Well just a few days ago I wrote how FDIC should have raised their insurance coverage limit from $250,000 to $350,000 to adjust for inflation since the last time it was adjusted was in 2008 with the last financial crash. Here we go again.

I hope they raise the limit because I’ve already pulled cash out of the bank for that very reason. Now that I see this video has been posted on the internet, I can only surmise that there is a slow bank “crawl” rather than a bank run but who knows.

In any event, here is the video.

I tried searching for reports on reserves for some of the big health insurance companies and I had trouble finding them. If I understand how most insurance companies operate, they take in premiums, invest those premiums in bonds and equities to generate returns and use those funds to pay claims that are filed by their customers.

With the stock market crashing and the bond market in turmoil and the potential for insurance claims to soar as people get sick, is this the perfect trifecta to crash the health insurance market?

According to this news report, a woman who got coronavirus and was treated, ended up with a $35,000 bill. The report doesn’t offer too many details but if that is the average bill and health insurance companies end up getting inundated with 100,000 claims then that’s a staggering $3.5 billion per 100k claims. If we end up with 1 million sick that’s $35 billion and 10 million sick, it’s a whopping $350 billion.

So are health insurance companies even solvent at this point? I don’t know the answer to that question but it is frightening to think that the health coverage I think I have may not even be there if I need it.

Plan accordingly. Stay home and stay healthy.

Well here we are again 11 years after the last financial crash and there is talk of bailouts for airlines, cruise lines, banks, hotels, restaurants and on and on and I have yet to hear a single person demand FDIC insurance be funded to prevent insolvency,

I wish that were the only problem but the second one is that FDIC coverage hasn’t increased from $250,000 since 2008. It seems I am one of the few people that can do a net present value calculation so let me give you the numbers. The $250,000 amount from 2008, adjusted for inflation at 3% interest for 10 years should be around $335,000 but let’s just round it up to $350,000 or better yet $400,000. See you in 2030.

If congress fails to act, I’m gonna pull all my money out and then the banking system will really be hurting.

Happy Father’s Day! This year for Father’s Day, I received an Oculus Rift S as a gift. I was excited and expected to set this thing up on my Dell Alienware Aurora R7 in a snap however 2.5 hours into updating drivers, software, and all sorts of other useless exercises I couldn’t get it to work.

I essentially could never get the headset to connect and was perpetually stuck at “Connect Your Headset.” Of course, I googled the problem and many others seem to be encountering the same issue.

I packed up the piece of garbage and took it back to the store (Best Buy).

As a Public Service Announcement, if you are considering getting a Oculus Rift S, please read the reviews and click on this google link before you do.


And yes, I did download the compatibility tool before I purchased the unit in case you’re wondering. I have a high end machine with high end graphics more than capable of running a rift. I will now look at other options.

Our family purchased two new Toyota vehicles over 10 years ago.  A few months ago, one of those vehicles became (in my view) to expensive to continue to maintain.   One of the mechanics did a major screw up causing several thousand dollars worth of damage to the car.   We ended up selling the vehicle and were thinking about buying a new one so we sat down and decided to do some math….

It turns out that for us, in our current situation, it is far cheaper to Uber to/from work than to buy a car.    We still have one vehicle that we share between us but we alternate having the car when we will need it for more than just a single trip from home/work or vice versa.

It turns out that Ubering will cost us about $400/month for daily service to/from work for my wife.  It is a bit more expensive for me since I work further away from home but even that additional amount is STILL cheaper than owning a car.

Most people don’t factor in all the expenses of owning a car: insurance, fuel, maintenance, and the cash outlay for the car itself and interest on top of that if taking out a loan.

So here’s the math.  Each trip is about $10 for my wife so that’s $20/day.   There are about 20 workdays in a month so that’s $400.  This averages about $100 week however it doesn’t factor the fact that I will occasionally drop off my wife when I’m heading to work or pick her up when our schedules sync.    Moreover, I travel frequently and work from home some days so she uses my vehicle when I’m out of town for a week or so every month.  That’s how we ended up with $200/month.

Even at $400/month there is no way to beat that “owning” a vehicle when factoring fuel, insurance and maintenance.   What really kills me is that buying a car is a huge capital expense and most of the time the car sits in the garage or parking lot.

By doing the math, it also turns out I discovered that Uber drivers really get screwed but their loss is my gain.   This article also points out Uber drivers end up making less than minimum wage.

Lastly, there are other intrinsic factors at play here.   The Uber driver is also assuming the liability of driving the car.  This not only includes getting into a car accident but also getting ticketed for traffic violations, parking, etc.   Personally, I really like being chauffeured around so I can do some work or take a call.

