Why I'm Against Welfare (or Free Money)

According to the authors of a book about how wealth destroys families, "...70% of all lottery winners will squander their money away in a few years."

Basically, instead of teaching someone how to fish, you're giving them a cannery. However, since they do not have the skills to run a business (or manage money), they eventually lose it all.

The authors also "found that when new wealth is created within a family, there is a 90% probability that all of the wealth will be gone by the third generation."

This means that rich kids and grandkids blow through their parents' money in a short time.

Recently, in a Wall Street Journal article, I read that 3 winners of Extreme Home Makeover have lost their homes. Basically, after getting their free mansion, they took out mortgages.

That was smart.

So, if you really like the homes on the show, three of them are now in foreclosure.

What's the moral of the story?

Giving someone money, without the knowledge to manage it, is a complete waste.

I am a much bigger fan of Nobel Prize Laureate Dr. Muhammad Yunus, the founder of Grameen Bank. He's one of the pioneers of microfinance/microcredit.

Although I'm not sure what the solution is, I do know that blindly handing someone cash is not the answer. If you do, you're one of those... enablers (I think that's the word that Oprah uses).

Personal Responsibility

Remember the infamous McDonald's lawsuit?

Yes. The coffee was piping hot, but are you supposed to drive a car with a hot cup of coffee between your legs?

Apparently, this is also happening here in Korea.

2 Million Won Granted for Sprained Ankle in Cinema

By Kwon Mee-yoo Staff Reporter If a moviegoer sprains his ankle while exiting a dark theater, are they entitled to compensation, and if so, how much? A theater was told to pay 2 million won ($1,670) to a patron who hurt his ankle because the theater was too dim, a court said Monday.

Based on the article, the man left the movie theater during the film to answer a phone call.

It was really dark. He slipped and hurt his ankle. However, the Korean judge felt the movie theater was somehow at fault.

Does this mean that movie theaters cannot turn off all the lights during a movie?

Or do we need a warning sign in all movie theaters?

"Be careful when exiting the theater during the film. It's dark."

We are currently living in a world without personal responsibility. It's never your own damn fault.

If you're poor, you can blame rich people.

If you're out of a job, you can blame the economy.

If you're unhappy, you can blame your parents.

If you're uneducated, you can blame the school or teachers.

If you're gaining weight, you can blame fast food.

If you fall, you can blame gravity.

For everything else, you can blame the government.

If you're bored, you can blame me.