Ask an Expert? Why Experts are full of crap.

Two years ago, there were thousands of experts recommending that you suck all the equity out of your house and use it to start flipping houses. Two years ago there were THOUSANDS of experts in newspapers and on TV telling you to buy AIG and Bear Stearns stock. Today there are thousands of experts telling us to sell our stocks and to pay down our debt. Truth be told, I think we all have the ability to look around at conditions and decide for ourselves without relying on these so called “experts.”

What brings this to my mind, is today while watching the financial channel, a woman called into the show to ask an “expert” if she should pay down her credit card bill with her stimulus check, or if she should sink that money into her house. The credit card was at 15.24% a year. They told her to pay down the debt, she responded that she “thought so, but just wanted an expert opinion.”

This is a perfect example of people being too stupid to simply use a little common sense. The typical American consumer is programmed to watch tv to figure out what they’re supposed to do, instead of just seeing if what they think they should do makes sense.

Obviously debt that is racking up interest at 15.24% is ridiculous, and sinking 7500 bucks into a house that you can’t get that money out of is absolutely retarded. If you can’t figure out that equation, maybe you shouldn’t own a home.