OT – Metlife American Dream study

[4plexowner]

“More than half of Americans would like to see more government involvement in the U.S. financial system and believe that is the best way to restore public confidence.”

One of the challenges we face as Americans is that our population does not study history in any depth

History shows that government involvement in the economy always makes matters worse and leads to unintended consequences

As long as we continue to think that the government is some benevolent big brother who will altruistically take care of us, we are doomed to being serfs for the 1% of the population that actually pull the power strings in America

[EconProf]

My biggest worry is the “entitlement mentality” that has come to dominate people’s thinking and decision-making. When faced with adversity, we now too often blame scapegoats or seek outside help instead of take measures to control our own financial destiny.
This attitude is most common among beneficiaries of government aid, but is remarkably frequent among middle income people. How many media pictures have we seen of long-term, well-paid job holders suddenly set adrift who instantly have a negative net worth. While working they saved nothing, maxed out their credit cards, and never prepared for a rainy day. Long ago people automatically kept a cushion for emergencies, many people budgeted, and credit cards were only issued by a few department stores. It seems we’ve bought into the advertisers’ instant gratification line, and are unable to visualize and plan for our financial future.

[EconProf]

My biggest worry is the “entitlement mentality” that has come to dominate people’s thinking and decision-making. When faced with adversity, we now too often blame scapegoats or seek outside help instead of take measures to control our own financial destiny.
This attitude is most common among beneficiaries of government aid, but is remarkably frequent among middle income people. How many media pictures have we seen of long-term, well-paid job holders suddenly set adrift who instantly have a negative net worth. While working they saved nothing, maxed out their credit cards, and never prepared for a rainy day. Long ago people automatically kept a cushion for emergencies, many people budgeted, and credit cards were only issued by a few department stores. It seems we’ve bought into the advertisers’ instant gratification line, and are unable to visualize and plan for our financial future.

[EconProf]

My biggest worry is the “entitlement mentality” that has come to dominate people’s thinking and decision-making. When faced with adversity, we now too often blame scapegoats or seek outside help instead of take measures to control our own financial destiny.
This attitude is most common among beneficiaries of government aid, but is remarkably frequent among middle income people. How many media pictures have we seen of long-term, well-paid job holders suddenly set adrift who instantly have a negative net worth. While working they saved nothing, maxed out their credit cards, and never prepared for a rainy day. Long ago people automatically kept a cushion for emergencies, many people budgeted, and credit cards were only issued by a few department stores. It seems we’ve bought into the advertisers’ instant gratification line, and are unable to visualize and plan for our financial future.

[EconProf]

My biggest worry is the “entitlement mentality” that has come to dominate people’s thinking and decision-making. When faced with adversity, we now too often blame scapegoats or seek outside help instead of take measures to control our own financial destiny.
This attitude is most common among beneficiaries of government aid, but is remarkably frequent among middle income people. How many media pictures have we seen of long-term, well-paid job holders suddenly set adrift who instantly have a negative net worth. While working they saved nothing, maxed out their credit cards, and never prepared for a rainy day. Long ago people automatically kept a cushion for emergencies, many people budgeted, and credit cards were only issued by a few department stores. It seems we’ve bought into the advertisers’ instant gratification line, and are unable to visualize and plan for our financial future.

[EconProf]

My biggest worry is the “entitlement mentality” that has come to dominate people’s thinking and decision-making. When faced with adversity, we now too often blame scapegoats or seek outside help instead of take measures to control our own financial destiny.
This attitude is most common among beneficiaries of government aid, but is remarkably frequent among middle income people. How many media pictures have we seen of long-term, well-paid job holders suddenly set adrift who instantly have a negative net worth. While working they saved nothing, maxed out their credit cards, and never prepared for a rainy day. Long ago people automatically kept a cushion for emergencies, many people budgeted, and credit cards were only issued by a few department stores. It seems we’ve bought into the advertisers’ instant gratification line, and are unable to visualize and plan for our financial future.

[Anonymous]

[quote=4plexowner]History shows that government involvement in the economy always makes matters worse and leads to unintended consequences[/quote]

Are you able to support this claim with facts?

