Category Archive 'Federal Downgrade'

09 Aug 2011

CNBC’s Rick Santelli On the US Ratings Downgrade

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Santelli comes in around 3:06 and puts matters into perspective.

“You guys ever play sports been on an organized team? Ooh yeah. Okay. You know sometimes you get a couple of bad calls or the game didn’t go your way but should have. A good coach isn’t going to come up to you and say, The other team stinks I’m mad. We’re going fight, we’re going to appeal. The coach says, Doesn’t matter. Okay. we’re a better team than this. Just take this to motivate the team to move on to greater things. You know, the treasury secretary, the 8% excuses, the blame Bush, blame the sun, blame this. You know what leadership means? It means that it doesn’t really matter what S&P says. We all know deep inside that no country is the same as it was five years ago. And the market seems to be okay with it. As for stocks going down, we’re already Ralph Kramden on thin ice. Now an infant jumped on our shoulders that’s even more weight. In the end, in the end we need to address problems we know exist. The treasury secretary or president should be out here not fighting S&P, not grabbing the other coach and slapping him around, taking the umpire behind the barn. He should be getting the team psyched to overcome. I had a professor in college. I wrote a great paper. Could never please this guy, but it made me better. We’re better than this. Don’t get caught up in the minutia. All this b.s.. We’re better than this. We need to prove it. We’re off track. Whether we’re better than some other country or not, the real circumstances we’re on the wrong path.

Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn’t for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB.

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