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The Road To Hyperinflation

Nov 30, 2012|

The President's has offered to the Congress in an attempt to avoid the fiscal cliff the first of the year a deal which demands new stimulus spending and authority to unilaterally raise the U.S. borrowing ceiling. Howie believed this tact will surely lead to hyperinflation and ruin.

Transcript - will not be 100% accurate

-- the first thing you want to talk about today is the is this up. This fiscal cliff in the and a Barack Obama being out again on the campaign trail and you know he's he's going around he's. He's going to factories were people actually pay taxes he's really he's really. Bang in the drums with the the -- people who voted -- pay taxes to begin. -- so I don't think is it really necessary for -- laden say. Do you Corrado welfare and don't pay taxes want to raise taxes on the people who do work. And who provide the money to keep you want welfare and make sure you don't have to get a job. Yes. Yes they support higher taxes on people who don't work because they don't pay taxes of course. You know how -- why why does he need to go out there that's what Rick Santelli was so mad about let's listen to Rick Santelli on CNBC. He disguise a policeman has just he's he's he thinks he's a comrade Chris Matthews of MMS and of us CNBC. It was just baiting he's baiting Rick Santelli to Rick Santelli is not a New York he's in Chicago there on the fourth Leo about the Chicago board of exchange. And so they just kind of club. That they kennel like that -- and you know just to get him angry and they they do get him angry accountable and will be angry about this. Here's an extra from the wealthy -- Did you read up journal today you know weekly what mr. Jim Senegal that's going to be the attackers in exchange today I read that. The democratic ads you know I I read -- of course I read that put the money through you know yeah -- you a little bit partners. There are also read the comments -- -- -- the -- it rich played the president's fairness those wealthy people he wants to go after. The escape that. Points -- interest. Rick is -- and -- -- it hasn't instead of GDP by a year to completely leaves out the eight years of the Bush Administration. If you read that op Ed hello what did you read I want you don't need Switzerland I'm not talking about then went public confidence with a solo -- I'm talking about. Don't love -- -- risen above it hit record. -- because it's reprehensible. It's rapper and how might very little go to Charlotte and safer and this and just try to beat the tax man what's in front of the. He's doing his job I'm doing is just. Now I didn't talk about it anymore. These guns. Now -- circular. And it's blood pressure checked -- line I don't blame them for this in the unit read this yeah yeah I don't remember additional drop dead if he doesn't watch it. You can read this thing I told you yesterday I said two with a male manager -- stories somewhere and it said -- Costco. Was backing. What was backing the democrats' big time. In the days they've also -- you know gone that that that she so we're never shop at Costco again. Not that we ever shop there anyway but does the notion of we're never gonna get a card and whenever join Moscow. And but it's worse than that. It and I agree with -- you know if this guy if if that if -- Costco you know you wanna go -- super you know one of these big. Big discount stores I mean I'd rather go to war 22 was. CM score but if because I'm pretty sure the Walton or are not that Republicans are at least on moon -- them. But that this guy you Jim Sinegal list but it gets worse than. It's in the that's what that's an editorial that exe and -- was talking about today in the in the Wall Street Journal. -- A publicly held company and the sky to Jim Senegal he he was in Charlotte. At the convention. In August. Or September. Here's what he said in Charlotte. That the Democratic Convention. He described mr. Obama as quote a president making an economy built collapsed adding that for companies like Costco to invest grow higher and flourished conditions have to be right. Matt requires something of all -- -- That requires something of all of us in other words. You may have to pay our fair share. But guess what costs the coal is going now that it comes time for them to pay their fair share here. As we. Careen off -- Fiscal cliff. Surprised this week to see that mr. Senegal on the rest of the cost -- board voted to give themselves a special dividend. To avoid mr. Obama is looming tax increase is -- what the president means by tax fairness says the Wall Street Journal. Specifically. The giant retailer announced Wednesday that the company will pay special dividend of seven dollars a share this month. That's at three billion dollars Christmas gift for shareholders the world can be taxed at the current dividend rate of 15%. Rather than next year's rate -- up a 43 point 4%. An increased to 39 point 6% is the bush era tax rates expire plus some of the three point 8%. From the new obamacare -- charge. More striking is that cost go also announced it will. While all 3.5. Billion dollars to finance the special out. Dividends are typically paid out of earnings. Either current or accumulated but so eager are the Liberal Democrats Costco executives to get out ahead of the Democrat taxman that they