Greed and Prudence

When you consider the recent recession, the one that seems to be ending, the ultimate cause was clearly the overall greed culture.

Greed became the predominant characteristic of our society as everyone felt that they could get rich and disregarded the risk of their actions.

Now this was almost universal as bankers created very risky derivatives and other investments and consumers ran up debt based on the belief that the house they owned would somehow pay it all back.

This greed is a fundamental characteristic of human nature and it certainly still exists, and would be the fundamental reason that the economic recovery could be jeopardised.

Now, things are starting to get better, but they aren't "better" yet, and we have to be careful in how we individually and collectively approach the next few months.

The main danger would be for greed to regain momentum and lead to practices that bring our last President's middle initial into play, the great W recession.

Prudence is our weapon, we need to use it.