New Year 2018

Thoughts about the New Year, past and present.
On this New Year’s Day, I recall the problems faced some years ago when the paying of bills was done by writing a check.  I frequently made the mistake of placing the old year on the date of the check thus requiring me to write a new check.  With electronic transfers and/or automatic withdrawals, I believe that check writing is a thing of the past for most.  There is a downside with these new procedures.  It doesn’t give the payer the delay tactics formerly available, i.e., the check is in the mail.  Another delaying tactic used by some was to write a check and not sign the check requiring a new check to be written with a signature causing further delay.  The advantage of automatic withdrawals saves time, however if there is some discrepancy with the bill it is more difficult to correct the mistake when creditors already have the money.  Electronic transfers are safer; however, some banks charge a fee for this service.  Holding onto one’s money as long as possible and not paying until the due date makes sense, however that procedure is jeopardized with automatic withdrawals since the creditor usually takes the money on the charge date. 
Technology can be good; however, it has its downside, particularly with “The human factor”.  Being in control of one’s money is no longer as simple and is especially difficult for the elderly who may lack the expertise in electronic procedures.  The human element is disappearing even with simple things such as banking.  Walking into a bank, talking with the banker or teller asking for assistance is being eliminated.  Machines are replacing humans to the dismay of many.  Interaction (communication) is taking a big hit.  Self-service has eliminated many jobs.  The proprietor of a business welcomes robotic technology and self-service from a cost-saving perspective without consideration to the human factor.  Consumers can only consume when they have money.  Unemployment does not stimulate consumption.  The trickle-down theory didn’t work and yet politicians continue to support this theory by providing incentives to business owners while ignoring the plight of the consumer.  What happened to “Common Sense”?  It doesn’t require an academic degree to understand supply and demand.  Has greed blinded our government representatives? 
It will be interesting to observe what happens during the next election cycle.  Will the voters succumb to the repetition of lies and believe them?

The UK changed from pounds shillings and pence to decimal currency in 1971. Tye change was challenging to the ooder generation, but the young soon adapted an never learnd about the old twelve pennies to a shilling and twenty shillings to the pound. Inflation was surging at the time and many felt that the new currency hid the falling value of money in their pocket. Most of the older generation are now gone and everyone accepts the digital currency. Electronic and plastic means of paying fir goods and service is normal fir tge youhger generation. Eventually, the new forms of banking will prevail and the older generation will ge gone. You can't stop progress.

As to the delaying of paying bills, the young live with debt. They overspend on their credit cards and pay the interest on the borrowed money. They view goods in the same light as a mortgage: enjoy the benefit of owning things immediately and pay later. They live on the never-never, constantly owing money.