Financial Literacy study

In 2010 Annamaria Lusardi released a study on Financial Literacy.

www.dartmouth.edu...

annalusardi.blogspot.com...

Read the study here
c0182412.cdn1.cloudfiles.rackspacecloud.com...

Only about 35 percent knew what inflation or interest is. This is scary stuff, if people don't know even the simplest of concepts, how can they function in everyday life, or ensure that their children are prepared to run their own personal finances when they leave home? Financial Literacy ought to be a mandatory part of the school curriculum.

reply to post by aaa2500


They want you dumb so they can laugh at you all the way to their bank and give you a loan...

then when they skim off your earning the rest of your life they laugh at you all the way to their bank again when retirement comes.

people weren't taught this stuff because they weren't meant to be taught this stuff....it would be empowering.

just more evidence they don't want an educated "we the people"...

They want a dumb "whe duh Peeple"...

Originally posted by aaa2500
Only about 35 percent knew what inflation or interest is. This is scary stuff, if people don't know even the simplest of concepts, how can they function in everyday life, or ensure that their children are prepared to run their own personal finances when they leave home? Financial Literacy ought to be a mandatory part of the school curriculum.

35% is very sad.

Canada just started talking about setting up school classes, starting in elementary school for financial literacy. I think what started their thoughts on the matter is that no one can afford save, and we put too much on credit. If we knew more about it, we might get serious about savings accounts and investing while we're still young enough.

People would also know what they're getting into when they get credit. While Canada has done well through the global recession, our personal debt load is higher than its ever been.

I sure hope they follow through with their plans - there is supposed to be a task force set up to get it started soon.

reply to post by snowspirit


Actually if they properly taught a financial education course, banks wouldn't exist. People wouldn't participate in the nonsense, they wouldn't succumb to the obvious scam that is credit/debt/interest/banking and investments.

If they teach it in schools it will be a modified curriculum that promotes and supports banks/consumption. It won't explain in detail how the FED works, who owns it and why it gets to print free money. It won't explain how its board isn't elected by the people it prints money FOR.

It won't explain how the only money in existence, the money the FED orders to be print, is then given with interest to the government, which if it payed back would still be in the hole from the interest.

But that money doesn't exist because it wasn't printed. So they have to print the money to pay the interest off the previous money printed that was payed back,
(takes deep breath)
but wait they are in the hole still because the money they printed to pay the interest on the previously printed money to pay the interest on the previous previous printed money doesn't exist so they have to print it....

they wont teach this....

instead they will teach this:

Hey put your savings and retirement into an investment account that will gain interest over time. The best investment accounts show an ROI of about 2% so the more of your hard earned money you give to us to invest the more you get back!

So then everyone starts participating in a investments that allow these "mega-corps" to grow up around them and spill oil in their backyard, while fracking in their front yard....

really...its just best not to perpetuate this machine anymore lol....the school systems are part of it. The education will be biased and based on promoting this system because the education system is part of the problem.

There looking at screwing everyone any way,It's always just matter of time, for instance you have a group that have a huge market of savings RRSP's etc... basicly a healthy nest egg for retirement, as the maturity becomes avilable all the govenmnet has to do is change the rules on taxing, as the banking system is relient on that investment they don't want globe travellers where the money is being spent outside the country, The banking sysem wants to keep that money so in death the banking system keeps x amount say 60% for taxes, do they really need 60% no they only need that years taxes.They don't want parents giving there children that huge investment to re-invest as they would be able to retire as well, so you have 30-40 year olds retiring. not buying new cars bigger houses economy stimlus, and with -0 unemployment rates, than they have groups that have money and time to harrass the government and there policies.

It is good to hear people are finally starting to wake up and talk about this, thankfully some people are still around that know the difference between red and black. For those game enough to get into the murky and troubled waters of the global banking system www.bibliotecapleyades.net... . Yes things are a complex mess, the more we understand about it the better we can respond to it. We are in need of a lot of answers.

Sly1one, CIGGSofWAR, kwakakev,

the objective of this thread was Financial Literacy, not conspiracy theory on the monetary system or the federal reserve. You guys just couldn't let go of your favourite subject for just a few minutes, or perhaps just pass this thread by as you had nothing to add.

You didn't read the study, you didn't critically consider the subject... Nooo, you just had to contaminate this thread with your knee-jerk conspiracy hoopla.

reply to post by aaa2500


Fair point, but this is ATS. Anyway to help get people up to speed on the economy and money matter start with:
Supply and demand
Profit and Loss
Trade

With the basics down the common person needs:
Taxation
Interest
Saving
Credit
Basic Accounting

For the more advanced subjects start to look at:
The money cycle
Inflation
The stock market
GDP and other common economic indicators

Then you are ready to take on the other links posted here.