Misconceptions, and What People Do or Don't Believe

Here are some excerpts from, as I believe, a Motley Fool article I found online.

Misconception No. 1: Most of what Americans spend their money on is made in China.

Fact: Just 2.7% of personal consumption expenditures go to Chinese-made goods and services. 88.5% of U.S. consumer spending is on American-made goods and services.

Misconception No. 2: We owe most of our debt to China.

Fact: China owns 7.6% of U.S. government debt outstanding.

Misconception No. 3: We get most of our oil from the Middle East.

Fact: Just 9.8% of oil consumed in the U.S. comes from the Middle East.

"People will generally accept facts as truth only if the facts agree with what they already believe," said Andy Rooney.

And, as I read comments on Huffington Post, I see that what Rooney says is very true: People tend to just flat-out refuse to believe something when it contradicts what they already believe or want to believe.