Rick Santelli On Crossing $16 Trillion In National Debt

"When the number gets this big, it better matter to someone..."

Clip is from September when we crossed $16 trillion.  We have added more than $300 billion in the past three months and are now rapidly approaching $16.4T.

See U.S. Treasury Debt Page...

Comments

[DailyBail]

HCBK was a good bank that got the wrong bureaucrats at the OCC pissed off and paid the price. Meanwhile JPM CEO Jaime Dimon was literally betting the house with non-interest bearing, 100% FDIC insured institutional deposits covered under the TAG program. There could be no more graphic example of the arbitrary and capricious nature of federal regulation, large banks vs small, than the examples of HCBK and JPM.

http://www.zerohedge.com/contributed/2012-08-27/mt-bank-hudson-city-savings-bank-and-jpmorgan

[DailyBail]

Repudiating the National Debt

http://mises.org/daily/1423

[DailyBail]

Another Setback for GM’s Chevy Volt

http://247wallst.com/2012/08/28/another-setback-for-gms-chevy-volt/

[DailyBail]

Modern wheat a "perfect, chronic poison," doctor says

http://www.cbsnews.com/8301-505269_162-57505149/modern-wheat-a-perfect-chronic-poison-doctor-says/

[DailyBail]

WASHINGTON | Thu Sep 6, 2012 2:06am EDT

(Reuters) - In accusing BP Plc of gross negligence and willful misconduct over the 2010 Deepwater Horizon oil spill, the U.S. Justice Department has shown that it is prepared for a bruising court struggle with the London-based oil giant.

Government lawyers used unusually blunt language in describing the conduct of BP and its executives in a court filing on Friday, saying that it "would not be tolerated in a middling size company manufacturing dry goods for sale in a suburban mall."

http://www.reuters.com/article/2012/09/06/us-bp-oilspill-doj-idUSBRE88501H20120906

[Sagebrush]

"would not be tolerated in a middling size company manufacturing dry goods for sale in a suburban mall."

Of course not! The graft from a middling size manufacturing company isn't worth the effort to put blinders on the U.S. Justice Department. However if they're made an example of and prosecuted, makes for great MSM propaganda filler.

It's going to take more then middling size campaign donations to make this one go away. I bet the BP lobbyists are already heading for D.C. with truckloads of cash.

Rule of law and legal responsibility are easily displaced by large amounts of money, it's the American Way.

[Sell Short]

this guy is the only voice of reason on CNBS. Mark Hanies (RIP) was another one. all others are bunch of clowns including the biggest cheerleader of them all Jim Cramer.

Markets on a tear now with dow up 230 points. what mania!!

[S. Gompers]

I would love to see this chart updated to reflect the current devaluation of the dollar for the last 4 years that they have been burning up the bearings on the magic printing press...

http://www.infoplease.com/ipa/A0001519.html

[DailyBail]

Nice link, Gomp.

[DailyBail]

Sage wrote:

Rule of law and legal responsibility are easily displaced by large amounts of money, it's the American Way.

http://www.reuters.com/article/2012/09/06/us-bp-oilspill-doj-idUSBRE88501H20120906

[S. Gompers]

Thanks Steve, wouldn't an update on the value of the note be interesting?

[Steve Macintyre]

With the growing trillions of dollars (I've now learned the numbers are up to SEVENTY TRILLION now) that was given to these banks without any consent of the American taxpayer, I think we can declare any debt null and void. If anything, these treasonous handouts to a greedy entity that just keeps asking for more should be indication that the system is broken, and current people responsible strung up.

[DailyBail]

Steve

The trillions you are referring to were loans from the Fed, and they have been paid back.

[Texas Dar]

I can reamber my grandpa Schmitz showing me this with sliver coins in 19n59 how much 1 dollar is worth today and how the goverment is going to take us in a place where it will take a wheel barrel to buy a lofe of bread or a gal of milk.

Boy did that day come fast. I have a friend I know that said "Fuck-It", and prints his own money just like the goverment. CRAP, do I envy his new life style. His responce is, if our own goverment can do it, and get away with it, "Why Cant We"......? Yaaaaaaa Boy !