voted for. But they're taking on debt did -- so now. One of the biggest dividend winners will be none other than mr. Senegal. Who owns about two million shares while his -- -- another 85000. Cheers. At seven dollars a share. The former CEO will take home roughly fourteen million dollars at a 15% tax free you'll get to keep nearly 12%. Twelve million of that windfall. Well at next year's rate of 43 point 4%. He'll take home. About eight minute he would take home about eight million that's a lot of extra come only. This isn't exactly the tone of her shared sacrifice to mr. Senegal struck on stage in Charlotte now diet rich quote. But how war building the building of the economy requires something from all of us. By the way the cost -- board also includes at least two other prominent -- bumpers for higher taxes. William gates senior and Charles munger. Mr. gates the father of Microsoft's Bill Gates has campaigned against repealing the death tax and led the fight to impose an income tax via referendum in Washington State. It lost. Mr. munger is Warren Buffett's longtime central upon today at Berkshire Hathaway in -- spoke approvingly of -- value added tax would stick it to the middle class. Costco CFO Richard -- -- confirmed that every member of the board is also where shareholder. Iraq at seven bucks a share the dividend will distribute roughly 29 million to the board including mr. Senegal's fourteen million. At a collective tax savings of about eight million dollars even more penalties so these are people these are people who. Went out there and specifically Senegal went out there on stage at the Democratic National Convention. And public farmed for higher taxes. And yet. When it came time to avoid higher taxes his company borrowed. Money to give him the evidence so they can pay him a dividend. At a lower tax rates so that he wouldn't have to pay higher taxes he want you what made -- plan. These people are incredible hypocrites just incredible. They don't and you know what I said I bet he doesn't even think twice about best heeded he he avoided he didn't call. Mr. don't want to explain the well looming tax hikes are factor in the December borrowings or current low interest rates. Fall. All Kennedy -- by the way Joseph Biden stopped by to join Joseph was mr. Senegal yesterday. And pose for photos as he did some Christmas shop. Well isn't that great. The sum up. Here we have people at the very top of the top 1% who preach about tax fairness. -- to write themselves a huge dividend check to avoid the Obama tax increase they claim it is a public service. To impose on middle class Americans who worked for thirty years and finally make 250000. For a brief window in time. If they had any shame that send their entire -- -- -- the treasury but they don't have each game. Does Elizabeth Warren -- game. Of course there's John Kerry have any shame of course. They they don't they don't they want you pay high taxes but their obligation to pay any taxes themselves. Then it was -- even thinks it's okay to war -- she's a break she's a amid. Barbara minority group to -- -- 1877469432218774694322. That's the gut told freeze and number of the Howie Carr show -- you wanna join us where you think this. We think of these are richer these these are rich people was trying to -- -- -- 21 that to not pay the higher taxes while -- well they're supporting Obama -- wants to raise taxes on on all Americans and let's face it. He does -- raise taxes on all Americans. Liberal Democrats this is from Israel that higher rates for the wealthy just the beginning so you know as if as if we didn't know that. This is people like. Keith Ellison. Minnesota John Conyers Detroit. Ruled grow greed -- -- on Barbara Lee. California they they don't have too many. Constituents who a very many taxes enough -- -- BBA caller right now. To 61793116. Stadium when an overnight stay for two to the panel Webster immense law. Courtesy of the Tonya hospitality groups of BBA column right now is 61793116. Medium win. 6179311688. Call. 187746943221. Pizza. 97 they take a broke out your 1% and wonder you whining like a -- I'm I'm whining I don't like hypocrisy. You know. I thought I got that that -- critical letter to the editor in Terrell -- that they -- this how we keep going on about the the the voluntary factory that no war no liberal -- Moon bat hypocrites up pay yet in Massachusetts. This how we pay this Scott Brown play in my eyes I said. Scott brown and -- and everybody else who doesn't pay wanna demanding higher taxes on everybody we want lower taxes. These people who want higher taxes like Jim Senegal. -- mean it's one thing it's it's it's bad enough they don't voluntarily pay but here they are taking. Pro active steps. They are following. Money. -- corporation is borrowing billions of dollars to give them a they a Christmas present so they don't have to pay higher taxes that they think you -- I should play. That's what that's what bugs the hell out of me about this Brian your next with how we cargo ahead Brian. Or did not get our member -- It. I'm -- thirteen yeah. And I know that -- not know your next -- You know -- I've worked my butt off the they -- out with a large outside -- what I. Our. Job. In. That brought you out. -- Like you aren't they don't hit it real. Yeah I'm just you know my feeling is I'm like I said that's why cleaned all my money out of my 