Rick Santelli - The Silent Majority

I watched this on CNBC yesterday morning and Rick hit the nail on the head with this. I know I'm Canadian but I've always admired the US capitalist system to reward hard work and smart decisions.

Three years ago I was ready to make the jump into home ownership, not because I wanted to make a buck on my home but to live in and invest in myself. I watched many friends jump into houses they couldn't afford simply because they wanted to get in on the wave. People then started using their homes as ATM's and are now getting burned, yet it's my tax dollars that they are asking for to help them out.

I ended up not buying a home because the prices were inflated and I couldn't afford it. So I kept renting. Now our government is wasting money on stimulus packages that won't do anything and I'll end up paying higher taxes, preventing me from likely owning my own home in the future.

If someone wants to put up money for a home there is an inherent risk factor that it will go down and not up. That's the risk you take and if you bet wrong, that's tough and hopefully you learned from your mistake.

Getting the people who didn't drink the coolaid to pay for those who did is perverse and wrong and as long as this continues we are doomed to wallow in recession for years to come. Enjoy the rant. I did!