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23 March 2014

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Joe - " The other 90% are working people who have fallen on hard times."
They usually 'fall on hard times' because they have no self control.
The vast majority of hard luck cases involve folks that make very poor choices.
As soon as you start working, you should start saving. Always have some thing in reserve. Don't have kids until you can afford them with out public assistance. On and on. Don't blame Madison Ave. They can't make anyone do anything.
Why does the govt reward folks taking out loans and punish savers? The govt is to blame for setting a bad example and encouraging bad behavior.

Joe Koyote

"The govt is to blame for setting a bad example and encouraging bad behavior." -- I totally agree with that, especially when no bid contracts, cost overruns, bogus subsidies, and other rip-offs are included. Until, when and if our society/culture does a better job of educating people about self-reliance, what are our options with regard to these people? Is there a societal/cultural obligation to provide assistance? If so, who will provide that assistance, public, private, or a combination of the two? What happens if we do nothing? Which course of action is the most cost effective and least disruptive to the society at large? There is no easy answer.

Don't blame Madison Ave. They can't make anyone do anything. -- you underestimate their powers of persuasion especially now that they are able to amass such large amounts of information about people, their buying habits, the media they consume, what they eat, and what kind of toilet paper they buy. A recent study about the themes of the top ten popular songs on a weekly basis for the last 50 years is being touted as the next big leap for advertisers because it reveals what emotions people have the greatest unconscious response to as indicated by the song lyrics. If i works it would be pretty sneaky.

George Rebane

Administrivia - I found my summary notes on Schiff's book and have posted them here -
http://rebaneruminations.typepad.com/rebanes_ruminations/2014/04/the-real-crash-summary-notes.html

Bill Tozer

Speaking of Love Fest, this should have us in California seeing red.

http://www.foxbusiness.com/personal-finance/2014/03/24/blue-state-residents-should-be-seeing-red/

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