Reflective Blog For The Week Of December 8th

This week in Econ we delved into banking and the risks of banking and how to be successful while banking. I learned the hard way when I fell into debt to Gurubandaa and owed him a lot of money, I have been giving him the majority of my money but for some reason I owe him for giving him money. I don't understand why but it is Gurubandaa so its gotta be for a good reason. I owed him $35 dollars because I borrowed $20 from him in order to buy Doritos. His interest rates are pretty high but I don't trust the bank of Annie, so I'll just take what I can get. I payed him back Friday and all has been going well since, considering I haven't been at school in order to spend my money. Teehee

Reflective Blog For The Week Of November 29th

This week in Personal Finance we mainly went over banks and credit cards. We talked mainly about credit card issues and how people make bad decisions. The main problem is the interest rate.  People make bad decisions and go over their credit amount and the rate goes up. Some people don't pay their credit bill on time and some people only pay the minimum amount, which overtime will cause your rate to go up. The rate basically means that the people will be charged more for using their credit card. Late fees can also go up over time. The best thing to do is to be a "deadbeat" someone who pays over the minimum amount and never goes over the limit and always pays on time. This person can keep their rate low and save much more money. What do you think are the advantages and disadvantages of using credit cards? Tell me in the comments below. VVV

Reflective Blog For The Week Of November 17th

This week in the legendary 3rd block econ class we introduced a new form of currency. These Weserville dollars are a different than the town money. Apparently being late to class fines you five dollars so I am already down some money. :( 2 Tissues is worth 1 dollar so expect a lot more snot to be flying around the classroom. Eating costs money as well so Boomer will have to starve. Charging your laptop cost money so remember to charge it at home. Everyone gets a salary for the jobs they do in the town. We also have to pay the fines of the town and cover many costs. We also split into groups and each group was a separate island. Each island as its own unique resource as well as lava, buffalo, fresh water, coconuts, and bananas. One island has fish, one has fighter jets, one has diamonds, one has coins, and mine has oil. The currency between the islands is the obsidian coin. If you think there is a possibly better form of currency please suggest it in the comments below.

Reflective Blog For The Week Of November 2nd

This week in econ I was gone Tuesday due to extreme sickness and I was not there Friday because I was busy running state championships. On Tuesday there was an electron for the new governor of Virginia and it was a race that was truly about Obamacare and party differences. It was Terry McCaulife (D) against Ken Cuchinelli (R). I liked Ken better because he opposed Obamacare and he had better ideals overall for fixing America and going back to our old ideals and way of thinking. I didn't like Terry because he backed Obamacare and his ads were slanderish and manipulative to uneducated voters. He claimed that Ken was going to make it so minorities can't vote which is extreme to say. I think that that is just shameful and I'm very dissapointed that he won. I miss Bob.

Reflective Blog For The Week Of October 27th

This week in Econ was very much centered on Weserville, specifically Wal-Mart. The main conflict this week has been whether or not wal-mart can come into town. We were divided into groups based off of what businesses we were a part of. One group for wal-mart and one against. My group was for wal-mart coming into town and we said that it would be good because it would help with the unemployment and it would bring more people into Weserville. It would also bring more businesses and more competition. It would make it easier for people to buy products that they need without having to waste gas and take a long time. Personally I haven't decided whether I want it or not, I kinda do but I kinda don't at the same time. Its a very important factor in Weserville and it could greatly impact our town's future.

Reflective Blog For The Week Of October 13th

This week in Econ Clarence Wiggle Heimer the 2nd, aka me, left on thursday for a business trip. I left to go to the mountains to search for better glass for the light bulb factory. It didn't work out honestly and I ended up just shopping and taking hikes and junk. I didn't find any glass or any cool stuff for Weserville so I'm #sorry. Good news is I'm back now and I didn't get eaten by any bears so yay. #Stayinalive

Reflective Blog For The Week Of October 6th

This week in econ we started working on our tourism projects. I large amount of people are coming to Weserville and we are trying to attract them to certain businesses in Weserville. My group was Nick Z, Hannah, and I and our team name was Team Nice Dynamite. Best Name Ever. Anyway, our business we chose to promote was Pete and Joe's restaurant. We did a radio ad, a tv ad, and a newspaper ad. Altogether it went pretty well and it was fun. I think that our ads will promote Pete and Joe's restaurant and get it more business.

