Tuesday, July 17, 2012

Three financial fails observed recently


I was at the grocery store customer service counter a few weeks ago when a man in front of me asked to buy lottery tickets.  It amazed me to actually see a grown man who should have known better buying the things.  I have heard of how the lotto preys on the poor but to see it right in front of my eyes was sad and astounding all at the same time.  He left the counter with a silly grin on his face, obviously dreaming of getting rich quick.

Not too long ago, I heard a most ignorant comment.  A man said that the government could not be spending all this money like it does if the money was not there.  The implication was that we weren't in trouble financially in this country and we could just merrily keep on spending.  I never heard such an argument in the past and it left me stunned.  This man was so oblivious to reality it left me with no comment.  He has no idea how far in debt this country is in nor how much each of us owes.

At a town meeting I attended, a woman spoke up to suggest that the town borrow the money needed to pay for road repair.  Why wait?  Fortunately, the chairman calmly spoke some sense and told her that for the town to borrow for todays consumption was like putting the money on a credit card.  That silenced her fortunately and put an end to the matter.  

I am so amazed at the incredible lack of understanding displayed by the citizens around me.  These people I have described evidently take no time to read or listen to any credible source of information.  People, listen.  Lotteries are not a way to get rich, the government does not have an endless supply of money, and borrowing is a sure way of going broke.

What displays of financial ignorance have you seen lately?

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