Go Rick Santelli! - Nubblies.net Forums

Ugly Bastard · 02-19-2009, 01:47 PM

CNBC anchor Rick Santelli spazzed out on the Chicago trading floor today and went on a big rant against the Obama "stimulus" package. It was pretty awesome.

Video - CNBC.com

f3lix · 02-19-2009, 02:26 PM

Good find

Ugly Bastard · 02-19-2009, 05:27 PM

Guys this can just get sooo much worse from here. There are scenarios where discretionary businesses start going under (think: Vegas, Saks Fifth Avenue, high-end eateries) leading to a spike in unemployment. The "stimulus" plan is just going to bury us further into debt at a time where there are less taxpayers ('cause no one has a job) meaning the government doesn't have revenue to pay that stuff back. Now imagine in the midst of all this some country in the Middle East decides to get cute and amp up the hostility against us and suddenly we need to come up with a trillion for some war?!

S&P at 450, Dow at 5,000, unemployment at 15%, and America engaged in a war on limited resources is not off the table here everyone. Where we're at now could seem like a pretty sweet deal some day if the bottom is as deep as I think it might be.

Mr. Blonde · 02-19-2009, 05:41 PM

Quote:

Originally Posted by Ugly Bastard

Where we're at now could seem like a pretty sweet deal some day if the bottom is as deep as I think it might be.

Explain further plz

Ugly Bastard · 02-19-2009, 05:43 PM

People are still doing stuff now. Most people still have jobs. People are still making discretionary purchases. Places like strip clubs and steakhouses and nightclubs haven't had to close their doors. What I'm saying is: I think things can get bad enough that places like that have to shut down since no one is going to be making such extravagant discretionary purchases. I'm saying that this could get as bad or worse than the Great Depression. That's not off the table, so don't take anything for granted right now.

Ugly Bastard · 02-19-2009, 05:52 PM

Businesses will start firing the fat too. All these dumb girls and yuppies who voted for Obama and do no work (think: Repug if he actually had a job... shit... come to think of it he does, right?) are going to be kicked to the curb once these business owners realize they're losing money and paying people way too much to do almost nothing.

I have a female friend that is a tax attorney for Exxon. She's on salary for $120k a year and does almost no work and doesn't even understand what a corporate tax rate is! White collar labor is a huge bubble in this country. Eventually businesses will realize this and that bubble will pop. Businesses will have to realize this: they're doing so poorly that they're going to have to start looking inward for ways to cut out all the excess spending.

Speaking of excess spending, the Democrats that the Repugs of the world so gleefully elected last fall are fucking us cold in the ass as we speak. These people have zero concept of economics. They think private businesses are evil and should be taxed to death. If the government's revenue problems aren't already bad enough, wait until companies like the one I work for, whose holdings are all information (and thus highly movable), decide they'd rather pay 12% tax in Ireland than 39% tax here to a government that thinks they're entitled to such a fat helping of our earnings.

America is fucked, fucked, fucked, fucked, fucked. I would say you heard it here first, but credit to GWB. He's been saying it for a long time now.

BigDongedHoe · 02-19-2009, 05:54 PM

Quote:

Originally Posted by Ugly Bastard

People are still doing stuff now. Most people still have jobs. People are still making discretionary purchases. Places like strip clubs and steakhouses and nightclubs haven't had to close their doors. What I'm saying is: I think things can get bad enough that places like that have to shut down since no one is going to be making such extravagant discretionary purchases. I'm saying that this could get as bad or worse than the Great Depression. That's not off the table, so don't take anything for granted right now.

Agree and Disagree... while middle class undoubtedly will be spending much less, the majority of people that can afford a nice steak dinner today are still going to be able to afford a nice steak dinner later.

My parents fall in the middle class that is cutting back. They've sold their place in Florida, cut back on monthly expenditures, and stopped going to places they used to frequent (nicer dinners, etc.) The economy has affected my dad's business as a dentist, his numbers are just over half of what they usually are.

Mr. Blonde · 02-19-2009, 05:55 PM

Uh...i'm doing fine. Then again, I don't really OWN anything, including house, property, car (just sold it), or stocks(starting to get into it). I'm also quitting my job of my own accord, but only because I hate it a lot and have another lined up. How is this affecting everybody else? I know DDtempest is hurting, how about the rest of you?

angry pancake · 02-19-2009, 05:56 PM

Ugly Bastard · 02-19-2009, 06:03 PM

Quote:

Originally Posted by BigDongedHoe

Agree and Disagree... while middle class undoubtedly will be spending much less, the majority of people that can afford a nice steak dinner today are still going to be able to afford a nice steak dinner later.

This is classic "put rich people on a pedastal" logic as if they're some mystical creatures that exist away from our sight (ie: "those rich people out there will always be able to buy stuff"!).

