Monday, August 15, 2011
"The Great Santelli"
I was watching CNBC this morning. The panel of guests included the same cast of characters that show up to explain the financial crisis and what needs to be done to resolve it. These guests come with impressive resumes; graduate degrees from Yale Business School, Harvard Business School and the Wharton Business School. Joe the Plumber would call them "egg heads". Please note that these are the same people that didn't see the financial meltdown of 2008 coming.
So, as these "experts" sat around the desk this morning explaining what's wrong and how to fix it, you can't help but notice that you have heard the same tired worn platitudes last week and last month and last year. Their words are like cotton candy, with little substance to them.
Scene Two: Rick Santelli, manning the Chicago Trading floor, is asked to chime in with his opinion. Keep in mind that it was Rick Santelli's rant against big government, welfare give-aways and Obama's coddling of the mortgage foreclosure deadbeats who walked away from their debts that spurred the birth of the Tea Party!
Santelli this morning offered direct and concise advise on resolving our nation's financial crisis. He offered these two suggestions to spur business growth and create jobs as well as dealing with our national debt:
1) Repeal the restrictive Dodd-Frank financial regulation which is tieing the banks' hands in freeing up credit for business expansion.
2) Repeal Obamacare. This would immediately lift $16 trillion dollars in federal obligations over the next decade and assure businesses that they are not going to get burned with oppressive Obamacare costs and regulations.
So, after all the eggheads talked for over two hours....after the eggheads sat around skirting around the problem, and the resolution, The Great Santelli, Tea Bagger, offered the best advice for a recovery.