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02/07/2010

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GK Scott

I think subsidizing consumer decisions results in greater and greater subsidies, which sink the economy. The underlying problem is lack of transparency, encouraged by the worst culprit, the law, which ensures that system errors are assigned to individuals, so the system is never corrected, and losses are assigned to the taxpayer.

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This sounds like the arguments used against the creation of the Food & Drug Administraion and other consumer protection groups like the Dep't. of Agriculture. "Why do we need an Agency that regulates Food and Drugs? Can't people determine for themselves when food is rotten or contaminted and drugs like Laudanum or Dr. John's Miracle Medical Elixr are worthless or downright dangerous?"

As for regulating and controlling the Financial and Commercial Industries in the interest of the Public Welfare; the Creators of those toxic Finacial Instruments and other obtuse, exotic, and downright bizarre Financial instruments
which have been the bane of the American and World Economy as of late; the creators, even have no idea of what they are, how they work (if they work at all) and their impact on the Public Welfare. And you want the general public to fend for themselves? Talk about legitimizing "pigs in a poke", "shell games", "ponzi schemes" and other bizzare business practices as the Hallmark of World Economic Order and Enterprise.

No wonder we have economic problems we can't seem to get straightened out.

Max Furniture

This scenario disputes the Posner-Becker “state of the world” which implies there was only one rational thing for everyone to do, and into this state of the world we put the homeowners. They are also heterogeneous. The “flippers” for example are another type of investor, some made money and other did not, some hedged and some did not. A CFPA is not for them.

GK Scott

If an obesity solution is to be developed, the solution must solve both prongs of the problem, Caloric intake and Caloric expenditure. Driving food costs up will drive down consumption. The other solution that must be incorporated is the increase of Caloric Expenditure and that can only be achieved by a dramatic increase in physical activity. In other words, get the kids out of in front of the TV, Videos, Computers, Game boys and other sedentary activites and outside where they can walk, run, jump, swim, bicycle and participate in any and all types of physical activity.

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I think the American health-care expenditure example is analogous. We drive our bodies more recklessly on average, of which our obesity rate is a symptom, and a lot of our "extra" spending may be what it medically cost to preserve the longevity of people with unhealthy lifestyles.

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Life can be extremely unfair in the short term, but it is extremely fair over the long term, because life is a distribution of unpredictable events. Don’t get hung up on the extremes. Set yourself up to be patient; that is the key to investing, at every level.

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Once the bubble burst, the number of first-time aspiring home-flippers in high-default states like FL and CA plummeted, which reduced the pool of prospective homebuyers lacking the necessary competence.

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It will be easier to enforce good habits than to tax bad ones. We need to be proactive and stop children from getting fat in the first place. Mandatory physical exercise should extend through all four years of high school. However, I prefer a solution that puts the burden on the individuals to improve themselves, rather than a more paternalistic option.

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You gave great points here. I did some research on the subject and have found nearly all people agree with your blog.

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since a plethora of deadly and debilitating diseases are transmitted by them as well. Unlike genetic and environmental illnesses, they can be easily avoided by an educated public.

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But that statement contains a logical error because "longevity" is not the proper measure of what one gets out of health-care spending. "Maintenance costs" are a more apt analogy. Imagine two individuals who buy identical automobiles. One drives sensibly and conducts routine oil changes, while the other drives recklessly, and perform no regular care on the vehicle, crashes often, and occasionally has to spend significant amounts in repairs.

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den


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Nothing is more non-sensical than those. Indeed, sex (kissing) and owning pets like cats and dogs would be proper subjects of advisories as well, since a plethora of deadly and debilitating diseases are transmitted by them as well. Unlike genetic and environmental illnesses, they can be easily avoided by an educated public.

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Yes, the entire blow-up debts are caused by the borrowers who are very irresponsible in their act. They purchase things through credit card and become very reluctant when it comes to payments. They always point the blame to the loan companies and then whine about the interest where in the first place they agreed upon the terms before having that card in their wallet. They always don't want to take responsible to their act and leave everything to the government that they keep on bringing down. The government is doing its part for the people. But are these people doing the same?

Mitchel

Thanks for the info!

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I guess what I loved most about it was the common sense, no nonsense way leadership is viewed. Simple statements (not simplisitic) such as "We will work harder and more effectively for people we like. And we will like them in direct proportion to how they make us feel." As they point out we don't need to read mountains of studies on emotional intelligence to understand the truth of these words.

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These questions are acutely raised by the proposal, now before Congress, to create a Consumer Financial Protection Agency that would protect consumers of financial products such as mortgages and credit cards and payday loans not only from misrepresentations by sellers of these products, but also from their own ignorance or poor judgment. The proposal draws on behavioral economics, which teaches that cognitive and psychological limitations frequently lead consumers to make mistakes, even when there is no fraud by sellers.

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Very true. Those men, as well as some icons who have already left, were symbols of a world in which we grew up and felt safer more powerful and capable of success simply by following the rules of decency and good. It did work for a while, even if it might have been an illusion. ?R

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Thanks for the tips, Scott. Beyond spelling and grammar I spend most of my arts/lit blog time checking info and tracking down links -- and hope that even then I don't mangle them.

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Well deserved EP! This was a fascinating post. I used to hook rugs and remember how much fun it was.

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Wonderful piece! I've definitely had moments of fear of taking both my kids places when I thought they could run off.

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