WRONG!

Guess what, BDH? These "rich" people have gotten decimated. Many of them are going bankrupt. There are far fewer "rich" people now than there were two years ago. These people are losing money hand over fist, more than any group out there. Many of them don't know when the bleeding will stop and are cutting back drastically on their spending. Their cash flow is being decimated and their businesses are being crippled. Who do you think owns the steak house?!? He doesn't make any money off of serving himself a meal. He needs the middle class like your parents to come eat in his restaurant, and they won't be!

This is a deflationary spiral that is being worsened by our government's economic policy. There is no one unaffected by this. Even the "rich" that you reference are being hurt.

TwoBlackEyes · 02-19-2009, 06:03 PM

Quote:

Originally Posted by Mr. Blonde

Uh...i'm doing fine. Then again, I don't really OWN anything, including house, property, car (just sold it), or stocks(starting to get into it). How is this affecting everybody else? I know DDtempest is hurting, how about the rest of you?

It's not. Just bought a house with 30% down and my 15-year mortgage payment is less than one bedroom apartment rents in the area. We have investments, but they're all long term so temporary setbacks aren't an issue. We're still pumping money into the market, cause stocks are on SALE. We paid cash for our cars and they're fine. We have no debt other than the mortgage, and we hope to have that mortgage paid off in 3-5 years.

Basically, we made all of our money decisions as though we had to live on the smaller of our two salaries (mine) so even if one of us gets laid off, we're fine. We have enough liquid assets to live for at least a year before we have to touch investments, so we'd be able to make it for a while on no income at all.

But, then again, I'm a good enough cook that we don't bother going out to eat most nights anyway.

Ugly Bastard · 02-19-2009, 06:05 PM

Holy god damn! It almost sounds like TBE is... what do you call it... "responsiliberatal"? Something like that. It's a word that isn't often used anymore, so I don't remember exactly what it is.

Ugly Bastard · 02-19-2009, 06:11 PM

Whether it wants to or not, this whole country is going to have to throttle back. Everything at the top of the pyramid is going to need to go extinct before we reach the bottom of this thing. The "$30k Millionaire" douchebag and all of his appetites are exactly what I'm talking about. All of those who are "entitled to extravagance" despite hardly deserving a taste of it are just a giant bubble waiting to pop. The biggest LOL to me is when I see women complaining about how they're sick of everyone using "the recession" as an excuse. It's like, you're the easiest discretionary spending of all to erase right now!! Like hell I'm buying some spoiled whore a Coach purse right now*.

*Note: I would never do this anyway.

TwoBlackEyes · 02-19-2009, 06:12 PM

Quote:

Originally Posted by Ugly Bastard

Holy god damn! It almost sounds like TBE is... what do you call it... "responsiliberatal"? Something like that. It's a word that isn't often used anymore, so I don't remember exactly what it is.

I think you would be shocked to find out just how many of my dirty hippy liberal friends are just like me. Most of us have high-paying jobs so we're in a high tax bracket but we're responsible with our money.

Every SUV-owning, McMansion-buying, ARM-mortgaging $30k-millionaire I know is a Republican, oddly enough.

Ugly Bastard · 02-19-2009, 06:14 PM

Quote:

Originally Posted by TwoBlackEyes

my dirty hippy liberal friends are just like me. Most of us have high-paying jobs so we're in a high tax bracket but we're responsible with our money.

Yup. And most of you are way overpaid and expendable as shit to your employers. The firings be on their way!

TwoBlackEyes · 02-19-2009, 06:17 PM

Quote:

Originally Posted by Ugly Bastard

Yup. And most of you are way overpaid and expendable as shit to your employers. The firings be on their way!

Actually, both of our companies have done layoffs recently and we both were fine. The husband might lose his eventually, but he gets job offers every day because he has a very marketable skill set and highly-sought-after degrees.

My department is actually hiring right now because we're so busy.

The Republicans I know, however, are mostly in sales and other similar positions. They're screwed.

Ugly Bastard · 02-19-2009, 06:18 PM

Well my argument might be invalid in your isolated instance (and I might add, good for you!). But you back up my point here:

Quote:

Originally Posted by TwoBlackEyes

Actually, both of our companies have done layoffs recently.

I'm saying stuff like this is only going to get worse. Any businesses reliant on high-end discretionary purchases are fucked.

Ugly Bastard · 02-19-2009, 06:22 PM

An example of how people have voted for their own demise is my friend I referenced earlier, the one who is a tax lawyer for ExxonMobile.

