Quote:
Originally Posted by Thunderball
These protests are pointless until people look themselves in the mirror and realize that they are the root cause of this problem.
Way too many people live way outside their means, and as a result, elect politicians on either side of the spectrum who promote this lifestyle by introducing irresponsible legislation on lending and borrowing. As a result, they allow banks to get into this ridiculous game of handing out money where they know they shouldn't. People jump on that wagon, and then blame the small percentage getting rich on the ridiculous game handed to them.
Simply blaming the last visible link in the downward spiral isn't going to solve anything. Neither is simply assuming its "the man" keeping them down.
I know more than a few professional doctoral students (who should know better) with $150,000 debts going on fancy vacations, driving newer vehicles, buying designer clothes, and going out for drinks several times a week... who then blame "the system" when they can barely afford to pay down their debt with the salary that firms offer them. We have to stop looking at our parents (the baby boomers)... they are the generation at fault. We need to look back at our grandparents (the war time generation) and how they handled money. Then we have to demand that sort of fiscal prudence from our governments... even if that means doing without some things here and there.
Until people are willing to embrace austerity and living within their means... these protests mean nothing.
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I mostly agree with what you're saying. People are blaming others for their own selfishness and stupidity. At the same time, there are a lot of responsible people who are going to get hit due to that same greed. I've never had an ounce of consumer debt and have an extremely healthy ratio of equity in my house, but that's not going to completely insulate me if housing prices crash and the government spends billions of tax dollars bailing out the banks and homeowners.
The lions in the cage analogy Cowperson mentioned above is a good one. Not only does the financial industry need to be caged to protect them from themselves, but so do average people.