31 Things You'll Never Hear a Texan Say...

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I guess when you've completely run out of ways to refute my arguments, the best option is to play the semantics card.
Let's see, I'll search this thread myself, instead of paying someone to do it for me, and "make" a few pennies.
Oh, look what I found:
"$35 dollars saved is $35 dollars earned."
I wonder who said that.
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BobR wrote:

Absolutely. Your property is now worth considerably MORE than the $35 you saved simply because it has a neatly-trimmed lawn.
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wrote:

<Had I paid an idiot like you to do my yard for me, then my net worth would have been reduced by the $35.>
Clear foul. Sigh. Derby's not an idiot and frankly, it's pretty sad to see someone not only be dead wrong about something, but rude to people who are simply trying to educate him.
<$35 dollars saved is $35 dollars earned.>
No, it's not. Bob, I'm kind of feeling bad for you. Have you ever taken an economics or bookkeeping course? It doesn't sound as if you have because aside from Ben Franklin homilies, earning and saving are two completely different economic activities, as people have been trying to explain to you.
When you do something like mowing the lawn yourself, you're not earning money. (In fact, you're spending money for gas and for the wear and tear on the equipment and more.) But just to make it simple, we'll say you're not spending that money mowing your own lawn. In fact, no money appears anywhere in the economic event of YOU mowing the lawn.
What you are spending is your time. If you could be making $100 an hour consulting but instead mow the lawn for $70 an hour, are you still making $70 or are you losing $30?
http://en.wikipedia.org/wiki/Opportunity_cost
"Opportunity cost is the cost of any activity measured in terms of the value of the best alternative that is not chosen (that is foregone)"
If you chose to mow your lawn yourself, you can no longer use that time to work extra hourse at work, do consulting, or break into your neighbor's garages to steal their tools, if that's your thing.
If your time had no other possible value, then maybe you could feel that you earned $70, but even then it wouldn't be true. To make or "earn" money in the first place, you have to increase your net worth, not just conserve it. Mowing the lawn yourself means you haven't spent money, but it certainly doesn't mean you made any. That would happen only if you mowed your neighbor's lawn, too AND they paid you for it.
Way back when Venice was the merchant capital of the world, they invented double-entry bookkeeping, which has become the very cornerstone of modern accounting. For every debit, there is a credit and vice versa.
http://en.wikipedia.org/wiki/Double-entry_bookkeeping_system
<<This approach is also called as the American approach. Under this approach transactions are recorded based on the accounting equation, i.e., Assets Liabilities + Capital>>
Your assets have stayed the same by mowing your own lawn. While you see that as a gain of money, your financial position has not IMPROVED by mowing your lawn, it's simpy held its own.
It's easy to understand why you believe that money you can keep in your pocket is a net benefit to you, it just seems to be common sense. But consider this. When you mow for yourself, you aren't being paid, there's no new money coming in and you have to pay for the tools, the gas, the insurance, the damage if you throw a rock and crack you neighbor's car window, etc. You can't engage in any other activity during that time, and if you're a professional earning a good rate, you could come out at a net loss. You'll really lose money if the mower runs over your foot and cripples you. That's a fairly large risk you previously offloaded to your groundskeeper.
Sadly, based on HeyBub's "understanding" of how wealth is created, transferred and destroyed, I have to conclude that a lot of people just haven't been exposed to the basics. You wouldn't tell me that a "2 by 4" is actually 2 inches by 4, would you? Somewhere along the line you acquired the knowledge that what started out as a 2" by 4" is now a LOT smaller. It's just one of those things you learn along the way.
Saving money is not the same as earning it although it sometimes seems that way. A lot of us here in AHR are skinflints like me that would rather repair something 10 times than buy a new one and just burn at the thought of paying someone $100's for something they could do themselves with a little research.
I didn't *make* any money installing my own sump pump, but I did save $100's. Fortunately, saving $100's has great spousal approval (when I do things right) so there are what economists call "blue sky" or "good will" values to things to complicate the picture.
I had a stay-at-home mom who lived through the 1929 Depression. She made the Scots and the Jews look like spendthrifts. She could save like nobody's business. But without my dad's weekly paycheck, eventually she would have saved all she could and then would have run out of money. That's why saving isn't earning. Without dad's income there's was no NEW money entering the family, just less money going out.
Now, if like Huck Finn, you can *trick* somebody into working for you AND you used the time to make ivory carvings that you sell, you might well have "made" some money. But you would have also made some enemies when they realize they've been played.
The correct economic choice is to spend your time on things that bring you the greatest financial return.. Most people, however, spend their time on things that all bring the most satisfaction. Unless you neighbor said "Hey BobR, your overgrown lawn looks like crap and I am trying to sell my house so I'll pay you $35 to mow it" you aren't making any money mowing your own lawn. You may be *saving* $35 cash if you do it yourself, but you're spending your time. This is something that's essential to understanding capitalism and how businesses typically grow.
As for calling someone trying to explain something an idiot, my feeling is that "friends come and go, but enemies accumulate." You owe DD an apology. He is an intelligent and honorable man and he happened to be exactly right in this case. Calling someone an idiot when *you've* got the facts wrong is a double self-insult. The only remaining question is: are you big enough to admit when you made a mistake?
-- Bobby G.
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I don't owe DD an apology and you are full of it too if you think I made a mistake.
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<...snipped etc....>
You left out "I think he's innocent"
--
The best argument against democracy is a five-minute conversation
with the average voter. (Winston Churchill)
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32. 31 Things You'll Never Hear a Texan Say...
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