Americans and Personal Responsibility
August 6, 2011
While there is much to love about America, it is astonishing how Americans, more than any other culture that I know of, lack personal responsibility for their mistakes or problems. A classic example points to the statement “it is ‘x’ politicians fault that our economic condition is ‘y’.” No, it is the fault of too many people and the government (both the Dems. and the GOP) spending outside of their means and acting like a spoiled, entitled child with an unlimited credit card.
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but what of those bankers that told the average american it was within their means to buy that house they’ve always wanted, should the bankers have some sort of responsibility?
Should you trust everything the salesperson says and not think for yourself?
so, you’re saying it’s alright for financial institutions to be dishonest, because we should know better?
As far as lending practices go, people should know how much they can afford to spend. Financial companies were never dishonest about the cost of the loan to the customer. Yes, they approved people that should not have been approved, but they listed the cost and monthly payments up front. If people cannot figure out how much they can spend each month in comparison to their income, then they deserve to learn the hard way.
what of the credit ratings agencies who rated these banks and loans as fiscally sound, what responsibility do they have?
Just because a bank is “fiscally sound” does not mean that all consumers should buy their products.
what of the government that lets business interests do whatever they wish, despite the fact that they’re rapping the average american?
there needs to be regulations. just because businesses don’t use guns doesn’t mean they’re not robbing you.
At the end of the day, people who cannot make a simple calculation of how much money they make vs. the amount of expenses should not buy a house. Sure, corporate irresponsibility/greed is a small piece of the problem, but the real issue stems from irresponsible consumers.
i don’t know if you’ve read an Ricardo, but one thing he talks about is the manipulation of labor through property ownership. in other words, i’m not the first one to be saying these things.
I’ve read a lot criticisms of capitalism (e.g. Marx, Adorno, Habermas, Maria Meis, anarchist authors, and more), but still stand behind my comments here 100%.
we were brought up believing the american was is the ultimate lifestyle, I guess the current economic crisis facing America is a cautionary..
New stats indicate that foreclosure #’s are rising once again, significantly. I’m not one of those people you criticize, who purchased houses or items they could not afford. I could afford to buy my house and other things; I had no problem paying for them. However, life changes, challenges and layoffs disrupted my life. I have fought off foreclosure and being tossed out on the street for over two years now. There are many people like me in this country, who are in financial trouble due to any number of circumstances. People living beyond their means was a problem but how many more are in trouble due to no fault of there own? For someone who constantly encourages critical thinking and high knowledge of science, math, logic, philosophy, etc. – you sure spend a lot of time judging and criticizing other people. Why are you so condescending? I grew tired of it. Good luck to you.
DH
DH: I don’t mean to be condescending, but sometimes the facts hurt. I don’t claim to be perfect, but I think an honest look at the truth is the only way for people to make changes for the better.