The Inside Job

Over spring break I looked at the documentary “Inside Job” which gave a detailed look at what led to the 2008 economical crisis. It proved that in theory, capitalism works and that regardless how good a system is, once the human variable is added there needs to be regulation. (Every school in this country should watch this and someone should send a copy to president Obama) Many economists and businesses argue for less regulations and more freedom, but they have proved that they are unworthy of such freedom. In fact Wall Street is fighting tooth and nail to prevent some of the necessary measures required to protect the economy from another crisis like the one we are still struggling with. The frailty of human nature, its corruptibility, and the darkness that lies within us all, makes regulations on businesses imperative.  I personally think that those people should be hanged, they committed crimes that affected lives worldwide and escaped unscathed. Ok so maybe we cannot hang them but at least the money that they made scamming people should be used to clean up their mess.

What do you think?

In Response to Douglas Sack

Do you think marketers are to blame? Are American consumers to blame? Or is it the affluent?

I believe that many people shoulder the blame, but not the affluent. So what if they have money and flaunt it, they aren’t holding a gun to anyone’s head forcing them to mimic their lifestyle. In my opinion, if you are stupid enough to go into debt trying to emulate people that make way more money than you deserve what you get.

On the other hand, the American consumer shoulders most of the blame. As an adult you are responsible for your actions, too many times people are not willing to take responsibility for their action. This also is becoming the American way, where people are always looking for someone else to blame. I was brought up to never be envious of what other people have (#1. You don’t know what they did to get what they have #2. You may not want to do the same) and to live within my means. Americans have become so materialist and fake that they have forgotten that money and things cannot buy love or happiness. People need to start getting to know themselves and to start loving themselves. They also need to stop defining themselves by what they have; material things are what you have and should not be who you are. We are social creatures but any friends gained through what you have aren’t true friends and will disappear as soon as there is any sign of financial trouble. Word to the wise, if your friends are like that you are better off without them.

Some marketers carry some of the blame because some of their messages are deceiving. They pretend that this is the way that the average American lives which is not the truth. But then again you are the one paying the ultimate price so you need to be on top of your game. Don’t get me wrong I understand the lure of nice things and the joy of a new purchase, but that happiness is flitting. I also understand the need to fit in but my question is at what cost and is it really worth it? What’s the use of fake friends, grueling hours and you’re not even happy. Do you think it’s worth it?