Oh how wonderful the Obama Economy.
Above is video of CNBC’s Rick Santelli reacting to the negative growth number for the U.S. Economy in the 4th Quarter of 2012, -0.1%. Santelli said:
“When you act like Europe, you get growth rates like Europe. Our discussions with economists sound like we’re in Europe. They’re always doing the right thing. They’re always thinking they know better, and this the kind of growth. We have become Europe. We are now Europe.”
Thanks to Barack Obama and the Democrats, that about sums it up.
CNBC: The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus.
The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That’s a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.
The surprise contraction could raise fears about the economy’s ability to handle tax increases that took effect in January and looming spending cuts. . . . Read More
Here is great video of CNBC’s Rick Santelli today illustrating just how laughable the “Fiscal Cliff” Deal being done really is when compared to the problem facing America. Santelli took a “pea” and smashed it with a hammer, saying that “pea” compared to the size of the Empire State Building as the National Debt is what Obama’s tax increase deal actually does to the debt. Nothing. He further warned to watch out for your “personal liberty” when leaders start talking about “fairness” and “balance” to cover their intentions.
Here is video of CNBC’s Rick Santelli going ballistic over the “Fiscal Cliff” fiasco. Santelli makes exactly the right point, that all the pathetic banter about a “deal” to avert the “Fiscal Cliff” is not even beginning to address the real “cliff” – the more than $16 Trillion National Debt and the $100 Trillion in “unfunded liabilities” facing the nation. Barack Obama has no intention of dealing with that because he wants to keep growing Government larger. Santelli says Obama, Congress, and Treasury Secretary Tim Geithner “don’t have a clue.”
Here is video of CNBC’s Rick Santelli yesterday slamming Barack Obama’s push for unlimited power to raise the debt-ceiling without any approval by Congress. Santelli said the Toy Story theme of “to infinity and beyond” describes Obama’s view of the debt-ceiling. He also said instead of the old movies titles “The Road to Morocco” “the Road to Singapore,” Obama has American on “the Road to the Weimar Republic” – a reference to the Government of Germany following World War I that preceded the rise of Adolph Hitler and the Nazis to power in 1933. The Weimar Republic was hit with hyperinflation as it tried to deal with rebuilding a devastated economy and the burden of War Reparations after losing World War I.
Here is video of CNBC’s Rick Santelli this morning having another epic meltdown after getting frustrated over the “Fiscal Cliff” discussion going on. Toward the end of the clip, Santelli throws his papers at the camera and walks off.
As only CNBC’s Rick Santelli can do it, he destroys Barack Obama’s claim to have created 5 million jobs during his term. Santelli points out that if you count “the plusses” AND “the minuses” – “It’s a push – zero.”
That pretty well describes the Presidency of Barack Obama.
Here’s video of CNBC’s Rick Santelli this morning, reacting to news the Unemployment Rate has dropped to 7.8% from 8.1% despite continued weak job growth. Santelli said, “I told you they’d get it under 8% — they did!”
Ed Morrissey at Hot Air has a great rundown on all the numbers:
Incredibly well said.
Here is CNBC’s Rick Santelli urging young people to “Wake Up” and stop voting for people who are destroying their economic future.
Here’s video of CNBC’s Rick Santelli supplying the internal number behind today’s drop in the U.S. Unemployment Rate to 8.3%.
Basically, 1.2 million people were dropped out of the system because they are no longer looking for work. They don’t get counted in the unemployment rate any longer. Santelli says:
“The labor force participation rate, if you look at non-seasonally adjusted, a fresh low going back to April of ’83. If you look at seasonally adjusted, a fresh low participation rate going back to December of ’81. What does that mean in English? Shrinkage. Shrinkage. 1.2 million people are now not considered unemployed anymore. They just have left the system. So, we need to concentrate on the internals. . . . “
The GOP Presidential Candidates will gather in Michigan tonight for a Presidential Debate on CNBC. The debate will be moderated by CNBC’s Maria Bartiromo and John Harwood. Other CNBC contributors will help with the questioning, including Jim Cramer and Rick Santelli. The debate will begin at 8:00 PM ET, on CNBC.
Herman Cain’s problems with harassment accusations are hanging over the debate, and even though this 90-minute debate will focus on the U.S. Economy, Cain’s situation very well may come up in some fashion.
Mitt Romney will be trying to come across as the most reasonable, most electable candidate to go up against Barack Obama. Rick Perry will trying to turn in a strong debate performance to leave viewers with the thought – “Maybe I should give him another look.”
Newt Gingrich comes into this debate as the candidate with real upward momentum. He will try to add to that by standing out as the most competent, most solutions-oriented candidate on the stage. Newt has done very well in the debates, but now must convince GOP voters he not only could be the nominee, but could actually defeat Barack Obama.
CNBC: The economy is supposed to be the focus when Republican presidential contenders share a debate stage for the first time since allegations of sexual impropriety rocked Republican Herman Cain’s presidential bid.
But as the candidates gather Wednesday night in ailing Michigan, Cain’s troubles are certain to loom large over the Oakland University debate hall, whether or not the rivals address the accusations directly during the two-hour face off.
With voting in the GOP nomination race set to begin in fewer than 60 days, Republican officials and presidential contenders alike are growing increasingly frustrated that the political conversation has been hijacked by the furor surrounding Cain.
“Only Herman Cain can address the issues before him. In the meantime it’s sucking all the oxygen out of the room, depriving the people of this country from a conversation about the issues that really do matter,” Republican contender and former Utah Gov. Jon Huntsman told The Associated Press Tuesday. “That’s the price we pay when these things happen.”
Like the rest of Cain’s opponents, Huntsman did not call for him to leave the presidential contest or rush to his defense, illustrating the sensitivity — and the unpredictability — of the escalating situation.
In a multi-candidate field, there’s no guarantee that one candidate’s demise will be any single candidate’s gain.
Even so, some of Cain rivals — namely fellow conservatives who are struggling to gain ground against better-known, better-funded rivals — sense an opportunity to steal support away from the former businessman should he implode after recently emerging as the strongest challenger to former Massachusetts Gov.Mitt Romney in some polls. . . . Read More
Here is video of Rick Santelli yesterday blasting his CNBC co-worker Steve Liesman for hyping the unemployment numbers that came out yesterday showing the rate had dropped to 9.0% despite the report also showing abysmal job creations of only 36,000 in January. That number was far below the 180,000 many experts had been expecting.
Santelli was the lone voice of reason no trying to hype the 9.0% that comes largely from many of the unemployed just giving up on looking for work.