Rick Santelli and Charlies Biderman, CEO of TrimTabs Investment Research, discussed the slowing economic engine of the United States. The root of the problem? As Santelli put it: “We used to lead the rest of the world, thinking free markets do it. Now, all of a sudden, we’ve joined the rest of the world thinking only governments can do it.”
Biderman agreed, and pointed out that Obama’s background as a community activist has only exacerbated this dangerous economic mindset, which the Fed has increasingly embraced. He has the same forecast as Peter Schiff – a new round of stimulus will be the Fed’s next significant action:
The only thing the Federal Reserve can do is keep interest rates low. And as a matter of fact, as I’ve been saying on your show for the last year and a half, no interest rate hikes are possible given that we’re now entering into a global recession. I actually think the next move by the Fed will be some sort of stimulus.”
Video Length: 00:02:45
Highlights from the interview:
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