401K I just I I don't wanna give them any any money I want to withdraw from -- For from this Hoover vacuum cleaner of a government is much like cat you know I don't want to get any more my money they've got enough of my money. If these credence like a Jim Senegal from Costco wanna give -- give -- money if they believe it let them give their money you know. The body but of course she doesn't believe it fuel he -- like you would mean he doesn't wanna give many more money he just think he's just a bigger hypocrite than we are. The millionaire that they'd lose our -- cute well yeah. And all. He or the -- Yeah. I could but I -- like you know what would Brian I'd prefer not to go back to being -- five -- I've been I've been I've been well rich and I've been pour and rich is better riches a lot better. No question about it. I could I could go back at the technical back to being pork I can go back to washing -- you -- -- they don't adore that one HT. Given that weren't work ethic I think you -- go to work ethic you can go either way although obviously came in their right mind much to parents. I don't -- but you know what. The thing is well I I don't wanna be I don't wanna be a hypocrite you know I'd I don't wanna say you know I idea. You know I think you should pay more money because we don't have enough money -- market pay the money I'm like I don't want I would I would do that it's not that's. Mean I'm I'm not I'm not perfect obviously but that's my my -- You know that's my style to tell somebody to Monica. Scott your next with Howie -- -- -- Scott. I don't know all the facts but I am but it's into streets or in the along Eric is he meant -- the -- on about how they're not the -- back very similar. In other like opt out was that the bombs were supportive of the Democratic Party and acting AG and attacked. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well I don't know if there's guilt there I don't know if there's -- they're not as guilty as Senegal while that you'd you'd have to go along way to find somebody who's more guilty -- the guy that runs sent that runs Costco Scott. Well if you -- happening now -- area there were an investigator -- and speaking Obama's. They were so much pressure on Wal-Mart and -- unity in and day out there you know how we can really hear much about that -- Obama administration. Don't think that there's not a -- -- going on behind the scenes that we don't know that you don't hear about Wal-Mart anymore -- being the worst offender worker rights anymore the. Now what I think you know one thing about who Wal-Mart back you know when they got started out until very recently. Arkansas was an all democratic state now it's basically an all Republican state. But they if you if you were called when Clinton was governor. He had Hillary Clinton or or Bill Walton said Hillary Clinton on the board of Wal-Mart. So you don't they had the they had to play ball with the powers that be an error in their home state of of Arkansas. So I don't -- but -- -- you know people -- backhanded -- tend to be liberal I don't know what I don't know what happened stool but they have to do tend to be liberal but I just. This this just bugs the hell out of me that the guy could be this this this big of a hypocrite to go out there talk about the need for higher taxes. And then I have his company -- three billion dollars to give him idea. To save him eight million dollars thanks for the call Scott -- your next with how we -- ahead dead. And -- you don't good -- is the only comment on that dollar Iraq going would be and god we trust. Yes -- the other day that was look at -- -- I was looking specifically for that and it and founded on the the Al program. Engraved into the the -- itself you know on the flat side yeah so it's you know it it does exist on on some -- Which ones. Because there's about the -- bunch of different Pollack point well. So I mean now because I I was lucky enough that they -- see this week in the upper and it's warning that eighteen of them and change. Isn't that nice -- and. But if it doesn't -- and on some coins. But it's plated on the the edge -- with what she's being crippled you know. Right -- yeah I know what you mean in other words it's like the leader right now as they. Would let they're trying to get rid of that this is what it's like hanging on by a fingernail -- -- Under the -- Thanks for McAuliffe said. 1877469432218774694322. How it's like sitting at a meeting in the boss just for volunteer a coworker offers up somebody else kinda like Costco. Don't speak for the other bleeping people. I don't enough. People like that rich -- tend to be liberal because when you have that much money you're no longer grounded in reality just like a liberal. You would think I mean how. How long did it take but they've been working on this thing for months the this plan -- big big everybody's known what the bush tax rates were were going to expire for a year because that they were supposed to expire what two years ago. I think two years ago on May change the -- -- to a year ago. Anyway they've been months. And the that the Democrats were only meeting what. It's October due to less than three months ago. So they had Costco had to be planning this bond. Before when he got up there and said that you know that it. The conditions have to be right that require something for all of us meaning higher taxes