March’s (Financial) Retard of the Month

 

Sandra Fluke, failed courtesan

 

Technically this month’s honoree reached her zenith late last month, and while she’s faded into obscurity 4 weeks later there’s no reason why we can’t give her the distinction she so deserves.

Meet Georgetown law student Sandra Fluke, she of the sensible haircut and uptight demeanor that betrays her as the kind of person Charles Dickens had in mind when he remarked that “Youth is wasted on the young.” Actually, not that much youth. She’s 30, which is becoming a perfectly acceptable age for a college student in the 2010’s. A college student who can’t support herself and doesn’t even display a desire to. If you find that incongruous with the idea of Controlling Your Cash, read on.

By the way, we labeled her a failed courtesan because she expects compensation for sex, and she isn’t getting any. (Compensation.) In her defense, she doesn’t exactly look like a firecracker between the sheets.  (Also, we originally used “prostitute”, but so did Rush Limbaugh and no one cares that we wrote the relevant parts of this post before his on-air attack.)

Ms. Fluke testified before a Congressional panel, complaining that the Jesuit school she attends doesn’t cover contraception in its student health plans. The assumptions she makes are undeniable:

  • A private institution is obligated to pay for certain preventative health measures that have nothing to do with the act of studying law at said institution. She might as well be complaining that she can’t get a Pepsi on campus because the university has an exclusive contract with Coke.
  • An institution that subscribes to Catholic tenets, including the one about contraception being immoral – however antiquated that belief might seem to Ms. Fluke or anyone else – is obligated to reject those tenets to accommodate a student who chose to attend there and presumably knew the rules going in.
  • This is all the federal government’s business, and by extension, ours. After guarding the coasts, collecting taxes, and keeping the International Space Station in orbit, one of the other critical items on the list is seeing to it that not only can Sandra Fluke have sex with abandon, but that someone other than her (or her partner) needs to provide the condoms and spermicidal lubricant.

So, Ms. Fluke, why’d you choose to attend a school whose health plans aren’t to your liking?

[I r]efused to pick between a quality education and our health, and we resent that in the 21st century anyone thinks it’s acceptable to ask us to make this choice simply because we are women.

No, you’re being asked to make the choice simply because no one – not your employer, not your church, not your educational institution – promised to or is obligated to offer you a suite of services that match up exactly with what you want.

That’s a nation with a $15 trillion debt in a nutshell. The very definition of economics is the study of infinite wants chasing finite resources. You have to allocate. We all do. To quote Paula Pant, it’s “Afford anything”, not “Afford everything.” What is the practical difference between Ms. Fluke demanding “contraception”, which she never bothers to define past the conceptual level, and demanding a BMW to drive to classes in?

At least Georgetown is teaching her to speak in obfuscated lawyery jargon. Again, she demands “contraception”. What, an IUD? A transdermal patch? A tubal ligation? Instruction in the rhythm method?

For decades now, it’s been an article of faith among health departments at the national, state and local levels that condoms are safe and effective for preventing someone’s wayward semen from mixing with someone else’s questionable vaginal secretions. Also, condoms are obscenely cheap. In fact, it’s hard to find a college campus where some organization hasn’t taken it upon itself to give them away to whoever wants one.

We haven’t brought them on board as a sponsor yet, in between the payday loan places and the medical marijuana suppliers, but Condom Depot was easy enough to find. They sell standard Durex non-lubricated prophylactics for, at the absolute most, 60¢ apiece. But given the frequency with which Miss Fluke needs contraception, Condom Depot can get her in for half that. 3000 condoms for $900.

Without insurance coverage, contraception, as you know, can cost a woman over $3,000 during law school. For a lot of students who, like me, are on public interest scholarships, that’s practically an entire summer’s salary.

A. If you’re making the equivalent of $12,000 a year, you should probably find another line of work. Especially in your 30s.

B. Sex is…what’s the word? Voluntary. There’s no way you can’t get to the following conclusion from her premises:

I want to engage in behavior that has nothing to do with my position as a student. If I choose to have sex, the institution I attend must accommodate the kind of sex I want.

If Georgetown is obligated to provide her with $3000 worth of contraception, however she defines it, why not nipple clamps and anal beads, too? Like many a previous sensibly coiffed woman to have come before Congress with an agenda, Ms. Fluke sees a crisis where none exists. And like many an American in 2012, to say nothing of many a Financial Retard of the Month, her overwhelming directive is to expect something for nothing. Again, a voluntary exchange of money for services. If you don’t like the services, keep your money. And judging from how little Ms. Fluke makes, she should be keeping her money anyway.

