Does wealth have a direct correlation with happiness?

Wealth and Happiness

Does wealth directly influence happiness?  A lot of people think that if you have a lot of money, you will be happy. Granted, the more money you have, the more things you can do to have fun like vacations, but really, it depends on the person. Some people are content with having a steady job and a loving family. On the other hand, there are people who are only happy if they are doing something exciting or new all the time. Its no question that if you asked anyone if they wanted more money, the answer would be yes. But, to some it is not the most important thing in the world. 

Industrial revolution blog

After the industrial revolution, life changed drastically for most people. Instead of relying on farming for money, people were forced to move into cities, causing overpopulation, and compete for jobs that had long hours and very little pay. When people moved to the cities, they had very little money, and they were forced to live in small apartments most of the time with other families. The living conditions were extremely poor for most people. The working conditions weren't much better. You had to show up at precisely the right time and work long hours if you wanted to keep your job. If you were late, you would be replaced and fired. I think the worst negative effect of the Revolution was the lack of sanitation and the massive health problems. Going to hospitals was expensive, and most jobs didn't provide people with healthcare. Healthcare wasn't granted until 1824 when people were allowed to join trade unions. Since the industrial revolution, the thing that I believe that has changed most is the speed that things get done.
      There are many negative consequences to the industrial revolution in the modern world, like all of social media. It is fun to use, but it has taken control of peoples lives. We spend hours and hours everyday glued to a screen. I believe it has made people increasingly anti-social and younger generations can't even hold a conversation without looking at their phone. Although there are some consequences, the industrial revolution has done some great things. It has increased production of just about everything, and expedited the process of farming. It has decreased the amount of manual labor that has to be done, but there some people that see that as a bad thing, saying that it makes people lazier. Overall, I think the world is better off since the Industrial Revolution.

Differences between Rich and Wealthy

Rich vs. Wealthy

In our society, there are many people who claim to be rich but very few who claim to be wealthy. Most people think being rich is synonymous with being wealthy, but rich people see it differently. Today, you see a lot of "get rich quick" schemes, but no "get wealthy quick" schemes. To me, the main difference between rich and wealthy is knowledge. People can become rich by getting lucky, or gaining money from family members. But to be truly wealthy, you have to offer something of great need to the public, and that takes tremendous knowledge.  People who are truly wealthy are people like Warren Buffett and Bill Gates, who created a product that dramatically changed the way we do things and in the process improved productivity of companies. By creating something that benefitted millions of people, the made an extraordinary amount of money.

what defines wealth

Wealth

The definition of wealth is an abundance of possessions or money. But, what i want to know is how real people define wealth and what it means to have and be wealthy. In a new survey, most investors with over $1 million do not think of themselves as wealthy. Of the survey’s 4,450 participants, half had $1 million or more in investable assets, and all had at least $250,000 in investments. Compared to the majority of America, these people are very well off. They, on the other hand, do not see it that way. These people, when being asked what would make them feel rich, mostly said that no financial restraints on activities. So, wealth seems to have a lot to do with the types of things you can do. 

new forms of currency (ted talks)

Now that the world is evolving into a more technology dependent society, people are trusting technology even more than they are trusting corporations and banks. A recent poll said that only about 21% of people trust banks and about 63% of people trust online banks. Brands like nike are moving towards different types of payment. Nike in particular is trying an new type of payment where their products track how much you use their products, and once you have a certain amount of time of use, you can use that time to purchase things in the store.

For the Federal Reserve

Arguments for the Federal Reserve

The Federal Reserve has the ability to alleviate some economic turmoil through its ability to adjust the money supply, as an overnight lender of funds, and through regulation of the banking system and specifically the member banks. First, the Federal Reserve established a national currency. Prior to the Fed, there were over 30,000 currencies in the USA. The Federal Reserve made a singular currency valid throughout the country. Next, the Fed protects small banks. Without the Fed, larger banks would have a great deal of power over small banks, potentially causing them to fail. The Fed helps to control inflation and deflation, keeping the country running smoothly in terms of finances.The Federal Reserve helps to represent America and its financial interests. Without the Fed, the interests are represented by banks, clearly not the healthiest financial option as banks are concerned about private rather than public interests. Lastly, banks are required to undergo an impartial, outside audit done by the Federal Reserve. If the Fed did not exist, all audits would take place internally, causing corruption among the banks. 

Against the federal Reserve

The federal Reserve #2

The federal reserve is a very highly debated topic, with many ideas for, and against it. Here are some of the main reasons why people think the Federal reserve is not a good idea. 

1.) The federal reserve has too much power to control our economy - Federal reserve Chairman Ben Bernanke has the power to dramatically impact our economy at a drop of a hat. The central bank completely controls and determines the money supply. It is permitted to create as much money as it wants out of thin air with no restrictions.
2.) The Federal reserve has devalued our currency significantly - The more dollars we have in the circulation, the less the currency is worth. Our money supply has rapidly increased over the past century due to the  Federal Reserve printing massive amounts of money like there is no tomorrow.
3.) It is run by unelected, unaccountable bureaucrats - I think that people would be more in favor of the federal reserve if we were able to vote on who was a part of the Federal reserve. 

The value of the dollar bill

Value of The Dollar Bill

The dollar bill was first introduced in 1929. It features our first president, George Washington, on the front, and the Great seal of the United states on the back. The federal reserve says that an average lifespan of a $1 bill in circulation is 5.9 years because it is replaced due to wear and tear. About 42% of all U.S. currency produced in 2009 were one dollar bills. 

The value of the one dollar bill has greatly decreased over the years due to a variety of things. For one, the U.S. imports more than it exports, which causes us to lose money, so more money has to be borrowed. The more money that has to be borrowed and put into circulation, the more the value of the dollar goes down. Also, the wars we have been in cause us to lose money, which contribute to that. 

 

Federal Reserve

The Federal Reserve

The federal reserve is often misunderstood as a place where we keep our money. Actually,  The Federal Reserve Board has regulatory and supervisory responsibilities over banks. This includes monitoring banks that are members of the system, the international banking facilities in the U.S., the foreign activities of member banks and the U.S. activities of foreign-owned banks. Basically, the Federal Reserve’s duty is to keep inflation balanced and in a state of not growing too much or too little. Unfortunately, the federal reserve is based on human judgement, therefore human error is very apparent. 
     So, when we need money, we borrow it from the Federal reserve, and eventually have to pay it back. People think we owe most of our debt to Other countries like China, but we actually owe most of it to the federal reserve. 

Goal for my blog

Goal of my blog 

The next Two weeks

For the next two weeks, I want to find new things about the people who started the creation of notes, and find new reasons why they did it. Also id like to go into detail about how our federal reserve works and how the economy of the USA is changing. I want to learn about why the federal reserve was built and how it helps us. Also, I want to get different opinions on the idea of the federal reserve, and why some people think we should abolish it.