Fed chief to grads: Money can't buy happiness

[goldmonkey]

Fed chief to grads: Money can't buy happiness
http://news.yahoo.com/s/ap/20100508/ap_on_bi_ge/us_bernanke_happiness


Your parents were right. Money can't buy you happiness. That was the message from the Federal Reserve chairman on Saturday to graduates of the University of South Carolina.

"We all know that getting a better-paying job is one of the main reasons to go to college. ... But if you are ever tempted to go into a field or take a job only because the pay is high and for no other reason, be careful!" Ben Bernanke said in his commencement address.

"Having a larger income is exciting at first, but as you get used to your new standard of living and as you associate with other people in your new income bracket, the thrill quickly wears off," he said.

The Fed released his prepared remarks before he gave the speech.

Studies found that just six months after winning a large lottery prize — even in the million of dollars — people reported being not much happier than they were before winning, Bernanke said.

Bernanke's advice blended what economics and social science have to say about personal happiness. When you boil down all the studies and fancy formulas, it sounds a lot like what your parents told you.

Other findings: Happy people tend to spend time with friends and family. Happy people tend to do what they love for a living or a hobby. Happy people tend to feel in control of their lives.

Happiness research is useful for policymakers, too, Bernanke said.

The Fed's goals include promoting economic growth and employment. Richer countries tend to report higher levels of satisfaction because they tend to be healthier, have more leisure time to pursue hobbies and have more interesting work, Bernanke pointed out. Richer countries tend to have few citizens in deep poverty, he added.

Sometimes being unhappy is a good thing.

"It is possible that doing the ethical thing will make you feel, well, unhappy," Bernanke told the graduates. "In the long run, though, it is essential for a well-balanced and satisfying life."

[1970 Silver Art]

Money may not be able to buy happiness but it will buy everything else.............at least for now before the $ completely collapses.

[BoatingAccident]

I actually agree with Bernanke here, money doesn't buy happiness.

However, since he's FED chairman....it's a little creepy hearing it from him.

[MNeagle]

"It is possible that doing the ethical thing will make you feel, well, unhappy," Bernanke told the graduates. "In the long run, though, it is essential for a well-balanced and satisfying life."

Maybe he has some experience in this??

[Book]

http://3.bp.blogspot.com/_7yqWRHRaihk/R92ogu2hFBI/AAAAAAAABB8/70Qp4YGUx7g/s400/netjets_gates_buffet_ad.png

Why are these two unhappy guys smiling?

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[MNeagle]

Because they have Coke-Cola classic with sugar in it, and you don't!!

[BoatingAccident]

Because they have Coke-Cola classic with sugar in it, and you don't!!


MNeagle's right. Those bastards are sitting high on the hog with real sugar...while us common folk, have HFCS crap.

Let's rally the troops.

[Book]

http://www.4guysfromviewpoint.com/uploadedimages/Rich%20Guy.JPG

Money can't buy happiness?

:oo-->

[BoatingAccident]

http://www.4guysfromviewpoint.com/uploadedimages/Rich%20Guy.JPG

Money can't buy happiness?

:oo-->






Money, can buy a piece of ass....but that doesn't mean true happiness.

[Book]

Money, can buy a piece of ass....but that doesn't mean true happiness.



http://www.wackyarchives.com/wp-content/uploads/2008/04/rich-vs-poor.jpg

Ever notice that only poor people rationalize like that?

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[BoatingAccident]

Ever notice that only poor people rationalize like that?

:oo-->




;D OK. Does that mean I'm not happy, or not have a right to be happy?

Perhaps, us poor folks just know how to suck the marrow out of life, a little better..than those who have everything handed to them?

[zap]

I agree money can't buy happiness.


Money can't buy happiness, But it can sure fool ya . ;)

[Book]

Perhaps, us poor folks just know how to suck the marrow out of life, a little better..than those who have everything handed to them?



Rationalization. Would you rather your children be sucking on bones or munching on a nice steak?

:)

[BoatingAccident]

Rationalization. Would you rather your children be sucking on bones or munching on a nice steak?

:)




Nice steak...though there's some gray area there. Cost of a bullet, a fresh deer, those are nice steaks too. Lot's of folks, providing, on less than a decent salary.

Remember though, regarding possessions...you think you own them, perhaps, they own you?

Some of my happinest memories, are when I just had a backpack, and an exciting future...taken, day by day, as a free man.

[Ponce]

Money wont buy happiness bu I sure as hell sleep a lot better......by the way, I am no "rich" and only have what I need.

He Book? where is that picture from?

[Gaillo]

Money isn't the key to happiness... but if you have enough money, you can certainly get a key made! ;D

[Book]

Remember though, regarding possessions...you think you own them, perhaps, they own you?



http://pastorron7.files.wordpress.com/2009/03/contentment-is-wealth.jpg

I suspect now that Rich People invented that "be content" stuff so that they would have less competition. A mind game on the naive.

