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Living On The (Financial) Edge
Living On The (Financial) Edge

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AIR DATE: February 6, 2013

More than 60 percent of Nevadans are one step away from economic ruin, according to the Corporation for Enterprise Development. We have some of the lowest rates of saving and the highest rates of debt in the country. And we ranked at the bottom of an Assets and Opportunities Scorecard. Can our state, and its citizens, take steps to fix this problem? We'll talk to policy and finance experts to find out how.

GUESTS:

Richard Barrington, senior financial analyst, MoneyRates.com

Michele Johnson, President/CEO, Financial Guidance Center

Kasey Wiedrich, Senior Program Manager, Corporation for Enterprise Development


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COMMENTS:
While 60% of people are living at the edge, our rulers and their cronies expect (no--they demand) to continue their gold-plated salaries and pensions. Tomorrow the County Commission will double the cost of garbage collection (through halving the services of Republic Services, a long favored crony of the politicians). Didn't something similar occur during the Middle Ages--except that during that time the Catholic Church created some enduring art works?
ed uehlingFeb 4, 2013 09:51:08 AM
Actually, Tom Hurst has it exactly wrong. He should not look to socialism for the cause of economic catastrophe, but to the fact that people seek to make profit at the expense of others. Take the housing crisis for example. We experienced that national travesty not because there were people who thought they could get something for nothing, but because there were salesmen who sought them out and conned them into signing. These "deals" didn't just appear out of thin air for people to sign-crude and dishonest salesmen looking for profit sold them this bill of bad goods, and therefore sold their own country down the river for a rich sum.
Jim in HendersonFeb 4, 2013 09:03:45 AM
Not to be callous, but this situation is nothing but an incentivised side-effect of big government, i.e. most people spend without care and don't save or invest because they think that the government will take care of them. Indeed, dependency on government is taught to them from their first day in school; everything from social security to health care to unemployment benefits to housing bail-outs to outright welfare are all presented as "good and necessary". Of course, the real economic truth is that when Peter lives at the expense of Paul - especially when the government middleman continually takes and then wastes a huge rake-off - eventually Paul runs out of money. That, in part, is why socialism - which is what all of those programs I mentioned really are - is economically unsustainable, period. What's really needed is a new era of personal responsibility, hard work and non-dependency on government.
Tom HurstJan 31, 2013 15:08:37 PM
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