Financial illiterates of the world, unite!

[Skybird]

http://www.theatlantic.com/internati...-money/361851/

Stuff like this leaves me wondering whether letting people cast their votes in political elections really is a good idea.

[Sailor Steve]

I guess I'm out. I missed the third one. Then again, I've never had enough money to invest in anything, so I've never looked at stocks.

[Oberon]

Got 2 and 3 right, although 3 was a guess...must admit I figured that there'd be less in the account with A, I forgot to take into account the year end interest payout would then multiply in the next years interest. Rookie error.

[Betonov]

First one right, it's basic math. Second right because I just used simple logic and not really knowledge. Third obe right just because I believe one shouldnt keep ones eggs in a simple basket.
So I really got one one right due to figuring out the answer. Other two were nothing more than guesses.

Explains why I'm poor despite having a bigger hourly wage than the local mayor X(

[Jimbuna]

Well, according to the answers I gave, I belong to a surprisingly small global minority

[STEED]

Originally Posted by Jimbuna

Well, according to the answers I gave, I belong to a surprisingly small global minority

I knew it..jim is in the top 1% of the world's super rich.

All I know is this, I am poor and made so many cut backs I am getting poorer.

[u crank]

This kind of stuff should be taught in Jr. High. Maybe it was , I forget.

Originally Posted by Skybird

Stuff like this leaves me wondering whether letting people cast their votes in political elections really is a good idea.

Are you suggesting that voters should know stuff? You don't know much about politics do you.

[Schroeder]

I'm a minority with all three correct...
I mean really guys, 1 and 2 aren't that hard even if you don't understand the whole math behind it and number three is logical too.

[Sailor Steve]

Originally Posted by Schroeder

I'm a minority with all three correct...
I mean really guys, 1 and 2 aren't that hard even if you don't understand the whole math behind it and number three is logical too.

Okay, fine, I WON'T vote then!!!

[Oberon]

Originally Posted by Sailor Steve

Okay, fine, I WON'T vote then!!!

Well done Schroeder, now we'll have President Trump.

[Schroeder]

Originally Posted by Oberon

Well done Schroeder, now we'll have President Trump.

Fun Terminated!

[Skybird]

Originally Posted by Schroeder

I'm a minority with all three correct...
I mean really guys, 1 and 2 aren't that hard even if you don't understand the whole math behind it and number three is logical too.

Empirical, not logical.

Market theories seek to sound logical, but reality is more complex and dynamically vibrant. If market reality were logical indeed, then nothing would speak against implementing planned economy. That planned economies always fail - what does this tell us about the logic in market reality? At least that market reality is harder to predict than logic would imply - and so it cnanot be logical.

So question three indeed is simply about knowing it, or not knowing it. But I would have assumed that with the media hype about stock reports and all the hyper-aspiration around it, this simple empirical finding by now has made the round and is common "knowledge", like the basic multiplication table.

I indeed think that instead of having anti-agression seminars at schools and courses in creative exprssisve dancing, their should be courses run on basic of economics and money theory. And the curriculae for these should not be set up by bankers, mainstream economics or political parties, all of which would have an interest in brainwashing the kids to believe in what has brought us into the money crisis and debts crisis and state crisis that we now are in. Economic education that is streamlined according to the wishes of the state's and banks' actors, necessarily just will grease and lubricate the highway into disaster.

And I was not joking. Money questions arise from almost all issues that voters usuallyvote on qhen they are called to generla elections, not specifically, but inherently. If people cannot even answer these most simple and profound questions correctly, what good can come from letting them vote? Any good there comes from it, only can be due to total random chance - or the goddess of fate intervening in our favour.

There is a reason why a pilot of a transatlantic flight does not negotiate with the passengers what stesp and proedures he will do next. Our political-economical problem today is that we mostly allow train drivers to fly our airliners.

Which may have something to do that we allow people to vote who cannot evewn fiogure out those three simple, basic, questions above.

I remind again that originally, democracy is a feudal form of government, and excludes most of the people from taking part: Greece, ancient era.

Now, the next American elections upcomign this autumn will teach us a lesson on the underlying problem I point at anyway - no matter the outcome. The constellation there is now - "either Clinton or Trump" - perfectly illustrates that something very profound runs dramatically wrong.

[Skybird]

Originally Posted by Schroeder

Fun Terminated!

Terminator had fun as well. He attended the Oktoberfest and was called to order by the police while criss crossing on his bicycle thorugh the hall of the Munich central train station. It ended like promi problems always end today: with a selfie.



There you have it: Fearsome German law and order. Where is a T-X or a T-1000 when you need one? At least a King Tiger or a Leopard-2?

[em2nought]

Originally Posted by Skybird

http://www.theatlantic.com/internati...-money/361851/

Stuff like this leaves me wondering whether letting people cast their votes in political elections really is a good idea.

The scary part is that even though there are people who can answer those questions, those same people lead us down a completely different path to ruin.