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
The Obama Economy – U.S. Economy Shrank in Q4 2012; CNBC’s Rick Santelli Says, “When You Act like Europe, You Get Growth Rates like Europe. . . We have become Europe. We are Now Europe” – Video 1/30/13
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.
CNBC’s Rick Santelli Smashes Obama’s “Pea”-Sized Effort at Tackling the Massive Debt Problem Facing America; Warns Look Out for Your “Personal Liberty” when Leaders start Talking “Fairness” and “Balance” – Video 12/31/12
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.”
CNBC’s Rick Santelli Goes Ballistic on the “Fiscal Cliff”; Says Obama, Congress, Geithner Don’t “Have a Clue” about the Real Debt Disaster Facing the Nation – Video 12/28/12
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.
CNBC’s Rick Santelli: Obama’s View of the Debt-Ceiling is “to Infinity and Beyond”; Says Obama has U.S. on “the Road to the Weimar Republic” – Video 12/6/12
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.
CNBC’s Rick Santelli Throws Papers at Camera and Walks Off out of Frustration over “Fiscal Cliff” Discussion: “I Can’t Even Talk About it Anymore” – Video 11/30/12
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.
CNBC’s Rick Santelli Sets the Record Straight on Obama’s Jobs Claim: “Zero” – Video 10/19/12
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:
@chriscuomo @rickklein I’ve charted the U-6 number since January 2006 in an update to underscore Chris’ point hotair.com/archives/2012/…
— EdMorrissey (@EdMorrissey) October 5, 2012
CNBC’s Rick Santelli Questions Drop in Unemployment Rate to 7.8%: “I Told You They’d Get it Under 8%. They Did!” – Video 10/5/12
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.
CNBC’s Rick Santelli Advises Young Voters to “Wake Up” and Stop Voting for People who are Ruining their Economic Future – Video 5/8/12
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. . . . “
Rick Santelli Explains a Key Number Behind the Lower 8.3% U.S. Unemployment Rate: “Shrinkage” – Video 2/3/12
Here is great video of Rick Santelli on CNBC challenging liberal New York Times columnist Thomas Freidman about whether or not Social Security can be described as a “Ponzi Scheme,” “Pyramid Scheme,” etc. Friedman, of couse, would have none of it, just dismissing Santelli as asking “a stupid question.” But he really could not answer the basic question asked by Santelli:
SANTELLI: Earlier in the show you said that we’re putting the burden on our kids that’s unsustainable. What’s the definition of a Ponzi scheme?FRIEDMAN: It’s a program that made promises that it cannot keep in full and it needs to be fixed and reformed.
SANTELLI: Isn’t that exactly what a Ponzi pyramid is?
FRIEDMAN: I don’t think it is a Ponzi scheme as a criminal endeavor.
SANTELLI: No, no – forget the criminal side. You need more people to perpetuate a myth because if the people stop the myth is known to all. That’s my definition of a Ponzi scheme. Let’s call at it chain letter, a pyramid scheme. Isn’t that by definition what Social Security is? Take the legalities and fraud out.
Ed Morrissey at Hot Air does a great job of pointing out that what Perry said last night is really little different than others have been saying for some time. He assured current seniors, or those close to retirement, that no changes would be made to their benefits. But for younger workers, the blunt language used by Perry describes the reality of their situation. It’s time to change the system for younger workers so they don’t get ripped off.
CNBC’s Rick Santelli Asks Liberal NYT Columnist Thomas Freidman if Social Security is a “Ponzi Scheme” – Video 9/8/11
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.
Via Business & Media Institute
