Episode 80: Underhanded tactics of Chinese to list and sell more products than Americans on Amazon
Chinese sellers use underhanded tactics to outsmart Amazon and outperform American sellers. Multiple account creations, fake product reviews, and sabotage listings are among the tactics they use. 65% of Amazon’s third-party sellers are Chinese while only 34% are Americans and 92% of goods Americans buy come from China. As a result, Chinese products are in almost every single household in America.
Most of the products Americans buy from Amazon come from China.
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses how Chinese sellers outsmart Amazon and outperform American sellers.
Amazon offers the Chinese government the best cross-border e-commerce platform to sell Chinese goods worldwide, especially in the United States.
A 2022 research by the Ecomcrew revealed that 65% of Amazon third-party sellers are Chinese while just 34% are Americans. That research also showed that 95% of products listed on Amazon came from China.
Chinese sellers outperform and outsmart American sellers who sell the same products as they do. This means that everything Americans buy to eat, wear, and decorate their house is made in China or with products made in China.
Chinese sellers apply heinous strategies to manipulate how products appear on consumers’ deals of the day and recommended list feeds.
A Chinese seller may create several accounts selling the same items and sometimes slightly different prices. When consumers search for a specific product, such a product shows up many times on their page, but it is being sold by the same seller. Reviews play a significant role in helping consumers decide to purchase or continue shopping. After Chinese sellers sell their products, the same seller logs onto the different accounts he manages to post reviews.
In addition to creating multiple accounts to sell the same products and leaving fake product reviews, Chinese sellers also give consumers free products to post, in exchange, a positive review of these products. They also pay regular consumers between $3 and $5 to post product reviews.
Research showed that at least 60% of reviews of Amazon products are fake and left by sellers posing as buyers, paid customers, or customers who have never used these products.
Amazon operates under a community distribution principle: once a listing is public, any seller can edit it. Not widely popular across the platform, but sometimes Chinese sellers sabotage other sellers’ listings by altering their description and their pricr or by adding a not-so-clickbait or an inaccurate product photo.
In December 2018, I was among these confused customers who saw a picture of a PlayStation 4 when looking for Yoga balls. I know a friend who thought she was buying a PlayStation 4 for her son but ended up receiving a Yoga ball instead.
Chinese sellers hack and manipulate Amazon search and product listing pages to have their products appear first to the customers over the listings of American sellers showcasing the same products.
Can we, as consumers, do anything about that? Not really, because we will always continue buying Chinese goods from Amazon. It is on Jeff Besos to identify and delete duplicate accounts and secure his platform.
In summary, Chinese sellers have been using various tactics, such as creating multiple accounts to sell the same products and leaving fake product reviews to increase their presence on Amazon. They also give consumers free products in exchange for positive reviews and pay regular consumers to post reviews for their products. Research has found that at least 60% of reviews of Amazon products are fake. In addition, Chinese sellers have been manipulating Amazon search and product listing pages to have their products appear first to the customers. This has caused confusion among consumers, as well as negatively impacted the listings of American sellers. As consumers, little can be done about this situation, and the responsibility lies with Amazon and Jeff Bezos to identify and delete duplicate accounts and secure the platform.
Bobb Rousseau, PhD
Apostrophe Podcast
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses how Chinese sellers outsmart Amazon and outperform American sellers.
Amazon offers the Chinese government the best cross-border e-commerce platform to sell Chinese goods worldwide, especially in the United States.
A 2022 research by the Ecomcrew revealed that 65% of Amazon third-party sellers are Chinese while just 34% are Americans. That research also showed that 95% of products listed on Amazon came from China.
Chinese sellers outperform and outsmart American sellers who sell the same products as they do. This means that everything Americans buy to eat, wear, and decorate their house is made in China or with products made in China.
Chinese sellers apply heinous strategies to manipulate how products appear on consumers’ deals of the day and recommended list feeds.
A Chinese seller may create several accounts selling the same items and sometimes slightly different prices. When consumers search for a specific product, such a product shows up many times on their page, but it is being sold by the same seller. Reviews play a significant role in helping consumers decide to purchase or continue shopping. After Chinese sellers sell their products, the same seller logs onto the different accounts he manages to post reviews.
In addition to creating multiple accounts to sell the same products and leaving fake product reviews, Chinese sellers also give consumers free products to post, in exchange, a positive review of these products. They also pay regular consumers between $3 and $5 to post product reviews.
Research showed that at least 60% of reviews of Amazon products are fake and left by sellers posing as buyers, paid customers, or customers who have never used these products.
Amazon operates under a community distribution principle: once a listing is public, any seller can edit it. Not widely popular across the platform, but sometimes Chinese sellers sabotage other sellers’ listings by altering their description and their pricr or by adding a not-so-clickbait or an inaccurate product photo.
In December 2018, I was among these confused customers who saw a picture of a PlayStation 4 when looking for Yoga balls. I know a friend who thought she was buying a PlayStation 4 for her son but ended up receiving a Yoga ball instead.
Chinese sellers hack and manipulate Amazon search and product listing pages to have their products appear first to the customers over the listings of American sellers showcasing the same products.
Can we, as consumers, do anything about that? Not really, because we will always continue buying Chinese goods from Amazon. It is on Jeff Besos to identify and delete duplicate accounts and secure his platform.
In summary, Chinese sellers have been using various tactics, such as creating multiple accounts to sell the same products and leaving fake product reviews to increase their presence on Amazon. They also give consumers free products in exchange for positive reviews and pay regular consumers to post reviews for their products. Research has found that at least 60% of reviews of Amazon products are fake. In addition, Chinese sellers have been manipulating Amazon search and product listing pages to have their products appear first to the customers. This has caused confusion among consumers, as well as negatively impacted the listings of American sellers. As consumers, little can be done about this situation, and the responsibility lies with Amazon and Jeff Bezos to identify and delete duplicate accounts and secure the platform.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 79: FedNow will be like Zelle but not like CashApp, Paypal, or Venmo
CashApp, PayPal, and Venmo are Automated Clearing House (ACH) whereas Zelle is Real-Time Processing (RTP).
