Maybe they were applauding his performance.
“And The Emmy goes to…”
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I said it yesterday when this broke that Krugman would have something to say about this…He has been calling them out for years
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Krugman, as he usually is, is absolutely right. But to TPM, just an editorial request, and probably a shallow one at that. I’ve seen you use this picture of Krugman a lot, where he’s hunched over in his seat at some event, his jacket crumpled on his shoulders, awkwardly holding a mic. Is there no other picture you have you can use to accompany stories on him? But, on a related note, please keep using the one of Sarah Palin looking goofy and drinking out of a Big Gulp cup. Thank you.
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I find that picture to be representative of what I imagine he is like.
While Santelli has been almost totally wrong in every prediction he has made, Krugman has an excellent track record:
- He foresaw that the mortgage bubble would end badly. He was probably not the first to say so, but was definitely one of the earlier one.
- When the Euro was launched, he predicted almost perfectly the problems that we have seen with the peripheral countries. He said they would come with the first serious recession and they did,
- He predicted no inflation and that the recovery would be weak (to be fair, I think it has been somewhat stronger than he predicted).
Considering those are probably the 3 major economic issues of our time, that is a damn good record.
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Agree. I also remember his rant included a snide mention of people “who had one more bathroom than you do” to, I believe, promote resentment of “those people.”
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Russo and other GOP operatives might have done the behind-the scenes organizing, but it was Santelli that misdirected and mobilized people and gave them their marching orders.
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Requiring not a lot of talent, traders are little more than pickpockets with a tie and a tee time. They look every bit as stupid as Santelli…and probably are.
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Its amazing this man is labelled a liberal shill for simply being an expert on proven, mainstream economic theory. Nothing Krugman ever says is controversial from an economic standpoint - the controversy is created by far-right economists so far out of the mainstream that most of them do not publish in peer-reviewed journals.
The fact is that the economic theories with the most supporting evidence also tend to back up liberal policies - so the far-right, as it usually does, replaces science with ideology.
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Or…Rick is so consistently wrong, that the traders bet against him, and made out like bandits.
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Santelli is a moron child who loves to oppose any kind of authority. Various sub-cretins on the Wall Street floor agree with his grand world view. Please don’t bother these mongoloids with facts. They are too busy throwing toilet paper and thinking that’s their job.
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He stood on the floor of traders and derided people who were getting kicked out of their homes. But he’s A-OK with those same traders and their firms getting billions upon billions of dollars from those same tax-paying citizens.
Hypocrisy thy name is Santelli.
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I think they were applauding him because they make money off of his stupidity and the people that follow him.
Traders trade and get commission from the trade. When someone loses money, the trader still makes money. When they lose big, the trader makes lots of money. So they applaud when a fool drives more fools their way with money!
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What’s amusing is looking at the markets. Markets are at all time high’s. These traders are doing well. Yet most of them would trash Obama. Ideology trumps reality.
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Certainty consists in being wrong at the top of your lungs.
You’re right about what his rant was about; but he’s a CNBC regular who’s been a loud member of the “Fed’s keeping rates artificially [sic] low, inflation’s gonna skyrocket!” club for years now.
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Santelli’s original temper tantrum was also disingenuous. He was ranting about opposing a government bailout for homeowners immediately after all those high-rolling traders (who applauded him then as well) had themselves had been bailed out to the tune of several BILLION dollars by the very taxpayers Santelli was screaming about…
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It’s people like Santelli who make me pray for the end of capitalism.
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Yeah, it was largely a tirade about not wanting to pay to save the mortgages of those “losers.”
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And that’s another problem I have with the phony populism of these right wingers. In their criticism of low interest rates and “loose” monetary policy, they always use the example of the little old lady living off her savings and falling further behind because of supposedly artificially low interest rates.
In actuality, the biggest beneficiaries of higher interest rates are creditors and bondholders, not grandma living off the interest from her passbook savings account.
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