Rick Santelli on Rush Limbaugh's Show

[stock777]

Where were you imbeciles when they were lending to the scum?

I'd have cut the bullshit off at the pass. Too bad I'm not the king. Now you have a queen.

Now you bend over liberal equal opportunity types have to spread a little wider.

Sad aint it.

Long K-Y Jelly (Bull Market coming)

Quote from Corelio:

Ok, if Santelli is insane, wrong or a bad trader like some have claimed...let's throw the question out there? Who in here is happy paying the mortgage of others that flat out lied on their mortgage applications, bought more house beyond their means, or that refinanced with one of those ARM mortgages to put a pool on their backyard?

The bottom line here is that we are undoubtedly creating the biggest moral hazard of a generation. There is no such thing as a free lunch folks. We cannot print our way out to prosperity... at one point in time we will be forced to swallow the nasty pill.

 

[ess1096]

Rush will be talking about Santelli's Chicago Tea Party again in the next hour. 2:00-3:00 eastern 2/20.

 

[IanMacQuaide]

Quote from Angrycat:

Can they, Landis? Is that really in their power? That's a rhetorical question. It isn't in their power and it has never been in government's power.



505% here and 5.5% there and pretty soon you're talking real numbers. The problem is that if you commit future production to today's spending, nobody will want to produce because it'll increasingly be confiscated for taxes (either income, wealth or inflation). So, GDP will fall and suddenly, something that was 5.5% of GDP becomes 11% of GDP. See, the denominator can change too.



The market is not the economy (Ben Bernanke finally cottoned on to that). The market cares mostly about one thing right now: how much wealth will congress transfer from taxpayers to shareholders?

I very much agree, but think you left out a taxable category.
Our assets.
Houses, boats, motorcycles, cars, guns, stamp collections..etc.