Hello, I am Bobb Rousseau and this is Apostrophe Podcast. Today I present FedNow, an upcoming new platform for online payments.
But first, let me tell you the steps that take place when we send or receive payments via CashApp, Venmo, Paypal, or Zelle.
When friends send you money via CashApp, PayPal, or Venmo, they put that money, not into your bank account, but into a business account owned by CashApp, PayPal, or Venmo. Then, CashApp, PayPal, or Venmo send the money to your bank, your bank deposits that money into your account and after several hours or within three business days, the money is available on your account.
Conversely, when we send or receive money via Zelle, there is no third-party payment system involved because Zelle is linked directly to the sender and the receiver’s bank account. Senders deposit the money directly into the recipient’s accounts and the money is available in real-time, instantly, or without lags.
Now, let me explain to you the types of payment platforms that CashApp, PayPal, and Venmo use as compared to Zelle.
CashApp, PayPal, and Venmo are Automated Clearing House (ACH) whereas Zelle is Real-Time Processing payments (RTP). To send and deduct automatic payments, ACH requests account and routing numbers. It also asks recipients to link their debit card to their profile. ACH transfers funds into checking and savings accounts within three days. However, it transfers funds into debit cards instantly for a fee. Instant deposits are loans that CashApp, Venmo and PayPal make out to recipients and the 1% is the fee that users pay for that loan. When sending payments through ACH, the banks withdraw the funds instantly from the requester’s account but those funds are not instantly available on receivers’ accounts.
In contrast, RTP requires users to login to their bank system to enable the icon to their profile. The recipients do not provide their account and routing numbers. RTPs like Zelle do not process bill payments, clear checks, or receive direct deposits. However, it processes funds instantly without a fee. Both ACH and RTP are private financial platforms.
Finally, let me tell you what FedNow is
The Federal Reserve; the United States central bank, will launch FedNow this July. This will make it a government sponsored platform. FedNow will do the same thing Zelle, CashApp, PayPal, and Venmo do, except it will process wires, check deposits, store refunds, and weekend and after-hour deposits instantly, faster, and more efficiently. Consumers will no longer have to wait 72 hours for their checks to clear or for payments to be available on their accounts.
So what’s in it for consumers who will be using FedNow?
Once all the rolling phases are completed and banks agree to use it, the FedNow icon will appear on users’ accounts the same as Zelle does. Recipients who enable it will transfer funds and receive payments and store refunds within seconds. Banks will also process bill payments and clear checks instantly, which in turn will reduce overdrafts and bounced checks. Consumers who sign up for FedNow should ensure they have money in their account before paying their bills or transfering funds to external accounts. Otherwise, transactions will be rejected instantly.
In summary, FedNow will take banking to the next level by placing instant payments at consumers’ fingertips. It will process check deposits, store refunds, and weekend and after-hour deposits instantly and more efficiently than other payment platforms such as Zelle, CashApp, PayPal, and Venmo. When compared to these services, FedNow will deploy a functionality that will allow users to receive funds in real time or as they are being sent. Moreover, the platform will eliminate overdrafts and bounced checks and make store refunds available within seconds. To use the platform, consumers must link their bank accounts to FedNow and ensure they have sufficient funds before sending payments or paying bills.
Bobb Rousseau, PhD
Apostrophe Podcast
But first, let me tell you the steps that take place when we send or receive payments via CashApp, Venmo, Paypal, or Zelle.
When friends send you money via CashApp, PayPal, or Venmo, they put that money, not into your bank account, but into a business account owned by CashApp, PayPal, or Venmo. Then, CashApp, PayPal, or Venmo send the money to your bank, your bank deposits that money into your account and after several hours or within three business days, the money is available on your account.
Conversely, when we send or receive money via Zelle, there is no third-party payment system involved because Zelle is linked directly to the sender and the receiver’s bank account. Senders deposit the money directly into the recipient’s accounts and the money is available in real-time, instantly, or without lags.
Now, let me explain to you the types of payment platforms that CashApp, PayPal, and Venmo use as compared to Zelle.
CashApp, PayPal, and Venmo are Automated Clearing House (ACH) whereas Zelle is Real-Time Processing payments (RTP). To send and deduct automatic payments, ACH requests account and routing numbers. It also asks recipients to link their debit card to their profile. ACH transfers funds into checking and savings accounts within three days. However, it transfers funds into debit cards instantly for a fee. Instant deposits are loans that CashApp, Venmo and PayPal make out to recipients and the 1% is the fee that users pay for that loan. When sending payments through ACH, the banks withdraw the funds instantly from the requester’s account but those funds are not instantly available on receivers’ accounts.
In contrast, RTP requires users to login to their bank system to enable the icon to their profile. The recipients do not provide their account and routing numbers. RTPs like Zelle do not process bill payments, clear checks, or receive direct deposits. However, it processes funds instantly without a fee. Both ACH and RTP are private financial platforms.
Finally, let me tell you what FedNow is
The Federal Reserve; the United States central bank, will launch FedNow this July. This will make it a government sponsored platform. FedNow will do the same thing Zelle, CashApp, PayPal, and Venmo do, except it will process wires, check deposits, store refunds, and weekend and after-hour deposits instantly, faster, and more efficiently. Consumers will no longer have to wait 72 hours for their checks to clear or for payments to be available on their accounts.
So what’s in it for consumers who will be using FedNow?
Once all the rolling phases are completed and banks agree to use it, the FedNow icon will appear on users’ accounts the same as Zelle does. Recipients who enable it will transfer funds and receive payments and store refunds within seconds. Banks will also process bill payments and clear checks instantly, which in turn will reduce overdrafts and bounced checks. Consumers who sign up for FedNow should ensure they have money in their account before paying their bills or transfering funds to external accounts. Otherwise, transactions will be rejected instantly.