Exxon is getting killed right now: the price of oil has dropped significantly and Obama is working on closing tax loopholes which will devalue their company significantly. In the midst of this, she's collecting a $120k a year salary for very little work and then has the nerve to vote for Obama. These people are just clueless. I don't think they mean poorly, I just think they're stupid. It's like your Dad giving you an allowance way bigger than you deserve, and then you voting for the guy that is going to greatly reduce your Dad's income.

For her sake, I hope Exxon is just too god damned big to zoom in their introspective scope all the way down to her level. It's such an easy expenditure to erase for them.

White. Collar. Labor. Yuppie. Bubble.

TwoBlackEyes · 02-19-2009, 06:26 PM

Quote:

Originally Posted by Ugly Bastard

An example of how people have voted for their own demise is my friend I referenced earlier, the one who is a tax lawyer for ExxonMobile.

Exxon is getting killed right now: the price of oil has dropped significantly and Obama is working on closing tax loopholes which will devalue their company significantly.

I think they'll make it. They might not make the record-breaking profits that they have posted under Bush, but not making BILLIONS in pure profit doesn't equal "getting killed"

Ugly Bastard · 02-19-2009, 06:37 PM

Quote:

Originally Posted by TwoBlackEyes

I think they'll make it. They might not make the record-breaking profits that they have posted under Bush, but not making BILLIONS in pure profit doesn't equal "getting killed"

This is exactly the kind of anti-business rhetoric that is burying our country. The irony is, the government is basically just a giant business that sucks!

So it's like: you're against businesses that are good, add value to the world, and therefore make a profit. But you're for a business that utilizes highly inefficient spending and makes the quality of life in our country worse.

God people are so stupid.

Mr. Blonde · 02-19-2009, 06:38 PM

This is how rom-coms start out.

Ugly Bastard · 02-19-2009, 06:40 PM

I'll also point out that Obama lost by SIXTEEN percentage points amongst white males. Some dumb girl I know was like "yea and look where they've gotten us!"

It's like.. EXACTLY! Look where they've gotten us! The most prosperous nation in the world is all! But not any longer.

TwoBlackEyes · 02-19-2009, 06:43 PM

Quote:

Originally Posted by Ugly Bastard

This is exactly the kind of anti-business rhetoric that is burying our country. The irony is, the government is basically just a giant business that sucks!

So it's like: you're against businesses that are good, add value to the world, and therefore make a profit. But you're for a business that utilizes highly inefficient spending and makes the quality of life in our country worse.

God people are so stupid.

I've got nothing against businesses.

But I do believe in allowing the free market to correct itself. If you can't manage to run your business successfully without record-high oil prices and through cheating on your taxes, you deserve to go under. If there is demand in the market, someone will step in to fill Exxon's shoes.

Closing tax loopholes isn't anti-business. It simply levels the playing field for startups that might not have access to those same loopholes.

I have nothing against stores like Wal-Mart, but I do believe that corporations, just like people, should be required to play by the rules.

Ugly Bastard · 02-19-2009, 06:46 PM

Quote:

Originally Posted by TwoBlackEyes

someone will step in to fill Exxon's shoes.

Closing tax loopholes isn't anti-business. It simply levels the playing field for startups that might not have access to those same loopholes.

LOL at a start-up "stepping in to fill Exxon's shoes". You do know Exxon is a $360,000,000,000 company, right?

Haha... startup... good god that was funny...

TwoBlackEyes · 02-19-2009, 06:47 PM

Quote:

Originally Posted by Ugly Bastard

I'll also point out that Obama lost by SIXTEEN percentage points amongst white males. Some dumb girl I know was like "yea and look where they've gotten us!"

Then you should also point out that McCain lost by 18% among those with advanced degrees.

And lord knows that no PHds or MDs or JDs have ever gotten us anything in this country.

02-19-2009, 01:47 PM	#1 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	Go Rick Santelli! CNBC anchor Rick Santelli spazzed out on the Chicago trading floor today and went on a big rant against the Obama "stimulus" package. It was pretty awesome. Video - CNBC.com

02-19-2009, 05:52 PM	#6 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	Businesses will start firing the fat too. All these dumb girls and yuppies who voted for Obama and do no work (think: Repug if he actually had a job... shit... come to think of it he does, right?) are going to be kicked to the curb once these business owners realize they're losing money and paying people way too much to do almost nothing. I have a female friend that is a tax attorney for Exxon. She's on salary for $120k a year and does almost no work and doesn't even understand what a corporate tax rate is! White collar labor is a huge bubble in this country. Eventually businesses will realize this and that bubble will pop. Businesses will have to realize this: they're doing so poorly that they're going to have to start looking inward for ways to cut out all the excess spending. Speaking of excess spending, the Democrats that the Repugs of the world so gleefully elected last fall are fucking us cold in the ass as we speak. These people have zero concept of economics. They think private businesses are evil and should be taxed to death. If the government's revenue problems aren't already bad enough, wait until companies like the one I work for, whose holdings are all information (and thus highly movable), decide they'd rather pay 12% tax in Ireland than 39% tax here to a government that thinks they're entitled to such a fat helping of our earnings. America is fucked, fucked, fucked, fucked, fucked. I would say you heard it here first, but credit to GWB. He's been saying it for a long time now.
	Last edited by Ugly Bastard; 02-19-2009 at 05:55 PM.

