13 responses

  1. Jason Cabler (@DrCabler)
    January 27, 2012

    I think there is such an overload of info out there now, it’s so easy to let your opinions change on a dime without really thinking about why you changed your opinion.

    You have to first make sure the info you get is accurate because there is so much bad info out there, and then really consider things. People have more of a tendency to react than to think these days.

    • Money Reasons
      January 27, 2012

      Definitely! People are looking for a reason to crucify other people. I hate new shows that cast an even in a very incorrect and lacking facts light. There is usually a reason something happens, and unless you were there, who are we to judge…

  2. Christa
    January 27, 2012

    That’s sad that an educated man who lived through the recession closely connected to the mortgage/finance industry could change his tune so easily. There are so many factors that went into the financial downfall that if I had to pick only one, it would be greed. Greed from homebuyers, from corner lenders, from banks who took on the corner lender loans. Although fear plays a large part as well.

    • Money Reasons
      January 27, 2012

      It was the perfect storm. I was kind of surprised that I had to explain to him the CDO part of the downfall. This was the part that Warren Buffett warned the industry about, and only him as far as I know. Of course, I’m sure there were others…

  3. krantcents
    January 27, 2012

    I remember when I was a young child, my cousin would pick up every newspaper he could read. In New York (during the 50s), there were quite a few. As background, my cousin was a high school dropout (during the Great depression), but he was very smart and read everything. I think it is still true, we need a lot of resources to get the whole story.

    Polically, I am a fiscal conservative and a social moderate. I watch every news show and read every paper, magazine and online resource I can. The more I read, the more I have the resources to make a good decision. Unfortunately, too many people get their information from one resource and just accept it. We should question more and realize there is bias out there. This way you can be independent.

    • Money Reasons
      January 27, 2012

      I totally agree! I like to hear at least two opposing side of a story too. Usually the truth is somewhere in between. Luckily, over the years I’ve learn to read such stories and use common sense to derive what I consider the most probably reality.

  4. Bryan at Pinch that Penny!
    January 27, 2012

    While I guess I would be suspicious of a friend radically changing his mind, I think that there’s too much of an impetus in American society towards always having the same mindset as you’ve always had. I think that this is unfortunate, because it doesn’t allow for things like growth and development.

    • Money Reasons
      January 27, 2012

      Yeah, you have a good point. Sometimes my friend says thinks like that just to see what other people will say about an issue. It’s a definite negative about him. Still he persisted for quite a while. At least at some level, I think he is second guessing his original thoughts on the matter.

  5. Young and Thrifty
    January 28, 2012

    It is so easy for some folks to get caught up in what others print or film because for some reason they take whats shown as expert advice. Even as expert advice, those experts are still humans who have their own opinions that are influenced by “facts”. Bottom line, take everything with a grain of salt and ask question.

    • Money Reasons
      January 28, 2012

      Very true! I like to hear stuff, but in the end I go with what makes sense to me. Usually it’s a combinations of the stories presented to me, although sometimes some sources are obviously either flawed or lie too much…

  6. Shilpan
    January 28, 2012

    Very interesting article. Our society is highly brain washed by our media and celebrities. It is a sad state as the cult of celebrity and media has done more damage to average Joe’s life than those big banks.

    • Money Reasons
      February 2, 2012

      Totally agree, and most people will never realize it… That’s what is really sad… Being damaged and never realizing that it happened. I guess Jedi mind tricks really do exist…

  7. Invest It Wisely
    February 1, 2012

    I think a lot of it comes down to incentives. Yes, some of us just watch too much TV and don’t think independently, but let’s take a look at the financial crisis: Maybe you know that it can all blow up one day, but as an individual actor, why *wouldn’t* you take advantage of cheap loans and easy money?

    If we want to fix the system, we need to start by fixing the incentives, and that’s a bit hard with funny money. ;)

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