3 ms·
These products sell because people want them. They want low payments. They want to flip houses for massive gains in short periods. The facilitators aren't fl
by valuearb 9y ago
These products sell because people want them.
They want low payments.
They want to flip houses for massive gains in short periods.
The facilitators aren't fleecing them as much as just meeting their needs. Anyone who tells you that you can't afford that car or that home prices won't appreciate to the sky tomorrow isn't going to get your business.
And my school and my kids school teaches basic finance. No one ever remembers it because most kids aren't interested in it.
- bo1024 9y ago> The facilitators aren't fleecing them as much as just meeting their needs. That's a misleading statement, unless you replace "needs" with "wants".
- kerbalspacepro 9y agoI feel like the difference between "needs" and "wants" is an elementary distinction we make on a day-to-day basis. But when we're talking about firms and economics, the distinction does not exist except as labels for the amount of elasticity in demand something has.
- bo1024 9y ago...but, when we're talking about individual human beings, who may be misinformed and shortsighted, the distinction is pretty important.