Remember When it Was Hip to be Prosperous
....And not cool to fail?
Now that it seems like everyone's in a race to the bottom of the food chain where the biggest victim is rewarded with the loser prize, I just want to remind people of how it started. The epic February 2009 rant by Rick Santelli on the CBOE floor is the best reminder of the end of a search for prosperity and the beginning of the easy gated slide to mediocrity.
Check out the video below of Rick Santelli explaining in plain English what the Obama administration did to our economy:
At about 1:25 the big word is used that started us on the socialist path we have narrowly avoided so far. That word: Moral Hazard. Learn it, look up examples in the past and learn how strong it is as a deterrent to growth.
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