Suze Orman: The American Dream As We Knew It Is Dead!

[democracy1st]

Run time: 12:05 https://www.youtube.com/watch?v=262oK0M5nMY   Posted on YouTube: March 10, 2011 By YouTube Member: MOXNEWSd0tCOM Views on YouTube: 840   Posted on DU: March 11, 2011 By DU Member: democracy1st Views on DU: 4121

 

http://www.suzeorman.com/

Suze Orman has been called “a force in the world of personal finance” and a “one-woman financial advice powerhouse” by USA Today. A two-time Emmy Award-winning television host, New York Times mega bestselling author, magazine and online columnist, writer/producer, and one of the top motivational speakers in the world today, Orman is undeniably America’s most recognized expert on personal finance.

Orman is the contributing editor to “O” The Oprah Magazine, the Costco Connection Magazine and for the last nine years host of the award winning Suze Orman Show, which airs every Saturday night on CNBC. Over her television career Suze has accomplished that which no other television personality ever has before. Not only is she the single most successful fundraiser in the history of Public Television, but she has also garnered an unprecedented seven Gracie awards, more than anyone in the 35-year history of this prestigious award. The Gracies recognize the nation's best radio, television, and cable programming for, by, and about women.

In October 2010 Forbes honored Orman as one of “The World’s 100 Most Powerful Women”. In May 2010 Orman was presented with an Honorary Doctor of Commercial Science degree from Bentley University. In that same month, Orman received the Gracie Allen Tribute Award from the American Women in Radio and Television (AWRT); the Gracie Allen Tribute Award is bestowed upon an individual who truly plays a key role in laying the foundation for future generations of women in the media. In October 2009 Orman was the recipient of a Visionary Award from the Council for Economic Education for being a champion on economic empowerment. In July 2009 Forbes named Orman 18th on their list of The Most Influential Women In Media. In May 2009 Orman was presented with an honorary degree Doctor of Humane Letters from the University of Illinois. In May 2009 and May 2008 Time Magazine named Orman as one of the TIME 100, The World’s Most Influential People. In October 2008 Orman was the recipient of the National Equality Award from the Human Rights Campaign. In April 2008 Orman was presented with the Amelia Earhart Award for her message of financial empowerment for women. Saturday Night Live has spoofed Suze five times during 2008-2010. In 2007, Business Week named Orman one of the top ten motivational speakers in the world—she was the ONLY woman on that list, thereby making her 2007’s top female motivational speaker in the world.

Orman who grew up on the South Side of Chicago earned a bachelor’s degree in social work at the University of Illinois and at the age of 30 was still a waitress making $400 a month.

[Ken Burch]

1. Christ! If Manic Money Woman has given up....that's pretty much IT for capitalism...

Might as well have the revo now.

[Marblehead]

2. how to be happy

in the soup line, BS ,Let's take back the trillions the bankers stole from us...

[dotymed]

3. Exactly right.

Now they want us to live ethical lives of introspection while they squander OUR money. It is obscene and we must fight this.
Maybe "while standing in the payday loan lines".........

[FiveGoodMen]

7. "Let's take back the trillions the bankers stole from us"

A-Fucking-Men to that!

How stupid are we, anyway?

[DeSwiss]

4. Where to I send the flowers? - K&R n/t

[howaboutme]

5. Could it be dead because of those greedy people

that are so fucking enamored with more money? Or is it an affliction in their genes by those who have the idea that one-upmanship and making more money at the expense of all others is always good? The greed of Wall St was at the expense of country and to the benefit of the profiteers in their little elite club.

What I appreciated about Suzie Orman was that her advice was fiscally conservative, and didn't blatantly benefit the WS hucksters that most certainly and most often attended the same Manhattan parties.

Unlike CNBC her advice benefited real people all over the USA.

[The Backlash Cometh]

6. Jesus. We are such a superficial nation.

All those fuckers who were greedy assholes and overreached at our expense during the nineties and double 0 years are now going to redefine their lives by living an ethical lifestyle so they can sleep well at night. How nice. It must be so therapeutic to skip the restitution part--because you know, it's a trend.

