You don’t think of CNBC as a place where there’s any critique of big government at all. But something amazing happened the other day and it’s been circling the blogosphere and even the mainstream media to some extent.
You can see the video rant here by Rick Santelli
Traders on the floor actually stopped what they were doing to voice their support!
One trader shouted “How about we all stop paying our mortgage!” More shouts!
Santelli ended by calling for a “Chicago Tea Party” to protest the notion that any of these spending plans was anything other than a fraud basically.
In a subsequent interview with National Review Online Santelli said:
At the end of the day, it’s simple. A lot of the president’s advisers are saying that there’s a multiplier effect to the government money, and it’s over one. Now if that’s true, then the government should spend non-stop for the rest of our lives, because we’ll get a positive return. And it makes no sense. … I guess in the end, I believe in the founding fathers, and I believe that in America… the pursuit of happiness and to work hard and keep the fruits of your labor is something I believe in. And I’m not saying we should forget people who need help. But at the end of the day, Americans are strong and they’re charitable. I think what they have a problem with is that it’s force-fed via the government.
Pretty cool video.
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