Weekly pay page 2 electricity lessons grade 6


Click to expand…If nothing changed overnight, then when DID it change? For how long was $1 US 4.2 trillion Deutsch Marks? In December 1922 the U.S. dollar was worth 7,400 marks. By November 1923 it was at the 4.2 trillion marks. That didn’t just happen overnight or in a few increments.

The parents of one of my elementary school friends were German jews (and were sent to Auschwitz and came to the U.S. after the war). It was from them — in 3rd grade, IIRC — that I first heard about the Holocaust and the German hyperinflation. Naturally, I was more interested in their tales of the Holocaust and didn’t pay nearly as much attention to their tales of the economic times as I would have a decade later, given the chance to talk to them again. But I vividly remember them talking about how he was paid multiple times a day and how she would come by the factory where he worked and get his pay and immediately go to the shops and spend it all on anything that was available because the prices would be higher when she got his next pay a few hours later. Everyone bought everything they could as soon as they could because barter goods were how personal business was conducted, but most businesses paid employees in paper money (since learned that this was because of deliberate actions/policies on the part of the government as a means of dealing with issues surrounding the payment of war reparations from WWI). They said no one would accept checks because by the time they were deposited and processed they would be worth so much less that it wasn’t worth the risk — unless you wrote it for at least two to three times the value of what you were paying for.

I’ve come to understand since that this was one form of speculating on the currency. The factor by which you overwrote the check was essentially a marketable commodity with the check writer betting that their pay would be sufficiently higher before the check cleared their bank to cover the factor while the person accepting the check betting that they could get the check to clear while the higher value still had more spending power than the original value of goods sold. Like any such ad-hoc system, this was quickly filled with middlemen that bought and sold checks because they had worked out systems and built a network of couriers that hand-carried the checks to the various banks. Although this was a stabilizing influence to some degree, it was still layered on a practice that fundamentally served to drive the hyperinflation even higher.

At one point in the process there was full employment because there was such a huge demand for any product that could be used for barter, but it meant that companies focused heavily on products that could be made and sold quickly because the velocity of the money supply was just so high. But then business owners started to believe that there was a greater return in speculating/hoarding trade goods than in manufacturing them and so the supply of good in circulation dropped which drove the hyperinflation even higher, while at the same time resulting in exploding unemployment, which quickly caused the entire economy to rapidly crash.

While I’ve never been paid a paycheck more frequently than every two weeks, I worked as a tipped employee for a while which meant that I was paid pretty much all of my pay every day I worked since my actual paycheck was usually just enough to cover the taxes and leave me $20 or so left over.

If you are paid monthly, then it is a pretty straightforward matter to pay the monthly bills that are due during the month leaving yourself enough to get through the month because you know what the starting point is — you have the check which is what you have to work with.

If you are paid daily, then you need to budget a lot more carefully to ensure that you will have the money to pay the bills as they come due, especially if you don’t know how many hours you will actually get scheduled to work or how good your tips will actually be.

What I did (this was 1984-85) was take a bunch of small plastic boxes and wrote one each one an item that I needed to pay. I estimated how much I needed to put in each box each day in order to have what I needed when I needed it. I used a one-page calendar to mark off where I was in terms of payments. Each night that I got home I paid the boxes. If I knew I wasn’t going to work the next day, then I had to pay them ahead. If, as happened from time to time, I didn’t have enough then I would owe the boxes from the next time I worked. My policy — pretty strictly adhered to — was that I could not spend ANYTHING not allocated by one of the boxes unless I was at least a full week ahead. If I WAS at least a week ahead, then anything in the pile next to the boxes could be spent on whatever I wanted, but that included clothes and anything else that was needed by not covered by one of the boxes.

The system wasn’t flawless, but it worked pretty well. I treated as a game and a challenge and at one point got it so that I was more than two months ahead. That gave me the ability to occasionally (very occasionally) take whatever I got paid one day and just go spend it on whatever I wanted without any guilt. But more than anything, it got me to really understand that when I got paid that the money wasn’t just mine to do with what I wanted — that much of it was already spoken for and that I couldn’t ignore that reality. Sadly, it took a much longer time for me to realize that the proper way to live is to get it so that as little as possible of your money is already spoken for before you even get it — i.e., live completely debt free.

These stories virtually always equate any bachelor’s degree with any other bachelor’s degree, which leaves the question begging of whether the "softening" is due to a lessening in the value of a bachelor’s degree, or whether it reflects a shift in the distribution of degrees awarded toward degrees that have little or no value in the marketplace.

I haven’t looked closely in a few years, but I haven’t seen any indications that either demand or compensation for technical degrees, such as electrical engineering, are "softening". Now, as to whether the increase is keeping up with the outrageous cost increases of a degree is a different, though perfectly legitimate, matter.

This article also makes it sound like these trades jobs are going unfilled only because people are only interested in pursuing positions requiring a college degree. But right now employers at all levels are having trouble filling positions, whether entry level or for senior experienced people. Unless the article looks at the relative difficulty of filling trades positions compared to college-required positions, there is nothing they can claim beyond the well-known reality that the economy is currently heating up enough so that many positions are going unfilled.