Today I have an article to pass on that I found in a somewhat recent copy of THE NEW YORKER dated May 18, 2009. This article by Nick Paumgarten that begins on page 40, I found to be an interesting read, and I think you will too. It is a bit long, but then again you can put it down and pick it up and finish it at your own speed. This is not a contest. This is a very well written article about much of the material that has been written about in MONEYTHOUGHTS over the last several months. ANNALS OF FINANCE - The Death of Kings - Stories from the end of a financial era is well worth your time. Sometimes it is good to read about an event or an era from another person's perspective and research, and this is that opportunity.
I find it interesting where I find good stories about the recent financial crisis. Perhaps if enough people read this stuff and educate themselves about the subject of fiat money, inflation, debt, monetary policy and the markets, then perhaps pressure will be put on our representatives in Congress to educate themselves as well. One point that most commentators can agree on is that our politicians need to get up to speed on their knowledge of finance. Whether this will ever happen, I can not say, but the lack of knowledge about the banking and securities industries in the halls of Congress is a serious problem for this country.
Stay tuned.
Posts
5 comments:
I'll be sure to read it. As for those in Congress .... ?
I've downloaded the article and am wading through it. Good stuff, Moneythoughts!
You're right. It's interesting to read the observations of significant players. I appreciate it that he observes how broad the spectrum involved, beginning with technological and ending with political, and including everything inbetween -- in essence: human nature.
Again, my sense is that we're asking for no less than a paradigm shift -- a critical mass that creates a shift in consciousness (and conscience, I might add!). I recall the "hundredth monkey" theory" and only wish it could somehow be applied to the current situation. Unfortunately, those monkeys were smarter than a lot of the people who are supposed to know better!
Again, thanks much for this educational opportunity.
Summer
Key point you make is educating yourself. We don't do that enough. This is not, thou it should be, taught in school. Mandatory economics. Simple stuff, something they can't get on their calculators or iphones. Cash registers all but put your change in your hand today. Need to get back to education but it needs to be re-thought of what is truely needed.
Making major changes in the education system would be a good start. How about making teaching a high paying profession, so some of the best men and women will be attracted to teaching and will be able to support their families in an upper middle class life style if they become a teacher?
Then teach economics and logic in all schools. Teaching logic would be an excellent idea and start the instruction in logic in grade school and continue it through high school.
What a great idea! Maybe courses on basic money management too
Post a Comment