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Is knowledge the positive outcome of the financial crisis?
I think the financial crisis might be making us smarter. I was at the library this past weekend and the people using the computers were all reading sites like Forbes, Kiplinger and the Wall Street Journal. I've also noticed on my commute to work that young people are reading the business section of newspapers. Even my twentysomething friends are starting to ask their parents questions about what is going on and advice on how to save and pay off their debt.
None of us know what is going to happen with this, but do you think one of the positives of the financial crisis is knowledge? Are Americans going to be better consumers and savers as a result? If so, is the financial crisis actually a blessing in disguise?
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Honestly, it's caused me to become a whole lot more involved with my finances and figuring out who is better equipped to handle the fluctuating economy. Definitely a wake-up call for everyone.
I don't know that it's a blessing, per se. People are losing their jobs and their homes and their minds and I'm not sure that's an acceptable sacrifice to get people more educated about debt and money. I think they would have eventually learned this stuff, it's maybe just happening sooner because they're forced to deal with it right now, in the middle of a crisis.