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• Tuesday, April 1, 2008 10:35 PM

  Greed is the problem. But not just for the rich.

  The causes of the current economic meltdown are complex and manifold, to be sure.

  However, no where in this article is the greed of the American 'poor' mentioned as a direct cause, which it most definitely is. In my own experience as a middle-class 'saver', I am continually appalled at how the lowest-income people seem to be the ones who own flat-screen tv's (which I don't), drive new (leased) vehicles (I drive an older, used car I paid cash for), carry expensive handbags, own Wii's and on and on. At the same time, these people 'can't afford healthcare' (yes, it is outrageously expensive; especially if you are self-employed as my husband and I are. Hence the reason we can't AFFORD flat screen tvs, luxury handbags, etc.) We find a way to afford healthcare and don't buy things unless we can actually afford them--with cash.

  You'll get no argument from me that the income disparity in our country is sick and wrong. But let's be honest here: the problem of greed is much deeper and wider than that. An addiction to consumption and living beyond our means is very much at the heart of this crisis as well. Many people could afford healthcare and other such things. They just don't choose to. They are too busy watching American Idol on their flatscreens, instead of reading about how to manage their money wisely.

  —traderjoy Read traderjoy's other letters
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