There are plenty of examples to the contrary:

• S&L Deregulation: Led to S&L crisis
• Deregulation of the electrical power industry:led to Enron and the now familiar “rolling blackouts”
• Repeal of The Glass-Steagall Act: Big contributor to the current mess

Seems to me, that every time the government makes a move to keep hands off the economy, some Wall Street types use it as an opportunity to wreak havoc.

The government is far from perfect. But I trust it more than I trust corporations. If government doesn’t have the last word in the economy, the corporations will. (And, no, I’m not and advocate or “socialism” or anything close to it, just well-founded regulation.)

[Anonymous]

[quote=4plexowner]History shows that government involvement in the economy always makes matters worse and leads to unintended consequences[/quote]

Are you able to support this claim with facts?

There are plenty of examples to the contrary:

• S&L Deregulation: Led to S&L crisis
• Deregulation of the electrical power industry:led to Enron and the now familiar “rolling blackouts”
• Repeal of The Glass-Steagall Act: Big contributor to the current mess

Seems to me, that every time the government makes a move to keep hands off the economy, some Wall Street types use it as an opportunity to wreak havoc.

The government is far from perfect. But I trust it more than I trust corporations. If government doesn’t have the last word in the economy, the corporations will. (And, no, I’m not and advocate or “socialism” or anything close to it, just well-founded regulation.)

[Anonymous]

[quote=4plexowner]History shows that government involvement in the economy always makes matters worse and leads to unintended consequences[/quote]

Are you able to support this claim with facts?

There are plenty of examples to the contrary:

• S&L Deregulation: Led to S&L crisis
• Deregulation of the electrical power industry:led to Enron and the now familiar “rolling blackouts”
• Repeal of The Glass-Steagall Act: Big contributor to the current mess

Seems to me, that every time the government makes a move to keep hands off the economy, some Wall Street types use it as an opportunity to wreak havoc.

The government is far from perfect. But I trust it more than I trust corporations. If government doesn’t have the last word in the economy, the corporations will. (And, no, I’m not and advocate or “socialism” or anything close to it, just well-founded regulation.)

[Anonymous]

[quote=4plexowner]History shows that government involvement in the economy always makes matters worse and leads to unintended consequences[/quote]

Are you able to support this claim with facts?

There are plenty of examples to the contrary:

• S&L Deregulation: Led to S&L crisis
• Deregulation of the electrical power industry:led to Enron and the now familiar “rolling blackouts”
• Repeal of The Glass-Steagall Act: Big contributor to the current mess

Seems to me, that every time the government makes a move to keep hands off the economy, some Wall Street types use it as an opportunity to wreak havoc.

The government is far from perfect. But I trust it more than I trust corporations. If government doesn’t have the last word in the economy, the corporations will. (And, no, I’m not and advocate or “socialism” or anything close to it, just well-founded regulation.)

[Anonymous]

[quote=4plexowner]History shows that government involvement in the economy always makes matters worse and leads to unintended consequences[/quote]

Are you able to support this claim with facts?

There are plenty of examples to the contrary:

• S&L Deregulation: Led to S&L crisis
• Deregulation of the electrical power industry:led to Enron and the now familiar “rolling blackouts”
• Repeal of The Glass-Steagall Act: Big contributor to the current mess

Seems to me, that every time the government makes a move to keep hands off the economy, some Wall Street types use it as an opportunity to wreak havoc.

The government is far from perfect. But I trust it more than I trust corporations. If government doesn’t have the last word in the economy, the corporations will. (And, no, I’m not and advocate or “socialism” or anything close to it, just well-founded regulation.)

[4plexowner]

pri_dk – I wish I had a good answer for you – at this point I can’t clearly identify the lines between government / banking / judicial system / corporations

the only rule that seems to apply is that if you are part of the elite or connected to them, there are no rules

you are implying that govt regulation is part of the answer – I would agree with you IF there weren’t so many instances of the regulators blatantly ignoring warning signs – numerous people warned the SEC about Madoff (made off with the money, he did!) yet they turned a blind eye – several people are warning the CFTC about ilegal and manipulative short positions in the silver and gold markets yet the regulators fail to address their complaints

another point of discussion would be all of the Goldman Sachs executives who are now in power seats of international banking and government – a subtopic would be about corporate CEOs who move back and forth between govt positions and private positions – as a case study we might look and see who made the electrical power industry deregulation possible and what their connection to Enron was – repeal of Glass-Seagall Act enabled all the banking/investment games of the last decade which provided the banking lobbyists with lots of money for politicians who enacted more laws that benefited the banking industry …

And who is the government representing these days? There are 42,000 lobbyists in Washington, D.C. everyday – are they working on your behalf?

