The average person is determined to maximize their salary by finding deals and
discounts but corporations are well aware of this tactic
and create products to intentionally confused and over charge their customers,
from under field chip bags to Overhyped precious stones.
The world is full of scams, today we’re looking at 15 industries that actually rip you off your money on our list of
12 Companies That Secretly Rip You Off
Diamonds are the stones most closely associated with wealth and prosperity.
Most people have the perception that diamonds have been an integral part of human culture for millennia but it turns out they are just a result of a century old marketing scam.
The Debeer’s corporation was founded in 1888 with mining operations in South Africa,
Namibia and Botswana.
Before this moment, the concept of exchanging engagement rings wasn’t even a common custom in
most of the world but after a 1938 ad campaign spearheaded by Debeer’s Americans
And Europeans began to embrace the tradition but not only is this ritual contrive,
de beers and other diamond distributors intentionally restrict the release of their stock to create the illusion of scarcity.
The fact is diamonds are extremely common minerals,
with a full supply release to the public,
the price would plummet but Debeer’s and their elk stock pile these precious stones in order to rip off the public.
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11. Bottled Water
There’s nothing quite like the feeling of pure ice cold hydration.
Some of us get our water for free from the tap but the rest pay for it at the cost of roughly $100 billion
a year and the number of people getting their water exclusively in bottles Is growing at a rate of 10% a year.
The first issue is that bottled water is 300 times more
expensive than tap water and then there’s the fact that most of the biggest brands including Aquafina
and Nestlé pure life are actually filled from the tap as well, in fact a recent report found out almost half of all bottled water is actually derived
from the tap meaning that they are up charging customers 30,000% for the same product.
Add to this, the horrific environmental impact of millions of tons of plastic
dumped into landfills and bottled water is easily one of the biggest corporate ripoffs in history.
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It comes as no surprise that the average person has Minuscule chance of winning the lottery,
the chances of winning a top prize in the average lottery are almost 68,000,000 to 1 but in some cases there is literally no chance that people can win,
that’s because most lotteries continue to sell tickets to unknown customers Even after the price is already been distributed and then
there’s the quick pick tickets sold through Powerball lottery,
these tickets are intentionally printed without the winning numbers so you only stand a chance of winning if you choose your own numbers.
Expects advice that the average person would have better luck placing their money on any random stock or bond,
the chances of this investment appreciating our millions of times more likely than on a lotto ticket.
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9. Career Sites
It’s no secret that sites like monster and CareerBuilder are not effective for finding a high-quality long-term job.
Most of the best jobs never even make their way to job boards but it turns out this game goes even further,
most of these companies will sell your information In order to turn a profit, even if you never find a job in the process,
this can lead to more serious scams for example many users will receive emails with reference personal information obtained from
these job sites they will then offer the user Job only to scam them into transferring money to pay for a background check or training done.
Though they can seem tantalizing to the unemployed, most job sites are actually a recipe for disaster.
8. ATM Surcharges
Consumers hate all kinds of things but the idea of being charged to access your
own money in the form of ATM fees can elevate the frustration to a new level.
But consumers learned in 2016 that the ATM fees charged by many big banks are not merely annoying but that they violate antitrust laws,
it’s hard to tell just how much ATM operators may have overcharged every day consumers for accessing their money over the years.
The average ATM fee hits a new record high each time it’s measured.
The latest bank rate survey found out that the average customer using an out of network ATM will pay a total of $4.57 in
fees with an average of $2.90 going to the ATM owner and another $67 Going to the customers own bank. In many cases,
the consumer is only taking out $50 or less meaning they are paying a roughly
10% fee just for the service of accessing their own money.
7. College Textbooks
Most people already know that the American higher education system is needlessly expensive, US universities cost more than 500% more than the average college elsewhere on earth,
even including prestigious names like Cambridge and The Sorbonne, today over 44 million Americans hold a total of
$1.4 trillion in student debt but this debt doesn’t just come from the greatest tuition and fees,
a huge percentage results from grossly overpriced textbooks.
Often times textbooks cost hundreds of dollars and colleges explicitly prohibit the purchase of used textbooks, if they do allow used textbooks,
classes often require the purchase of a one time use code
which leads to supplementary materials most of which are never actually used.
And an even more devious cases, professors will assign their own textbooks or the textbooks of their friends in order to reap the benefits from this corrupt industry.
A handful of students have sued University in the last few years,
demanding the option to study for an affordable price but these cases are still working their way through the court system.
In the meantime, many students are turning to
downloading free PDF textbooks online in an effort to get through college without Massive debt.
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6. Electronics Companies
Apple is the second most valuable company in the world and those several other competitors of a similar products, none come close to the market capitalization.
