Blog 5

TINSTAAFL There is no such thing as a free lunch. This can also be said for things like Dogs, vacations and cars. With a dog you just get the dog you dont get the shots food or Vet visits. So ther is no such thing as a free dog even if the sign says it is free. Same with a car my grand parents asked me wat kind of car i wanted for my 16th birthday. being a snotty teenager first i said an Italian sports car. but then my logical parents sat me down and told me that the insurance and gas money would be far too high for me to pay for and that even if i got that car It was never going to be "free" because there are other expences. So I almost got a cool car but economics saved me from beiong cool. So those are obvious examples of TINSTAAFL but another one might be a vacation some think sitting on a beach is a free expence less way to spend a vacation but it is not because thecost that it took to get you there is how much it cost you to sit on that beach. So sitting on a beach is not a free way to vacation.

Blog 4

Kurt- Has no idea how any thing in this world works especialy when it comes to the economy. So one day I sat him down and told him about the economy. The first thing i told him about was what economics i never knew that telling some thing to a freshman boy waas like talking to a brick wall with a pulse. so we had a dicussion about how economics s about how people make decisions and cope with scarcity. we talkes for a long time and than i realized that that you can learn a lot from explaning stuff to someone else. like that it takes almost 1 and a half hous of work at a minimum wage job to buy one pizza. would you givve up 1.5 hous of work for a pizza. when you think of spending choices based on how much you make you would be surprised how much work it takes to buy one item. For instance my ipod was stolen this year. my parents said they would pay for half but since i was the idiot with the stolen ipod i paid for all of it so now i take better care of my stuff. for a $300 ipod it would take a little over 30 hours of work at my current job. this also means no gas or social activities. so for one bad decision I HAVE TO WORK  for about three weeks and not spend on anything else. was it worth it to buy an i pod? if you rationalize decisions by hors of work like the pizza above they become more real.

Blog 3

 It costs $55.09 on average per day or $20108 per year to keep an inmate in prison.

Since it costs a boat load to keep inmates in jail what could you do to cut the cost? Well many states are letting out non violent offenders so that they can cut cost but will this help because once you leave is about 44% so is this really cutting the costs. I don’t think so Because once you let them out they might come back so you barely saved maybe a rehabilitation program but that would add more cost and who know if those work.

Blog 2

            Would it be good for America to take over Canada? I have nothing against Canadians because well they gave us Hockey and Justin Beiber. What more could you ask for from “Northern” America. One good reason would be so that we can get rid of their socialized medicine. When they can’t get the help they need in their own country they come down to ours we are their life support if they cant get through the system. Maybe good heath care is better than cheep heath care. Cause if something is cheap that doesn’t make it better. They have what is known as a safe economy one that doesn’t take risks. Is that better than a risky economy. No one will ever know if we should take them over but three things are true they have cool colorful money and the sexiest man alive according to people mag. Was yours truly Ryan Reynolds and you cant beat the royal Canadian mounted police .  

Blog 1

Since the turmoil this summer with all the economic troubles that Greece caused with the Euro value seems to be drifting away I recently found an article saying that Germany was switching back to the deutsche mark. This dose not seems like a far fetch reality after this summer. But5 this all made me think back to my two week course at the London school of economics. Of the two weeks I can only remember one day the day we talked about the Euro. In 1999 when the euro was introduced many people thought that Great Britain was making a mistake not adopting it but were they? Then they said with out the currency GB could not compete with the rest of the global economies and would fall behind. But since the summer the value of the euro has dropped drastically. So the bag of 200 euros I found in my closet from when the euros were adopted in 1999 were once worth about 234 and with out calculating for inflation it is now worth 258. So was it smart for GB to stay out of the Eurozone?