My suggestion to you is to do the math and figure out if you really need to own one or more cars in your household.   For people living where there is no Uber or too far away from work (i.e. living in the suburbs) you probably don’t have a choice but for us, it’s a no-brainer so far.


Over the Thanksgiving holiday, my brother talked me into getting Direct TV Now service. The selling point was a free Apple TV 4k device by prepaying for 4 months of service. The cost of the service was about $179 which is what the cost of the Apple TV come to so you’re either getting a free Apple TV 4k or 4 months of Direct TV Now for free depending on how you look at it.

I signed up right away on Thanksgiving day as we talked about it. It has now been 5 years since our family decided to give up cable TV for iPhones. Over the past five years we have watched TV primarily through Netflix, Hulu Plus, HBO Now and over the air antennae and we haven’t missed cable TV so I took this as a great experiment to see if we would ever go back. The result may surprise you!

So here are the Top 10 disappointments with Direct TV Now.

1. Commercials – After over 5 years of commercial free TV, going back to commercial television has been very hard. We don’t watch too much television but when we do it’s through binging a couple of episodes an evening optimized by having no commercials. Going back now to watching for two hours to get 45 minutes worth of content is literally not worth my time!

2. Streaming interrupted – Direct TV now has a horrible habit of having the stream interrupted at the most inopportune time like a critical scene at a TV show or movie. I don’t have this problem with Netflix, Hulu, or HBO Now so I know it is NOT my internet connection speed. This would be particularly ironic since my main service provider is AT&T which owns Direct TV Now.

3. Direct TV Now vs HBO Now – Because I could get HBO for $5/month add on to my Direct TV service, I canceled my $15/month HBO Now service but so far HBO Now is far superior because it has all the shows available to stream, I have not figured out how to get the full breadth of shows from the Direct TV Now Apple app which brings me to point #4 below.

4. UI – The Direct TV Now app on Apple TV has a HORRIBLE user interface. It is extremely frustrating sing the app to navigate the channels, streaming and options. Often I’ll do something that changes the channel automatically by swiping left or right on the Apple TV remote. The guide is horrible and navigation is impossible.

5. Location services MUST be enabled – If you intend on using Direct TV Now, you should be aware that the service requires you to share your location – so much for sneaking off with your mistress to watch TV if you have one because this app will discover your whereabouts at all times. This is one of the many reasons I will be canceling my service when it runs out in four months. No, I don’t have a mistress but I do value my privacy!

6. Streaming Shows Very Limited – There are whole seasons missing from a show lineup. I do not understand why entire seasons of shows are not available. Some shows only have the last two or three seasons available while others skip around (Rick & Morty). It is bewildering to say the least.

7. Spontaneous channel changes – My biggest frustration with the service right now is that we will get a random channel change for no reason. The remote is sitting on the ottoman completely devoid of any contact and the channel will suddenly change for no reason. Again, I did not experience this problem on any other streaming service so to say my Apple TV, remote, or internet connection is off would be wrong since it only happens with Direct TV Now on Apple TV.

8. No Local channels? I only get ABC and FOX local, CBS, NBC, UPN and others non-existent and I’m not sure if this is an accidental omission or some dispute with the other networks but right now I only get two of the many local channels in my broadcast area.

9. Better options – We are at the start of the golden age of TV streaming: Netflix, Hulu, HBO Now, Disney (soon), Philo, Rabbit TV Plus, are all offering streaming services, many of them are commercial (advertising) free so if you want a better TV experience there are many options out there for every taste.

10. Commercials – In the modern era of digitization, it is surprising to me that we still can’t have advertising models that are relevant to the viewers. I wouldn’t mind sitting through commercials if they were in any way relevant to the things I like to do: photography, outdoor activities, global travel, etc but sitting through tampon (no need), mortgage (no need), and endless car adverts (no need) in a row makes me want to switch over to Netflix, HBO or Hulu.

I plan on canceling the service as soon as my pre-paid four months are up. The service simply isn’t compelling in any way to keep. Disney plans on starting a streaming service in 2018 and they own a great deal of content. I hope they offer a commercial free version of their service because that package will round out my Netflix, Hulu and HBO Now. Ironically, I’m probably paying the same amount that I would for standard cable TV but I don’t have to sit and watch commercials nor do I have to subsidize channels like ESPN 1-20. I simply pay for what I want to watch and that’s the way it should be.

If you want an Apple TV 4k, try the service out but remember to cancel it if it doesn’t work out for you!

Here is an important travel lesson learned.  I was planning on flying to Europe from the U.S. this week and my flight was cancelled due to mechanical issues. This flight was on United and they did offer me a $300 travel voucher for my inconvenience but under EU rules for EU based airlines I would have been entitled to 600 euros ($700) in CASH compensation for my inconvenience.