Ms. Fluke can make an unsubstantiated, outrageous, unverifiable claim about how badly she, an innocent woman, is being screwed by a heartless and faceless entity that puts profits over people. That the people in charge of that entity are so paternalistic that they even go by the title “Father” makes Miss Fluke all the more sympathetic in the eyes of an uninformed public. She also used the word “needs” as a noun 9 times in her testimony, an unmistakable giveaway that she’s an idiot.

Health insurance is supposed to be a way to minimize risk. Go without a few dollars now, and you won’t go without a lot of dollars later should you lose an arm or need cancer surgery.

Protected sex isn’t a crisis with a low risk of occurring. It’s a commonplace (depending on your partner and your availability) activity. So is sneezing, and there’s no logical difference between Miss Fluke demanding that her college’s health plan cover “contraception” and demanding that it cover something to blow her nose into.

This affects all of us in the sense that a blanket policy costs more money than a true insurance policy that would only cover catastrophes. If you want a policy that’ll cover heart transplants, but allow you to pay for your own blood tests – well, try and find such a policy. When every line item of a policy is mandated by the government, prices rise. So does coverage, whether the insured wants it to or not. Some of us don’t need condoms. Others would gladly pay for them ourselves.

But yes, keep voting for politicians who see nothing wrong with tying up Congress’s time and taxpayer money on such trivialities.

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**The Carnival of Financial Camarerie #28**

Financial Retard of the Month, February 2012

 

Smile!

 

We were all set to give this month’s award to Trent Hamm yet again. Trent has made the Financial Retard of the Month his to lose, commandeering it like Bobby Orr did the Norris Trophy and Hank Hill did Strickland Propane’s Employee of the Year. We had Trent’s name on the plaque and were ready to request another acceptance speech that he was doubtless itching to give.

And then, everything changed like a flash of lightning. In the most stunning rally in the brief history of the Financial Retard of the Month honors, Kris at Simple Island Living came from several points down to fire past Trent and all other comers. She first came to our attention with this comment, from another contestant’s recent Carnival of Wealth submission:

I just looked into [food stamps] for our family when I became unemployed. In Hawaii, there is an asset test ($3k in assets or less for a family of 3) you have to pass in order to qualify for welfare like food stamps. The only reason I qualify for state health is because I am pregnant and my son is a minor. If those weren’t the case, I would be shelling out $800 a month for healthcare for the two of us.

The one thing I do disagree with you about is the use of food stamps for organic food. When it comes down to it, getting organic milk for my son is extremely important for me because he is 19 months old. When a child is that young, if it is possible to get milk that is free of hormones it is, to me, one of our higher priorities. It’s just that their bodies are so fragile and while he’s so young, we want him to be as hormone and pesticide free as possible.

Apart from that, if you’re talking millionaires who are on food stamps and getting their organic truffle oil, well then, perhaps a touch of reality would be good for them.

Two paragraphs of why she needs other people to support able-bodied her, followed by an indignant slap at other people who have chosen to do the exact thing she did – take advantage of a political construct that allows the unproductive to flourish on the backs of the productive.

We touched on this in the linked post, but in her position as an unemployed mother of one (with another en route), Kris has chosen to live a gratuitously costly lifestyle that used to be the exclusive province of rich people. It wasn’t that many years ago that insisting on expensive organic milk (by the vernacular definition of “organic”, not the true definition) for your fragile offspring was a symptom of being idly rich. Being privileged enough to find death and mayhem at every turn in the grocery aisle was a status symbol, one that showed you were beyond concerning yourself with philistine worries like simply buying whatever milk was cheap.

But today, you can have discriminating tastes while being on food stamps. It’s the democratization of insanity.

So here we have a woman who collects largesse that’s “free”, without ever thinking about where and from whom the resources originate. On the surface that sounds like an eminent disqualification for blogging about personal finance, but what do we know?

Shame used to be something of a motivating factor for public behavior. Maybe it still is, in some backward and less enlightened parts of the planet. But as for now, impunity reigns supreme. Want to finance an education without estimating its costs and eventual benefits? Why not? If you end up borrowing more than you can ever pay back, demand clemency. Then again, in a society where a corporate executive can run a multibillion-dollar company into the ground and expect (and receive) taxpayer support, or when the political appointees who run the superfluous secondary mortgage market can escape with billions, why shouldn’t a simple housewife spend money on something less vital and more fun than inexpensive supplies for her toddler?

There are millions of leeches in this formerly robust country. What makes her so special?