In summary, FedNow will take banking to the next level by placing instant payments at consumers’ fingertips. It will process check deposits, store refunds, and weekend and after-hour deposits instantly and more efficiently than other payment platforms such as Zelle, CashApp, PayPal, and Venmo. When compared to these services, FedNow will deploy a functionality that will allow users to receive funds in real time or as they are being sent. Moreover, the platform will eliminate overdrafts and bounced checks and make store refunds available within seconds. To use the platform, consumers must link their bank accounts to FedNow and ensure they have sufficient funds before sending payments or paying bills.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 78: Reducing Americans’ reliance on Chinese goods
65% of third-party sellers on Amazon are Chinese, while only 34% are Americans; 92% of whom purchase their listed goods from China. Since Amazon is the premier store for many American buyers, Chinese goods are in almost every single household in America, leading to the American people becoming reliant on Chinese products.
By enabling the Chinese to become third-party sellers on Amazon, Jeff Besos contributes to the reliance of American households on Chinese goods and, ultimately, the decline of the American economy.
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode explains how China controls the economic well-being of the American people and subsequently, the American economy. Without further ado, let’s begin.
Sixty five percent of third-party sellers on Amazon are Chinese, while only 34% are Americans; 92% of whom purchase their listed goods from China. Since Amazon is the premier store for many American buyers, Chinese goods are in almost every single household in America, leading to the American people becoming reliant on Chinese products.
Since 2001, The United States has been an open market for “Made in China” products. American businesses purchase Chinese goods to return larger profits when selling them over American goods. Such a financial approach empowers China to increase the volume of goods it sends to the U.S. In case you did not know, 75% of goods that Americans consume are made in China or with products coming from China.
According to the UN COMTRADE database, in 2022, the United States imported $600B worth of goods from China. Granted that Chinese exported products are cheaper than American products; however, the more goods the United States imports from China, the more significant opportunity China has to widen its global economic standing and deepen the United States trade deficit.
The U.S. government lets China’s illegal importation run wild without any consequences. America’s good-faith, diplomacy, and arbitration efforts are ineffective in correcting Beijing’s unlawful trading practices.
It is time for America to apply economic warfare to decouple its trade relations with China. The U.S must take action to order compliance to reverse the Chinese impact on national production. To regain economic freedom, the United States must enact tariffs and quota policies for goods coming from China. This will require the U.S to place an additional tax and limit the amount of goods coming from China. These policies will make domestically produced goods more competitive as the government sets a fixed rate and a fixed quantity of Chinese goods to enter the American market yearly.
Agreed that tariffs and quotas may have unintended consequences on consumer consumption such as shortages and inflation, mainly if tariffs are set too high and quotas too low. This is why the government would invest, fund, and establish supply and demand baselines for the production and manufacturing of products Americans consume the most.
In summary, China applies unfair international trade practices to control the economic well-being of the American people. The U.S. attempted diplomacy and arbitration to correct them, but these efforts have proven ineffective. To reduce the flow of Chinese goods in the American market, the U.S. government must place additional tax and limit the amount of goods coming from China.
Bobb Rousseau, PHD
Apostrophe Podcast
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode explains how China controls the economic well-being of the American people and subsequently, the American economy. Without further ado, let’s begin.
Sixty five percent of third-party sellers on Amazon are Chinese, while only 34% are Americans; 92% of whom purchase their listed goods from China. Since Amazon is the premier store for many American buyers, Chinese goods are in almost every single household in America, leading to the American people becoming reliant on Chinese products.
Since 2001, The United States has been an open market for “Made in China” products. American businesses purchase Chinese goods to return larger profits when selling them over American goods. Such a financial approach empowers China to increase the volume of goods it sends to the U.S. In case you did not know, 75% of goods that Americans consume are made in China or with products coming from China.
According to the UN COMTRADE database, in 2022, the United States imported $600B worth of goods from China. Granted that Chinese exported products are cheaper than American products; however, the more goods the United States imports from China, the more significant opportunity China has to widen its global economic standing and deepen the United States trade deficit.
The U.S. government lets China’s illegal importation run wild without any consequences. America’s good-faith, diplomacy, and arbitration efforts are ineffective in correcting Beijing’s unlawful trading practices.
It is time for America to apply economic warfare to decouple its trade relations with China. The U.S must take action to order compliance to reverse the Chinese impact on national production. To regain economic freedom, the United States must enact tariffs and quota policies for goods coming from China. This will require the U.S to place an additional tax and limit the amount of goods coming from China. These policies will make domestically produced goods more competitive as the government sets a fixed rate and a fixed quantity of Chinese goods to enter the American market yearly.
Agreed that tariffs and quotas may have unintended consequences on consumer consumption such as shortages and inflation, mainly if tariffs are set too high and quotas too low. This is why the government would invest, fund, and establish supply and demand baselines for the production and manufacturing of products Americans consume the most.
In summary, China applies unfair international trade practices to control the economic well-being of the American people. The U.S. attempted diplomacy and arbitration to correct them, but these efforts have proven ineffective. To reduce the flow of Chinese goods in the American market, the U.S. government must place additional tax and limit the amount of goods coming from China.
Bobb Rousseau, PHD
Apostrophe Podcast
Episode 77: The values of $100,000 today, next year, and the years after that
Investors having the opportunity to receive $100K today or receive it next month with an expected 5% return will take it now because they can do more with it now than they can do next month.
Retired people do not have the same lifestyle they had before their retirement. It is not because they did not save enough money; but because prices of goods and services change cumulatively as their savings face the harsh reality of a financial concept called Time Value of Money.
Hello, I am Dr. Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses the Time Value of money. More importantly, it shows how $100K spent or invested today is worth more today than when spent or invested in the future.
Investors having the opportunity to receive $100K today or receive it next month with an expected 5% return will take it now because they can do more with it now than they can do next month. Moreover, having the opportunity to invest that money today with an expected return of 10% next week or invest it next week with an expected return of 15% over the following week, entrepreneurs will invest today because the opportunity cost of waiting is too high.
Suppose you have two options to claim $100,000: Take the lump sum today or put it in a 3% interest bearing savings account for two years. Before making financial decisions, investors evaluate the opportunity costs or the cost of waiting. Opportunity cost posits that the best time to invest or spend money is today because money is worth more now than it will be in the future.