That’s because Apple has a series of stringent policies meant
to rip every last cent from their customers.
The first is the massive over pricing of their products, when accounting for costs Apple charges as much as 800% more for their
products than for the costs of parts, labor, transportation and marketing. And then there’s the issue of accessories,
Apple makes their products incompatible with other charges
and add-ons meaning you need to buy their overpriced gadgets.
Lastly is a phenomenon called The obsolescence,
Apple has admitted to hardwiring that products to lose battery life and malfunction after only a few years, this creates the illusion that
your device is failing forcing users to buy a new product. Thus, boosting the astronomical Profits.
It’s easy to sympathize with the Starbucks customer who is suing
the coffee giant for providing two little Java in its grande, Venti, Trenta and tall iced coffee’s.
After doing the math on iced coffee,
studies revealing that a 12 ounce cup of the conversion should be a dollar less than the hot version,
that’s because the ice in Frappuccinos which is virtually free
displaces much of the coffee and other ingredients which are actually expensive,
Of course the courts ruled that this was not illegal but that doesn’t
mean it isn’t unfair, many customers are willing to pay more
for their coffee in order to guarantee that farmers are making a
living wage and beans are collected in a sustainable way.
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But That is simply not the case for Starbucks and other corporate coffee behemoths.
4. Fad Diets
The next time you watch an infomercial read an advertisement or spot a new supplement reporting miraculous weight-loss results,
Be wary that the company behind it may not have your best interest in mind,
when evaluating claims for weight loss products,
the federal commission recommends a healthy portion of
skepticism and most don’t come close to fulfilling their claims and in
the rare case Where a product might result in some
temporary weight loss it’s almost never a permanent solution and is usually on safe.
There is no known diet regimen that makes people skinny without exercise or dietary changes
so any company Cording to have these qualities is lying and it gets worse,
more than 50% of diet study are actually harmful to participants.
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3. Glasses and Contacts
The glasses and contact industry in the United States is considered a scam by many consumers.
Here’s how it works, in the US, contact lenses are regulated
no matter how old you are or how long it’s been since your vision has changed,
you need a doctor’s prescription less than one year old to be able to order Contact but in reality,
consumers need to check the prescription much less
frequently and this only leads to a multi hundred dollar fee for the optometrist and
the glasses manufacturer and the frames are massively overpriced as well.
According to History insider, you can get amazingly good frames
with Warby Parker level of quality for 4 to 8 dollars.
For $15 you can get designer quality frames like what you get from Prada.
2. Toilet Papers
The truth is that for years toilet paper manufacturer Have been selling less
product and masking the shrinkage with hyper bowl and hard to quantify claims.
According to John T Kerrville a marketing professor at Harvard business school,
“they get away with it because consumers have a better grasp
of how much an item cost than they do of the size it should be,
they have in their minds that this toilet paper cost 79 cents and that one cost 89 cents.
They are not taking into account that one has fewer sheets”.
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In fact the average toilet paper manufacturer reduce the number
of Sheets in their roles were margin of 15% sometimes inflating the price in the process.
1. Movie Theatre Popcorn
It’s been estimated that movie theaters make an 85% profit at the concession stand on over priced soda,
candy, nachos, hotdogs and of course popcorn.
Movie theater popcorn has been called one of America’s biggest rip
offs with a retail price of nine times what it cost to make.
In 2012 after a Michigan man sued The movie theater for overcharging customers on snacks,
one theater owner spoke up in defense of charging eight dollars for a Coke and a box of goobers.
The majority of a price charged for a movie tickets,
he explains goes to the studios and distribution company not the theater.
Theaters it’s been said are really in the popcorn and candy business,
the showing your films is just an excuse to gather a crowd and try to
sell them battery snacks and sugary drinks.
EDITORS PICK :
#EndSARS Protests: I Have No Dime, No Kobo Investment In The Tollgate – Tinubu
Former governor of Lagos State, Chief Bola Ahmed Tinubu says he has no dime in the funds generated at the Lekki Tollgate.
Tinubu follows claims and reports that his interest and involvement in the shooting that took place on Tuesday is based on the fact that he was making money of the tollgate, a source of income that was crippled following days of the #EndSARS protest.
In a telephone interview with Channels Television, the All Progressives Congress (APC) stalwart said, ““I have no dime, no kobo investment in the tollgate”.
He also denied having any investment in the Lekki Concession Company, the firm which manages the tollgate.
Tinubu further denied being the one who gave the orders for the shooting of protesters at the Lekki Tollgate saying “I will never, never be part of any carnage. I will never be part of that.”
Tinubu questioned the logic behind the use of live arms on protesters who were unarmed.
The APC chieftain said he was accused and reported to the presidency that he was behind the protests.
