I’m not sure how this guy is going to keep his job after what went on today. Mocking the all-important stimulus package on a cable network not named FOX?
Rick Santelli is his name, and in many respects he’s exactly correct. Why should I, a guy who’s played by the rules and financed my home in a prudent manner, be the one who’s left holding the bag?
It’s especially true now that I’ve gone into business for myself. If I succeed to any reasonable degree (which I have confidence that I will) all that may get me is a higher tax bracket. Is that the American Way?
We have tried three different styles and types of stimulus packages now – first direct payments to the taxpayers, next bailing out the banks to create more credit, and now the Keynesian spending of government money to prime the economy. You can see on the bottom of the video in the occasional scroll that the markets REALLY love this – otherwise would they be scraping the bottom of the barrel at levels unseen in several years? And it’s funny that no one is blaming Presidential policies for the market tanking.
What do we do next if this latest stimulus doesn’t work? Will there be any businesses left to create jobs? I don’t want to find out but I’m afraid I will.