Precisely! It's the lack of financial education early on.
Personally, I think most people should at least read
Rich dad, poor dad
By Robert T. Kiyosaki, Sharon L. Lechter

:nanana:

Wait a minute, you mean it comes back to individuals again?

As with just about every other regulatory agency in our government, you have the foxes guarding the hen house.

If you look closely, each and every government regulatory agency is either run by someone who is a former CEO of one of the companies he/she is now supposed to be regulating, or they are a former lobbyist for the industry, or a politician who has spent their career preaching less regulation.

Instead, the person put in charge of regulating an industry should have no previous ties to that industry and should be someone with a background in law enforcement, like perhaps a former district attorney or federal prosecutor.

As I am in the music industry, I'll share an example. The Federal Copyright Board is meeting this week to set the statutory rate for mechanical roylaties. Wouldn't it be great for me and every other music publisher out there if this board were made up of former music publisher CEOs and former songwriteres. Unfortunately, we have no such luck! But many other industries do.

Getting back to the original question:

What is the root cause of our financial dilemma?

I think the answer is clear. ERIC5273 continually refusing to actually buy a premier membership to this site.
So even though he reads, posts frequently and generally stirs the pot, he obviously thinks he is entitled to be here, for free, forever.

So like most of the other problems we have in society like people stealing music, movies, subprime mortgages... The problem is people want something for nothing... They are too cheap or too stingy to actually spend money on things they enjoy at the cost of others..

But that's just my opinion..

OMG, that might have been the best example ever :bustingup

Hmm.. the first post that isn't blaming some govt agency or method of business.

You guys still haven't started looking at WHAT is the cause not WHO.......

Cheers

John