02-19-2009, 05:55 PM	#8 (permalink)
Mr. Blonde Spice Master Join Date: Jan 2004 Posts: 17,969 Internets: 284106	Uh...i'm doing fine. Then again, I don't really OWN anything, including house, property, car (just sold it), or stocks(starting to get into it). I'm also quitting my job of my own accord, but only because I hate it a lot and have another lined up. How is this affecting everybody else? I know DDtempest is hurting, how about the rest of you?
	Last edited by Mr. Blonde; 02-19-2009 at 06:04 PM.

02-19-2009, 06:22 PM	#18 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	An example of how people have voted for their own demise is my friend I referenced earlier, the one who is a tax lawyer for ExxonMobile. Exxon is getting killed right now: the price of oil has dropped significantly and Obama is working on closing tax loopholes which will devalue their company significantly. In the midst of this, she's collecting a $120k a year salary for very little work and then has the nerve to vote for Obama. These people are just clueless. I don't think they mean poorly, I just think they're stupid. It's like your Dad giving you an allowance way bigger than you deserve, and then you voting for the guy that is going to greatly reduce your Dad's income. For her sake, I hope Exxon is just too god damned big to zoom in their introspective scope all the way down to her level. It's such an easy expenditure to erase for them. White. Collar. Labor. Yuppie. Bubble.
	Last edited by Ugly Bastard; 02-19-2009 at 06:24 PM.

02-19-2009, 02:26 PM	#2 (permalink)
f3lix Gangnam Style Join Date: Oct 2003 Location: DH's Massage Parlor Posts: 6,383 Internets: 213510	Good find

02-19-2009, 05:27 PM	#3 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	Guys this can just get sooo much worse from here. There are scenarios where discretionary businesses start going under (think: Vegas, Saks Fifth Avenue, high-end eateries) leading to a spike in unemployment. The "stimulus" plan is just going to bury us further into debt at a time where there are less taxpayers ('cause no one has a job) meaning the government doesn't have revenue to pay that stuff back. Now imagine in the midst of all this some country in the Middle East decides to get cute and amp up the hostility against us and suddenly we need to come up with a trillion for some war?! S&P at 450, Dow at 5,000, unemployment at 15%, and America engaged in a war on limited resources is not off the table here everyone. Where we're at now could seem like a pretty sweet deal some day if the bottom is as deep as I think it might be.

02-19-2009, 05:43 PM	#5 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	People are still doing stuff now. Most people still have jobs. People are still making discretionary purchases. Places like strip clubs and steakhouses and nightclubs haven't had to close their doors. What I'm saying is: I think things can get bad enough that places like that have to shut down since no one is going to be making such extravagant discretionary purchases. I'm saying that this could get as bad or worse than the Great Depression. That's not off the table, so don't take anything for granted right now.

02-19-2009, 06:05 PM	#12 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	Holy god damn! It almost sounds like TBE is... what do you call it... "responsiliberatal"? Something like that. It's a word that isn't often used anymore, so I don't remember exactly what it is.

02-19-2009, 06:11 PM	#13 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	Whether it wants to or not, this whole country is going to have to throttle back. Everything at the top of the pyramid is going to need to go extinct before we reach the bottom of this thing. The "$30k Millionaire" douchebag and all of his appetites are exactly what I'm talking about. All of those who are "entitled to extravagance" despite hardly deserving a taste of it are just a giant bubble waiting to pop. The biggest LOL to me is when I see women complaining about how they're sick of everyone using "the recession" as an excuse. It's like, you're the easiest discretionary spending of all to erase right now!! Like hell I'm buying some spoiled whore a Coach purse right now. Note: I would never do this anyway.

02-19-2009, 06:38 PM	#21 (permalink)
Mr. Blonde Spice Master Join Date: Jan 2004 Posts: 17,969 Internets: 284106	This is how rom-coms start out.

02-19-2009, 06:40 PM	#22 (permalink)
Ugly Bastard Senior Member Join Date: Feb 2002 Location: U.S.A. Posts: 13,643 Internets: 247330	I'll also point out that Obama lost by SIXTEEN percentage points amongst white males. Some dumb girl I know was like "yea and look where they've gotten us!" It's like.. EXACTLY! Look where they've gotten us! The most prosperous nation in the world is all! But not any longer.