Perry Glasser


In Business, Economics, EDUCATION, Finance, FINANCE FOR THE CLUELESS, Personal Finance on February 3, 2018 at 1:18 pm

It’s hard to be sympathetic.

Several years ago, Dollar$ started plainmoneytalk to offer explanation and instruction about financial matters to the naïve and young. Someone had to.

Big honkin’ financial websites and advisory services run by Wizards have a vested interest in making what is basic seem complicated, the better to charge for magical advice no one should need.


Credit Card Company

Personal Finance instruction at high schools is abandoned after explaining checkbooks, possibly because teachers themselves are uncertain of how banks, credit cards, car insurance and all the rest fit together. Young Citizens are left baking in the sun along the roadside, tasty meals strewn meal for carrion credit card companies who feast on the dead.

Dollar$ refrains from specific investment advice, the realm of Buccaneers and Wizards who cover their asses by couching advice in subjunctive mood: If XYZ Corp does not go up, it might go down!  Yes, well, other than standing still, there is no third alternative. There is, however, lots of deniability, and the advice applies not only to investments but to hydrogen airships navigating through lightning storms. If it does not go up like the Hindenburg, it will do just peachy.


Financial adviser: “But look how well they are doing at the front of the ship!”

The four personal financial functions – Saving, Investing, Spending, Insuring (SISI) — have been explained by Dollar$ in the past. Underlying the advice are a few principles, the hallmark of which is Get Rich Slowly.


So it is with a heavy heart but some smug self-justification that Dollar$ observes that in the past two months, the eager sweaty Get Rich NOW! Millennials, nurtured on tales of college drop-outs making billions in weeks and because of weak toilet training remain puzzled by the concept of delayed gratification, have gotten kicks in the head and keister. (Why do we never read of the legions of Ivy League dropouts who lost Mom and Dad’s fortune by investing in systems to convert lead into gold?)

Bitcoin and other “digital currencies” took a beating, dropping a bruising 60 percent from a high of $19,783 in December 2017 to (gulp) as low as $7,700 last week. That’s 60 percent, and the fun is not yet over.bitcoin

Someone will offer a postmortem—increasing regulation around the world? invisible North Koreans getting out of the game until after the Winter Olympics?—but the fact is that at any time  they could have read Dollar$. With any luck, we have seen the last of this worldwide swindle put together for the greater glory of sex traffickers, arms dealers, dope runners, and terrorists.

Dollar$ does not like saying, “I told you so” because it is like kicking  corpse, but in this case will make an exception.


  1. […] Division). Kids on the street were selling their bicycles and holding bake sales to pick up some bitcoin, wait a day or two, and then cash in expecting in a day or two to have enough money to buy a […]

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