Let The Revolution Begin [Rick Santelli Rant Video]
Simpsons characters pictured in a mob revolt with tourches. Image Credit: The Simpsons
Let The Revolution Begin
It's ironic that Barack Obama, whose friends were disciples Saul Alinsky, an ardent social revolutionist, becomes president and sparks a revolution toward conservative American Values.
A revolt might be happening already and the signs of this revolt began yesterday. First in Arizona and Second on the floor of the stock exchange when a reporter for CNBC talked with people who work to invest money ... to make money for their clients and themselves.
The wake-up call is startling in that the mainstream media will not report the groundswell of reaction to the demonization of taxpaying, mortgage paying citizens who are cast a losers in this brand new Obamaworld ... Carter's Second Term.
Protests outside of Dobson Elementary School in Mesa, Arizona where President Barack Obama unveiled his mortgage bailout plan. Photo features "Swastika Guy" and "Hammer-and-Sickle Guy" in close proximity to Fox News contributor Michelle Malkin and Sen. Josh Penry. Image Credit: of ProgressNow Colorado
First, this excerpted and edited from the Arizona Republic -
Ask what the country CAN do for you
by E. J. Montini, The Arizona Republic - Feb. 19, 2009 12:00 AM
President Barack Obama came to ground zero in the foreclosure crisis on Wednesday and offered a mix of government assistance and personal responsibility.
To which a lot of folks in Arizona said: "Nice try, but we ain't buying it."
There's no need for a complicated analysis of Obama's speech.
We can sum up what the president said at Dobson High School in Mesa, as well as the reaction of many local residents, by using two quotes. The first is from Obama, the second from a reader of The Republic responding online to the president's remarks.
OBAMA: "So solving this crisis will require more than resources - it will require all of us to take responsibility.
"Government must take responsibility for setting rules of the road that are fair and fairly enforced.
"Banks and lenders must be held accountable for ending the practices that got us into this crisis in the first place.
"Individuals must take responsibility for their own actions.
"And all of us must learn to live within our means again."
READER: "What about stoops like me that still pay their payments on time and live within their means and didn't buy a pool or a Hummer? I deserve something, don't I?"
After all these years, we appear to have decided that John F. Kennedy was wrong and that we CAN ask what our country can do for us.
Or as another reader put it: "We should all just let our houses go and our jobs, then live off the government and let someone else pay for this turkey's 'stimulus'!"
Obama tried to make the case that we're in this mess together.
One man responding to a blog I wrote for azcentral.com said, "Let's get this country back on track and stop the government from trying to be everything to everybody. The Constitution only guarantees 'life, liberty and the PURSUIT of happiness.' "
Another added, "So let's see if I understand - all of us who pay our debts and taxes now get to fund the rescue of homeowners who are upside down. Ummm. I can see a tax revolt forming in the near future."
What might work is appealing to our self-interest.
CNBC's Rick Santelli, while broadcasting for “Squawk Box” on the floor of the Chicago Board of Trade, called for a referendum to see if we want to "subsidize losers' mortgages" or buy cars and houses in foreclosure and "give them to people who might actually prosper down the road." As traders cheered, he went on to say that we should "reward people that can carry the water instead of drink the water." [click-image to launch video] Image Credit: CNBC via lolfed.com
Second, this excerpted and edited from StreetInsider.com -
Rick Santelli - The Rant Heard 'Round the World'
February 19, 2009 12:24 PM EST
The rant heard 'round the world'. The Drudge Report is highlighting CNBC's Rick Santelli's rant on CNBC this morning ripping Obama's mortgage plan:
'The government is promoting bad behavior... do we really want to subsidize the losers' mortgages... This is America! How many of you people want to pay for your neighbor's mortgage? President Obama are you listening? How about we all stop paying our mortgage! It's a moral hazard'...
In this 44th Presidency of the United States, people who actually hold a long-term job, invest their money wisely, follow through with their monetary commitments are targeted and become losers (and those who behave in the opposite – Rewarded, with Government money transfer programs).
The economic model for all of this targeted upheaval is found in the principles of Keynesian Economics, a macroeconomic theory based on the ideas of 20th-century British economist John Maynard Keynes. The theory emphasizes the role of demand-side factors, as opposed to supply-side factors, in the determination of aggregate output.
In a nutshell, the value of money is placed not on wealth creation but dollar bill creation. The Government can choose to print the amount of money required to place the economy on a path that the Government feels is the correct path. This is as opposed to a free market determination which recognizes the free will of the consumer and the value of money that is placed in the popularity/supply of an item and the willingness for someone to pay the price someone else is willing to pay.
Even Vladimir Putin is warning the Obama Administration against the downside of a socialist economy stating that it was a “Five Year Plan” central planning Keynesian economic model that brought down the Russian Empire.
Image Credit: The Wall Street Journal Online
Putin Speaks at Davos
The Wall Street Journal - JANUARY 28, 2009, 2:29 P.M. ET
The following text is a transcript of Russian Prime Minister Vladimir Putin's speech at the opening ceremony of the World Economic Forum in Davos, Switzerland.
Good afternoon, colleagues, ladies and gentlemen,
Excessive intervention in economic activity and blind faith in the state's omnipotence is another possible mistake.
True, the state's increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent.
The concentration of surplus assets in the hands of the state is a negative aspect of anti-crisis measures in virtually every nation.
In the 20th century, the Soviet Union made the state's role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.
Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.
And one more point: anti-crisis measures should not escalate into financial populism and a refusal to implement responsible macroeconomic policies. The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.
Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable.
The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.
Karl Marx, Das Kapital, 1867
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Narita, Chiba, Japan