CNBC Host calls for revolution (tea party), mocks Obama plan

CNBC Host calls for revolution (tea party), mocks Obama plan

www.cnbc.com

'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'...

Calls for new 'tea party'

(visit the link for the full news article)

People are starting to crack. You can see the beginnings of what Celente and Schiff are predicting in terms of revolts against the gov't.

This is the classic problem of huge portions of the population feeling set upon without presentation. The responsible are feeling that they are being forced to foot the bill for others' mistakes.

www.cnbc.com
(visit the link for the full news article)

I'm a Canadian..
so I shouldn't say # but..

WHAT DO YOU EXPECT THEM, him, TO DO???

Sh*t is crashing hard and fast..
Don't put this, fake, money into the housing market and credit markets won't unfreeze and no one gets a house then. You hear me? NO ONE!!

Let the auto makers all merge, make electric cars..
Screw giving them a bailout!

Sell EVERYTHING dirt cheap, let them run the cars into the ground, save and go buy their new electric cars in 5-7 years.



/rant

Why bother... i wouldnt buy a car form a corrupt company like GM. HBO documentary, whol killed the electric car..GM back in 1998 made a few eelctric cars, it seems only available to wealthy people. Around the year 2000, GM bought back thsoe cars, and some guy reporting in a helicoptor in new mexico, saw what GM did to those futuristic eelctric cars...they wre destroyed: ( Eff them, let them fail, thay have screwed thier future and ours.

Like I said on the duplicate thread:

It's easy for these guys to get all 'moral hazzard' AFTER the government came in and bailed out their markets a few times. Had they not been bailed-out, these holier-than-thou traders would be on the same scrap heap as the auto workers and demanding foreclosure protection themselves. What a crock. Wall Street created this mess with their CDS's and nefarious other products, these clowns sold them with abandon and NOW they're getting all up on their moral high-horse. What near-sighted maroons.

reply to post by johnny2127


It was a trader from the video link up who made that comment, i love it when MSM toss pots lay claim to the intelectual comments made by "joe the plumper" people.

Clip is on this page, its the dude sat infront and to the side of the reporter at the stock exchange.

CNBC

Sourced from this ATS thread:

Wall Street Revolution "video"

50+ seconds - reporter

...reward people that can carry the water, instead of drink the water...

1:20+ seconds - trader

...how about we all stop paying our mortgage, its a moral hazzard...

[edit on 19/2/2009 by phushion]

reply to post by jtma508


Forget about the bailouts the bailouts were wrong, and so is this.

Two wrongs don't make a right. This move of bailing out homeowners that bought houses beyond their means is really pushing the line and ticking off a lot of people. If you don't remember that almost everybody was against the bailout of the banks.

The spending bill was shoved down our throats, and it is looking like this is going to get shoved down our throats.

If they do this and it passes this will inevitably lead to nationalization of the banks. There is a whole host of unforeseen consequences with this move. And personally I feel the government already knows to much about my private life that they should have no business knowing in the first place, the last thing I want is to give the government legal authority and power to decide who gets a loan and who doesn't.

The reality of it is not that people have bought homes that they cant afford or dont have enough money to pay their bills, people have been laid off, had pay cut, hours dropped which has resulted in a lack of finances to make the payments that they had commited them selves to months, years, even decades before, a great proportion of people here in the UK and the US were already on the bread line to start with and the bastard bankers and bonusees the clown corporate wankers slit the wrists of those people through the financial crisis that they created.

The grander plans to get rid of the three class system, leaving just the RICH and the poor, welcome to the end of the start of the beginning of the end of our current ways of life...

[edit on 19/2/2009 by phushion]

Let the "Tea Party" begin...

reply to post by MOFreemason


The "Tea Partys" over, there breaking out the "After 8 Mints" now, and we aint getting one...

Second line, second time...

[edit on 19/2/2009 by phushion]

Like phushion said. This isn't about bailing out people who bought houses they can't afford. The ENTIRE subprime mess (that some neanderthals believe is the cause of this whole mess) totals around $75B. That's it. Nothing to sneeze at to be sure but not even a pimple on the butt of the Wall Street bailout.

