Comments on: The Root Of Our Financial Crisis: Education! http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/ This is where your finance takes place Thu, 18 Mar 2010 17:20:27 +0000 http://wordpress.org/?v=2.9 hourly 1 By: The Financial Blogger http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-4997 The Financial Blogger Thu, 26 Feb 2009 00:13:07 +0000 http://www.thefinancialblogger.com/?p=899#comment-4997 Paul, Someone with $1 2000 years ago would have been so rich, it would probably be a pharaon ;-) Paul,

Someone with $1 2000 years ago would have been so rich, it would probably be a pharaon ;-)

]]> By: Paul http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-4981 Paul Wed, 25 Feb 2009 11:45:16 +0000 http://www.thefinancialblogger.com/?p=899#comment-4981 Some say that this initially credit crisis turned into a deep and world wide economic crisis will change the very fundamentals of our economies. Here is an idea to think about. If someone had deposited one dollar into a bank account 2000 years ago for a 2 per cent interest rate only, that deposit would be worth 1,5 raised to the 17th power (an incomprehensibly high amount of money) today. All this means that the idea of interest, the price or cost of money, is in itself nonsensical, or at least unsustainable in the long run. Why do we expect an economy based on an unsustainable principle to function??? The very best explanation of the crisis I have seen is this one: http://whyhypeblog.blogspot.com/2009/02/crisis-of-credit-visualized.html Some say that this initially credit crisis turned into a deep and world wide economic crisis will change the very fundamentals of our economies.

Here is an idea to think about. If someone had deposited one dollar into a bank account 2000 years ago for a 2 per cent interest rate only, that deposit would be worth 1,5 raised to the 17th power (an incomprehensibly high amount of money) today. All this means that the idea of interest, the price or cost of money, is in itself nonsensical, or at least unsustainable in the long run. Why do we expect an economy based on an unsustainable principle to function???

The very best explanation of the crisis I have seen is this one: http://whyhypeblog.blogspot.com/2009/02/crisis-of-credit-visualized.html

]]> By: Obama Wins, The Carnival of Personal Finance Heads Over Here! http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3791 Obama Wins, The Carnival of Personal Finance Heads Over Here! Wed, 05 Nov 2008 23:07:10 +0000 http://www.thefinancialblogger.com/?p=899#comment-3791 [...] The Financial Blogger: The Root of Our Financial Crisis: Education! [...] [...] The Financial Blogger: The Root of Our Financial Crisis: Education! [...]

]]> By: Carnival of Personal Finance No. 177 http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3770 Carnival of Personal Finance No. 177 Mon, 03 Nov 2008 14:01:50 +0000 http://www.thefinancialblogger.com/?p=899#comment-3770 [...] Financial Blogger from The Financial Blogger thinks he knows The Root Of Our Financial Crisis Education. Is it financial [...] [...] Financial Blogger from The Financial Blogger thinks he knows The Root Of Our Financial Crisis Education. Is it financial [...]

]]> By: Ryan G http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3766 Ryan G Sun, 02 Nov 2008 10:57:24 +0000 http://www.thefinancialblogger.com/?p=899#comment-3766 Here in the UK, there is a new initiative to teach children the facts about finance and economy at an early age. This can only be described as a positive move, however we are yet to see if this will be fully implemented. In addition, I feel that parents who have a good understanding have a moral duty to teach their children the facts too. However not all parents have the know-how to do this, so there needs to be a serious emphasis on financial education at schools. Here in the UK, there is a new initiative to teach children the facts about finance and economy at an early age. This can only be described as a positive move, however we are yet to see if this will be fully implemented.

In addition, I feel that parents who have a good understanding have a moral duty to teach their children the facts too. However not all parents have the know-how to do this, so there needs to be a serious emphasis on financial education at schools.

]]> By: Leroy http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3762 Leroy Sun, 02 Nov 2008 04:22:18 +0000 http://www.thefinancialblogger.com/?p=899#comment-3762 Good perspective. In Singapore, we are facing some turbulences too, due to lack of financial education and the "investors" were taking on investment risks that they do not understand. A series of law suits ensue. The emphasis on financial education at young age cannot be over emphasis. Cheers! Leroy Good perspective. In Singapore, we are facing some turbulences too, due to lack of financial education and the “investors” were taking on investment risks that they do not understand. A series of law suits ensue.

The emphasis on financial education at young age cannot be over emphasis.

Cheers!
Leroy

]]> By: Richard http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3750 Richard Fri, 31 Oct 2008 16:54:11 +0000 http://www.thefinancialblogger.com/?p=899#comment-3750 It just proves that a financial education does not allow for good decisions. The RIGHT financial education will. They are usually taught traditional methods such as squeeze a turnip to make blood and the taxpayers always have more money they can steel. It just proves that a financial education does not allow for good decisions. The RIGHT financial education will. They are usually taught traditional methods such as squeeze a turnip to make blood and the taxpayers always have more money they can steel.

]]> By: Curt http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3749 Curt Fri, 31 Oct 2008 16:38:09 +0000 http://www.thefinancialblogger.com/?p=899#comment-3749 The lack of financial education is definately a major factor in consumer debt, but national debt is another story. The government economist have plenty of financial education, yet they have spend the nation into bankruptcy. The lack of financial education is definately a major factor in consumer debt, but national debt is another story. The government economist have plenty of financial education, yet they have spend the nation into bankruptcy.

]]> By: Kalinda http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3747 Kalinda Fri, 31 Oct 2008 15:53:50 +0000 http://www.thefinancialblogger.com/?p=899#comment-3747 Awesome post. I couldn't agree more. My own financial education was completely lacking. Luckily I married someone who does understand finances, and I've learned a lot since we've been together. Marry someone who knows about finances doesn't seem like the best solution for the general population though. ;) Awesome post. I couldn’t agree more. My own financial education was completely lacking. Luckily I married someone who does understand finances, and I’ve learned a lot since we’ve been together. Marry someone who knows about finances doesn’t seem like the best solution for the general population though. ;)

]]> By: Hazy http://www.thefinancialblogger.com/the-root-of-our-financial-crisis-education/comment-page-1/#comment-3744 Hazy Fri, 31 Oct 2008 05:43:19 +0000 http://www.thefinancialblogger.com/?p=899#comment-3744 I saw a news segment a while back about kids going to something called finance camp. So a least someone is doing something along these lines. But I agree,this should be taught in the public schools. I saw a news segment a while back about kids going to something called finance camp.
So a least someone is doing something along these lines.
But I agree,this should be taught in the public schools.

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