[doc03]

8. I think she is exactly right. We have lost the political

battle with the rich, this last November was the end. The Right now has the SCOTUS decision that allows corporations to buy elections and we are witnessing the final death of labor. Unless the American people take to the streets like in the 60s we are done. Give me a reason why I shouldn't feel this way, please. We could have possibly started to dig ourselves out if the Bush tax cuts for the rich were allowed to expire, Obama caved and then gave them the ammunition to finish SS by agreeing to the payroll tax cut.

[JDPriestly]

38. The rich could not buy California in the last election.

Not after almost 8 years of Schwarzenegger. Schwarzenegger opened the eyes of Californians.

[upstatecajun]

9. Its all part

of their Plan. If you still have something to take they will be there soon to get it people. So everyone be happy with your $8 an hour jobs with no health care and no future.

[lumberjack_jeff]

10. It's dead for most of you suckers anyway.

I'm not talking about US on this side of the camera, mind you.

[onethatcares]

11. I share your thoughts to a T

she's another talking head that actually furnishes nothing to the value of the nation or its working people.

It's like reading the tabloids at the supermarket checkout. Interesting but mostly full of shit.

[Buddha2B]

12. Suze Orman has a good racket

She sells philosophy in boom times, then philosophy in Bust times.

The little people all have to adjust their dreams, because the powers that be are all living beyond their wildest dreams.

[defendandprotect]

15. True -- and PBS played it all -- and remember ...

the distortion of "Adam Smith" --

I've never watched this but for a few seconds but we all really need our BS-meters

turned waaay up ---

[susu369]

28. So agree

*nt*

[defendandprotect]

13. Actually, capitalism is dead -- we've just forgotten to bury it -- !!

Capitalism is a ridiculous "King-of-the-Hill" system intended to move

a nation's wealth and natural resources from the many to the few --

Unregulated capitalism is merely organized crime!

[DeSwiss]

14. Exactly.

http://www.youtube.com/watch?v=le9y22XsXy4&feature=feedu">We-Must-Shift-The-Paradigm

[defendandprotect]

18. And ...

thank you for the link -- saved it in my "capitalism" file --

think I've seen it before -- but will recheck soon!


:)

[patrice]

16. "scar" = Good work isn't worth shit, especially when it comes to job security. The value that you

and you alone bring to a successful effort is used against you by making your work attractive to buyouts, mergers, and in the public sector, privatization. Good work guarantees job loss rather than longevity; your work doesn't matter, because you will be replaced. That's the scar.

[defendandprotect]

19. Slow down, folks -- get together and slow down the productivity .....

[patrice]

43. Need more worker-owned, or worker-co-owened enterprises in order to protect

the workers' own capital, a.k.a. labor, instead of, status quo, everything a worker does on the job is 100% the property of the corporation.

[Amerigo Vespucci]

17. Yeah, well...fuck Suze Orman. The woman turns my stomach.

The American Dream will never be dead to Suze as long as there's a book or one of her other products to pimp...guaranteed.

[CrawlingChaos]

20. shameless and disgusting

Who can stand to listen to this obvious fraud?! Anybody remember her making the rounds shilling for TARP, frantically urging viewers to call their reps and demand that massive heist be rammed through immediately? I sure do! And now her message is - learn to be happy with less, you'll never retire, don't even think about taking SS early -- just accept that you're screwed, so put on a happy face and don't make trouble.

Figures she's teamed up with Oprah. Makes so much sense.

[customerserviceguy]

33. I don't remember her shilling for TARP

And a Google search of "suze orman tarp" gets me nothing. Perhaps you have a link? I'll admit, I was without CNBC from April, 2005 to just last month, perhaps I missed something.

I've never known her to preach anything but being financially responsible, and not feeding the beast by buying the latest bright shiny thing out there. I've seen her give the kind of advice I was giving back when I had a tax accounting practice in the 1980's.

