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Leno Exposes Our Financial Stupidity
Posted on October 19th, 2009 4 commentsHow much is flat-out ignorance to blame for our financial woes? Jay Leno’s popular “Jaywalking” segment usually provides some good laughs, but also shows us how clueless some of our fellow citizens are. In one such taping, Leno discovered a serious lack of financial common sense:
Of course, they don’t show the many people who answered the questions perfectly, and some of these respondents probably just froze up with the cameras rolling, but it’s still kind of scary.
I think Leno summed it up well at the beginning- “this is why we get in trouble, because we don’t know what we’re doing.” It’s probably safe to assume that a person who doesn’t even know what a CD is hasn’t spent a lot of time mapping out financial goals and a money management plan.
When the financial crisis began unfolding, I always wondered how people could be so foolish- racking up credit card debt, saving absolutely nothing, and getting suckered into mortgages that were almost certain to overwhelm them. Now it doesn’t baffle me as much.
In a bit of good news though, how bout this hare market recently? :D
3 responses to “Leno Exposes Our Financial Stupidity”
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Hey Blake, that was a great Leno piece! The lack of financial knowledge among people today is amazing…OR scary.
“I always wondered how people could be so foolish- racking up credit card debt, saving absolutely nothing, and getting suckered into mortgages that were almost certain to overwhelm them.” It’s because they spend like a hare and save like a turtle.
As far as the stock market…too much, too fast, I would be very cautious at this point…
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That Leno piece has GOT to be a put-on. A “rabbit and hare” market? Seriously? What’s the difference? One has bigger ‘ear’nings? (sorry about that…I can’t resist a bad pun)
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shultice October 21st, 2009 at 03:19
“It’s because they spend like a hare and save like a turtle.” Haha, I think you’re right John.
Oleg- no worries; bad puns can be quite entertaining! :b
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John @ Family, Fitness and Finances October 21st, 2009 at 02:24