How and Why Athletes Go Broke (2009)
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Re: How and Why Athletes Go Broke (2009)
#2This sounds a lot like how most people go broke. Even when you are talking about people who have been fortunate enough to make a lot of money (like lotto winners), the story sounds the similar.
Maybe we need better financial education in the public school system?
Re: How and Why Athletes Go Broke (2009)
#3This article is from 2009.
Re: How and Why Athletes Go Broke (2009)
#4This article is from 2009.
Thanks, we've updated the headline.
Re: How and Why Athletes Go Broke (2009)
#5Pretty much the plot of the HBO series "Ballers". It's not the most intellectual show, but it does tie together the fallacy of "Balling", essentially how trying to maintain an outward perspective of wealth and excess usually leads to a quick demise of said wealth...
Re: How and Why Athletes Go Broke (2009)
#6This sounds a lot like how most people go broke. Even when you are talking about people who have been fortunate enough to make a lot of money (like lotto winners), the story sounds the similar. Maybe we need better financial education in the public school system?
I have an unsupported conjecture that critical thinking skills and financial literacy aren’t taught in (US) schools more or less intentionally. Financial literacy would harm the business models of institutions offering many types of loans, mortgages, lines of credit, etc. Truly educated consumers are harder to fleece.
Critical thinking dovetails with that, and would probably make it harder for ideological, religious, and political figures to “win hearts and minds.” In my experience parents want their kids to believe whatever they believe, politicians want vacuous morons, and ideologues only want to propagate their ideology. Giving people general tools to sort through the mess of competing ideas seems to appeal less than using the opportunity of education as a means of inculcation.
In short most people and groups want their own version of reality instilled as early as possible, and no others. A relative minority want critical thinking, financial literacy, and sound scientific principles instilled. It’s harder to take advantage of the prepared mind after all, and so much profit and power is gained through shallow blandishments and lies.
Re: How and Why Athletes Go Broke (2009)
#7Pretty much the plot of the HBO series "Ballers". It's not the most intellectual show, but it does tie together the fallacy of "Balling", essentially how trying to maintain an outward perspective of wealth and excess usually leads to a quick demise of said wealth...
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Re: How and Why Athletes Go Broke (2009)
#8This sounds a lot like how most people go broke. Even when you are talking about people who have been fortunate enough to make a lot of money (like lotto winners), the story sounds the similar. Maybe we need better financial education in the public school system?
I have an unsupported conjecture that critical thinking skills and financial literacy aren’t taught in (US) schools more or less intentionally. Financial literacy would harm the business models of institutions offering many types of loans, mortgages, lines of credit, etc. Truly educated consumers are harder to fleece. Critical thinking dovetails with that, and would probably make it harder for ideological, religious,…
The biggest difficulty with that theory is that when people loose money to loan sharks they stop buying other things. So as far as either the national economy or the sum of all lobbyists (whichever you think the government is most beholden to) are concerned it's not good on average when people loose everything.
Re: How and Why Athletes Go Broke (2009)
#9This sounds a lot like how most people go broke. Even when you are talking about people who have been fortunate enough to make a lot of money (like lotto winners), the story sounds the similar. Maybe we need better financial education in the public school system?
I have an unsupported conjecture that critical thinking skills and financial literacy aren’t taught in (US) schools more or less intentionally. Financial literacy would harm the business models of institutions offering many types of loans, mortgages, lines of credit, etc. Truly educated consumers are harder to fleece. Critical thinking dovetails with that, and would probably make it harder for ideological, religious,…
1. There is a national (or international) cabal of executives and power brokers at major institutions of banking and finance that have infiltrated the federal and state Departments of Education, local school boards, curriculum writing organizations, and more in order to subtly dumb down the American populace with the goal that they will be able to make money off these idiots decades later to the tune of a car loan and a mortgage.
2. Financial literacy doesn't appear on any standardized test.
I think there's a saying about horses and zebras that applies.
Re: How and Why Athletes Go Broke (2009)
#10This sounds a lot like how most people go broke. Even when you are talking about people who have been fortunate enough to make a lot of money (like lotto winners), the story sounds the similar. Maybe we need better financial education in the public school system?
I have an unsupported conjecture that critical thinking skills and financial literacy aren’t taught in (US) schools more or less intentionally. Financial literacy would harm the business models of institutions offering many types of loans, mortgages, lines of credit, etc. Truly educated consumers are harder to fleece. Critical thinking dovetails with that, and would probably make it harder for ideological, religious,…
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