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No doubt about it. But shouldn't the financial crisis serve as a watershed moment for America? Shouldn't the Great Recession be a turning point whereas American's are scared into learning how to manage money? The Great Depression changed American mentality on the macro-level. Just ask your grandparents. The Great Recession should do the same. If we don't learn something from this economic downturn, then we're doomed.
Unfortunately, the Great Recession hasn't been nearly as bad as the Great Depression was (at least so far), which is why not as many people have learned the lesson. It's too bad humans tend to only learn the hard way.
Valid points, except citizens didn't have the debt-load that they are carrying today. It's easy to crow about rock-n-roll and the death of civil society, but how do you ignore monstrous debt loads and the inability of people to manage that debt? This nation revolves around cash flow and solvency. It doesn't revolve around Elvis Pressley or birth control.
A valid point. The U.S. has never had the kind of collective debt load that it has today. I know some will say it was this bad after World War 2, but at that time, the debt of the citizens was low. And Social Security was just getting started. Medicare & Medicaid didn't even exist yet....so near term government liabilities were much, much lower after WW2 than they are today.
There is honest disagreement in good faith between these elites. The conservative elites prefer corporatism, consumerism and religion to perform this function. I think they will continue to compromise and use every available institution to achieve this.
Exactly. If one set of controls doesn't work, just use another. Everyone notices the way the other guy is manipulated but never thinks they themselves are manipulated. That is how the elites keep the game going.
Why is it considered "beneath" me to expect people to be able to manage their own money? Are you folks that mentally crippled?
It's not necessarily that you're wrong. It's more that you've got a judgemental "I'm superior" attitude. It rubs people the wrong way. By the way, I'm not just picking on you, I see those of a more liberal bent on their high horses, too.
It's really time we all start noticing and fixing our own faults instead of only other people's. Our country really is circling the drain, and the better than thou attitude, regardless of whom it's coming from, is simply not helpful.
It's really time we all start noticing and fixing our own faults instead of only other people's. Our country really is circling the drain, and the better than thou attitude, regardless of whom it's coming from, is simply not helpful.
A nice idea, but one that seems impossible to achieve in the current media and political climate.
Why are the OP figures that surprising? Look at what the older generations have done to this country with debt. Look at the savings rate for the baby boomers.
It's not the public schools job to teach kids about finance, its the parents. If the kids are failing this badly, look to their "teachers" for where it came from.
29 years old and has "no idea" on "where to start" with budgeting her money? That's beyond absurd. It's shameful!
But she's not alone. How bad is the probem?
And that's actually an improvement! Check this out:
And you are shocked? Really?
How can you expect someone to put into practice what they don't know and haven't learned? I couldn't expect you to automatically preform perfect neurosurgery on the first time, then get upset 'cause you caused your patient to be a veggie now could I?
Quote:
Originally Posted by AeroGuyDC
Why is it considered "beneath" me to expect people to be able to manage their own money? Are you folks that mentally crippled?
Again, you can't expect people to know something they haven't been taught. Blame it on their parents, blame it on the school system, blame it on the Gov for not mandating that schools teach this.
Conservatives and RWNJ’s have fun criticizing the "Millennials" for not behaving like they do, did or say they did. Maybe the Millennials are being rational? When a savings account pays less than inflation why put any money into one? When you have see your parents stock investments devastated by a market “retrenchment” why should you take the chance?
It actually makes sense to buy as much on credit, like most American businesses, as possible while maintaining a cash flow just above the interest payments and using a social welfare system as an insurance policy. That way you can at least enjoy the now with your friends instead of worrying about a future that looks worse than the past. "Eat, Drink and be Merry" looks like a good piece of advice considering the likelihood of a political, economic or social collapse. These kids are not stupid or unaware. They looked at the actual situation and have dropped out of the game. Sensible kids.
I wonder if old white conservatives realize they are the ones that put us in this mess, the young citizens are the victims.
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