[CrawlingChaos]

37. here you go

Try searching "Suze Orman + bailouts" and you'll get some results:

http://edition.cnn.com/2008/LIVING/personal/09/19/lkl.suze.orman/index.html

http://articles.cnn.com/2008-09-17/living/lkl.suze.orman_1_aig-bailout-suze-orman-stock-markets?_s=PM:LIVING

http://www.youtube.com/watch?v=2yOsK9JZviI

I remember her babbling head being all over the place for awhile there, assuring us that the sky would fall if they didn't ram the bailouts through and admonishing all the people who were calling congress to oppose it.

[customerserviceguy]

44. Thank you, I appreciate the links

I haven't been getting anything above channel 21 for quite some time, my lady and I decided to cut back to the very, very basic $30 per month cable package which gives us area broadcast channels and three PBS stations, so we have been getting by. I wasn't aware of her support for TARP.

However, two things:

1) I don't see any statements by her on the moral failure of the people who tanked those banks, and caused those bailouts. In the first link you cite, she clearly faults the banksters for getting us into the situation, and I doubt she'd oppose criminal and/or regulatory action to contain these individuals and institutions.

2) Clearly, she's coming from the perspective that if the bailouts had not happened, a lot of little people in this country (and the world) would have been hurt far worse than they already have been. That puts her squarely in line with the President we elected, who appointed one of the bailout's architects to be our current Secretary of the Treasury. That President has a Justice Department that's done nothing to prosecute those who got us into this mess, and are still profiting from it.

Would there have been a financial Armaggeddon if the bailouts had not occurred? I guess we'll never know, because TARP did happen. We now have an administration that says that TARP worked, and made the country a profit. Why that excuses anybody who might have necessitated this drastic 'solution' is beyond me.

Yes, Suze Orman apparently did fan the flames that ignited TARP, but by far, she wasn't the only one.

[JDPriestly]

42. Everybody I know, and since that is my age group, I know a lot of

people in it, everybody is taking early Social Security, early retirement. It's not that we wanted to retire this early. It's that we cannot get jobs. Many of us have lost good jobs since Bush became president in 2001 -- and because we are older, we cannot get new ones.

Suze Orman is a snake doctor. She sells junky ideas.

Having a lot of money may not make you happy, but not having enough money sure makes you miserable.

If you can't get a good job, you will probably end up really miserable.

Suze Orman struck out big time on this one.

[customerserviceguy]

45. I hear a lot of vitriol on this thread for her

and while another poster and I have indeed exchanged thoughts and information about her role in TARP, other than that, I don't understand it.

JD, I've read many of your posts for quite some time, and I know you to be a very good defender of your ideas, so I ask you: Which of her ideas about people's personal finance do you find "junky"? I've always admired her mantra of "People first, money second, and things last." Is that a junky idea?

[JDPriestly]

47. Suze Orman has focused on how one family can organize its finances,

but for years she did nothing to educate people about the need to fight for your economic rights with your voice, your letters, your vote, your efforts to make sure the right people get elected to office, people who do not have huge campaign debts to the banks. (Bush's big donor was MBNA now part of Bank of America.) It was the ignorance of the American people about the politics of their economic lives that lead so many Americans to lose their jobs and to be unable to pay their bills and afford a future that is prosperous and, let's face it, healthy. Suze Orman was silent about the ticking time bomb of horrible legislation aimed to put working people in misery for many years to come.

As Michael Moore pointed out, our country is awash in money. We never have too little little to pay some of the highest CEO salaries in the world, to fund wars or to pay for political campaigns. Suze Orman never pointed out the injustice that caused some of her viewers to be in such awful financial straits.

I would advise you to watch the movie, Maxed Out. It is several years old, but Suze Orman is featured for a short cut in the expose on the credit reporting industry. The narrator informs us that, while preaching to her viewers about the importance of credit ratings, she failed to say that she received money from one of the ratings companies. The narrator then proceeds to explain some of the problems with the credit ratings system and how extremely much power it has. We Americans should have been shutting that system down, curtailing the excesses of the banks and credit card companies and ending the horrible influence that banks have in D.C. Where was, where is Suze Orman on these issues?

Do Americans need good advice about personal financial choices? Yes. But even more, they need to be told the horrible truth about how the bankers and mortgage companies and free trade advocates, the IMF and the Republicans have sucked the American economy of its life.

