The next financial crisis doesn't involve a housing bubble
Carolyn Kaster, Associated Press
Are we headed for another financial crisis? CNN Money’s Jack Markell seems to think so. But it’s not the kind of financial crisis we saw in 2008; Markell thinks this one will hit a little closer to home.
The next financial crisis, Markell argues, will come from a widespread lack of understanding personal finance.
“Helping people understand their finances is absolutely essential in today's economy,” Markell wrote on Friday, adding that American schools have “not done nearly enough to give Americans control over their financial destinies.”
“To be sure, knowing how to put together a personal budget or how a credit score works won't raise a person's income,” he continued, “but it can make a paycheck go further and show families how to avoid decisions that cause long-term harm. While some of today's financial stressors will persist until the economy improves, a better grasp of the financial basics can make a huge difference to millions right now.”
- Steve Eaton: eBay exile is small price to pay...
- More Americans spending at least half their...
- How to fight the prom price war
- Michelle Singletary: Stop picking on the poor
- Dave Ramsey says: Personal finance is all...
- Crowdfunding: Where social media meets...
- Joseph Cramer, M.D.: A different view of the...
- $100 million for a home? Luxury buyers reach...
- More Americans spending at least half... 13
- Joseph Cramer, M.D.: A different view... 7
- $100 million for a home? Luxury buyers... 5
- Steve Eaton: eBay exile is small price... 3
- How to fight the prom price war 3
- We finally understand what robots mean... 2
- Exxon's 1Q profit falls 46 percent amid... 1
- Rural hospitals struggle to stay open,... 1