I don’t know all the answers but more govt doesn’t seem to be a good answer to any of the questions that I have – now, its chore time …

[4plexowner]

pri_dk – I wish I had a good answer for you – at this point I can’t clearly identify the lines between government / banking / judicial system / corporations

the only rule that seems to apply is that if you are part of the elite or connected to them, there are no rules

you are implying that govt regulation is part of the answer – I would agree with you IF there weren’t so many instances of the regulators blatantly ignoring warning signs – numerous people warned the SEC about Madoff (made off with the money, he did!) yet they turned a blind eye – several people are warning the CFTC about ilegal and manipulative short positions in the silver and gold markets yet the regulators fail to address their complaints

another point of discussion would be all of the Goldman Sachs executives who are now in power seats of international banking and government – a subtopic would be about corporate CEOs who move back and forth between govt positions and private positions – as a case study we might look and see who made the electrical power industry deregulation possible and what their connection to Enron was – repeal of Glass-Seagall Act enabled all the banking/investment games of the last decade which provided the banking lobbyists with lots of money for politicians who enacted more laws that benefited the banking industry …

And who is the government representing these days? There are 42,000 lobbyists in Washington, D.C. everyday – are they working on your behalf?

I don’t know all the answers but more govt doesn’t seem to be a good answer to any of the questions that I have – now, its chore time …

[4plexowner]

pri_dk – I wish I had a good answer for you – at this point I can’t clearly identify the lines between government / banking / judicial system / corporations

the only rule that seems to apply is that if you are part of the elite or connected to them, there are no rules

you are implying that govt regulation is part of the answer – I would agree with you IF there weren’t so many instances of the regulators blatantly ignoring warning signs – numerous people warned the SEC about Madoff (made off with the money, he did!) yet they turned a blind eye – several people are warning the CFTC about ilegal and manipulative short positions in the silver and gold markets yet the regulators fail to address their complaints

another point of discussion would be all of the Goldman Sachs executives who are now in power seats of international banking and government – a subtopic would be about corporate CEOs who move back and forth between govt positions and private positions – as a case study we might look and see who made the electrical power industry deregulation possible and what their connection to Enron was – repeal of Glass-Seagall Act enabled all the banking/investment games of the last decade which provided the banking lobbyists with lots of money for politicians who enacted more laws that benefited the banking industry …

And who is the government representing these days? There are 42,000 lobbyists in Washington, D.C. everyday – are they working on your behalf?

I don’t know all the answers but more govt doesn’t seem to be a good answer to any of the questions that I have – now, its chore time …

[4plexowner]

pri_dk – I wish I had a good answer for you – at this point I can’t clearly identify the lines between government / banking / judicial system / corporations

the only rule that seems to apply is that if you are part of the elite or connected to them, there are no rules

you are implying that govt regulation is part of the answer – I would agree with you IF there weren’t so many instances of the regulators blatantly ignoring warning signs – numerous people warned the SEC about Madoff (made off with the money, he did!) yet they turned a blind eye – several people are warning the CFTC about ilegal and manipulative short positions in the silver and gold markets yet the regulators fail to address their complaints

another point of discussion would be all of the Goldman Sachs executives who are now in power seats of international banking and government – a subtopic would be about corporate CEOs who move back and forth between govt positions and private positions – as a case study we might look and see who made the electrical power industry deregulation possible and what their connection to Enron was – repeal of Glass-Seagall Act enabled all the banking/investment games of the last decade which provided the banking lobbyists with lots of money for politicians who enacted more laws that benefited the banking industry …

And who is the government representing these days? There are 42,000 lobbyists in Washington, D.C. everyday – are they working on your behalf?

I don’t know all the answers but more govt doesn’t seem to be a good answer to any of the questions that I have – now, its chore time …

[Author]

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