Lots of people who have owned their homes for a long while have been laid-off, their investments have shrunk to nothing, their home equity credit lines have been frozen and they are at-risk of losing their homes. This CNBC bloated buffoon wants to cry 'moral hazzard' because now these folks can't sell and will lose their homes? They should have 'known' 10yrs ago when they bought it that the entire economy would melt down? What a crock of dog soft-serve.

How about the government did nothing and Morgan Stanley, Goldman Sachs, Lehman, AIG and all the others just defaulted and went belly-up? Hundreds-of-billions in credit default swaps are just allowed to default. That video would be a solid black square. None of those a'holes would even be there to make their 'let-them-eat-cake' comments.

reply to post by xbranscombex


No, your opinion is still valid regardless of nationality. The US and Canadian economies are very much intertwined, what the US does economically directly affects Canada, and what Canada does directly affects the US.

I have a similar understanding that pumping funds that previously did not exist into a failing economy is rather absurd.

I like to describe it as a fleet of ships (companies), some of them with huge holes sinking fast. What they're doing is grabbing the resources from all the other perfectly fine ships to desperately try to bail out the sinking ships without patching their holes.
It doesn't matter how fast you bail them out, they're still sinking... all your doing is wasting resources in a futile effort.


The Auto industry has failed to update itself to compete with other foreign auto industries. Even if the recession were to be over tomorrow, with the US auto companies not having evolved, they still don't stand a chance against other modernized auto industries around the globe.
They're going to fail with or without stimulus, unless they completely re-think the way they manufacture their product.

What I'm seeing in terms of engineering of these vehicles is that the upstart companies with little to no funding nor investment are out designing even the best known auto makers. These make shift single factory companies are turning profits and pushing the technologies forward... while the mainstream auto industries are wasting billions in research to simply understand what these small companies already have in practice, and have had for some time.

Clearly the US auto industries have gotten themselves stuck on an archaic formula and are unwilling to change.


All in all, you can't throw money at a problem to make it go away. You have to actively try and solve the problem. Money helps those solving the problems... but without the forward thinkers, your money is being thrown into a hole.

reply to post by johnny2127


Just one question, does anybody have any clips of where was CNBC While the Bush administration and congress were robbing the tax payer to pay for the wealthy elite banking system/

Were is the outrage on that one, it seems that We the people were also very upset about a bill that didn't do a darn thing for US the people but the media including CNBC had their heads so up the butts of corporate America to even care.

They need to shut up and go to hell.

Originally posted by jtma508
Like phushion said. This isn't about bailing out people who bought houses they can't afford. The ENTIRE subprime mess (that some neanderthals believe is the cause of this whole mess) totals around $75B. That's it. Nothing to sneeze at to be sure but not even a pimple on the butt of the Wall Street bailout.

Lots of people who have owned their homes for a long while have been laid-off, their investments have shrunk to nothing, their home equity credit lines have been frozen and they are at-risk of losing their homes. This CNBC bloated buffoon wants to cry 'moral hazzard' because now these folks can't sell and will lose their homes? They should have 'known' 10yrs ago when they bought it that the entire economy would melt down? What a crock of dog soft-serve.

How about the government did nothing and Morgan Stanley, Goldman Sachs, Lehman, AIG and all the others just defaulted and went belly-up? Hundreds-of-billions in credit default swaps are just allowed to default. That video would be a solid black square. None of those a'holes would even be there to make their 'let-them-eat-cake' comments.

No you are so off base here its insane. You can't defend the fact that people have been making horrible choices. You bring up home equity lines of credit like that SHOULD BE a source of normal spending.

What the CNBC host is talking about it people who always spent more than they should. Never saved. Never prepared for a rainy day. Took out home equity loans to keep up with the Joneses. It is these people that are getting bailed out. Not just subprime. The cancer has spread out of subprime and that isn't the issue anymore. But people can have good credit scores and be horrible with their finances.

This commentary is saying that those of us that were wise enough to spend within out means, and wise enough to save diligently, and wise enough to prepare for a rainy day, ARE NOW ASKED TO BAIL OUT THOSE THAT DIDN'T.

