Re: Economics & Racing Beyond Our Means
First of all I?d like to say I am enjoying this thread. There are many valuable comments and insights being presented.
Dick ? I can relate in many ways to what you are saying. One of our son?s is an engineer and he was required to take an economics course. It planted the seed early in his career and he has prospered in part because of it. This wasn?t the case when we were young. In high school we took basic economics and business. You know the drill, how to prepare a budget, write a business letter etc. I suppose it was better than nothing.
Jack ? I particularly like the idea of a mandatory economics class in high school.
When reduced down to it?s simplest form, ?education? is the key. If we are well informed, most people would be less likely to fall into traps such as the sub prime issue. I said ?most? people, but there are a hell of a lot of people who would ignore the warning signs and dive right in.
Denial & Ego
Most of us involved in this sport would like to win. I think that is a given. We also apply that emotion to business or our work. Most of us can keep winning and losing in perspective. However there are those to whom winning and their ?image? is everything. You know who they are. They will sell their soul in order to keep up appearances. There comes a day when you have to pay the piper. It baffles me how some seemingly intelligent people have allowed themselves to get to a point where they are one paycheck away from bankruptcy. This basic ARITHMATIC and they ?DO? teach that in school! Maybe these people are using the New Math?Denial is a powerful thing! Do they deserve a bail out? I think not.
Who was it that said, ?There?s no free lunch?.
Chuck
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