Orman's words of "solace" (Americans will learn to enjoy life with less money) leave a very bitter taste in my mouth. That is because having left the American people to stew in their own ignorance about how our economy really works, she walks off into the sunset of her life well fixed. Many of her viewers will grieve the rest of their lives, suffering horrible guilt because they failed to listen to Suze Orman and make the right decisions way back when. "I really shouldn't have bought that $50 collector's item plate. I should have saved that money."

People who followed all of Suze Orman's advice, lived within their means and saved money for retirement, but lost their jobs at 55, never to find another will most likely have spent all their retirement funds by the time they qualify for Social Security. Those over 65 who also followed Suze Orman's advice and lived frugally are now finding that the money they put aside in savings accounts and 401(K)s pay nearly no interest. Might as well have spent the money and enjoyed life when they were young.

The plight of Americans was not necessary. Had Suze Orman alerted her viewers to the macroeconomic realities as well as the limitations of their personal situations, we might all be much better off.

Oh, well. The good news is that Suze has put herself out of a job. Thanks in part to her silence on the real decisions that Americans needed to make, it will be a long time, perhaps never, before our economy improves. Her shows were interesting as long as people had enough discretionary income and credit to need to make choices. But most people don't have enough discretionary income or credit to need her help in making choices. Goodbye, Suze Orman.

[customerserviceguy]

48. So, it seems that your problem with Suze Orman

is that she has focused on helping individuals manage the system we find ourselves in, rather than leading the charge to take down the banksters? That's true, and she is probably well-known enough to be a powerful voice for leveling the playing field, but in the meantime, I see her as someone trying to give people sound advice on dealing with the reality of an uneven playing field, and that empowers individuals without the need for government action.

I saw her PBS fundraiser special today, and it's pretty clear that she is shocked by the fact that the old rules just aren't working for people today. But her basic ideas have kept a lot of people out of trouble, if followed. There's nothing stupid about having eight months of living expenses socked away, or making sure you take advantage of up to the 50% match that your employer may offer for your 401K at work.

I guess I see her differently. What you view as "Be happy with less, and learn to enjoy it," I see as "Live within your means, and make sure you have something set aside for the future." Yes, interest rates are very low right now, but they won't be for long. Those with something in savings will see a return, but it may or may not keep up with the coming inflation.

I wouldn't be surprised if she were getting something from Transunion (the credit agency that her website partners with), but there's nothing wrong with telling people to make sure they keep a high FICO score. It's just a reality that landlords, employers, and auto insurers use this information when making decisions, and she's not to blame for that. In fact, just a few years ago, the voters of the state of Oregon (as blue a state as they come) voted against having auto insurers use credit scores in ratings. If we can't get the people of a fairly progressive state to see the light, what hope has one financial advisor got?

After reading your response to me, I guess some of the vitriol is directed at the perceived "pull yourself up by your own bootstraps" tone of Orman's words, if you read that into it. I guess I believe that each of us have a first duty to look out for our own selves, and our loved ones, because government is not likely to do it. Even when we elect the first supposedly progressive President since JFK.

[AKDavy]

21. Frugality and austerity can be a powerful weapon

What would happen to Wall Street if those of us fortunate enough to still have money refused to spend it on anything except the essentials? What would happen if we divested in national banks? What would happen if we held on to the automobiles we have? If we didn't replace anything until it was broken, rather than just out of style?

[neoralme]

27. That's what we're doing now. Although Orman said a couple of things

that sounded reasonable, I couldn't stand the the utter cavalier tone in her voice. She said the American Dream is Now Dead almost like someone would say The Lakers lost the basketball game today.

[AKDavy]

31. What I didn't like was the idea that changing a dream is just that simple

We were lied to, the dream just changed.

I intend to be austere, though I'm among the fortunate who don't have to. For me, it's a weapon I intend to aim at the system.

Consumption is 70% of the GDP. That's the soft underbelly of the ruling class. They need us to be good little producer/consumer units.

[neoralme]

32. If they cut SS, the old and infirmed will spend less and so will the

sons and daughters who steer money away from buying things and toward parents and others. I'm doing the same as you, and sending out Koch Brothers' owned companies reports.