I'll leave this with a quote: “It is not the function of our Government to keep the citizen from falling into error; it is the function of the citizen to keep the Government from falling into error.” -- Robert Jackson

Originally posted by marg6043
reply to post by johnny2127

 

Just one question, does anybody have any clips of where was CNBC While the Bush administration and congress were robbing the tax payer to pay for the wealthy elite banking system/

Were is the outrage on that one, it seems that We the people were also very upset about a bill that didn't do a darn thing for US the people but the media including CNBC had their heads so up the butts of corporate America to even care.

They need to shut up and go to hell.

There was always outrage on CNBC about Bush's policies actually. But for me to accurately reply, can you please expand on what you are talking about? What govt robbery took place to pay for the wealthy banking elite? Are you talking about the $700billion bailout? If so, then you obviously don't watch CNBC, because most of the people on there were very much against the bailout.

Now they're demanding a revolution... and the martial law that follows that...

Sorry MSM I won't buy into your crap.

How about I don't subscribe the expectations of the economy instead and let your money run out in time, so I can watch you guys eat each other as people start to tune you out and your purpose becomes pointless.

How's that for an armchair revolution?

reply to post by star in a jar


It is a catch 22 though. Your solution I prefer as well. But we also need a drastic shift in how the govt treats its citizens, and the ownership govt feels it has over our income.

We don't want chaos. But this is also not the 'change' people wanted when Obama was elected. Its like the past but on steroids.......

johnny2127, where do you think the money for the bail out of the nation, the cash infusions of the fed in 2007 and 2008 and the economical stimulus comes from?

It doesn't come from money growing trees it comes from the tax payer in the nation.

that tax payer in the nation is getting narrowed by the day, with job loses, unemployment, outsourcing, insourcing.

We will only pay for the interest that this money that the nation doesn't have will produce, depending how willing are our lenders the foreign nations to do the lending.

Families are losing homes they are finding themselves in tent cities.

Properties in the millions are starting to be vacant, this properties do not generate income to the states in property taxes, states are finding themselves with less taxable income to survive and pay for state sponsored programs.

Our government bailed out first the banking system and now has to bail out the common American citizens and the money, tax payer money is been illegally and unconstitutionally used for this.

At least is about time that something is going to help those that pay the taxes in the nation.

Originally posted by marg6043
johnny2127, where do you think the money for the bail out of the nation, the cash infusions of the fed in 2007 and 2008 and the economical stimulus comes from?

It doesn't come from money growing trees it comes from the tax payer in the nation.

that tax payer in the nation is getting narrowed by the day, with job loses, unemployment, outsourcing, insourcing.

We will only pay for the interest that this money that the nation doesn't have will produce, depending how willing are our lenders the foreign nations to do the lending.

Families are losing homes they are finding themselves in tent cities.

Properties in the millions are starting to be vacant, this properties do not generate income to the states in property taxes, states are finding themselves with less taxable income to survive and pay for state sponsored programs.

Our government bailed out first the banking system and now has to bail out the common American citizens and the money, tax payer money is been illegally and unconstitutionally used for this.

At least is about time that something is going to help those that pay the taxes in the nation.

Actually, it comes from money that the govt is borrowing or printing, that the tax payer later will have to pay back. For generations.

This whole thing it absurd. People cut back spending, spend less, try to cut another job. What does govt do? SPEND MORE. Govt is going to take in less and less, but they do not cut their spending. They do not downsize. States aren't cutting much percentage wise because the federal govt was going to give them money. This is why you dont trust govt with these matters. Everything they do is wasteful and inefficient.

Fine, if the govt wants to do a bailout, that fine is they also cut back spending in other areas. They creating MORE govt. MORE departments. MORE programs. Thats why people hate this stimulus. Most of the spending isn't stimulus. Its big govt liberal spending. All at the worst time.

[edit on 19-2-2009 by johnny2127]

Take this poll


Would You Join Santelli's "Chicago Tea Party?"

So far 87% yes out of * 16262 responses.

www.cnbc.com...