If you chose option 1, $100K today is worth $100K. If you select option two, with a supposed inflation rate of 3% each year, in 2025, you will need $106K to have the lifestyle you could have had today if you had selected option 1. Since your bank would add $3,000 to your $100K in 2025, you will have to come up with $3,090 to beat or adjust to the 6% inflation rate.
Inflation rates will continue to decrease the value of your $100K and therefore, will impact your buying power. By the end of the year, your $100K will be worth $97,000, $95,000 in 2024, and $92,000 in 2025.
To ensure the money on your savings beats inflation, consider increasing your yearly deposits by the current inflation rate. For example, if this year, you save $2500, next year, add $75 more to your savings if the inflation rate is 3%. The higher the inflation rate; the more you should save to be able to keep your current lifestyle.
In summary, I discussed the Time Value of Money concept. The Time Value of Money concept states that money is worth more today than in the future due to inflation. I then ask whether it is better to take the $100,000 today or open a savings account with it for two years with a 3% APR. Taking the money now is the better option due to the opportunity cost of waiting and the fact that money loses value over time due to inflation. To beat inflation, people should increase their deposits yearly by the current inflation rate.
Bobb Rousseau, PhD
Apostrophe Podcast
Hello, I am Dr. Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses the Time Value of money. More importantly, it shows how $100K spent or invested today is worth more today than when spent or invested in the future.
Investors having the opportunity to receive $100K today or receive it next month with an expected 5% return will take it now because they can do more with it now than they can do next month. Moreover, having the opportunity to invest that money today with an expected return of 10% next week or invest it next week with an expected return of 15% over the following week, entrepreneurs will invest today because the opportunity cost of waiting is too high.
Suppose you have two options to claim $100,000: Take the lump sum today or put it in a 3% interest bearing savings account for two years. Before making financial decisions, investors evaluate the opportunity costs or the cost of waiting. Opportunity cost posits that the best time to invest or spend money is today because money is worth more now than it will be in the future.
If you chose option 1, $100K today is worth $100K. If you select option two, with a supposed inflation rate of 3% each year, in 2025, you will need $106K to have the lifestyle you could have had today if you had selected option 1. Since your bank would add $3,000 to your $100K in 2025, you will have to come up with $3,090 to beat or adjust to the 6% inflation rate.
Inflation rates will continue to decrease the value of your $100K and therefore, will impact your buying power. By the end of the year, your $100K will be worth $97,000, $95,000 in 2024, and $92,000 in 2025.
To ensure the money on your savings beats inflation, consider increasing your yearly deposits by the current inflation rate. For example, if this year, you save $2500, next year, add $75 more to your savings if the inflation rate is 3%. The higher the inflation rate; the more you should save to be able to keep your current lifestyle.
In summary, I discussed the Time Value of Money concept. The Time Value of Money concept states that money is worth more today than in the future due to inflation. I then ask whether it is better to take the $100,000 today or open a savings account with it for two years with a 3% APR. Taking the money now is the better option due to the opportunity cost of waiting and the fact that money loses value over time due to inflation. To beat inflation, people should increase their deposits yearly by the current inflation rate.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 76: Payoff your loans early while saving on interest rate payments
Banks tell us that there is no penalty for paying off our loans early, but they don’t tell us that there are financial rewards for doing so.
Banks tell us that there is no penalty for paying off our loans early, but they don’t tell us that there are financial rewards for doing so.
Hello. I am Bobb Rousseau and this Apostrophe Podcast.This episode discusses pay off and interest rates. Most importantly it shows a technique to be financially rewarded when we pay off loans early. Without further ado, let’s dive right into it.
But first, your credit score does not necessarily drive your interest rate. When purchasing a vehicle, your interest rate relates to the year, the category, and the vehicle’s mileage. With a 740 credit score, a 2014 Toyota Celica will have a higher interest rate than a 2020 Toyota Celica with the same mileage. A 2019 Honda Civic with 40.000 miles will have a lower interest rate than a 2019 Honda Civic with 85 000 miles. The interest rate for a 2014 Cadillac ELR will be higher than that of a 2023 Ford Focus because a 2014 Cadillac is considered both a luxury car and a classic vehicle.
There is no such thing as getting a good deal when we take out a loan to finance our car. Dealerships will never sell you at a loss. We may have a better deal than our friends but our deal will not be better than that of the bank. When we pay cash or finance with 0% interest for six or 18 months, we simply spend less than our friends who finance with interest.
I hear people bragging about paying off their vehicle six months early. Listen, if they did not save at least $100, they made a bad financial decision. Let me show you now how to avoid doing like these people.
Because of interest rates, we will always pay more than the actual value of the item we purchased. For example, you buy a vehicle for $25,000 with a 12% interest rate for 60 months with a monthly payment of $600. At the end of the contract, your total cost will be nearing $30.000.
If you still owe on your vehicle, grab your cell phone and follow along. Open your calculator to divide your monthly car note by 12. Using the numbers for the example above, it is 600/12 and the ratio is 50. Remember this number, as you will need it for the rest of the podcast.
Open Google and type Auto loan payoff calculator. Click on any of the links, and follow the instructions on the screen. On the “What is your additional monthly payment” field, enter 50; the number I had from dividing my monthly car note by 12, and click on Calculate. Fifty dollars represent how much more I am willing to pay to save on interest payments and shorten my loan term agreement.
Increasing your monthly payments by $50 shortens your loan term by six months and saves you $970.79 in interest payments. Paying off your car loan early allows you to get back what you would’ve paid in interest. You will end up paying the vehicle about $28.000 instead of $30.000. The higher your additional monthly payments, the more you save on interest rate and the shorter the loan term. Before starting to make additional payments, call your bank to tell them to apply the payments toward the principal, not toward the actual payoff amount. Otherwise, you will be ahead of your payments without saving anything.
