Wednesday, February 25, 2009
Santelli's Tea Party
This story and video broke last week. It's been all over, and it's great. It's CNBC Business News Editor Rick Santelli's rant against the Pbama Administration's pathetic massive redistribution of wealth stimupork.
This past weekend, according to statistics from The McLaughlin Group, 91 percent of U.S. homeowners pay their mortgage on time. NBC News, over the weekend, said 92 percent of U.S. homeowner pay their mortgage on time. Santelli says the government is rewarding bad behavior. He is exactly right. Thus money in the stimupork and bailout is going for 8-9 percent of the nation's LOSERS and yes, that's LOSERS all in upper case. These LOSERS are the people who never could afford a home mortgage loan in the first place, but banks were pressured by the Clinton Administration to underwrite these loans. The other LOSERS are those who bought way more house than they could afford - the "let's flip this McMansion" crowd - believing that the housing value and resale price would continue climbing and climbing.
The reason Santelli's word stuck Pbama Cultists right in their black, bloodless, vile hearts is that he's right. He knows more in one fingernail about economics than the entire corrupt, tax-cheating Pbama Economic team.
Here's the video. It's magic, pure magic.
This past weekend, according to statistics from The McLaughlin Group, 91 percent of U.S. homeowners pay their mortgage on time. NBC News, over the weekend, said 92 percent of U.S. homeowner pay their mortgage on time. Santelli says the government is rewarding bad behavior. He is exactly right. Thus money in the stimupork and bailout is going for 8-9 percent of the nation's LOSERS and yes, that's LOSERS all in upper case. These LOSERS are the people who never could afford a home mortgage loan in the first place, but banks were pressured by the Clinton Administration to underwrite these loans. The other LOSERS are those who bought way more house than they could afford - the "let's flip this McMansion" crowd - believing that the housing value and resale price would continue climbing and climbing.
The reason Santelli's word stuck Pbama Cultists right in their black, bloodless, vile hearts is that he's right. He knows more in one fingernail about economics than the entire corrupt, tax-cheating Pbama Economic team.
Here's the video. It's magic, pure magic.
Labels: Pbama Stimupork, PbamaNomics, Rick Santelli, The Market
Comments:
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I would call Santelli a genius, but common sense isn't genius. I bet Santelli would agree with me. I will call Santellli brave though. I'm sure he saw what happened to Joe The Plumber when he questioned the Messiah. Santelli has my respect and he is correct. He is one of the better commentators on CNBC.
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