so he know he know. But he was planning that when he went when he said that requires something from all of us that meets that meant something from all of us. Except those of us who run Costco and home Costco because we're not planning to -- the -- when a player PM planning to pay -- higher -- We're gonna Barroso money and and pay at the lower rate. But we think that we think that the middle class and the you know the bitter clinger should pay the higher tax rate. 18774694322. -- now car. 1877469432. To the hospital for number Howard Archer were talking about the the TE 1% -- the liberals. At the gym Senegal's of the world who runs runs Costco. He he was at the Democratic Convention in the in the late summer and talking about everybody had to do their fair share and should Obama is building an economy collapsed. And that he left Charlotte and went back to corporate headquarters and ordered his financial team to -- take out three billion dollars in bonds so that they can give Alia. Hefty. Payment. -- stockholders including himself through twelve million. Before the Obama tax increases going to fact. In January 1 that's better than calling at the bush tax rates sending its -- bought before the Obama tax increases go into -- which are going to war -- they're going to increase the packs on a -- of dividends. From 15% to 43 point 8%. Is -- a nice isn't that nice. It's people saying suddenly one I just call Costco let them know might be shopping there are renewing my membership. 603 this Costco deal will avoid 570 million in revenue to the treasury we should anticipate crickets from approached. Yes you should. Yes you -- By the way people keep asking me if I want to dollar bonus bill donated dollar for this and that -- album -- CO bombing he takes my money and gives away. For me. Yeah. -- my wife was it down enough for Florida at the at the public's across the street from where we live last week which some a given day every time with -- republics via check -- line. You wanna give a dollar to the whoever wants. She said I don't like I don't why -- -- can give that to the next and we drew you wanna give a dollar. Yes they said -- that you were gonna give a dollar as she didn't like -- like pay -- taxes you pay enough enough welfare etc. terror. Shall I don't want. Him there first. I don't be better place now. 1877469432218774694322. And the guy says he's going to -- BJ's announced that Obama. Costco. Again all region the spear for -- Wall Street Journal put some up here we have people at the very top of the 1% meaning the -- score board of directors. Who preach about tax fairness voting to write themselves a huge dividend check to avoid the Obama tax increase they claim it is a public service to impose on middle class Americans. Who work for thirty years and finally make 250000. Dollars for brief window in time. If they had any change its and there are entire windfall for the treasury but they don't have any -- That's being a movie about being a liberal means never having to say you're sorry. It means never having to. Admit that Europe leaping hypocrite homer you're next with Howie Carr go ahead homer. Yes our gallery today. They are getting at some more hypocrisy I live in Northampton. Yeah it's two weeks ago they had a big article about the ladies from the highway safety department. In what outrage here was that she had a job you know this sport has ever done this. Sheila Burgess I believe is her name yes correct. I wrote a letter back to the does that which they haven't published yet saying that. If it wanted to statewide election he could have a 130. Countries -- record but if -- -- as a Democrat eighth biggest that would never mention it. And be. -- would endorse her anyway. I challenged them is that out of the last hundred. Endorsements that you made and the over under was 95. I would bet on the over. For how many Democrats you have to -- that she would make a prime candidate like he thinks -- -- like John -- Just like Elisabeth warrant just like -- Democrats. And it's funny -- now thinking of buying the records about who -- -- -- people could've hired her. Another is that there's only it it's it's it's probably -- higher it is a -- to what Jim McGovern whose via the moon that congressman out there he was involved and it. But you know here you're you know you're absolutely right home I mean. You don't. At least we got her record from the registry of motor vehicles you know we don't know who -- -- we got her record we we still don't have the lieutenant governor is records as to what who he got. As to who we was talking to when he had that giant traffic accident right. He's a lot bigger traffic accident than anything Sheila Burgess ever had she just had a bunch of fender benders. Things like that this guy actually wrecked the car. And that he was for it was 108 miles an hour this is the the the state police actively tried to cover the case up. For months until the until the freedom of information acts were kicked in and there are still hold there's -- holding back we don't know we don't know what. We don't know he was talking to home we were pretty good idea but we don't we don't know for sure that they won't release it. Do you think it was a Republican governor they'd be okay with all the records were destroyed so we don't know who. Now they would not be okay well. They would not be OK with that and