In summary, this episode outlines how to pay off a loan early and get financially rewarded. It explains that credit score does not always dictate the interest rate and that paying cash or taking out a loan with 0% interest is still costly at the end of the contract. It then provides an example of a loan for a vehicle and shows how to use an auto loan payoff calculator to calculate the potential savings from paying off the loan early. By making additional payments of $50, it explains that the loan term can be shortened by six months and that about $1000 in interest payments can be saved. The more additional payments made, the greater the savings and the shorter the loan term.
Bobb Rousseau, PhD
Apostrophe Podcast
Hello. I am Bobb Rousseau and this Apostrophe Podcast.This episode discusses pay off and interest rates. Most importantly it shows a technique to be financially rewarded when we pay off loans early. Without further ado, let’s dive right into it.
But first, your credit score does not necessarily drive your interest rate. When purchasing a vehicle, your interest rate relates to the year, the category, and the vehicle’s mileage. With a 740 credit score, a 2014 Toyota Celica will have a higher interest rate than a 2020 Toyota Celica with the same mileage. A 2019 Honda Civic with 40.000 miles will have a lower interest rate than a 2019 Honda Civic with 85 000 miles. The interest rate for a 2014 Cadillac ELR will be higher than that of a 2023 Ford Focus because a 2014 Cadillac is considered both a luxury car and a classic vehicle.
There is no such thing as getting a good deal when we take out a loan to finance our car. Dealerships will never sell you at a loss. We may have a better deal than our friends but our deal will not be better than that of the bank. When we pay cash or finance with 0% interest for six or 18 months, we simply spend less than our friends who finance with interest.
I hear people bragging about paying off their vehicle six months early. Listen, if they did not save at least $100, they made a bad financial decision. Let me show you now how to avoid doing like these people.
Because of interest rates, we will always pay more than the actual value of the item we purchased. For example, you buy a vehicle for $25,000 with a 12% interest rate for 60 months with a monthly payment of $600. At the end of the contract, your total cost will be nearing $30.000.
If you still owe on your vehicle, grab your cell phone and follow along. Open your calculator to divide your monthly car note by 12. Using the numbers for the example above, it is 600/12 and the ratio is 50. Remember this number, as you will need it for the rest of the podcast.
Open Google and type Auto loan payoff calculator. Click on any of the links, and follow the instructions on the screen. On the “What is your additional monthly payment” field, enter 50; the number I had from dividing my monthly car note by 12, and click on Calculate. Fifty dollars represent how much more I am willing to pay to save on interest payments and shorten my loan term agreement.
Increasing your monthly payments by $50 shortens your loan term by six months and saves you $970.79 in interest payments. Paying off your car loan early allows you to get back what you would’ve paid in interest. You will end up paying the vehicle about $28.000 instead of $30.000. The higher your additional monthly payments, the more you save on interest rate and the shorter the loan term. Before starting to make additional payments, call your bank to tell them to apply the payments toward the principal, not toward the actual payoff amount. Otherwise, you will be ahead of your payments without saving anything.
In summary, this episode outlines how to pay off a loan early and get financially rewarded. It explains that credit score does not always dictate the interest rate and that paying cash or taking out a loan with 0% interest is still costly at the end of the contract. It then provides an example of a loan for a vehicle and shows how to use an auto loan payoff calculator to calculate the potential savings from paying off the loan early. By making additional payments of $50, it explains that the loan term can be shortened by six months and that about $1000 in interest payments can be saved. The more additional payments made, the greater the savings and the shorter the loan term.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 75: CBCD: Impact of digital dollar on national security and global trade
The United States government aims to launch a central bank digital currency (CBDC) to digitize the dollar. A digital dollar may protect the nation’s security and facilitate cross-border transactions. The American CBDC will differ from other countries’ CBDCs as it would include other countries that use the dollar as their reserve currency.
Money, whether physical or virtual, is a medium of exchange for goods and services. Governments issue physical currencies through their central bank, whereas private entities issue virtual or cryptocurrencies through blockchain. In recent years, countries have been exploring the idea of a centralized cashless payment system. Thus comes the idea of a Central Bank Digital Currency (CBDC) to transform physical currencies into a digital form that people can still virtually use anywhere, just like physical cash.
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. In today’s episode, I discuss the central bank’s digital currency approach and how it may help the United States keep its economic and geopolitical dominance of the global financial system.
First, let me explain what the Central Bank Digital Currency is and what it intends to accomplish.
Think how you use your money right now to purchase goods and services or to receive and send money; CBDC will not change that, except that the dollar will be digital. Your country’s central bank, not your traditional bank, will track and trace your record of transactions. Several countries have already launched their CBCD. Some examples include China’s Digital Yuan, the Bahamas’ Sand Dollar, and the Eastern Caribbean Central Bank’s DCash. Early adopters of CBDC see more efficient transactions, increased financial inclusion, and reduced costs associated with cash handling.
Digital currencies will neither replace cash nor will they compete with cryptocurrencies. The dollar will be digital does not mean it will be a cryptocurrency. So is because, compared to Bitcoin, Ethereum, and other cryptos, it will remain centralized as a central authority issues and regulates it. On the other hand, cryptocurrency is decentralized, without any governing body, giving users more control.
The United States is contemplating digitizing the dollar. It seeks to launch a central bank digital currency as a geopolitical and geostrategic approach to protect national security and facilitate cross-border transactions. The U.S. CBDC will be different from that of other countries in the sense it will include other countries that have the dollar as their reserve currency or use the dollar in global trade.
The American government contends that, with a CBDC, the federal reserve will be able to detect homegrown terrorist groups and their financiers as it will be able to track domestic transfers to know who sends money where and to whom. Presently, only commercial banks track consumer banking activities, and they are not required to share consumer information with any other entity, especially the government.
When the United States succeeds in rallying foreign central banks around one centralized financial platform where the digital dollar will be primacy in global trade, it will counter the rise of the BRICS countries seeking to launch a common digital currency or to further a Petro-Yuan deal.
In summary, the United States aims to launch a central bank digital currency (CBDC) to digitize the dollar. A digital dollar may protect the nation’s security and facilitate cross-border transactions. The American CBDC will differ from other countries’ CBDCs as it would include other countries that use the dollar as their reserve currency.
