It is NOT the government's fault that you can't manage your money! It's not the government's fault that you are ignorant enough to think that making 20,000 bucks a year is enough to afford a $800,000 home! You blame the lender?! He made it too easy for you?! That's his job! The only person responsible for this lack of skilled personal finance is YOU! Are you suggesting that the government do the thinking for us? What kind of "free country" will this be when the government does all the thinking for us too? Are you saying that the only way you will abstain from making stupid decisions with your money is if there are rules that state "you cannot purchase items that cost more than you can afford" ... DUH! Dare I submit that you THINK about these things first?...
Perhaps the government is to blame... perhaps Americans should be forced to take personal finance classes. Ooo, I know! It should be similar to the right to drive. We should have to prove we know how to buy before we are given the right to buy. Upon receiving our first job, we should be enrolled in a personal finance class. After six months of the the class we can "take the test". If we pass, we receive a license without which we cannot be approved for any kind of financing. If we fail, we can take the test again in six months. This license can be revoked if we begin to do foolish things with our money.... so much for freedom.
2 comments:
yeah, preach it emily!
I dunno man.
I think im just more liberal i guess. Though, i do always feel silly in these types of discussions :S
And that makes my brain wonder to figure out if there is an actual right answer or if we are all just fooling ourselves and polarizing for no reason except for speculation.
Anyways...
Like sure, its not the governments 'fault' per se if someone only makes 20,000 a year and buys a million dollar home and can't afford it. But, i guess it would not be the Governments 'fault' if people got in car accidents because there were no speeding limits on free ways, or if there were no drinking and driving laws. Sure people need to take responsibility, and ultimately it is the individuals fault if they go too fast, or if they drink and drive; but as soon as it starts to effect the safety of other people on the road, should there not be more government regulations to at least 'try' to stop any potential dangers.
That's how is see government regulations i guess.
I don't think laws to stop danger in the free market is anti-capitalist, but rather it is just proper risk management. And sure, the free-market requires risk for reward, but if some certain high power institutions can risk the fiscal safety of the public in order for personal rewards, then it should be the governments responsibly to regulate in order of the publics interest.
What i mean is if some finical instuations can put the entire country's well being at risk by marketing sub prime mortgages towards people with little capital and low potential equity for personal gains, then that should of probably been regulated better by 'the people' (aka, government).
Are any laws perfect. No. I personally don't think so. But they are built for protection of owners of the dollar. I think its more free-market oriented to say that no one has the right to risk the equity or value of MY hard earned dollar in order for their own gain. No intitution or individual should have that right. And i think the government should protect the dollar so that no one can take that opportunity.
Again, i dunno.
Poke holes. Make metaphors. Tell me were i'm wrong. lol. Its not my niche
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