I've been waiting for over thirty years
for someone to write this book.
It's not the full story, but it's an important
beginning. Essential viewing.
The financial "services" industry is
not your friend.
From our friends at Real Econ TV.
Video:
http://www.realecontv.com/page/24719.html
- Brasscheck
“Financial Industry” Flim Flam
Book: “Pound Foolish”
Pound Foolish:
Exposing the Dark Side of the Personal Finance Industry
For
the past several decades, the personal finance industry has convinced
Americans that we are the sole masters of our financial fates. Even as
stagnating wages and rising costs of necessities have eaten away at many
families' bottom line, voices within the industry chant that enough
grit, the right advice, and the latest tools will cure what ails their
financial lives. In Pound Foolish, journalist and former financial
columnist Helaine Olen argues that, instead of an elixir, the American
people have been sold a bill of goods.
Olen critiques the
personal finance industrial complex and makes the case that our systems
and structures for achieving financial security are broken or badly
damaged, and that profiteers have exploited the desire to for personal
financial control and turned it into a profit center for their own
benefit.
The New America Foundation's Asset Building Program held
this conversation with the author as she shares her story of America's
love affair with personal finance and the challenges we all face in
dealing with and talking about money.
PARTICIPANTS
Helaine Olen
Author, Pound Foolish: Exposing the Dark Side of the Personal Finance Industry
Blogger, "Where Life Meets Money," Forbes.com
Justin King
Federal Policy Liaison, Asset Building Program, New America Foundation
Exposing the Dark Side of the Personal Finance Industry
This is a book I’ve been waiting for for at least the last thirty years.
Thank goodness someone - in this case Helaine Olen - wrote it.
There’s a lot more to be said, but this book is a very important start.
The idea that the average person can “invest” their way into a healthy retirement is and always has been a sick joke.
When you invest, you’re competing with Wall Street. Even people who spend their entire lives, 50 to 70 hours a week full time, working on Wall Street have trouble developing profitable portfolios.
What chance does an uninformed amateur who who barely pays attention to the markets and doesn’t really understand what’s going on have?
The financial services industry exists to skin you and every word that comes out of its mouth should be treated with maximum skepticism.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/sp_en_8.gif)
Proudly presenting The Honorable William O'Brien
Former Speaker of the House of Representatives,State of New HampshireWilliam L. O’Brien served as Speaker of the House of Representatives of New Hampshire from 2010 to 2012. Leading the fourth-largest English-speaking legislative body in the world, O’Brien waged battles that few in positions of leadership are willing to do. He presided over the passage of a budget 11 percent smaller than the prior budget, reducing overall spending by more than $1.2 billion. In addition, the House with O’Brien at the helm passed a state budget that included no new or increased taxes or fees, reversed the past two terms budgets’ accounting gimmicks, and used responsible revenue estimates.O’Brien’s stewardship of the House also resulted in the state returning $1 million in ObamaCare funds to Washington with instructions to use the money for debt reduction, and the passage of a bill blocking New Hampshire from implementing ObamaCare exchanges.As Speaker, O’Brien ushered in reforms to help the economy grow unfettered by burdensome government interference. During his speakership the House helped job creators by cutting taxes, fees, and surcharges, by creating tax credits and exemptions, and by relaxing unnecessary or duplicative compliance and reporting requirements.O’Brien also repealed the state’s “card check” law, and passed a law to eliminate the “evergreen” requirement that all communities continue public employee contracts after they expired. Additionally, he answered the demand for greater government transparency and accountability by passing legislation to make public records, such as the state checkbook, easily obtainable by posting them on state websites.O'Brien obtained his Juris Doctorate degree from Suffolk University Law School and later received a Masters of Intellectual Property law degree from the University of New Hampshire School of Law. He resides in Mount Vernon, New Hampshire with his wife of 40 years.
