Santelli To Congress: Ignore The Market, Focus On Your Country
CNBC's Rick Santelli nails it once again by cutting through the idiocy and spin that is almost the entire mainstream media's view of the 'fiscal cliff' resolution. His point, among many he makes in this brief but compelling clip, is that the massive amounts of arm-twisting of the House Republicans not to add any Amendments was not about the 'economic turmoil' it might cause (as so many press wanted to report) but that "it would have riled up the stock market." The shouting Chicagoan explicitly states: "the Country, and Congress in particular, ...should never again use the stock market as their main barometer when addressing what's wrong with the country". Santelli drives his point home with examples from previous equity market downturns as he makes the critical point that it took 20 years to catch Madoff's ponzi scheme and he wonders how long we will remain dumbstruck by the Fed's printing presses, FASB, et al. into believing everything is good because stocks are going up. "Take a look at yourself in the mirror," he admonishes, but watch this 3-minute clip first for enlightenment!