertaining what precisely individuals can do in a strategic manner to protect themselves from this great scourge.

First on the list of grim tidings is the story emerging about Bank of America. The company, which currently occupies a position as the second-largest bank in our country, has been caught serving as a dutiful underling for the State. According to Tucker Carlson, BOA reviewed the private transactions and records of customers to determine if they had taken part in the DC events last month. What’s more, they were casting a wide net, going after people who had no indications of involvement with that scenario.

Even the greatest liberal humanitarians should find fault with this behavior. Corporations that rhapsodize about protecting customer data from breaches or marketing can simply turn around and hand it over to the powers that be, all in the name of security policy. There is no bar or threshold requirement, only the shrill declarations of politicians who lie frequently to generate hyperbolic sympathies. Not to mention what throngs of young fools will buy it all absent questions.

But problems fail to end there. Various airlines have already moved to ban passengers affiliated with the controversial protest, effectively crafting their own no-fly lists out of thin air. Bear in mind that these people have not been convicted of any crime; they simply hold a political opinion now considered to be toxic. Yet the desperate calls for regulating out-of-control corporations seem strikingly quiet, largely because people stand to benefit politically from such disenfranchisement.

So what is the proper solution? One might point to the notion of a protective rights bill, though this will require passage through the upper house, where finance and tech lobbying has no limit. Alternatively, a push for nationalization and redistribution of profits to the poor could feasibly scare the larger firms into better guarding individual liberties, though I certainly think they will fight on all fronts to defend the sniveling worship of power.

After all, it is a tremendous drug.

investing · Personal Finance

DCU Savings Account (Review)

October 16, 2020October 9, 2020 economiccommanderLeave a comment

Once upon a time America was imbued with the virtues of a savings-driven culture. Credit cards were possessed by few, and loans required substantial down payments, resulting in risk-averse borrowing on the part of banks. All that is long gone, and savings rates reduced to guttersnipe provisions, but whenever an option comes to my attention which breaks the mold, I feel inclined to document readily. In point, it is worth discussing the DCU Primary Savings Account, a decent vehicle for those looking to generate some added cash.

Structurally, the product is set up no different from any other savings accounts, though the status of credit union creates some intrigue. Those who do not meet residence or employment requirements will need to purchase membership in a local organization, which is somewhere between 10-35 bucks. Once through the door, DCU gives members the option of a savings accounts generating 6.17 percent interest on balances up to $1,000. That might seem meager, but it does equate to over sixty dollars annually in returns, and certainly doesn’t end there. Beyond the threshold, account holders will rake in 0.25 percent, which is about the same as Navy Federal’s Share Savings Account. That’s not too bad at all.

The application process is quick enough despite obligatory agreement acknowledgements, and funds can be moved right away, so the bar to entrance is merely qualification-based. One question to consider though is the online banking layout, which looks suspiciously like Bank of America’s outdated insurance software scheme. This is rather immaterial where finances are considered, but nevertheless:

Alternatively, a number of other possibilities are available:

BayPort Credit Union offers a 5.00 percent APY on balances of $500, 3.00 percent on balances up to $2,000, and 0.15 percent after that. Only catch is limited membership openings and an age cap of 24 on the accounts.
The Mango Debit Card program allows users to earn 6.00 percent APY on balances in a savings account up to $2,500, and then 0.10 percent beyond that point. To qualify one must make purchases totaling $1,500 monthly, however. Further, a $5.00 fee is charged monthly if direct deposits of $800 are not made.
The PayPal Prepaid Card has a savings account providing 5.00 percent APY on balances up to $1,000, and then 0.50 percent after. It does however demand a monthly fee of $4.95, which may cut away at the interest earned.

Happy saving!

Culturalism

How Technology Destroys Customer Service

March 14, 2020March 14, 2020 economiccommanderLeave a comment

“Dynamic technology is changing our lives for the better.”

We have all heard something along these lines over the past two decades. First it was the Internet.com, then smartphones, now smart everything. The oft-celebrated Internet of Things is forecast to make existence more convenient, less time-consuming, and more user-friendly.

Sure, tech has created positive change and unified people across the world. It has given us new industries, aspirations, and means of communication. All one must do is dream, and type in a Google search.

But there is something else: the wondrous change has allowed corporations to turn a middle finger to the individual consumer. The customer is no longer “right” in our world; as an entity we hardly exist. In fact, we remain little more than a credit card swipe and a flicker of lights in the data center’s tower aisle.

I was thinking about this yesterday as I picked out an appliance for my new house. Being the deal-sensitive person I am, I went on the Bank of America app to change my cashback category to home improvement stores. After all, why not get twenty bucks back on a sizable purchase?

As it turned out, the app did not permit me to change the category, and advised logging in to online banking, which I did. On the website, I received a message saying I needed to use to app to change the category, or login to online banking. Obviously, neither option worked.

Feeling rather annoyed, I tried using “Erica,” the virtual assistant. When I inquired about the category change, she feigned digital ignorance by asking me to repeat the question. BOA’s customer service number was no better, leading me through a maze of menu options before claiming to “not understand” the request.

You might say this is a one off, but I’m seeing it regularly. Last year I booked an appointment with Best Buy to have a remote start installed in my rover. I paid the fee, got numerous reminder emails, and drove almost an hour to the GeekSquad bay. The door was locked, and no one answered the phone. After finally getting in touch with the manager, she bluntly announced that her technician had quit the previous week.

Instead of exploding, I calmly called Best Buy’s customer service, where I ended up speaking with five different representatives, each holding unique titles and demanding I repeat the story over again, before they made up an excuse to transfer me. I was stonewalled continuously, and eventually disconnected from the “Customer Care Manager” who could barely speak English.

Around the same time frame, I ordered a video game on Amazon as a Christmas present for a family member. After my other items showed up, I saw that the game was delayed by almost a month. I promptly attempted to contact Amazon and cancel the order. Like with the others, I was led through an endless maze of virtual assistants, disconnected numbers, and general indifference. All for something that should have been a simple, one-click solution.

Of course one cannot email any of these companies anymore, because they don’t want a paper trail if the underlings screw up and promise something they refuse to afford. At best you’ll get to use chat, or maybe a 1-800 number. How joyous.

But at least we have “smart” refrigerators.