Monday, November 09, 2009

American Money Smarts

Just how smart is the typical American when it comes to money matters?

Jay Leno "Jaywalking" segment - quizzing Americans on the economy.




Man tries to sell $1100 one ounce gold coin for $50




If these videos truly represent the economic and monetary knowledge base of the masses out there then God help us all - because we are absolutely doomed as a society.

8 Comments:

At 11/09/2009 10:56 PM, Anonymous Anonymous said...

Yes, this society of material worshiping, boob tube mesmerized, self centered, can't look past the end of their noses, and altogether bunch of fools are doomed. Minus a very small minority.

Just look at how they laugh hysterically at their own fucking ignorance. Hahahahahahahaha.....were so fucking dumb...hahahahahahahaha

Justin_n_IL

 
At 11/09/2009 11:30 PM, Anonymous T Z said...

Let's review the following conversation between a Senator in Congressional hearing with Greenspan:

Senator: You testified that you disapproved of any proposals to regulate credit, mortgage, mortgage-backed security, and financial derivatives.

Greenspan: Yes, for two reasons. First, these products are created and managed by the world's best experts in Wall Street. Second, the financial managers operating in the free market can perfectly manage themselves for the interests of their customers. Free markets self-regulate. There is no need for government to regulate them.

Senator: You do mean financial people have perfect morals, that moral hazards cannot exist? That frauds and Ponzi schemes cannot happen?

Greenspan: The chance of any such happening is so low, in our free market system, that we can be quite safe. Any attempt to regulate will do far greater damages than any possibility of misconduct.

Now ask, who is dumber - the kids Jay Leno asked on the streets, or Greenspan, PhD.

 
At 11/10/2009 9:56 AM, Anonymous Anonymous said...

Greenspan is not that dumb. He is just a blatant liar. Do you actually believe that he believed the b.s. that was spewing forth from his own mouth? Come on...lol

Justin_n_IL

 
At 11/10/2009 12:04 PM, Anonymous Anonymous said...

I have to agree with Justin_n_IL above in his astute appraisal of the peoples of the U.S.

The majority of the American public are dumber than rocks. I mean it's way beyond pathetic, it's downright scary! I never cease to be amazed by their ignorance and apathy ("I don't know & I don't care").

As long as they can watch Oprah, Dancing with the Stars, American Idol, Jerry Springer and other mind-numbing 'entertainment'; go mall-shopping and dine out, they seem happy. That's only because they're totally oblivious to reality. One day soon when, not if, the bottom drops out of the American (and eventually global) economy, they'll have one question: WTF?
Elihu

 
At 11/10/2009 1:02 PM, Blogger qrisren said...

Although I agree most citizens in the US are relatively uneducated on some of the most important issues in our society, I don't think the gold coin video really shows that. If I were approached on the street by someone trying to sell me what they said was a one ounce gold coin for 50 bucks, I would assume he was just another scammer trying to either waste my time or steal my money. Honestly, if you stopped for every boob on the street trying to sell you a good deal, how much time would you waste.

 
At 11/10/2009 4:57 PM, Anonymous Michael said...

Americans don't deserve democracy, economic prosperity, or civil liberties. They deserve to be serfs, nothing more.

 
At 11/10/2009 6:15 PM, Anonymous Anonymous said...

Anon,

With the following you pulled the disgust right from my heart.

"As long as they can watch Oprah, Dancing with the Stars, American Idol, Jerry Springer and other mind-numbing 'entertainment'; go mall-shopping and dine out, they seem happy. That's only because they're totally oblivious to reality. One day soon when, not if, the bottom drops out of the American (and eventually global) economy, they'll have one question: WTF?"

It is truly heart breaking for me to be surrounded by such people. When well meaning informed individuals try to inform them the majority brush them aside often times with anger.

Just today I was at a house where the lawyer guy from Law and Order who does the Ameritrade commercials was talking about green shoots, etc. and another person in the house commented on how you were a fool not to ride out the stock market. As said above that person along with many others will only be able to say WTF when the SHTF.

The level of ignorance and as Anon said "apathy", is truly appalling.

Justin_n_IL

 
At 11/14/2009 3:01 AM, Blogger Marcf said...

The video annoyed me. Of course I wouldn't buy it on the street from a jackass offering me something worth $1000 for $50. The video doesn't prove anything.

 

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