[kickysnana]

22. I was watching her on PBS last night...

The advice she was giving and she is positive she is is dead on about and the part I watched was about short sales and investing in private pensions. She stated Roth IRA funds are currently earning about 7-12% but I know that the forces that took our money in the last decade are still there, still greedy and they will come for that and military pensions until we stop them and she is advocating going home and loving your children because there is nothing to be done about what happened what will happen.

Really. She stresses rolling with the punches, take your loses and don't worry your pretty little head about doing anything about it.

People are actually sitting on the edge of their seat trying to take in some hope and she was offering no real hope, only more speculation.

The truth is she was a cheerleader for people investing in things that cost them their life savings, their home, their jobs and their health but now I am going to tell you about the "New American Dream" and I am right this time. Really sad.

[blackspade]

39. Please. Use. Punctuation.

You also seem to be reversing yourself from your first sentence to the last.

[underpants]

23. Mika - BUT IT REALLY IS ABOUT THE HAPPY!!!

once again we have to present

Happiness Machines 10:00
http://www.youtube.com/watch?v=3dA89CBBOC0

[Hamlette]

24. "the rich have stolen your dream, learn to love your nightmare"

is that what she's saying?

Christ. How depressing. Not because of the state of the economy but because a guy who's bathroom is 6,000 square feet (yes, I know hyperbole) is telling the world to learn to love your cat food dinner.

What are these assholes?

[neoralme]

25. These are the enemy. These are the ones who will pay zero attention

to protest signs and songs being sung in the public square. These people will understand only one vector. Literal war on the streets is coming. This is the exact reason that Bush ended Posse Comitatus, the act which disallowed the military from entering domestic squabbles. The confrontation is coming. I believe it will explode when they try to steal social security.

[cprise]

26. Imagine them all wearing breaches, corsets and powdered wigs

n/t

[fascisthunter]

30. nail, meet hammer!

:toast:

[cprise]

40. Been doin it for years now

...and it totally fits about 80% of what you see on TV. News anchors are different though: They should be wearing epaulets with fringe (bellicose bastards).

:beer: :beer:

[fascisthunter]

29. SO, in other words be satisfied being poor, because it leads to true happiness

fuck off... we'll be happy when you rich pay your fair fucking share, and you can take your snotty advice and stick it in your rich ass. How insulting...

[NCcoast]

34. Exactly

This sounds like an opiate for the masses. We've stolen your dreams along with all of your money so you need to make your peace with poverty rather than get all uppity like those Wisconsinites. I call bullshit on this. Way too calculated.

[JDPriestly]

35. A nation of many poor renters and a few rich landlords.

That's the "happiness" that Suze Orman is trying to sell us.

[tedbear]

36. America as we know it

Suze is right - it has been happening for years -
outsource our jobs - every time you call about your computer or cell you talk to someone in India -
everyone lives and has been living on credit cards with the attitude of "I'll always owe money so I might as well owe alot."

Now, the unions are being disposed of by the Republican Party and we will be working for $1.50 an hour and it will happen, because there are enough people of this country who can be manipulated by politicians who claim to be Christians or who want to end "big" government so that the corporations can pay them and we can pay them for ripping us off.

The unions began so that working people could make a decent wage and work 8hrs. a day, and children couldn't be used instead of paying adults. The middle class of this country was started BECAUSE OF THE UNIONS FORCING BUSINESS TO PAY A DECENT WAGE AND BENEFITS. WHAT HAPPENS NOW DEPENDS ON THOSE OF US WHO SEE THRU THE POLITICS AND GET OUT THERE AND MAKE IT CLEAR TO THE REPUBLICANS THAT WE ARE NOT GOING TO LET THEM TAKE THE REMAINDER OF THE COUNTRY.

[nonoxy9]

41. Oh, Boy! The dream is dead!!! All us poor people should just

light sparklers and enjoy the race to the bottom! So what if we grew up in a country where each generation was better off than the last, now we just need to stop caring if our kids will go to college or even have jobs. We just need to let it go and enjoy the freedom!!! Wheee!:puke:

[Keith Bee]

46. Orman is such a Phony

I'd unrec if the time hadn't expired.