Hey, that don't work. I put a condom in a cucumber every time I had sex and my girl still got pregnant.
Posted on 04/09/2008 11:38:51 AM PDT by george76
Young people's financial know-how has gone from bad to worse.
High school seniors, on average, answered correctly only 48.3 percent of questions about personal finance and economics, according to a nationwide survey released Wednesday by the Federal Reserve.
That was even lower than the 52.4 percent in the previous survey in 2006 and marked the worst score out of the six surveys conducted so far.
With home foreclosures at record highs, Fed Chairman Ben Bernanke stressed in a speech that young people must sharpen their financial knowledge so they are in a better position to make sound investment decisions throughout their lives.
"The financial preparedness of our nation's youth is essential to their well-being and of vital importance to our economic future," Bernanke said at the Fed event on financial literacy.
"In light of the problems that have arisen in the subprime mortgage market, we are reminded of how critically important it is for individuals to become financially literate at an early age so that they are better prepared to make decisions and navigate an increasingly complex financial marketplace," ...
(Excerpt) Read more at biz.yahoo.com ...
Maybe the high school kids could write off ( on their taxes ) the back seat as entertainment ?
All they need to know they learn from ‘adults’: don’t bother acting responsibly, the government will bail you out.
Yeah right. This will never be pushed in indoctrination centers..oops, I mean public schools. This is what the govt wants. More sheeple looking to them (govt) for “help”. Meanwhile the schools will concentrate on the really important things like diversity, global warming, etc.
What is right and historical perspective are being replace with a sense of “fairness”.
We should take money and give to the poor because it is fair!
Oil companies make too much it is unfair!
People losing their homes is unfair government should protect them... etc etc
This is already a prevailing notion on the left but by the time my generation takes power it will be the mainstream view.
Don’t even think that this is an accident.
It’s a shame we can’t get Bernanke to be economically literate about the inflationary consequences of easy credit.
but they get A’s in applying condoms to a cucumber.
Sadly, that was my first thought as well.
The economy is in
A. The toilet
B. The sewer
C. The Marianas trench
The correct answer is C. Sweet, I passed econ.
I have been saying for years that the greatest tragedy of public education is the complete lack of personal finance and economics courses.
I can not help but think that their are only 2 possible reasons.
1. There is not anyone involved in education that has a clue.
2. There is a conspiracy on the part of the left to keep the masses uneducated in finance as personal wealth represents personal freedom and independence.
In a free market economy, young people should be taught how to invest and manage their money. I’ve always believed the poorest students might show more interest in their studies if their studies taught them how to become wealthy. :-)
As a former teacher (most recently in ‘04-’05) it’s clear to me that there are three huge reasons for this, all of which are related, in order of importance:
1. Breakdown of traditional family
2. Kids follow the examples of their parents’ generation
3. No Child Left Behind is destroying mathematics education
Many of you may disagree with the third point; as a conservative in public education, I must warn all of you that each year the tests become easier and less relevant to real life while the amount of time teachers are required to spend “teaching to the test” increases. Pretty soon, students will go to school for seven hours a day, five days a week, to prepare them for one three-day multiple choice test. That’s SAD.
Carolyn
I’ve been saying the same for years, and everyone around me laughs at the idea. (Go figure.) I wish I were taught more about personal finance and investments in school. I’d say your number 2 reason is the real reason.
Hey, that don't work. I put a condom in a cucumber every time I had sex and my girl still got pregnant.
No wonder the Democrat party operatives think they can convince these “new to the process” voters to go their way.
It also explains why so many young people think Obama is great.
I graduated in ‘82. They weren’t requiring it then, either. Classes probably do have lessons in personal finance, but not one whole course covering real estate, banking, everything.
Makes me glad that my parents sacrificed as much as they did for me to attend a parochial school...
When the Fed tells me there's no inflation yet gas is almost $4/gallon...and the Whole Foods Market is becoming known as the 'Whole Paycheck Market'...I begin to wonder if the reason there's "no inflation" is because the plummeting home prices are balancing out the humongous increases in energy & food & other consumables...
The other possibility is that these students aren't given enough time to answer ALL the questions (that's how it was for me back in the ought-60s) so they're just GUESSING at the more troublesome questions. If those finance questions happened to be True-False, then they're actually doing just as would be expected coming in at around 50%...
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