Santelli pulls a Cramer

[DJofSD]

Rick Santelli comes pretty close to a Jim Cramer redux. Watch it here. (http://blog.heritage.org/2012/04/11/video-santelli-speaks-the-truth-on-obamas-buffett-rule/)

[Valuist]

Great line by Santelli tonight on Larry Kudlow's show. "We have an A-Rod economy now". Take away the juice (QE) and you'd have 401 (k)s and IRAs back at early 2009 levels.

[Clocker]

He is preaching to the choir. The low information voters and the Kool-Aid drinkers turn on the TV and see Obama saying that we don't have a spending problem and everything will be fine if the millionaires and billionaires just pay a little bit more. So they switch the channel back to some reality show that has no more basis in reality than Obama's speeches.

The only short-term hope is that people like him can get the choirs they are preaching to riled up enough to throw out some of the bums in 2014.

[thaskalos]

He is preaching to the choir. The low information voters and the Kool-Aid drinkers turn on the TV and see Obama saying that we don't have a spending problem and everything will be fine if the millionaires and billionaires just pay a little bit more. So they switch the channel back to some reality show that has no more basis in reality than Obama's speeches.

The only short-term hope is that people like him can get the choirs they are preaching to riled up enough to throw out some of the bums in 2014.
Hey, Clocker...

Not that I disagree with what you say...but your writing style is vaguely familiar to me.

Are you sure we haven't seen your postings before under a different name? :)

[Robert Goren]

The same Rick Santelli that predicted we would have runaway inflation by now ever since Obama became president. I wish somebody would check his record, I have a feeling he is almost aways wrong because I can't remember him ever being right about what is going to happen 2+ years down the line.

[Clocker]

Are you sure we haven't seen your postings before under a different name? :)

Not guilty.;)

I have been away from handicapping for a long time, and this is the first time I have ever registered on any horse racing forum.

[Valuist]

The same Rick Santelli that predicted we would have runaway inflation by now ever since Obama became president. I wish somebody would check his record, I have a feeling he is almost aways wrong because I can't remember him ever being right about what is going to happen 2+ years down the line.

Santelli never specified a date. We've never had money printing on this scale before. It could be another year or even two before inflation really sets in hard. Guys like Fleckenstein and Schiff are calling for big time inflation as well. They were right about the dot.com nonsense and they were right about the housing bubble. Both were a bit early but they were proven right. And they will be proven right again.

As long as the government doesn't count food and energy in the inflation numbers, you won't get a realistic number. Check out oil; in early 2009 it was around $40/barrel. Now its over $100. Go to the store. Are you paying the same for groceries that you did 4 years ago? Only if you are on a severe diet.

[lamboguy]

i am not referring to Rick, but i watch financial television all the time, they have guests on that all sound the same and seem to be clueless in what they are saying. i think most horse race analyst's have a better handle of things then these guys.

Rick speaks from his heart. he's not a bad guy, i got to meet him once in a gold show.

[Robert Goren]

Santelli never specified a date. We've never had money printing on this scale before. It could be another year or even two before inflation really sets in hard. Guys like Fleckenstein and Schiff are calling for big time inflation as well. They were right about the dot.com nonsense and they were right about the housing bubble. Both were a bit early but they were proven right. And they will be proven right again.

As long as the government doesn't count food and energy in the inflation numbers, you won't get a realistic number. Check out oil; in early 2009 it was around $40/barrel. Now its over $100. Go to the store. Are you paying the same for groceries that you did 4 years ago? Only if you are on a severe diet.In summer of 2008 oil was $140 a barrel, pre banking collapse/ recession. It is not fair to compare prices in depth recession. Compare them to pre-recession in the spring and summer of 2008.

[Clocker]

Santelli never specified a date. We've never had money printing on this scale before. It could be another year or even two before inflation really sets in hard. Guys like Fleckenstein and Schiff are calling for big time inflation as well. They were right about the dot.com nonsense and they were right about the housing bubble. Both were a bit early but they were proven right. And they will be proven right again.



Anyone that says we aren't experiencing inflation hasn't been to the grocery store recently.

Despite the great potential for inflation as a result of QE XXX, there have not been wide spread price increases in all sectors because all that new money is not being spent. Banks are not lending it and businesses are not spending it for expansion and job creation. Creating money does not cause inflation, spending it does. The reason it is not being spent is uncertainty. Banks don't want to lend money because they can't get interest rates high enough to cover the level of risk they see in the economy. Businesses do not want to borrow or spend cash reserves because of uncertainty about costs, especially the costs imposed by the government through ObamaCare, EPA regulations, Dodd-Frank regulations, etc.

So if the banks won't lend and businesses won't invest, where is all the QE money going? Into the stock market. Fundamentals don't justify the run up in stocks recently. So high stocks prices represent inflation in the market, a bubble.