[PF] People Must Stop Treating the Symptoms

Posted Under: Personal Finance, Thoughts

These days you open the financial news section, there isn’t a whole lot of good news going on in the section.
You see news about people losing their homes to foreclosures, due to “unforeseen” results of lending.
You see news about financial and investment companies losing their pants, figuratively, due to the subprime heap of mess.
You see news about toys recalls and decrease of quality in other products, due to cost cutting.
You see news about boomers retiring with inadequate savings, due to…I really don’t know, probably a bunch of reasons (excuses).

Also in the news, people argue about what kind of policy to implement to fix each of those problems, and in some cases, bailing out those people. But I say those problems are just symptoms of a rampant issue in society. By implementing policy that solve each of those problems will only provide solutions in the short term. On the long haul, they will come back to bite us once again, and probably with a vengeance.

I say the main issue is greed and irresponsibility. People are so drugged up with greed that lead to a lot of the problems we see today. Profits, profits, profits. And with only profits in mind, people took actions in order to make profits while ignoring or denying the fact that they will be responsible for the consequence later, as is happening in the market these days.

Hence, instead of solving those individual problems, I would urge people to put a tap on their greed and blatant ignorance to responsibility. If only people can learn to exercise a bit of self-control, maintain a clear mind, practice some discipline, understand responsibility… but those are not so fun to do. Such boring mumbo-jumbo. Making quick money is so much more fun! And from observation, the market and the government seem to perfer to have more fun instead of doing the boring stuff. Looks like it’s going to be a long road ahead, so we better buckle up.

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