Posted on 05/20/2010 9:29:57 PM PDT by Rufus2007
With the Dow Jones Industrial Average (DJIA) take another tumble of 376 points on May 20, some investors are pointing to problems in Europe for the sell-off. However, there may be problems at home as well.
CNBC's CME Group floor reporter Rick Santelli explained on the May 20 broadcast of "Closing Bell" it had a lot to do with the Europe and the Euro, however it isn't all coming from abroad.
"Well, a couple of things," Santelli said. Well, first of all, if you look at the high-grades, they widened out with the high-yields widened out more today at levels today that are wider than the day of the flash crash. That's ‘a.' And ‘b,' you know Maria, we have a 1.2511 on the Euro. This is so much more than just focusing on the Euro."
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
Santelli is known as the smartest guy on CNBC.
Some at CNBC are getting very vocal about Congress’s role in further wrecking our economy. I wonder how long NBC will let it go on.
>’What Are They Doing in Washington?’
Probably something that would make decent men shudder... and/or a circle-jerk.
[/cynic]
Don’t the TEA parties owe their existence to him-?!
A: Destroying Western Civilization.
Hello! That’s been the plan all along!
Santelli tends to say truthful things regardless of his CNBC handlers, thank goodness. He is one of the remaining CNBC correspondents that seems to be able to tell the truth.
Too bad though, he will probably be gone soon - to FOX...heh.
My perennial question is, “Why does the DOW track the Euro?” Today it didn’t, even though this is usually reliable. The Euro rose and the DOW tanked, and I think Santelli has a good explanation.
**Too bad though, he will probably be gone soon - to FOX...heh.**
HE would be a Great Addition to the FOX Team.. especially if he was to REPLACE O’Really!
Santelli sure has a better explanation than the notorious loudmouth, leftist apologist, Jim Cramer.
they are killing the country ...deleting personal wealth.
The market is simply calculating the financial effect of the democrat party’s new assault on the US Economy.
Expect a massive sell off tomarrow, with the Dow down 300+ more points, IMHO.
I should have bailed out...the thought of more gov control over anything makes me sick.
He knows Socialism when he see’s it.
I have a better idea then a new law. How about putting Sen Dodd and Rep Barney Franks in jail for the fraud they committed in causing a great deal of the banking problem? The will make America much safer in the financial world!
“Santelli is known as the smartest guy on CNBC.”
Rick, is probably the most honest. The rest are left wing suck ups, who never report the real news or dare to question Lord 0haha and his Chi Town thugs.
Look forward to the addition - he deserves it!
Fox should replace O’Reilly, Shep and their Saudi shareholders.
Santelli is the only thing good on TV.
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