We’ll let our subject handle it:

We’ve been planning our anniversary trip for a year – saving up for it for two years.  Since we were married on Leap Day, my husband decided that very (sic) four years we would take a trip, thereby warding off the stereotypical flowers-dinner anniversary that most anniversaries default into.  Since we have a toddler, I tried to think of something that would be toddler appropriate while still being a blast for us.  What did I think of?  Disney Cruise!

We’ll be setting sail on the Disney Wonder next week.  It had a special “kids-sail-free” special going on, which made our balcony room (all included meals) about $2K.

Is it expensive? Sort of.  We bought the extra trip insurance because I’m pregnant and we have a toddler – in case the doc had put me on bed rest or something, at least our trip would have been covered.  Since we did, though, it comes out to around $350 a day for the 3 of us.

It is a bold departure from our honeymoon trip…We also got tipsy and went to an art auction.  Not a good idea.  Don’t recommend it.  Buh-bye moolah.

Buying stuff with no utility, while drunk. How did we forget to include a chapter on that surefire wealth-building method in Control Your Cash: Making Money Make Sense?

But in reality, we are excited.  Happy to be getting away from my current drama…

Every woman in a similar position seems to have some form of “drama”. Like many of our previous honorees, this month’s is suffering from the shellshock that affects so many of our returning Iraq vets.

Just kidding, of course she isn’t. No, she has a husband and a kid and another on the way. She lives in a place that millions of other people pay good money to visit. Her “drama” consists of not looking too hard to find a job, and then again, why should she seeing as she’s a few months pregnant?

In the paragraph about trip insurance, we’ll assume that she submitted to pronoun confusion and that the $350 a day refers to the cost of the cruise + trip insurance, not just the trip insurance itself. Assuming it’s the former, that means she’s paying $450 in trip insurance. Or as the trip insurance provider calls it, the easiest damn money in the world to make. A gigantic premium for essentially no work and no risk.

And happy to pretend for a second that our life isn’t quickly becoming, well, sort of ghetto (I duct-taped my kids diaper today because it ripped.  Is that normal?)

Given the comments and responses to that last line, we’re assuming it’s not hyperbole and that she’s being sincere.

So that’s $2450 for a cruise plus trip insurance. She said she’s going to buy a sombrero, so we’re presuming she’s taking Disney’s week-long Mexican Riviera junket. Which would also entail schlepping the family from Honolulu to Los Angeles and back. Which is probably at least another $1000 or so.

Even better, this post follows up one on her blog entitled “socially acceptable stealing…right or wrong?” She’s talking about company office supplies, etc., but no one mentioned whether going on cruises while sucking at the taxpayer breast qualifies. But it should. It’s clearly stealing, and God knows it’s now socially acceptable.

Trent Hamm became our go-to subject for Financial Retard of the Month because of his pathological attention to the small picture. (His sanctimony, lack of humor and stubbornness were just gravy.) But that being said, he’s worth emulating in every way if the alternative is this. Which is worse – having the wherewithal to lead a comfortable life and refusing to, or having no wherewithal yet overextending yourself to lead the comfortable life anyway? Going on a weeklong cruise while duct-taping diapers. Trent would duct-tape diapers because it’s fun, not because it’d save a few dollars he could then spend on a tiny percentage of a cruise that he shouldn’t be going on anyway because he’s collecting health care and food benefits from his fellow citizens through the conduit of a state agency.

Oh yeah, the award. The February 2012 Financial Retard of the Month honoree is not Kris of Simple Island Living. There’s somebody far more complicit here. It’s you, the American taxpayer. (Assuming you’re among the 80% of our readers who are American, and among the 50% of those who pay taxes.) Congratulations on letting a system that allows this kind of abuse to grow roots, and good luck ever getting it modified. Take a look in the mirror and embrace your retardism. You earned it.

Our Appearance On The Suze Orman Show!

Suze Orman

(Note: We deliberately waited a couple of weeks for this, hoping the hullabaloo would have subsided. It hasn’t. Also, even though we still have a few more posts scheduled for January, you can consider this our Financial Retard of the Month. No one else is going to top it.)

Here’s the transcript of our recent television appearance on The Suze Orman Show, hosted by America’s favorite financial professional. It has yet to air.

 

It’s The Suze Orman Show! Today, Suze’s guest is Greg McFarlane of Control Your Cash!

SUZE: I understand you and Betty Kincaid have written a book, and a series of e-books, and you say your website is different than other personal finance websites. How is it different?

GREG: It’s different because we call other people out on their horseshit. Can I say “horseshit” on TV?

SUZE: No, this is basic cable.

GREG: Well, it’s your guys’ FCC license. Not my problem.

Look, you created this ridiculous prepaid card a couple of weeks ago which would have been a horrible idea if Russell Brand was behind it. Instead, it’s you – the woman whom Oprah’s minions trust to teach them about personal finance because watching daytime TV is easier than thinking.