Think about this – you receive horrible service from an airline and the compensation you get is a voucher to get right back the same horrible service airline?

The alternative – get on an EU based airline and if they screw up, you get $700 cash to apply that to any airline, ship line, train line, or even an Uber to get to your final destination.

Which model makes the most sense for the public?  Which model is going to encourage the airline to work harder and better on behalf of the customer?

At this point, I am hard pressed to understand why I should ever fly on United, American, Delta or any other U.S. based carrier to Europe over an EU one?

Why don’t EU airlines advertise this as their business model?  “If we make you late, we pay you!”   That one consideration alone is enough to make me want to fly EU airlines over US airlines any day of the week!

If you are planning a trip to Europe, here are some EU based airlines you should consider and remember to book your flight on the European side of the website and not the U.S. side.   Oh and if you’re worried about earning frequent flier miles, most airlines have partnerships with EU ones that will count your mileage but read the fine print.





Yesterday I wrote about the abysmal state of retail affairs and I wrote mostly about my personal experience but I also wanted to cover another topic on why I think retail is suffering.  A few years ago, I cut the cord and switched most of my TV viewing habits primarily to three mediums: Netflix, Hulu, Amazon Prime.  I frequently alternate between HBO and Showtime when new seasons of my favorite shows start so that’s technically a fourth.

Initially, my wife and kids mostly watched Hulu but begged me to get rid of the commercials so I paid the extra money to avoid commercials.   It didn’t occur to me then but it did hit me recently with this thought.   As my kids began watching commercial free TV, they also demanded less and less products.    Over the last three years, I can’t think of a single thing that my kids have asked for me to buy them aside from Apple products.    Long gone are the days where they watch a TV commercial and say, “I want one of those.”

It’s not just my kids though, I too  haven’t seen too many commercials either.   And I not only avoid commercials on TV, I also have numerous ad-blockers on my computers and electronic devices that I rarely see an ad.   I mostly listen to Spotify now and it is also commercial free – no more radio ads for me.   I recently got a new computer at work and it did not come pre-loaded with ad-blockers and I was shocked to see so many ads on web pages!    I was even tempted to buy some items that were deeply discounted but they disappeared as soon as I loaded the ad-blockers!

Yesterday, I wrote about the retail “ecosystem” and it occurred to me that the “ecosystem” also includes advertisements but in this case ads are an inverse reaction to successful retail.   Combine the horrible retail experience with ad-blocking TV, Music, Internet and it’s not too hard to figure out why retail is suffering tremendously.

I am going to share a secret with you, it has been over 3 years since I’ve set foot in a traditional retail store.  I do almost all of my shopping on Amazon and the only two other places that I visit occasionally are the grocery store and Costco.   The grocery store I visit almost weekly however Costco I now only visit about once a month at best.

So what’s wrong with retail?   Let me tell ya!

Problem #1 – The Experience

The premise of the retail store is to go out and acquire something you need.   Perhaps the retail experience long ago was also a way to socialize but I wouldn’t know because that must have been decades and decades ago.   So what kind of retail experience exists now?   Well first I have to get into my car and drive to a retail store.  With an ever increasing number of cars being added to the roadways, this means I have to sit in smog for a good 20 to 40 minutes depending on which retail store I am headed to but that’s not the worse part.   Next, I spend quite a bit of time driving around looking for a parking space.   I know what you’re thinking, I’m the kind of guy that waits for a nearby space so I don’t have to walk far but that’s wrong.   I usually take the first parking space I see no matter how close or far from the store but lately there are no parking spaces anywhere near retail shops except of course Sears.  After wasting time in traffic then at the parking lot, I then waste even more time walking down aisles looking for what I need.   I don’t bother shopping for clothes anymore at retail stores because they never have anything in my size – NEVER!    What ever happened to the promise of being measured once then having custom clothes made for you and delivered to your door?    If I do find something I need, I then have to wait for a cashier to ring up my purchases and there is almost always someone in front of me arguing with the cashier about a coupon, rebate, discount, or some other dumb items that will save them a couple of dollars on some stupid item they are purchasing.


Problem #2 – Crime

If you live in a big city, you know that on any given day your chances of being robbed or shot are better than winning the lottery.   Nothing is a bigger magnet to criminals than retail stores because criminals know people that are entering these shops likely have money or credit cards worthy of stealing.   Why should I risk my life to go buy a shirt or pair of pants when Amazon can deliver them to my door in a couple of days?


