The value of money
"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation." -- John Adams
So true. How many people vote for handouts because they don't have any idea about basic economics? How many high school students can balance a checkbook? How many can comprehend the effects and calculation of compounded interest - both for income and debt? How many understand the basic principles of supply and demand?
So true. How many people vote for handouts because they don't have any idea about basic economics? How many high school students can balance a checkbook? How many can comprehend the effects and calculation of compounded interest - both for income and debt? How many understand the basic principles of supply and demand?
So too local municipalities that spend all their operating budgets, then steal from their capital budgets and ask the voters for bonding to fill in on incompetent budgets and fiscal foolishness.
And don't get me started on the "SS Lock Box." A concept so blatantly false that any politician that speaks of same ought to be flogged. The excess funds that were collected in the past were spent long ago and nothing exists now but soon to be worthless IOU's. Who's going to pay back those IOU's? Our children. But to make the "pain" to the gov't less painful, they'll inflate the money, so that the real value of the IOU's will be next to nothing.
I have several advanced degrees, one in a branch of economics and I have trouble following what they are doing. To me it is a deliberate attempt to keep the public in the dark and "blissfully ignorant" of what they are dong. (I know, I repeat myself). This obfuscation really pisses me off.