Hello. I am Bobb Rousseau and this is Apostrophe Podcast. In today’s episode, I discuss the central bank’s digital currency approach and how it may help the United States keep its economic and geopolitical dominance of the global financial system.
First, let me explain what the Central Bank Digital Currency is and what it intends to accomplish.
Think how you use your money right now to purchase goods and services or to receive and send money; CBDC will not change that, except that the dollar will be digital. Your country’s central bank, not your traditional bank, will track and trace your record of transactions. Several countries have already launched their CBCD. Some examples include China’s Digital Yuan, the Bahamas’ Sand Dollar, and the Eastern Caribbean Central Bank’s DCash. Early adopters of CBDC see more efficient transactions, increased financial inclusion, and reduced costs associated with cash handling.
Digital currencies will neither replace cash nor will they compete with cryptocurrencies. The dollar will be digital does not mean it will be a cryptocurrency. So is because, compared to Bitcoin, Ethereum, and other cryptos, it will remain centralized as a central authority issues and regulates it. On the other hand, cryptocurrency is decentralized, without any governing body, giving users more control.
The United States is contemplating digitizing the dollar. It seeks to launch a central bank digital currency as a geopolitical and geostrategic approach to protect national security and facilitate cross-border transactions. The U.S. CBDC will be different from that of other countries in the sense it will include other countries that have the dollar as their reserve currency or use the dollar in global trade.
The American government contends that, with a CBDC, the federal reserve will be able to detect homegrown terrorist groups and their financiers as it will be able to track domestic transfers to know who sends money where and to whom. Presently, only commercial banks track consumer banking activities, and they are not required to share consumer information with any other entity, especially the government.
When the United States succeeds in rallying foreign central banks around one centralized financial platform where the digital dollar will be primacy in global trade, it will counter the rise of the BRICS countries seeking to launch a common digital currency or to further a Petro-Yuan deal.
In summary, the United States aims to launch a central bank digital currency (CBDC) to digitize the dollar. A digital dollar may protect the nation’s security and facilitate cross-border transactions. The American CBDC will differ from other countries’ CBDCs as it would include other countries that use the dollar as their reserve currency.
Episode 74: We the jury, find Mr. Donald J. Trump…
This is a work of fiction. The trial of Donald J. Trump has not happened yet. Listen and enjoy the creativity.
Episode 73: See to it that no one misleads you
Social media offers anyone with a smartphone the capability to launch an online platform to inform, educate, influence, and, most of the time, manipulate. A microphone in the hands of these hosts of convenience is more dangerous than a weapon in the hands of a child.
As seen on social media is becoming the new way of staying current with the latest news, technology, and celebrities. People are shaping, living, and planning their future based on what they watch on social networks.
Hello, I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses the rise of social media and how people should protect themselves from misinformation and false propaganda.
Social media offers anyone with a smartphone the capability to launch an online platform to inform, educate, influence, and, most of the time, manipulate. A microphone in the hands of these hosts of convenience is more dangerous than a weapon in the hands of a child.
Social media decentralizes how individuals get their news and allow anyone to push their agenda on an impressionable audience. Such democratization opens a canal for false propaganda, misinformation, defamation, and shade-throwing.
Facebook, TikTok, and YouTube Live have become so prevalent in the broadcasting field that they, hands down, make traditional media platforms look like kindergarteners. Nowadays, to keep listeners engaged, radio stations are investing thousands of dollars and unlimited resources in managing their video channels. “There is no longer radio without images,” one might say.
With the ease of reaching broader audiences comes the challenging responsibility to deliver content that maintains journalism’s integrity or does not communicate offensive or defamatory statements that may harm someone’s reputation.
Few online radio hosts bump against the thin line between reporting factual statements and untrue statements. In contrast, others deliberately act with actual malice to demonstrate a total reckless disregard for others’ reputations. The latter’s goal is not to inform or educate but to create sensation and, ultimately, to feed public opinion with news that seemingly only they can find. They claim they are well connected to have the primacy of the country’s political temperament.
The danger is that they succeed, and in no time, they build a growing network of friends and followers that proudly like, subscribe, retweet, and share their content across other platforms.
Few of them respect the press etiquette and, in many instances, are even better than many big-name veteran radio hosts. Still, the majority are doing a disservice to the profession by fabricating content deprived of good sense and reason, making them fall into the defamation category.
Contrary to traditional radio hosts whose content may engage the actual radio stations, online broadcasters are neither censored nor do they engage their social platforms. Thus, listeners can sift their feeds to ensure they are authentic, reasonable, and utile. Otherwise, we leave the field wide open to cultivate statements that cause more harm than good and transform the microphone into a time-sensitive bomb.
In summary, in this episode, I discussed the power of social media and how it can be used to manipulate and influence people’s behaviors. I emphasized the importance of being aware of the messages we’re receiving on social media, as anyone with a smartphone can be an influencer, and the microphone in their hands can be more dangerous than a weapon in the hands of a child. I pointed out that social media has decentralized how people get their news, and it’s essential to be mindful of the agenda of those pushing their messages on an impressionable audience. I cautioned you to be vigilant and not let anyone mislead us.
Bobb Rousseau, PhD
Apostrophe Podcast
Hello, I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode discusses the rise of social media and how people should protect themselves from misinformation and false propaganda.
Social media offers anyone with a smartphone the capability to launch an online platform to inform, educate, influence, and, most of the time, manipulate. A microphone in the hands of these hosts of convenience is more dangerous than a weapon in the hands of a child.
Social media decentralizes how individuals get their news and allow anyone to push their agenda on an impressionable audience. Such democratization opens a canal for false propaganda, misinformation, defamation, and shade-throwing.
Facebook, TikTok, and YouTube Live have become so prevalent in the broadcasting field that they, hands down, make traditional media platforms look like kindergarteners. Nowadays, to keep listeners engaged, radio stations are investing thousands of dollars and unlimited resources in managing their video channels. “There is no longer radio without images,” one might say.
