On Sun, 27 Jan 2008 21:32:30 -0500, "Tom Gardner"
wrote:
snip
Is it my fault that most of the population knows nothing about
hard work and money management so they end up spending faster than they make
then expect a gov. bail-out or support?
snip
=====================
No, but in the larger sense it is not the "fault," of the people
in trouble either.

Take a good look at the US TV ads and shows. The people in
trouble are simply doing what the ads want them to do and are
mirroring the behaviors they see on the TV shows, not realizing
this is a highly toxic and counter-productive life-style. Think
Paris Hilton (and she or her family has unlimited money).

Indeed, the establishment "cure" for the current economic
"hiccup" [by comparison to what is likely to occur] is to
promote, extend and amplify the behavior patterns that caused the
problem in the first place, i.e. conspicuous over-consumption.
The traditional "hair of the dog that bit you" cure for a
"hangover," appears to be alive and well.

As far as bailouts go, if a bailout was for good for Chrysler,
good for Lockheed, good for the S&Ls, good for LTCM [Long Term
Capital Management], and good enough for the banks and brokerage
houses [e.g. FRB prime interest rate cut to below the rate of
inflation], then why aren't bailouts good for the people?
http://www.time.com/time/magazine/ar...947356,00.html
http://www.time.com/time/magazine/ar...903076,00.html
http://www.fdic.gov/bank/historical/s&l/
http://www.sjsu.edu/faculty/watkins/ltcm.htm
http://blogs.wsj.com/deals/2008/01/2...?mod=wsjcrmain

A major contributing factor to what you [and I] consider to be a
glairing and increasingly serious omission in high school
education, i.e. financial sanity and lifestyle review (which is
at least as important as sex education, HIV information, and
driver training) is that the "establishment," which relies on
consumer debt, recreational shopping and conspicuous consumption
for its existence, doesn't want it.

== In this context, what you don't know will not only hurt you,
it may well kill you, and in doing so, it may kill the country,
as we know it. ==

Take a look at the SCANS [ Secretary's Commission on Achieving
Necessary Skills ] Report that is the basis for
no-child-left-behind and other educational
initiatives/cures/elixers/panaceas/snake-oil, and see if you find
anything on "sustainable lifestyles" and/or "financial prudence."
For SCANS information click on
http://wdr.doleta.gov/SCANS/

Another factor is that many parents feel threatened when their
children get even basic financial/lifestyle information and start
asking questions about their family lifestyles/values.

The politicians aren't too happy either, when "the people" start
asking too many questions and putting limits/controls on their
spending [e.g. TaBOR]. For some examples of their whining click
on
http://en.wikipedia.org/wiki/Taxpayer_Bill_of_Rights
http://www.thebell.org/issues/fiscal/tabor.php