From the mouthes of babes......

[marmar]

I've been volunteering as a writing coach, helping out with an after-school program in the Detroit Public School system.
Well today, I sat in on a social studies class, and the teacher was trying to explain the economic crisis and derivatives, and how people tried to make more money by repackaging and selling debt.
Then one of the 7th graders interrupted and said: "Why would anybody think that was a good idea? If the money is made from debt, then that doesn't sound like it's really money to me."

And they pay the people on CNBC to not make nearly as much sense as this kid.

[Fridays Child]

1. k/r

[Skittles]

2. that volunteer work sounds awesome

who runs that kind of stuff?

[marmar]

4. It's a mentorship program run through the Detroit Public School District.....

..... the school district foundation organizes it.

[dana_b]

3. a seventh grader underastands this but most adults don't.

btw, good for you for volunteering!!

[marmar]

5. Thank you. It's unbelievably rewarding......

..... especially when you get through the too-cool-for-words attitudes of middle schoolers, and see them actually take joy in writing.

[Lex]

6. In fact, a debt is an income stream (money) to someone (a lender).

IF the debt can be paid.

The problem we face now is that the debts were based on people making money, keeping their jobs, to pay the debts and they were secured with over-inflated house prices and on adjustable rate mortgages that people couldn't afford when they adjusted up.

[geckosfeet]

7. Our entire monetary system is based on debt.