David Dishneau of the AP on what one woman would do:

Chicago billing clerk Stephany Harris, 53, didn’t miss a beat.

“Of course I would,” she said. “If the armored car had been in an accident of something, I’d make sure the drivers were OK and I’d call 911. But I’d put as much money in my pockets (as I could) and run.”

But what if her kids were there? “I absolutely would not take any money,” she answered again without hesitation. “I wouldn’t want them to get the message that grabbing money that is not yours is the right thing to do.”

Well at least she’s honest (note that this is not in any way a consolation).

Peter Svensson of the AP on the slow move toward EMV credit card technology (probably more commonly known as chip and PIN) in the U.S.:

The U.S.’s status as a holdout has also started to cause problems for travelers. While most European stores and restaurants still accept magnetic-stripe cards, Americans are finding that their credit cards don’t work in European automated kiosks, like the ones that sell tickets for the Paris Metro. Some U.S. banks, like Wells Fargo, have started issuing smart cards to customers who travel abroad.

Next year, Visa will start dangling this carrot in front of store owners: If they replace most of their terminals with ones that accept smart cards, they will no longer need to have their payment-system security checked every year. U.S. stores spend hundreds of millions of dollars a year for these audits, according to the NRF.

In an even more momentous shift, in 2015 Visa is shifting the liability for a certain kind of fraud from the banks to stores.

EMV is definitely not perfect either, and there have been a few successful attacks demonstrated in the U.K., but it is certainly more secure than what we have now.

Brett Arends, writing for SmartMoney.com:

… in 10 years’ time my $500 will have grown to about $800. That’s in today’s dollars—after inflation. In 15 years it’ll be about $1,000, and in 30 years, $2,000.

I figure I’ll be retiring in about 30 years, which is when I’m going to need lots of capital. I can have the iPad now, or about $2,000 then.

Thanks, but I’ll take the $2,000.

…

Yes, I typically do these mental calculations, at least in the back of my mind, for most things. A “$50” lunch at Morton’s really costs $200. A “$5,000” trip to the South Seas: $20,000. And so on. It tends to cut down on the spending. I typically come back from the mall with no bags, gleefully clutching my future millions.

‘Ili: This man leads a sad, lonely existence.

Colin: Yeah, exactly.

Colin: I was awestruck reading it.

Colin: “I don’t want to die poor, and I don’t want to live miserably and die rich either.” Could have fooled me.

‘Ili: Obviously long-term planning and weighing the benefits of large purchases is generally a good thing.

‘Ili: But this man crossed the Scrooge McDuck line ages ago.

Colin: Stick a dollar bill up this dude’s ass and it’s not pennies that pop out, but a half pennies.

Colin: So the best part about that story is that

Colin: The Street already ran it in 2007. http://www.thestreet.com/story/10366263/2/the-true-cost-of-an-iphone-try-17670.html

‘Ili: How does this guy function in society?

‘Ili: I’m imagining him in the produce section at a supermarket with a calculator.

‘Ili: “I really feel like some corn, but…” ::punches numbers::

Colin: I’m betting that he considers himself rich enough to not worry about this, and is doing the rich person equivalent of mansplaining.

‘Ili: “… if I don’t buy an ear now, I’ll have enough money to buy four of them in thirty years!”

‘Ili: ::goes home and boils a shoe for dinner::

Colin: ahahahahahahaha

Colin: On an old fashioned pipe stove.

Colin: “Why upgrade now when I could buy five stoves in 40 years?!” ::gets a crazed look in his eye::

‘Ili: He’s actually indistinguishable from a hobo.

‘Ili: “Why own a place to live now when I can have four later?”