Comments on: On the Brink of Rebellion: National Priorities and the Housing Crisis http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/ Learn, Network, Invest Sun, 22 Nov 2009 20:12:38 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Tom Koziol http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/comment-page-1/#comment-59287 Tom Koziol Tue, 12 Aug 2008 18:02:23 +0000 http://www.biggerpockets.com/renewsblog/?p=1152#comment-59287 I agree almost totally with the Foreclosure Doctor Online with one exception. The make smart financial decisions phrase is a phrase that sounds and looks good on the surface. However, when one scratches the surface, one sees the incapacities and incapabilities of the average Joe and Sara to make smart financial decisions. I make this remark based on experience. When I was a stockbroker, I interviewed, eyeball to eyeball, approximately 2000 people. the lack of financial comprehension astounded me. Most expected me to be their personal guru. Only 1% could articulate their risk tolerance and actually mean what they were saying. Most did not know a mutual fund from an annuity. I could go on but I think you get the idea. Now, imagine that the education system has deteriorated from what it was in the 1980's and ask yourself how capable are today's graduates of making "smart financial" decisions. Here's the smartest financial decision anyone can make: DO NOT re-elect any incumbent. I agree almost totally with the Foreclosure Doctor Online with one exception. The make smart financial decisions phrase is a phrase that sounds and looks good on the surface.

However, when one scratches the surface, one sees the incapacities and incapabilities of the average Joe and Sara to make smart financial decisions. I make this remark based on experience.

When I was a stockbroker, I interviewed, eyeball to eyeball, approximately 2000 people. the lack of financial comprehension astounded me. Most expected me to be their personal guru.

Only 1% could articulate their risk tolerance and actually mean what they were saying. Most did not know a mutual fund from an annuity.

I could go on but I think you get the idea. Now, imagine that the education system has deteriorated from what it was in the 1980’s and ask yourself how capable are today’s graduates of making “smart financial” decisions.

Here’s the smartest financial decision anyone can make: DO NOT re-elect any incumbent.

]]> By: Foreclosure Doctor Online http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/comment-page-1/#comment-59286 Foreclosure Doctor Online Tue, 12 Aug 2008 17:25:06 +0000 http://www.biggerpockets.com/renewsblog/?p=1152#comment-59286 Interesting post! I would definitely say that the government played a key role in putting our economy where it is today. We can continue pointing the fingers at all the different people to blame, but the bottom line is this: Live responsibly, and make smart financial decisions, and you will not be affected . Interesting post! I would definitely say that the government played a key role in putting our economy where it is today. We can continue pointing the fingers at all the different people to blame, but the bottom line is this: Live responsibly, and make smart financial decisions, and you will not be affected .

]]> By: BEN http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/comment-page-1/#comment-59268 BEN Tue, 12 Aug 2008 04:24:20 +0000 http://www.biggerpockets.com/renewsblog/?p=1152#comment-59268 I find it so disgusting that most voters only turn out during Pesidential election years. The media as well as the "average" voter, act as if the President and his administration have all the power in our government. We are so concerned about ousting the Prez if and when he does something we don't like and simply re-elect all of the bozos in congress year after year. When are we all going to wake up and realize the real power lies in Congress and THEY need term limits?? Sometimes I believe the Congress should be limited to a single term. If there were no more "bridges to nowhere", or Dennis Hastert "Parkways" that nobody in his district wanted but certainly helped him cash in on nearby property that he bought while pushing the project thru then maybe, just maybe we would have the ability to become the country we could be. You know, history has shown us that Democracies generally last no more than 200+/- years because eventually the people learn how to get the government to simply open up the treasury and give the people money for what ever ails them. Like bad mortage decisions maybe. The ever expansion of individual "rights"without corresponding "responsibilities" will eventually be our downfall. Sorry, I am officially off the soapbox now. I find it so disgusting that most voters only turn out during Pesidential election years. The media as well as the “average” voter, act as if the President and his administration have all the power in our government. We are so concerned about ousting the Prez if and when he does something we don’t like and simply re-elect all of the bozos in congress year after year. When are we all going to wake up and realize the real power lies in Congress and THEY need term limits?? Sometimes I believe the Congress should be limited to a single term. If there were no more “bridges to nowhere”, or Dennis Hastert “Parkways” that nobody in his district wanted but certainly helped him cash in on nearby property that he bought while pushing the project thru then maybe, just maybe we would have the ability to become the country we could be. You know, history has shown us that Democracies generally last no more than 200+/- years because eventually the people learn how to get the government to simply open up the treasury and give the people money for what ever ails them. Like bad mortage decisions maybe. The ever expansion of individual “rights”without corresponding “responsibilities” will eventually be our downfall. Sorry, I am officially off the soapbox now.

]]> By: Ken http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/comment-page-1/#comment-59194 Ken Sat, 09 Aug 2008 01:06:40 +0000 http://www.biggerpockets.com/renewsblog/?p=1152#comment-59194 You can never agree on spending habits. However you can cut them back. If McCain can cut back wasteful spending he will be on the $100 bill. If you bring in $2k a month then you start bringing in $2.5k a month you will buy more. Most likely you won't reinvest that money or put towards the maintenance of your house.The housing issue came from uneducated people trying to make an educated decision, and congress sitting on their hands. Don't ask me why someone would want to be in politics if they went by the book. A plant manager can make more than a congressman. They need to cut back on spending, raise pay for our leaders so we can get some decent leaders to run. You can never agree on spending habits. However you can cut them back. If McCain can cut back wasteful spending he will be on the $100 bill. If you bring in $2k a month then you start bringing in $2.5k a month you will buy more. Most likely you won’t reinvest that money or put towards the maintenance of your house.The housing issue came from uneducated people trying to make an educated decision, and congress sitting on their hands.

Don’t ask me why someone would want to be in politics if they went by the book. A plant manager can make more than a congressman. They need to cut back on spending, raise pay for our leaders so we can get some decent leaders to run.

]]> By: Brock http://www.biggerpockets.com/renewsblog/2008/08/08/on-the-brink-of-rebellion-national-priorities-and-the-housing-crisis/comment-page-1/#comment-59174 Brock Fri, 08 Aug 2008 17:02:53 +0000 http://www.biggerpockets.com/renewsblog/?p=1152#comment-59174 The primary problem is that people (the voters) don't care. We could elect better representatives, but we don't. The vast majority of voters seem to have one or two "check boxes", and if the Congress critter meets those he gets the vote. All other actions, no matter how slimy, get a pass. As for the website you link to, I think the most misleading thing about "spending" sites (how $10 was wasted on A, rather than worthy project B), is that government spending is a smaller burden on the public than wasteful regulations. Minimum lot sizes, zoning, building codes, government monopolies on education and transit - all of these effect us far more every day, by either destroying wealth or squelching growth, than how tax dollars are spent. But I do look forward to your thoughts tomorrow. The primary problem is that people (the voters) don’t care. We could elect better representatives, but we don’t. The vast majority of voters seem to have one or two “check boxes”, and if the Congress critter meets those he gets the vote. All other actions, no matter how slimy, get a pass.

As for the website you link to, I think the most misleading thing about “spending” sites (how $10 was wasted on A, rather than worthy project B), is that government spending is a smaller burden on the public than wasteful regulations. Minimum lot sizes, zoning, building codes, government monopolies on education and transit – all of these effect us far more every day, by either destroying wealth or squelching growth, than how tax dollars are spent.

But I do look forward to your thoughts tomorrow.

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