Wednesday, May 22, 2013

Economic Incentives

I was thinking about the person that won that powerball. I hear that if they take the cash option, after all is said and done, they would get a check for 236 million dollars. Not bad for a two dollar chance. But the thing I was wondering is, if I opened a checking account with that money would the bank give me a free toaster ? I remember when they used to do that. Might get a blender or a radio too. I guess they don't do that anymore. The FDIC only insures 250,000 so that's a lot of banks. I don't need that many toasters I guess. Could give them away as Christmas gifts though. Save a few dollars.
That got me to remembering about the freebies we used to get. Glasses and silverware at the gas station. Got those with a fill up. Sets of encyclopedias at the grocery store. You did have to pay 99 cents for them with a qualifying purchase. I got a set of Colliers from the IGA. The grocery stores would occasionally have dishes.
We had plaid stamps,S & H green stamps and coupons on packs of cigarettes. You could save those rascals up and order from the catalogue. RC cola had a chance to win money under the cap. I won more than once. I think you could win a free soda too.
Things have changed over the years. Now about the best you can expect is free checking. The bank won't charge you for using their services, as long as a minimum balance is carried. Other fees apply however. A fill up at the gas station gets you, a fill up at the gas station. You can wash your own windshield with the squeegee provided, no extra charge. The federal government outlawed coupons on cigarette packs. Made people smoke too much ! Well because everyone was spending five dollars a pack to get a ashtray. Only had to buy about three hundred dollars worth. I will say I have seen pots and pans available at the grocery store. You can purchase them with a qualifying purchase. They're not cheap though. Not sure how much of a bargain they are.
Remember punch cards ? Could win prizes with them too. A walk on the dark side and you could win money from those punch cards. You did have to keep an eye out for the law. They were for amusement only ! Never did win anything from them. I knew a couple places to go when I wanted  to take a chance. I didn't realize it at the time but that was the beginning of the moral decay in this country. Now scratch offs abound and gambling of all types is right out in the open.
Yes, things were simpler back in the day. Merchants really wanted your business and appreciated it. Now merchants act like they are doing you a favor. Banks actually paid interest on savings accounts. That was in the days when the government encouraged us to save. Now it's take out a loan, spend more money. And now the government is in debt and can't seem to figure out why. Now our greenbacks might as well be green stamps, worth about the same. Only real difference is no one is giving the greenbacks away. Can't get green stamps either.

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