Build Wealth and Improve Your Net Worth – Stop Being a Slave towards the Economy and Educate Oneself

By nurdinkontol12 on January 21, 2011 In Internet and Online Business

Foreclosures will climb to over two along with a half million by the finish of 2008

Henry Paulson, the U.S. Treasury Secretary, stated in July that 2.5 million people could have the procedure of foreclosure started on there household before the finish of the year. Most of them being the homeowner’s personal fault for taking out loans they knew they could not afford.

He also stated “There is small public policy-makers can, or really should, do to compensate for untenable economic decisions.”

I’ve to say for an educated man, that is certainly quite possibly one of the most uneducated, shallow, closed minded and selfish basic statements a person of his stature could possibly make. The majority of the middle working class people who are experiencing a foreclosure are either in financial distress dues to a sickness, job loss, divorce, death, or aren’t properly educated to create economic decisions like refinancing their homes or taking on too “big” of a mortgage to begin with. This need to be blamed on the educational method of our nation. In basic schooling from K-12, where has the simple method of utilizing funds correctly, saving, investing, or the energy of leveraging revenue have been taught? Unless a person was an offspring of a loved ones who is properly off and financially educated; the majority of the men and women have been taught the best way to go to school, get an education in a field they are looking to invest far more than half their life working in, to go out and get a very good paying job, to operate their way to the top, and to invest their cash. The basics of dollars taught in school is the way to count income and the way to spend it.

Then immediately following the inadequate education, credit card corporations being predators, prey on the folks along with the innocent youngsters who are just out of high school and entering college to persuade and manipulate them to make use of their credit cards, although the large corporations smother all of us everyday with advertisements about new and better items and services. The majority of the population has been basically brainwashed and trained to function and invest their dollars. Why do you consider the majority of the middle working class does not even have a savings account, retirement program, or even health insurance.

They’ve been educated in their field of operate, and at the least they have enough sense to seek the suggestions and help of an expert when needed. I bet Henry Paulson doesn’t know crap about how you can develop a property, but I’m sure he has sufficient typical sense deep in that pig head of his to seek the aid of a skilled to build the property for him. Do you really consider he would go and educate himself on the way to create a property so he can over see it or do you consider he would put his trust in who he has hired?

Most middle class families put their trust into experts who put together these mortgages. These very same experts who these households trust, basically push the individuals into the mortgage knowing that their back is basically against the wall and understanding that eventually they could possibly face foreclosure. These professionals inform them that this is the most beneficial deal, its the most beneficial issue they could do in a circumstance like this, and make them false promises such as “If you keep up on your payments for the subsequent year, we can refinance your mortgage having a lower percentage rate, and we will not charge you any closing fees.”

Now ask oneself, why do most men and women refinance their homes ? It is probably not for investment purposes. Probably they are in debt and looking to consolidate their bills into a single payment, lower their monthly payment and purchase them just a little additional time. Wouldn’t you consider it really should be the responsibility of the professional, who’s aid they have sought out to assist them inside the initial place, to figure out if the loan is too big ? It need to, but the so called experts are much more concerned about the dollars going into their pockets by means of commissions.

So yes, Henry Paulson there’s many things policy makers could do. Educate the folks, make it mandatory in elementary schools to teach the correct use of dollars. When you can make history a mandatory subject then why couldn’t you make finance a mandatory subject. Why, due to the fact the majority of the “working class people” wouldn’t invest so a lot funds,wouldn’t lose so substantially to taxes, and line your filthy pocket with extra income. Open your mind and realize the majority of the American working class individuals weren’t born with a silver spoon in their ass, where mommy and daddy could teach them correctly and give them the opportunity to go to the “all ivy schools”

“We’ve got some substantial troubles today, in the short-term, but I don’t go to any country that you will find not many far more problems than we have inside the U.S.,” he mentioned. “So as I take a look at it, the U.S. workers compare quite favorably everywhere else in terms of productivity.” Nonetheless, Paulson cited a need to bolster training and education of the U.S. workforce.

He also insisted that the United States has a strong dollar policy.

“The long-term strength [of the U.S. economy] is going to be reflected within the value of our currency,” he said. “Our policy has got to be a policy that’s going to increase confidence in the U.S. economic system. At this time we’re in a difficult patch.”

Do not you imply by “educate the workforce”, you imply blow extra smoke up the working American middle class’s ass so they don’t lose faith within the dollar which remarkably is only backed by the faith of the individuals to begin with ?

When the economy starts to decline, the public is told, “to save the economic system get available and invest your money”. Obviously that is going to create the economic system seem greater, mainly because cash is being circulated, a lot more taxes are becoming collected, public companies’ quarterly incomes are growing, investors are generating greater profits, and though the rich get richer, the working and financially uneducated Americans are acquiring back into debt. Then the entire method starts all over again.

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