With the ease of reaching broader audiences comes the challenging responsibility to deliver content that maintains journalism’s integrity or does not communicate offensive or defamatory statements that may harm someone’s reputation.
Few online radio hosts bump against the thin line between reporting factual statements and untrue statements. In contrast, others deliberately act with actual malice to demonstrate a total reckless disregard for others’ reputations. The latter’s goal is not to inform or educate but to create sensation and, ultimately, to feed public opinion with news that seemingly only they can find. They claim they are well connected to have the primacy of the country’s political temperament.
The danger is that they succeed, and in no time, they build a growing network of friends and followers that proudly like, subscribe, retweet, and share their content across other platforms.
Few of them respect the press etiquette and, in many instances, are even better than many big-name veteran radio hosts. Still, the majority are doing a disservice to the profession by fabricating content deprived of good sense and reason, making them fall into the defamation category.
Contrary to traditional radio hosts whose content may engage the actual radio stations, online broadcasters are neither censored nor do they engage their social platforms. Thus, listeners can sift their feeds to ensure they are authentic, reasonable, and utile. Otherwise, we leave the field wide open to cultivate statements that cause more harm than good and transform the microphone into a time-sensitive bomb.
In summary, in this episode, I discussed the power of social media and how it can be used to manipulate and influence people’s behaviors. I emphasized the importance of being aware of the messages we’re receiving on social media, as anyone with a smartphone can be an influencer, and the microphone in their hands can be more dangerous than a weapon in the hands of a child. I pointed out that social media has decentralized how people get their news, and it’s essential to be mindful of the agenda of those pushing their messages on an impressionable audience. I cautioned you to be vigilant and not let anyone mislead us.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 72: Revealing airlines’ strategies to maximize revenues and diminish travel experience
Even if the airlines were to penny away their tickets, they would still have made billions by nickeling and diming every other service we may require before and during our flights. Imagine that we pay more for our ticket, our seats, and our luggage than the travelers sitting next to us although we are going to the same destination.
Travel is a great experience, not while we are on the airplane but while we are at our final destination. Hi. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode shows how the airline industry makes billions of dollars in revenues and subsequently makes our travel experience uninviting, unaffordable, and unenjoyable.
Even if the airlines were to penny away their tickets, they would still have made billions by nickeling and diming every other service we may require before and during our flights. Imagine that we pay more for our ticket, our seats, and our luggage than the travelers sitting next to us although we are going to the same destination.
Airplanes make money by charging us for our baggage. After the first 40 lbs that on average cost $45, luggage fees vary based on each baggage’s weight and length. The heavier and bigger the bags, the higher their prices. Moreover, airlines assess baggage fees based on the amount they budget to fuel the planes. Research shows that bags make airplanes heavier, and the heavier they are, the faster and more fuel they burn, and we, as the travelers, foot their fuel bills when we check our bags.
Another way airlines make money is through seat selection. The perceived value of a seat is based on the location of such a seat. The closer to the front of the plane, the more expensive. When we select our seat, another cost is added to our final airfare. However, the airline assigns seats to those of us who do not select our seats. Seat selection and luggage fees generate up to 87% of an airline’s total revenue.
Whether it is seat selection or seat assignment, we, as travelers, face the same discomfort level. The seat distance gives us no wiggle room to maneuver or stretch our legs, whether we are tall or short or whether we are slim or overweight. Additionally, we fight each other for armrest spaces or kick the back seat of the travelers in front of us for leaning their seat or headrest too close to our kneecaps. I am no psychologist, but crammed seats may be the root cause of unruly and agitated travelers.
In summary, the airline industry has become incredibly profitable. They charge us extra for baggage and seat selections, which generate up to 87% of their total revenue. They reduce the spacing between seats to add more passengers, leading to our travel experience becoming horrible. Practically, our ticket; referred to by many airlines, as bare fare, only covers our body, half of a cup of soda, and a small bag of peanuts; everything else costs a pretty penny.
To avoid these extra fees, we should consider traveling bare, unbundled, or simply using a backpack that fits the laptop, personal hygiene and the clothes we will need throughout our trip. Moreover, before booking, we should research which airlines allow us to have free carry-on or a free first checked luggage.
Bobb Rousseau, PhD
Apostrophe Podcast
Even if the airlines were to penny away their tickets, they would still have made billions by nickeling and diming every other service we may require before and during our flights. Imagine that we pay more for our ticket, our seats, and our luggage than the travelers sitting next to us although we are going to the same destination.
Airplanes make money by charging us for our baggage. After the first 40 lbs that on average cost $45, luggage fees vary based on each baggage’s weight and length. The heavier and bigger the bags, the higher their prices. Moreover, airlines assess baggage fees based on the amount they budget to fuel the planes. Research shows that bags make airplanes heavier, and the heavier they are, the faster and more fuel they burn, and we, as the travelers, foot their fuel bills when we check our bags.
Another way airlines make money is through seat selection. The perceived value of a seat is based on the location of such a seat. The closer to the front of the plane, the more expensive. When we select our seat, another cost is added to our final airfare. However, the airline assigns seats to those of us who do not select our seats. Seat selection and luggage fees generate up to 87% of an airline’s total revenue.
Whether it is seat selection or seat assignment, we, as travelers, face the same discomfort level. The seat distance gives us no wiggle room to maneuver or stretch our legs, whether we are tall or short or whether we are slim or overweight. Additionally, we fight each other for armrest spaces or kick the back seat of the travelers in front of us for leaning their seat or headrest too close to our kneecaps. I am no psychologist, but crammed seats may be the root cause of unruly and agitated travelers.
In summary, the airline industry has become incredibly profitable. They charge us extra for baggage and seat selections, which generate up to 87% of their total revenue. They reduce the spacing between seats to add more passengers, leading to our travel experience becoming horrible. Practically, our ticket; referred to by many airlines, as bare fare, only covers our body, half of a cup of soda, and a small bag of peanuts; everything else costs a pretty penny.
