Comments for Saving The Economy - We Need Much Better Focus at http://www.10minuteinvesting.com , comment 1 to 3 out of 3 comments http://www.10minuteinvesting.com Tue, 07 Feb 2012 14:57:03 +0100 FeedCreator 1.7.2 http://www.10minuteinvesting.com/wealth-mindset/saving-the-economy-we-need-much-better-focus-2.html#comment-5 I believe that what goes up must come down. And, we are in the down part of that cycle. Being a glass half full kind of person, I believe that everyone needed a wake up call. Things got very out of control for all of the reasons you hear -- greed, entitlement, need for power... The market’s demand for sustainable high returns, individual’s desire to live beyond their means, people’s refusal to act responsibly both as corporate and private citizens are all trends that need some correction. By the way, these faults do not just exist in the private sector; there is plenty of “blame” to share with the public sector too! Hopefully, we will emerge from this crisis stronger, more empowered, and better off as human beings. I don’t think that this is a simple problem with a simple solution. Unfortunately, I don’t think that an instantaneous fix will create a lasting solution. This crisis provides us with an opportunity to hit the reset button and set appropriate expectations around wealth creation, success, and basic values. More unfortunate, Porkulous (as some have come to describe the stimulus bill) is not the answer. The right kind of regulation, not over regulation. The right kind of market demand – investor expectations. The right kind of individual morals and values. These are the answers. I am sure that there are many paths to achieve these goals; but, these need to be our goals which I am afraid they are not, yet. - Anne Simmons Mon, 09 Feb 2009 12:16:12 +0100 http://www.10minuteinvesting.com/wealth-mindset/saving-the-economy-we-need-much-better-focus-2.html#comment-4 I agree with your pointing out the ugly side of human nature taking over much of our banking system. These flaws will outlast any of us individuals as they are an inherent part of human nature... We need to provide better safeguards, education to individuals and incentives for people to return first and foremost to "doing well by doing good". Your book recommendation is excellent. Thanks for contributing. - Nalini Indorf Kaplan Mon, 09 Feb 2009 11:30:37 +0100 http://www.10minuteinvesting.com/wealth-mindset/saving-the-economy-we-need-much-better-focus-2.html#comment-3 I agree that trust must be restored. Do you think that there was simply too much credit extended? Credit is important, but more important is to look at the psychological flaws. Greed, entitlement, ignoring history. "Extraordinary Popular Delusions" should be a required text. - Joe Mon, 09 Feb 2009 10:59:47 +0100