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still_one

(92,116 posts)

6. Those are two different points. Financial literacy is NOT a bunch of hooey. Listening to talking

Reply to unrepentant progress (Original post)

Wed Apr 17, 2013, 09:38 AM

Apr 2013

heads on cnbs, to a lesser extent Bloomberg, and other so called business outlets, are mostly hooey. Even reading WSJ rumors/stories ares just someone pushing something. However, financial literacy is not in my view that. It is understanding how to diversify and save so for the long term.

People saving for retirement in this country is pathetic.

For instance if people are looking for a very little risk place to save their money, they could put some of that saving into I-Bonds. It is directly through treasury direct, and is currently paying 1.79% interest rate through April. No, it is a lot of interest, but compared to a savings account or treasuries, it is far superior. In addition, if the inflation rate goes up, that interest rate will go up.

A diversified saving strategy that includes blue chips, fixed income, cash, and real estate is important, and for people not to rely on a "talking" head that is pushing his companies nonsense, but think long term.

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Why 'financial literacy' is a bunch of hooey – and why the banks promote it [View all] unrepentant progress Apr 2013 OP

Indeed it is. They're trying to place a sales program into a universal curriculum. Egalitarian Thug Apr 2013 #1

Didn't the right try to do this too with "economic literacy" programs in the 1980s and 1990s? unrepentant progress Apr 2013 #3

They sold that fantasy exactly the same way they sold the "Land of Opportunity" and Egalitarian Thug Apr 2013 #8

Absolute REC, and I'm buying this book. HughBeaumont Apr 2013 #2

I have mixed feelings about this article el_bryanto Apr 2013 #4

I agree. While the banks have come up with more and more scams... Phentex Apr 2013 #7

That's what I understand to be financial literacy and I think it is very important to teach it.. nessa Apr 2013 #12

As it is taught in our local high school... nessa Apr 2013 #5

Merely espousing common-sense platitudes ignores greater economic problems. HughBeaumont Apr 2013 #16

One financial landmine can set you back .... nessa Apr 2013 #22

Those are two different points. Financial literacy is NOT a bunch of hooey. Listening to talking still_one Apr 2013 #6

Knowing how to play three card Monte and understanding the trick doesn't make the game any Egalitarian Thug Apr 2013 #9

+1! unrepentant progress Apr 2013 #10

Interesting that you refer to 3-card Monte because it can be used as a diversion when a pickpocket AnotherMcIntosh Apr 2013 #11

I had forgotten that part of many of the games. Thanks for pointing it out. n/t Egalitarian Thug Apr 2013 #25

The pact goes both ways, as you say. el_bryanto Apr 2013 #13

I'm not sure I understand what you mean when you write "contribute to the system". Egalitarian Thug Apr 2013 #14

Ok two things el_bryanto Apr 2013 #15

Take a look at the National Debt . . . HughBeaumont Apr 2013 #18

I think fixating on the debt is part of our current problem el_bryanto Apr 2013 #19

No, I don't think so. The banking/financial industry, and the families that own/control it, Egalitarian Thug Apr 2013 #21

I believe that humans have agency - even humans in much worse situations than el_bryanto Apr 2013 #23

You proclamation; "I am a capitalist" is in and of itself meaningless. Obviously you have some Egalitarian Thug Apr 2013 #24

I remember many years ago when I was in high school we had a guest speaker petronius Apr 2013 #17

K&R. We have been sucked dry... YoungDemCA Apr 2013 #20