The Public's New Fear of Finance - WSJ.com

The Public's New Fear of Finance - WSJ.com:

"However, the real 'neighbor test' should be with politicians (who are promising people things they know can't be paid for) and unions (who defend their rights, while again demanding benefits that destroy businesses (GM and the UAW) or don't care that they aren't educating children (teachers unions)).

Something is wrong in the basic economy. No one wants to tell people that society can't afford to let you work for 30 years and retire for 40 with almost an equivalent income and in fact lower costs for healthcare.

When people can't somehow get out of high school and get a job that affords them a 3 bedroom, 2 bath house, 2 cars and a boat - with the above retirement - they feel cheated.

Well, it's easier to blame the bankers; but, they are also the ones doing their best to keep the economic boat as afloat as possible. With good salaries, they encourage the best and the brightest to work there.

Something is wrong with the economy; but, as long as we let people believe its the banks, then the real culprits are getting off scotfree; and, the problems aren't being solved.

(A UK example is Darling's promise of a 2.5% nominal, 4% real increase in income subsidies at the same time as the UK government budget needs to be cut - i.e. we can't ask people to face the facts that the economy can't afford some things."