Tuesday, April 24, 2007

Greed, ignorance and financial illiteracy hits America's wealthy and well-educated too

The following article in Bloomberg paints a pretty bleak picture as to the state of the U.S. housing market. Even a well-educated woman with a Master's Degree - smart, intelligent, hard-working can fall victim to financial illiteracy, greed and ignorance too.

If there can be one take away from this article, it might be never to sign anything, ANY-THING, without reading it, reviewing it, fully understanding it and ALSO accepting the consequences of it.

How has the United State of America regressed from a nation of industrious, rugged individualists into to a country of overgrown children - financially incompetent, greedy, self-centered individualists who, only after realizing the folly of their delusional decisions, look to the a parental federal government to take away other people's money, in order to lift them out of a financial deathpit of their own making?

Don't answer that question. I don't want to know the truth anymore...

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