[OT]America. The land of the not-so-free (economy)

Randy Edwards redwards at golgotha.net
Sun Jan 9 13:18:00 EST 2005


On Sunday 09 January 2005 01:42, Derek Martin wrote:
 > In principle, I agree with you -- people should make their own choices, and

   I agree with you here...

 > live with the consequences of them.  In practice, the world doesn't work
 > that way anymore.

   ...but I think it's worth pointing out another factor.  Remember, there's 
going to be a lot of very smart people which will be working to separate that 
retirement money from the people who are supposed to be retiring on it.

   We only have to look at the credit card industry for an example.  If you 
ask people about credit card use, they'll typically give fairly logical 
answers.  Yet the actual practice is much different -- millions of Americans 
are up to their neck in credit card debt.

   The credit card industry *specializes* in gimmicks to keep people in debt.  
(FWIW, PBS has a *great* Frontline documentary on the topic which you can 
watch online at 
<http://www.pbs.org/wgbh/pages/frontline/shows/credit/etc/synopsis.html>.)

   Do we really think that such professionals won't evolve to bilk people out 
of their retirement money?

   We can blame the victims for not having an iron will or PhDs in marketing, 
psychology and finance, but given the reality of people's lives and our 
country's consumerist ideology, that just isn't realistic.  We should expect 
that many will fall victim to financial trickery.

   And with that said, that will be my last words on this thread (hold your 
applause, please:-).

 Regards,
 .
 Randy

-- 
If you always do what you've always done you'll always get what you've always 
got.



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