Drive-Bys Begin to Crack on Shutdown?
October 08, 2013
RUSH: Last night's CNN, Erin Burnett OutFront. She spoke with "The Forehead," Paul Begala, about the impact of the government shutdown.
Now, I don't want to get too far gone here. You know, as the mayor of Realville, you stay real. But I have been opining that I think -- let me put it this way. The Republicans are not losing the way the inside-the-Beltway media is portraying. It's a far different reality throughout the country.
I think that some of the Drive-Bys are starting to crack. We had Wolf Blitzer yesterday, who was not buying what he was hearing. We had Stewart with Sebelius. And here now is Erin Burnett talking to The Forehead about the shutdown. What they're all saying, "Wait a minute, everything's still functioning here except what you guys won't permit. You guys won't permit the veterans to go to the memorial. You guys won't permit National Parks to open, but other than that, everything seems kind of fine and dandy here."
BURNETT: What about the shutdown? The media notices the Amber Alert website isn't working, it goes back up. Ninety percent of the civilian Department of Defense employees are now back working. If the government was really shut down there wouldn't be money to do all of this so it does sort of create this atmosphere of maybe they oversold this. This was supposed to be the end of the world, and it's not, so then maybe the debt ceiling won't be the end of the world.
RUSH: Oh, so maybe the debt ceiling won't be the end of the world. This isn't. Y2K wasn't. The financial crisis of '08 wasn't. All the other debt ceilings have not been. Maybe this isn't. So a technique has maybe exhausted itself here. Here is The Forehead's reply, who of course sticks to the Democrat line.
BEGALA: I saw Warren Buffett saying that it would be a nuclear bomb. Go pass the debt ceiling, go ahead and do it! Just like, let your kids play baseball in the middle of a crowded street. Maybe they won't get hit by a car. I think it's preposterous. It's crazy. It's walking into a risk, an enormous risk if you listen to the experts, that we don't need to have.
RUSH: A nonanswer. Walk into a street, you may get hit, you may not, that's where we are with a shutdown. Warren Buffett said it would be like a nuclear bomb. Warren Buffett is on the record as saying Obamacare is a disaster. All the way back as far as 2009 Warren Buffett advised Obama to pull it back and redo it. So let's move forward to this morning, CNBC Squawk Box, the cohost Joe Kernen talking with Sam Zell. And full disclosure. Sam Zell used to own Jacor Communications, which, for a while, was the syndication partner of this program, although I never met Mr. Zell. Of course I know of him, real estate investor.
He used to own -- maybe still does -- the LA Times and Tribune company. I know he wants to sell it, if he still does. I lost track. But he's a multibillionaire financial whiz. And Joe Kernen said, "The stock market is QE juiced in your view." Meaning they've overdone it with QE, it's just not real. "This is just going to make the QE last even longer because maybe it hurts the recovery. So the stock at this point is how much of a bubble in your view, even though it's come down a little?"
ZELL: I would raise the question as to whether or not the events that are going on right now are an excuse for the stock market to correct. I mean, I ran a lot of businesses. It's true business is better than it was in '09, but that's like comparing, I don't know, leprosy to cancer. You know, I mean, '09 was horrific. It's definitely better today, but we're a long way from any kind of robust recovery.
RUSH: Did you hear that? Yeah, business -- (laughing) -- it's better than it was in '09 but it's like comparing leprosy to cancer. You don't want either one. By the way, Jimmy Carter has come out, and he's now bellyaching about the poor economy and the widening gap between the rich and the poor. Has somebody told him that we've been running Democrat policies for the last five years? It's amazing to me.
Anyway, so here's Sam Zell, this is no recovery going, even with QE3 and 5 and infinity, there is no real recovery going on out here, only if you compare it to how bad things were in 2009. And then Joe Kernen, CNBC, said, "Do you blame the Tea Party for this?" Now, stop and think of that question. The Tea Party? How in the world could the Tea Party be responsible for the stock market? Especially given all the pumping that the Federal Reserve has been doing. The Tea Party -- and he was serious with this question. Do you blame the Tea Party for this poor economic recovery? That is such a disjointed thought, much less a question. Here's what Zell said.
ZELL: No. I think the Tea Party is a reaction to an imperial White House. The president is elected to negotiate. That's his job.
RUSH: Imperial White House. Sam Zell. The Tea Party is a reaction to an imperial White House. I.e., the Tea Party exists because we've got near authoritarian dictatorial crap happening here. They're not responsible for the market. That's the president, Joe.