Reflective Blog For The Week Of September 29th

This week in Econ we got to make skits advertising businesses in Weserville using the 6 factors of demand, income, market size, consumer tastes, consumer expectation, substitute goods, and complementary goods. Thomas, Nick Z, Peter, Matt, and I made an advertisement for Pete and Joe's restaurant. We used consumer tastes and expectations in order to attract our audience.  We made a kewl song to make our product seem happy and fun and tasty so be people would want to buy it. I felt like it would work because I like commercials with jingles in them. What type of commercials do you like? Comment Below VVV

Reflective Blog For The Week Of September 22nd

This week in Econ Class we focused on the budget and fiscal cliffs and such. We were asked what we would cut from the national budget and my two things I would have most liked to pick were sort of different. I chose that I would cut federal spending on public schools and spending on federal aid. I wanted to cut federal spending on schools because it wouldn't affect me because I go to private school and it would make everyone dumber so I would have an easier time getting a good job. I would cut spending on foreign aid because we spend way too much money on countries that don't affect us in any way and it is just poor investment. Yesterday we played a game called BudgetHero where we were in charge of the federal budget and we made all of the big decisions. I kept national defense the same but I cut federal spending on education, health care, and social security. I invested more money on science advancement and energy independence. It worked out pretty well and I got the budget to last to 2036 and made made up for 45% of the debt. How did you guys do? What things did you guys invest in and what things did you guys cut? Let me know in the comments below VVV

Reflective Blog For The Week Of September 15th

In econ class this week we mainly focused on the stock market. The stock market is pretty complicated but if you do it right you can make a lot of money. Playing the stock market is like playing poker. You have to know when to bet and when to fold. A good example of knowing when to fold is Bradley. Bradley was way in first but when his stocks peaked in money, he didn't sell them. As a result his high value stocks plummeted and he fell into last place. I did this correctly when I sold my google stock right before it fell by $10. Knowing where to invest is very important and knowing when to sell is equally important. My best stock currently is my NTDOY stock and I have made $1800 on it so far. My worst stock is WDAY and I have lost $170 on it. What is your best and worst stock? Tell me below.

Reflective Blog For The Week September 9th

This week talked more about traditional, market, and command economies. Then we worked on our Karl Marx and Adam Smith dialogues. My partner was Boomer and we focused on the differences between a free market economy and socialism. We argued over the pros and cons of each economy mainly. One main point for our argument was equal opportunity and equal outcome. In a free market there is equal opportunity which is equal chance for an individual to get a certain position and receive a certain salary. Each person is born with an equal opportunity to get a certain amount of wealth. In a socialistic economy there is equal outcome which is each person receives an equal salary and things given despite what job they have. This means that no matter how successful you are or how much of a failure you are, you will still make as much money as anyone else. This is viewed as a more fair system but I argue that it isn't. Everyone may get an equal amount of money but you could be extremely lazy and make as much as a very hard worker. I don't that that is fair at all since hard workers and lazy workers are now created equal. Tell me your thoughts, I think that equal opportunity is far superior myself.

Reflective Blog for the week of September 2nd

This week in economics class we did some basic stuff. First we took our test on the last chapter which wasn't too bad. I feel that the class knew most of the material for the test thanks to the superb teaching by Mrs. Weser, the supreme admin. The next day after taking the test we were introduced to three kinds of economies. We first learned about traditional economies and how this economy is becoming more and more void in our modern world. We then learned about a command economy and how it functions because it is almost a complete opposite of the U.S economic values. We then learned about the economy we are most familiar with, a market economy. In a traditional economy, the values are based off of deep seeded cultures and customs. The main goal of this economy is to survive and wealth is ignored. People in traditional economies mainly trade and it is similar to the Native American economy they had. A common command economy is communism. Communism is an economy in which the government holds all of the businesses and makes all of the decisions. Individuals in these economies have no say in anything and must listen to the government's orders. Everything is owned by the government and they control most of the choices in your life. A market economy is an economy in which individuals own businesses and make all of their choices. Production of resources and distributing of resources is controlled by the individuals in the economy. An individual decides what they want to purchase and what job they desire to have, they have to earn thier job though. The government is in charge of foreign affairs and maintaining balance and safety in the country. The economy is mainly influenced by individuals' choices. My favorite type of economy is a market economy because the individual can make their own choices and where they end up is dependent on themselves. So if they fail it is no one's fault but their own and if they succeed it is because of their triumphs and not the government's.

Enemy Spotted

It seems as if someone has been attacking the Captain's Log. Numerous posts have been removed by this said enemy. I will not stand for my blog to be harassed by these foes. I would like to call my fellow classmates to arms against the supreme admin that is said to be called the infamous "Weser". Don't give in to the enemy my fellow classmates, I have fallen to this foe, but you should all carry on. Huzzah!

Reflective Blog For The Week Of August 19th

This week in Economics Class we introduced ourselves, got an introduction to Economics, and started working on our plans for Weserville. The most interesting thing we did was our work on Weserville. We first learned what Weserville was and about the living conditions inside of Weserville. We then elected officials for Weserville such as the mayor and town council. We were then given the task of spending $10 million dollars on unused land to benefit Weserville. We split up into groups and thought of ideas. The 2 most popular ideas were building a oil rig/ natural gas gatherer or building a town complex. I thought that we should go with the natural gas idea because there have been recordings of high amounts of natural gas in the areas around Weserville and it could generate a lot of wealth and independent energy. This topic relates to the topic of scarcity we learned about earlier in the week. One of the questions caused by scarcity is "What will be produced?". This is also a big question for the people of Weserville at its current state. We have to decide what will be produced in Weserville so that it may blossom and stimulate a large amount of currency for the betterment of the lives of its inhabitants.