To avoid these extra fees, we should consider traveling bare, unbundled, or simply using a backpack that fits the laptop, personal hygiene and the clothes we will need throughout our trip. Moreover, before booking, we should research which airlines allow us to have free carry-on or a free first checked luggage.
Bobb Rousseau, PhD
Apostrophe Podcast
Episode 71: One cent increased in this basic good reduced your shopping budget by $12
Before your groceries make it to your kitchen or all the way to your toilet after you eat them, they move through a series of logistical steps, including a connected system of organizations, production, and transportation. Each of these steps involves fuel costs that companies pass on to you, the consumers.
Hi. I am Bobb Rousseau and this is Apostrophe Podcast. Today’s episode shows how a one-cent increase in a gallon of gasoline prevents you from buying more or compels you to pay more today for the same basic goods you purchased last week.
But first, let me tell you something I know about you. Before your groceries make it to your kitchen or all the way to your toilet after you eat them, they move through a series of logistical steps, including a connected system of organizations, production, and transportation. Each of these steps involves fuel costs that companies pass on to you, the consumers.
In case you didn’t notice, I just explained to you what logisticians call Supply Chain. Supply Chain involves four main components: Demand Management, Supply Management, Sales and Operations Planning, and Product Portfolio Management.
For that podcast, I focused on Product Portfolio Management because this step includes transportation and delivery of our groceries within 10 miles of our houses so we don’t have to drive 10 hours to purchase them at the manufacturing plant.
Each time you pass by your neighborhood gas station, you see the price of the gallon increasing. Imagine you stop there to fill up your tank. Our tanks do not get any bigger but it costs more and more to fill them up. Even if you don’t drive, these small increases impact how much money you save. It all starts with your trips to the grocery stores. What you could purchase with $100 last week would require $12 more to buy the same items this week. This is because the costs to transport these goods to your neighborhood stores increase due to the price increase of the gallon of gasoline. The prices of the goods you purchase relate to the costs of transportation of these goods to your stores, and the costs of such transportation relate to how much it takes to fuel these big trucks.
Some of us who travel by air see airfare increases. Again, it is all due to an increase in gas prices because when the price of the gallon increases, it costs more to fill up the planes’ tanks and run the different airports’ operations. Rental property companies increase rent prices because, when the cost of the gallon increases, they also pay more to keep the lights running in the lobbies, hallways, and parking lots. Water, internet, and light bills also increase because, adding one cent on the gallon, the municipal electric utilities purchase gasoline at the inflation prices to operate their power plant and guess what; they pass on these costs to you.
When the price of the gallon increases, everything else increases because gasoline is the oil that greases the wheel of supply management. Whether you Uber, have your groceries delivered to your door, or pick up your pizza, your purchasing power decreases a lot.
As you can see, the increase in the price of gasoline, or any other basic good for that matter, profits big companies while taking away chunks of money from our income. Essentially, when the price of gasoline is increased just by one cent; our shopping budget is reduced by $12.
In summary, the increase in the gallon of gasoline has a ripple effect on the prices of goods and services across the board. This is because transportation costs, especially for big trucks, increase when fuel prices increase, increasing the cost of goods. Airfare, rents, water, internet, and electricity bills also increase due to the added cost of gasoline. Essentially, gasoline is the oil that drives the supply management process, and when its price increases, everything else follows suit. As a result, consumers’ purchasing power decreases, and they must pay more for the same goods and services.
Bobb Rousseau, PhD
Host of Apostrophe Podcast
But first, let me tell you something I know about you. Before your groceries make it to your kitchen or all the way to your toilet after you eat them, they move through a series of logistical steps, including a connected system of organizations, production, and transportation. Each of these steps involves fuel costs that companies pass on to you, the consumers.
In case you didn’t notice, I just explained to you what logisticians call Supply Chain. Supply Chain involves four main components: Demand Management, Supply Management, Sales and Operations Planning, and Product Portfolio Management.
For that podcast, I focused on Product Portfolio Management because this step includes transportation and delivery of our groceries within 10 miles of our houses so we don’t have to drive 10 hours to purchase them at the manufacturing plant.
Each time you pass by your neighborhood gas station, you see the price of the gallon increasing. Imagine you stop there to fill up your tank. Our tanks do not get any bigger but it costs more and more to fill them up. Even if you don’t drive, these small increases impact how much money you save. It all starts with your trips to the grocery stores. What you could purchase with $100 last week would require $12 more to buy the same items this week. This is because the costs to transport these goods to your neighborhood stores increase due to the price increase of the gallon of gasoline. The prices of the goods you purchase relate to the costs of transportation of these goods to your stores, and the costs of such transportation relate to how much it takes to fuel these big trucks.
Some of us who travel by air see airfare increases. Again, it is all due to an increase in gas prices because when the price of the gallon increases, it costs more to fill up the planes’ tanks and run the different airports’ operations. Rental property companies increase rent prices because, when the cost of the gallon increases, they also pay more to keep the lights running in the lobbies, hallways, and parking lots. Water, internet, and light bills also increase because, adding one cent on the gallon, the municipal electric utilities purchase gasoline at the inflation prices to operate their power plant and guess what; they pass on these costs to you.
When the price of the gallon increases, everything else increases because gasoline is the oil that greases the wheel of supply management. Whether you Uber, have your groceries delivered to your door, or pick up your pizza, your purchasing power decreases a lot.
As you can see, the increase in the price of gasoline, or any other basic good for that matter, profits big companies while taking away chunks of money from our income. Essentially, when the price of gasoline is increased just by one cent; our shopping budget is reduced by $12.
In summary, the increase in the gallon of gasoline has a ripple effect on the prices of goods and services across the board. This is because transportation costs, especially for big trucks, increase when fuel prices increase, increasing the cost of goods. Airfare, rents, water, internet, and electricity bills also increase due to the added cost of gasoline. Essentially, gasoline is the oil that drives the supply management process, and when its price increases, everything else follows suit. As a result, consumers’ purchasing power decreases, and they must pay more for the same goods and services.
Bobb Rousseau, PhD
Host of Apostrophe Podcast