The problem with the whole ' the consumer is too stupid' argument is that when this same situation happens to a company - The situation where they are heading into an unctrollable tailspin of debt and suffering based on changes in the economy - These companies in the past have literally sued government for changing. Or they are given billion dollar bailout money.

So if a corporation gets billions of dollarrs in handouts becuase they cannot adapt to changing times while living the same routines..... Why don't the people?


https://www.thestar.com/news/gta/2018/11/02/toronto-taxi-owners-sue-city-for-17-billion-over-arrival-of-uber-lost-plate-value.html

https://www.cnn.com/2019/03/06/tech/huawei-suing-united-states/index.html



We are humans and we are habitual creatures. The day that a new PHD is able to tangibly prove that Humans can't just change habits immediately and need time to do so, there will be lawsuits piling up for these companies that are expecting people to change immediately or change at all.

This post was edited by IroningTheMaiden on Nov 12 2019 03:58pm

I don't really understand your criticism. Nobody is saying that consumers aren't responsible for their own personal finances.

What I am saying is that these types of situations like explained by OP happen all the time. If we blame the people themselves, well then why do we have situations where companies do the same and they get billions of dollars cimply because of their own ineptitude?

You can call the people incredibly stupid, sure. But when a company does it they get billions of dollars.

We the people wouldn't be able to sue the government for inflation and acts of god and changing times where things cost more, or the law changes, but companies get billions of dollars all the time for it. So where do we draw the line? If its so stupid then why am I encouraged to do so based on the billions of dolalrs companies are making off it. Think 2008 Bailouts for example.


It isn't we as citizens fault that we are a product of the systems. Regardless of the results of this, punishing the people or blaming individual people is not the way to go. It is the companies that are constantly running the algorithms to find out how they can make the most money. It is the companies that are imposing these debts. Not me. It is be the companies responsibility. Not mine.

This post was edited by IroningTheMaiden on Nov 12 2019 04:13pm

Cimply

Personally i see it less as an issue of people being stupid and more a lack of financial literacy i say. Voter apathy is an issue and its particularly bad in the case of conservatives who've been trained to hate entities like the consumer financial protection bureau that came into existence to help them.

This post was edited by duffman316 on Nov 12 2019 09:15pm

Financial illiteracy on the part of the banks maybe. They're the ones making shit investments.

I will read up on the Bretton Woods system and likely have more questions. Thank you for your responses this far.