John Hoffmire: The inexorable logic of financial literacy

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  • marxist Salt Lake City, UT
    May 19, 2014 6:08 p.m.

    All of which goes to show the tragedy in the decline of pensions. Pension funds have been raided for a variety of corporate reasons. It is unreasonable to expect working people class people to be investment experts when the variety of financial products is DESIGNED to deceive the consumer. 401K's are the biggest ripoff of people ever devised. People are so stretched economically due to stagnant wages that they are borrowing from their 401k's. These are supposed to be substitutes for pensions.

    There is no reason for the decline in pensions. This is a fabulously wealthy country, but the wealth is being stolen and raided from those of us who work 9-5.

    People have rights and they have limits. They will not stand for what is being shoved at them - no retirement - work 'til you die. Workers of the world unite!

  • gmlewis Houston, TX
    May 19, 2014 3:03 p.m.

    Financial literacy works pretty well with the middle class until extended unemployment and/or loss of health reduces them to a state of desperation. There are big holes in the welfare net, and we can't raise taxes sufficiently to meet these needs.

    Nothing is more natural and yet more disasterous than for a drowning person to cling to any support possible, thus drowning the rescuer with the victim.

  • John Charity Spring Back Home in Davis County, UT
    May 19, 2014 8:48 a.m.

    This piece has squarely hit the mark in its recognition that the future welfare of society depends upon its members recognizing and fulfilling their duties. This is true in all areas, including financial.

    Unfortunately, the current left leaning administration is subverting this obvious truth. Specifically, it has created a culture of entitlement in which the masses have no incentive to act responsibly. The masses feel that simply because they exist, the government is required to satisfy their every want and need.

    We must return to the principle that a man must work for his bread, and if he will not work, he will not eat. That is the way to instill a sense of financial responsibility.