I have nothing against separating suckers from their money – if they’re willing to part with it, why should that be anyone else’s problem – but you do realize you’re destroying your credibility with this card, right?

SUZE: Hold. It. Right. There. Mister. The Approved Card is a revolution in personal finance. People can use it to improve—

GREG: No, I’m going to cut you off. It’s someone else’s turn to be the angry lesbian. You were going to say “…their credit scores”, which is laughable. How can a debit card improve, or worsen, someone’s credit score?

Just because this card gives people a free look at one of their three credit scores – a perk with a retail value of 0 – doesn’t mean it can improve anybody’s score.

SUZE: Nuh-uh –

GREG: Still talking. I give you credit for telling your audience that this card is going to cost them $3 a month. $36 a year for using their own money. But then you follow that up with the list of tremendous benefits they get for that $36. They’re the first things listed on your website.

One, free use of certain ATMs. You call that a cardholder benefit? That’s like telling people the card comes with its very own shiny magnetic stripe. And they don’t even get the free ATM use until they sign up for direct deposit. Not that they shouldn’t anyway, but again, how is this a benefit?

SUZE: It’s –

GREG: Rhetorical question. Sucks when a person just keeps on talking while you’re trying to interrupt, doesn’t it?

SUZE: Ye–

GREG: I’m not close to done. You list 5 more benefits, one of which is that “your deposits are individually insured up to $250,000.”

Of course they are! It’s a freaking bank! Anyone who keeps his money in a federally regulated institution, as opposed to a pickle jar in the back yard, gets this “perk”. My God, how do you live with yourself? Another rhetorical question, by the way. Free online bill pay, which almost every payee offers anyway. A free “emergency fund account”, whatever that is. How much money does your partner, Bancorp Bank, put in the account? I’ll let you answer.

SUZE: Zero, but –

GREG: And how much interest do these accounts earn?

SUZE: That’d be zero, too.

GREG: Thank you. And, cardholders get “free activity alerts and balance updates.” Again, that’s like telling them that if they walk into a branch, they’ll get free deposit slips. And the ink to fill them out with is on the house. I know Bancorp Bank doesn’t have branches, but hopefully you see the point I’m making.

SUZE: Now, you don’t have any credentials, so who are you to discuss personal finance with people?

GREG: No credentials? (chortle) You should see where we live. (snicker) And live. (guffaw) And live. Besides, aren’t you the one with the degree in social work?

You even charge people for replacement cards. I’ve been with multiple banks in my life, and no one’s ever done that. Nor do they charge me for the original card. You guys do. How is that better?

SUZE: It’s better because The Approved Card is better than cash. If your cash gets stolen –

GREG: You mean if someone tries to steal cash out of my wallet, on my person?

SUZE: Maybe.

GREG: Then I’ll shoot them. But I never carry more than a few bucks anyway, because I already have a debit card. From my bank. Not Bancorp Bank. And it’s free. There’s no monthly fee, there’s no fee for using in-network ATMs, my money’s guaranteed up to $250,000 – basically all the benefits your card promises, and none of the costs. Would you be interested in this Bank of Nevada VISA card that’s in my hand? You can apply right online. You’re rich, I can’t imagine that they’d turn you down.

SUZE: Exactly. My card is for people who aren’t rich yet.

GREG: Sister, your card is for people who will never be rich, largely because they’re swallowing advice undigested from an imbecile. Your card is only for people whose credit is already so horrible, no bank or credit union will let them open an account.

Again, I respect that you’re trying to get rich off people dumber than you. And if it were Carlos Mencia or Blake Griffin putting his name on this card, that’d be one thing.

SUZE: I didn’t just put my name on this card. I created it.

GREG: Yeah, you keep saying that, as if proud of this. But you telling people to spend money to spend their own money would be like Jillian Michaels telling people they can carve chessboard abs for themselves by eating Jillian Michaels®-brand strawberry cheesecake.

You’re a crock, a charlatan, a mountebank, a fraud, and those epithets are far more complimentary than what you had to say to anyone who disagreed with you during your recent Twitter meltdown. So I’m going to end this interview prematurely, with a ruffle and a flourish, and leave you to filibuster for the rest of the segment. I’m sure you’ve got plenty to tell your viewers about. Goodbye.

SUZE: Look, before you leave…where do you get your pantsuits?

GREG: This isn’t a pantsuit. These are just pants.

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**The Carnival of Personal Finance #346-Editor’s Pick!**

**Top Personal Finance Posts of the Week-Super Bowl XLVI Edition**