He said their are still claims that it was him who sponsor of the protesters.
According to Tinubu, it was his intervention that that spurred Governor Babajide Sanwo-Olu to respond to the demands of the protesters.
“That was why he (Sanwo-Olu) set up the Judicial Commission of Inquiry. The governor has gone to the home of one of the victims to appeal to them.
“He has put N200m together as part of restitution and compensation for those attacked.”
Earlier on Tuesday, Tinubu cautioned protesters against giving the impression that they wanted to cause anarchy.
He warned that “any government will necessarily have to act with the requisite decisiveness and force to restore law and order” if it is convinced that chaos is the purpose of any protest organized.
lekki-shooting: some-losses- are-irreplaceable and- we-will- get-justice-OSINBAJO speaks
– Vice President Osinbajo has reacted to the shooting of #EndSARS protesters in Lekki, Lagos state – Osinbajo expressed sadness over the deaths so far recorded while pledging that the FG will get justice for all of them – The vice president noted that he has spoken with some survivors of the ugly incident
Nigeria’s vice president, Professor Yemi Osinbajo, has expressed sadness over the killing of some #EndSARS protesting youths at Lekki Tollgate in Lagos state on Tuesday, October 20. In a thread of tweets posted on his verified Twitter handle, @ProfOsinbajo, on Wednesday night, October 21, the vice president also registered his condolence over the deaths of some policemen and other Nigerians in different parts of Lagos and other states. Noting that he has spoken to some survivors in the hospital, Professor Osinbajo admitted that some losses so far recorded can not be replaced.
Lekki shooting: Some losses are irreplaceable, we’ll get justice for all, Osinbajo speaks. Photo credit: Professor Yemi Osinbajo Source: Facebook He, however, pledged that the Nigerian government will get justice for all of them. He said: “I spoke to some of those in hospital. The pain of these terrible events is palpable in our towns and cities, and some losses are irreplaceable, but we can and will get justice for all of them. I stand with Lagos & all other affected states in these trying times.” The vice president also prayed that the nation will never see a repeat of such tragedies again.
The monarch who is the president-general of the Nigerian Supreme Council for Islamic Affairs (NSCIA) made the move over the unrest across the country that has led to the loss of lives in Lagos, Benin and other locations. The monarch requested all Imams across the country to dedicate their sermons to the ongoing crisis in the country, by calming down the strained nerves with their clement preaching for peace as well as their verbal ventilation of the national atmosphere for permanent tranquillity to the benefit of all and sundry.
EndSARS: Obaseki gives escaped inmates 3-days ultimate to return
Edo State Governor, Godwin Obaseki has given the inmates who escaped from the Benin Medium Security Correctional Centre, Sapele Road and the Oko Medium Security Correctional Centre up till Friday, October 23 to return voluntarily or face the wrath of the law.
According to Nigerian Tribune, the governor gave the three-day ultimatum in Benin on Wednesday, October 21, while on an assessment tour of the facilities in company of the the Controller of Correction, Edo State Command, Babayo Maisanda, who announced that six out of the 1,993 inmates who escaped during the jail breaks had voluntarily returned.
It would be recalled that some hoodlums who highjacked the peaceful #EndSARS protest in the state had on Monday attacked the two Correctional Centres and freed the inmates after unleashing terror on the facilities, its personnel and their properties, mostly, vehicles. [Swipe]
‘History Will Remember You’: Ighalo Slams Govt Over Lekki #EndSARS Protest Shooting
Nigerian forward Odion Ighalo has slammed Nigerian authorities over the shooting of #EndSARS protesters by soldiers in the Lekki area of Lagos State.
He condemned the shooting by the security operatives which led to the death and injury of several protesters on Tuesday evening at the Lekki toll gate.
“I am sad and heartbroken; I don’t know where to start from,” the Manchester United striker said in a Twitter video after the English Premier League side won their Champions League fixture against Paris Saint-Germain (PSG).
He added, “Today, October 20, 2020, you people will be remembered in history as the first government that sent the military to the city to start killing their own citizens.”
Ighalo, who says he is not the type that gets involved in politics, believes it will be a disservice for him to keep quiet on the shooting.
He took a swipe at the government for the incident, stressing that the people were tired of them and could not condone such a reckless act any longer.
The 31-year-old said, “I can’t keep quiet anymore on what is going on back home in Nigeria. I will say Nigerian government, you guys are a shame to the world for killing your own citizens; sending the military to the streets to kill unarmed protesters, it is uncalled for.
“I am ashamed of this government, we are tired of you guys, and we can’t take this anymore.”
He, therefore, called on the United Nations and the United Kingdom among others to intervene in the crisis in Nigeria.
Ighalo also urged them to help the poor Nigerians and caution the local authorities against “killing their own citizens”.