Problem #3 – Retail has become Lazy

When was the last time you saw any real innovation at a retail store?   Sure Starbucks offers free WiFi but why hasn’t every retail store setup WiFi hotspots?   Why do retail clothing stores prefer to stock items that may or may not fit people well instead of investing in scanning/measuring technology for custom built clothes?  It can’t be that hard to put a shirt or pants together can it?    Do you want to know where I get my clothes from now?   I had a tailor come out and take measurements then he flew to Hong Kong, had my clothes made then brought them back.  I paid $100 for each shirt and a few thousand for some suits.   Everything fits great so why can’t someone bring this to a larger scale?   It’s amazing that I ended up sending $6000 to Hong Kong when I wish I could have spent that money in the U.S. but retail is clueless!

At least Walmart is trying to change and bringing some minor innovation about 10 years too late but they still want you to go pick up items at their stores which doesn’t solve Problem #2.


The most successful companies think in terms of ecosystems.  Apple sells iPhones but then sells music to play on iphones, then sells apps to use on iPhones, then sells movies to watch on iPhone, then sells laptops and ipads to view/use your content on different platforms.

Retail stores need to think of their customer as an iPhone.  Take my measurements then make custom products around what I need.  If you make me a custom shirt and pants then you can sell me a belt, then shoes, then socks and underwear.  But why stop there?  Now that you have my measurements, why not sell me a backpack or suitcase that fits my needs and size?   If you know that I like to play tennis, why not extend those sales to sports clothing and sports gear?   Why not then sell me luggage that can fit all of my clothing items?   All of these items eventually wear out and I need to buy them again so this means repeat purchases – GASP!

What’s that?  Your retail business model is to sell shoes only and not the “ecosystem”?  Well good luck staying in business because your main competitor right now is Amazon and I can pretty much buy anything there and it  has a fairly large ecosystem.   I’m just waiting for Jeff Bezos to send someone to my house to take my measurements so I can order custom clothes, I know it will happen someday.

If you haven’t seen the brutal video of a passenger on United being beaten to force him to give up his seat then you must have been hiding under a rock but that’s not what I want to talk about. I’ve read countless twitter posts, articles and opinions on this issue but no one has pointed out the simple and obvious solution to this problem to avoid it from ever getting to this point. What is that you ask?

All United needs to do is to add a simple tick box to their site when booking a flight that asked the question, “Are you willing to give up your seat for compensation if we are overbooked?” If no one had ticked the box, United would know that this is a full flight and no one is willing to give up their seats WAY BEFORE anyone shows up to the airport or boards the plane! The gate agent and flight crew would have PLENTY of time to figure out alternative arrangements for their employees and even other standby passengers.

Let’s face a simple reality here, some passengers have critical events or activities they are traveling from point A to point B for and simply can’t miss that flight (weddings, funerals, graduations, etc). I am one of those people that would never give up his seat for compensation as I fly mostly for business. I get paid about $200/hour so if I’m delayed 4 hours, the delay costs my employer $800. Delay me 12 or 24 hours and that cost escalates from $2400 to $4800. The $1300 cap on compensation automatically puts me OUT of the running to give up my seat. I imagine the doctor in this incident also falls into that “high earner” category and the $800 meant little to nothing for him as it does to me. Eight hundred dollars is 4 hours worth of work for me, why would I give up my seat for this? Of course there are plenty of people that would jump at the chance at getting $800 or $1300 but this may have been a scenario where perhaps many high earners were on board and simply wanted to get to their destination. Contrast this with a minimum wage earner making $8/hr that would earn $32 over a four hour period, the $800 is a very attractive offer.

Perhaps United should use credit scores or net worth of its passengers to ascertain who is likely to want to get bumped. If they knew this about me, they would know not to bother asking. Why can’t United data mine from Facebook and figure out that Sally in seat 10B is going to her sister’s wedding in Louisville and won’t give up her seat? Or that Grandma is seat 11a is on a once in a lifetime vacation and can’t give up her seat?

In a day and age when we have iphones and apps for every conceivable scenario it is remarkable that airlines still can’t figure out that a flight is full and people on that flight aren’t interested in giving up their seats way before the flight even boards!

If this tick box existed on booking of this flight and someone had selected it then United should have known exactly who to offer compensation to right off the bat. Actually, United should get really smart and start letting people pre-bid on getting bumped – I’d put my self on the list for $7500 and up for a domestic flight and $20,000 for an international flight. So if I’m flying from New York to London and United wants my seat, they can come to me when they’re ready to pay 20k for that seat.

I know what you’re thinking..it’ll be too expensive to implement all of this but considering that United at one point today lost $700 million in market value, I don’t think they can afford not to do it!

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