:)

[BoatingAccident]

I suspect now that Rich People invented that "be content" stuff so that they would have less competition. A mind game on the naive.

:)


Well, I've often asked myself...what I'd change, if I won the lottery. The only thing, I'd change, is quitting my job...and I enjoy my job.

So, I think it's the rich that often delude themselves. Chasing wealth, it's never enough. Being content, with life, has it's rewards.

[Book]

Well, I've often asked myself...what I'd change, if I won the lottery.



If poor people were honestly content there wouldn't be millions and millions buying lottery tickets every week...lol.

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[BoatingAccident]

If poor people were honestly content there wouldn't be millions and millions buying lottery tickets every week...lol.

:oo-->




Good point, but ask those folks, who won...how their lives improved. From what I've read, their lives tend to be a bit more 'complicated'.

People play the lotto in hopes their problems find some quick solution.

I think, the solution, is often right there without seeking money to solve it.

[Book]

I think, the solution, is often right there without seeking money to solve it.



Let's hear it.

:)

[FunnyMoney]

That whole thing was filled with disinformation and double-speak. It's nothing more than utter bullsh!t intended to soothe the masses.

It twists the importance of altruistic motives and inner human knowledge into "it's good to be an unhappy grunt and slave to the system".

Coming from the chief rat, a leader among cockroaches who has only learned how to steal and make excuses in his life is not the only clue. They might tell you that eveyone can eat cake. Or that the cake doesn't really taste so good, really. But don't be fooled about who really gets to try the cakes and check them for themselves.

[gunny highway]

http://www.4guysfromviewpoint.com/uploadedimages/Rich%20Guy.JPG

Money can't buy happiness?

:oo-->






it sure does put a good down payment on it though... ;D

[BoatingAccident]

I think, the solution, is often right there without seeking money to solve it.



Let's hear it.

:)


No attachments.

[FunnyMoney]

No attachments.


Again, an entirely inside the matrix point. Not that altruism, the ability to control one's own behavior and understanding the significance of entering into relationships are not important.

But negation is never "the answer". Why should people be forced to follow some special way to be happy. Have no attachments. Have no wants. Have no desires and you will be fullfilled. These are also valuable ideas to study. But in reality they should not be, and in an honest world, they are never prerequisites for freedom or happiness.

People should be allowed to seek their own destiny. One size does not fit all and to believe that the individual is at fault when they fail to find hapiness despite all the forces of corruption, theft, and slavery which hinder them, is to ignore both the current evil and absolute power of the matrix in which you play.

[BoatingAccident]

No attachments.


Again, an entirely inside the matrix point. Not that altruism, the ability to control one's own behavior and understanding the significance of entering into relationships are not important.

But negation is never "the answer". Why should people be forced to follow some special way to be happy. Have no attachments. Have no wants. Have no desires and you will be fullfilled. These are also valuable ideas to study. But in reality they should not be, and in an honest world, they are never prerequisites for freedom or happiness.

How does no attachments equal no wants, no desire, no challenges? Having no attachments is the ultimate freedom that none, can take away. No attachments is no predetermined 'path' that the system wants you to follow.

It's about realizing that happiness, is not determined by what society says it is. It's what you define, for yourself.

[Book]

That whole thing was filled with disinformation and double-speak. It's nothing more than utter bullsh!t intended to soothe the masses.

It twists the importance of altruistic motives and inner human knowledge into "it's good to be an unhappy grunt and slave to the system".

Coming from the chief rat, a leader among cockroaches who has only learned how to steal and make excuses in his life is not the only clue. They might tell you that eveyone can eat cake. Or that the cake doesn't really taste so good, really. But don't be fooled about who really gets to try the cakes and check them for themselves.


Bingo.

http://www.mediabistro.com/fishbowlny/original/610ggx.jpg

They eat real good...lol.

:)

[1970 Silver Art]

Everybody's definition of happiness is different. To some people, having "stuff" makes them happy (a.k.a. being materialistic) and they will continue to pursue that to continue their happiness. To some people, being charitable and giving money to charity and volunteering their time there makes them happy and they will continue to pursue that to continue their happiness. To some people, being married and having children makes them happy. Everybody definition of happiness is different and while money may not buy happiness, it will make life easier to live if the money is managed properly. Having lots of money will not necessarily make you better off and it might make a person worse off, if they f*ckup and blow their money on crack and do other stupid things with money.

Look at the "poor" people who won 10's (even 100's) of millions of dollars and look at them 5 years from now. 10 years from now. Some of them are managing their money in the right way but quite a few of them end up being worse off since they continued to do the things that kept them poor to begin with after they won all of that money. Money can buy more misery if that money is not managed right and pissed away on stupid crap.