He appealed to the youths to, as much as they could, stay safe and steer clear of activities that could lead to a recurrence of the ugly incident.
UN Condemns Shooting Of Lekki Protesters, Calls For End To Police Brutality In Nigeria
The United Nations’ Secretary-General, Antonio Guterres, has called for an end to police brutality in Nigeria, condemning violent clashes that claimed multiple lives and caused many injuries.
This position was contained in a communiqué by his spokesperson, Stephane Dujarric.
According to the statement, the Secretary-General has been following recent developments in Nigeria and has called for an end to police brutality and abuses.
Mr Guterres condemned the shooting of protesters on Tuesday at Lekki in Lagos which resulted in multiple deaths and caused many injuries.
He expressed his condolences to the bereaved families and wished a speedy recovery to those injured.
The Secretary-General called on the Nigerian authorities to investigate the incidents and hold the perpetrators accountable.
The UN chief urged the security forces to act at all times with maximum restraint while calling on protestors to demonstrate peacefully and to refrain from violence.
The Secretary-General encouraged the authorities to swiftly explore avenues to de-escalate the situation.
He reiterated the readiness of the United Nations to support national efforts towards finding a solution.
Step By Step Guide On How To Trade Boom 500 and Crash 500 index
How To Trade Boom 500 and Crash 500 index
Today’s post will be about the techniques i use to trade Trade Boom 500 and Crash 500, they are safe cos i’ve used them myself.
Boom 500 and Crash 500 are synthetic indices aspect of forex trading, these are markets that ticks base on simulation from stocks, often times there are single future assets like Boom 500 which might be simulated by over 100 company’s stocks, this is known as constituent so it’s quite challenging to study how to trick the market, no 100% perfect strategy.How To Trade Boom 500 and Crash 500 index How To Trade Boom 500 and Crash 500 index
This makes it harder for brokers to game the traders as the market is volatile enough on its own.
Personally I trade synthetic indices than currency pairs, am not too good with fundamental analysis so I find it easier doing technical analysis and place my trade for profits. (Technical analysis(TA) is only needed in Synthetic indices so it gives me an edge to win always).
Strategies for Trading Boom and Crash
Forex trading is quite challenging for all newbies, the first issue you will run into is where to learn a good strategy to make good money from trading.
How To Trade Boom 500 and Crash 500 index How To Trade Boom 500 and Crash 500 index
This problem might lead you to join some signal groups on facebook or telegram that will help you blow your account by giving you bad signals. How To Trade Boom 500 and Crash 500 index
One thing people fail to understand is that, no one will give you free sure signal, if the provider is pretty sure about the signal, he/she would use it for their personal trade, they literally gain nothing from giving you free signals that will help you make huge money, they lose nothing too but then they acquire the knowledge at a cost so at some points they will want to earn from it. How To Trade Boom 500 and Crash 500 index
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So there is risk attached to every signal out there, the best of traders don’t give signals, they don’t have that time. So I will advise you stay away from signal groups. Boom 500 and Crash 500 index Boom 500 and Crash 500 index
The second mistake people make is portfolio management, don’t entrust your money to someone who claims to be Pro at forex trading to help you manage, it doesn’t work that way.
The said Pro might face some bad market and help you lose your money as he/she is trading under high pressure.
Some account managers are just scammers that will do away with you money.
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Moving on to boom and crash trading strategies, I will be explaining just 2 strategies here.
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1. First strategy is with the use of a special custom indicator which will help you analyze the market easily.
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2. The second strategies is with the use of Moving Average 9 (M9) and Alligators, Below is a video for you to know how this works and you can set it up and use it to analyze the market and trade successfully.
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Laycon: Biography, Networth And All You Need To Know
Olamilekan Agbeleshie popularly known as Laycon is BBNaija’s housemate for this year’s Lockdown Edition. Laycon before joining the house is a singer and a rapper who hails from Lagos.
The 26 year old was born in 1996 to Mr & Mrs Agbeleshe.
Laycon started his music journey at an early age. Many have tagged Laycon as the new school of rap music in Nigeria. He is a graduate of the University Of Lagos with philosophy.
Laycon also describes himself as being versatile and able to coin words together to soothe scenarios and moods.
According to Laycon he said during the lockdown, he developed the ability of singing and reading my bible.
His song ‘Fierce’ featuring rapper Reminisce and Chinko Ekun making it to MTV BASE Top ten charts for six months is one of his biggest achievements.
After his inclusion, Laycon has gotten numerous endorsements from most celebrities just for him being a rapper.
Laycon Social Media Handle
You can follow Laycon on his instagram account @itslaycon and on twitter @itsLaycoon
According to reports, Laycon is networth is estimated to be around $7,000