they would not be okay with the attempt K with but Emery is saying -- -- gonna release my ES cell phone records so you don't know why it was pocket too when I wrecked that car. Just take my word for it but I was but I was not speaking to anybody. But but missed a lieutenant governor you also publish were going the speed limit and then wouldn't we got the -- beat the documents that the state police were trying to show up -- turn out you weren't going 65 you were going 108 miles an hour. But applying now I'm telling the truth now you can trust me now. -- yeah you're right homer every if strange twist of fate Tim Murray gets the -- the democratic nomination for governor when he fourteen Hampshire gazette will undoubtedly endorse him over the Republican. Well you know John Kerry -- side. To be secretary of state or defense do you think anybody won't mention his little deal what is ball. Now with the dogs -- care yet although they want now know what now. There where it's considered bad form just like it's considered bad form to meet meant to mention that Elizabeth Warren doesn't pay her were doesn't pay the higher rate. Or nor does a John Kerry. 1877469432. To -- -- use my EBT to buy Costco shares to get the get the the the dividend as a -- usury BT's share but the IDE Quinn you have you have another ten days to buy the stock. The dividend the special -- beat the Obama tax care tax credit tax increase. Is payable on December 18 to holders of record on December patent so you have -- ten days to -- To -- we predict this is a particularly good Christmas present for Obama supporters you know. Because it enables you to why you can still say that you -- -- for higher taxes on everybody else while you yourself have taken. Active measures to avoid paying those same taxes that you want on everybody else. David your next with how we cardinal ahead David. Yeah Christmas Merry Christmas to you to. And are much what did you hear employer Costello and you know before I get into the problem. They have kind of did they have really been a good company to be employed in the whole time and now part time yeah -- they offer delegate wage and you know that that training and so -- and everything within the company structure he is really sound however I should've known problem coming and a couple of years ago. They started accepting EDT it's. When they never -- -- and now that I heard that he was that the convention. I should've seen this comment yeah I -- the incumbent. Yet if you'll talk to the guys ever come to your store. Yes I've met him a couple of different times -- outcome -- story. You know likes to sit down and out the dollar sixty -- dive in and you know chalk it up the -- cashier's. And -- the quality -- son David. What a man of the people he has. Yeah I guess that's the way things really. Opened my eyes in terms of outlook the hierarchy is really like. Right right check it out check out this editorial in the Wall Street Journal -- Rick sent -- crazy today and it drove me crazy when I read it as well drive you nuts do maybe you'll probably go crazy because you worked there. Thanks for the call David. 187746943221. -- a couple of hundred shares of Harley-Davidson a dividend -- what's gonna happen I would bet that Harley-Davidson is trying to. Harley-Davidson might find it harder to get away with doing -- doing it because there's such a such a public face a vote of American manufacturing. 207 how we I don't know three employee business in Scarborough just got my health insurance renewal lopped forty. Nine point 33% thank you obamacare. All hypocrites are not Democrats however well you configure the rest out yes. All the Democrats are blah blah blah blah blah yeah. 1877469432218774694322. Worked -- BJ's for five years so you speak at the corporate office all the top people total moon bats. I don't know I bought my box so of course I wasn't speaking for the -- people -- how to speak and the guys who wanted to comment -- -- and I was I was the election -- on the on their wins their Tuesday yeah. Tuesday the authors so watcher -- series Kirk your next with how we cargo ahead Kirk. -- into it and -- married for almost 3040 years. Our mind that someone of angry old white guys what I wanted to go. It is so all of my wife. A quiet roar on section eight housing I'm gonna take to actually. Pay it might like to live Lori -- them. Apart from EDT card. And after -- do that and goal from Matt how. What do adult my pocket -- -- at best. At it to dominate county board members think it's Senegal. It's it's on sit on the same border companies think their scratch my back now. It sure is I'm sure they had yesterday in the journal said it was over 170 companies already decided to do this I mean it's just it's senate call appears to be a moral. -- more. Visible hypocrite than arrest well most of the others are invisible. And it says so that as well I don't want to talk about. Level the playing field is what our government is. -- -- I can't -- house. I know I'm telling you like the guy said don't you think that you think the mainstream media's got to pick up on this story hell well. Well you know they've -- I'll put fox I have this. Fox on the replay the speech this weekend -- this I mean at the convention about however we ought to pay our fair share. And then -- that talk about what it is when he did thanks for the call -- 18774694322. Car.