Santelli: Obama Should Talk About Debt We’re Leaving Future Generations, Not Climate

RICK SANTELLI I always ░░░░░░░░ that when markets are ░░░░░░░░ they re guns hot ░░░░░░░░ s very little doubt ░░░░░░░░ equity market s to ░░░░░░░░ down side The bearish ░░░░░░░░ of late equities are ░░░░░░░░ gun hot here And ░░░░░░░░ they do when the ░░░░░░░░ are hot what happens ░░░░░░░░ gets a whole lot ░░░░░░░░ attention from other markets ░░░░░░░░ specifically today what I ░░░░░░░░ to point to is ░░░░░░░░ linkage between equities falling ░░░░░░░░ what s going on ░░░░░░░░ high yield and how ░░░░░░░░ spills over into corporate ░░░░░░░░ in general We ve ░░░░░░░░ today about the Barclays ░░░░░░░░ Whether it s investment ░░░░░░░░ or high yield Let ░░░░░░░░ look at the ETF ░░░░░░░░ One and two day ░░░░░░░░ clearly shows the markets ░░░░░░░░ down When I can ░░░░░░░░ you because I can ░░░░░░░░ run more than two ░░░░░░░░ in a row is ░░░░░░░░ this is the seventh ░░░░░░░░ in a row where ░░░░░░░░ HYG is moving lower ░░░░░░░░ it up to August ░░░░░░░░ can see that dynamic ░░░░░░░░ the middle and right ░░░░░░░░ of the charts If ░░░░░░░░ open it up the ░░░░░░░░ time we re at ░░░░░░░░ levels it was around ░░░░░░░░ of 2011 But it ░░░░░░░░ a bigger story than ░░░░░░░░ It s about the ░░░░░░░░ legacy Today the president ░░░░░░░░ the U N we ░░░░░░░░ it here at CNBC ░░░░░░░░ talking in large part ░░░░░░░░ climate change and the ░░░░░░░░ that those of the ░░░░░░░░ planet are leaving to ░░░░░░░░ generations Now we can ░░░░░░░░ the human factor and ░░░░░░░░ much actual accomplishments we ░░░░░░░░ going to get and ░░░░░░░░ it against the dollars ░░░░░░░░ spent We all agree ░░░░░░░░ take care of the ░░░░░░░░ What I don t ░░░░░░░░ is with the tenuous ░░░░░░░░ of government overlooking things ░░░░░░░░ natural gas with the ░░░░░░░░ grid talking about how ░░░░░░░░ Tesla car is good ░░░░░░░░ it s most likely ░░░░░░░░ up through these grids ░░░░░░░░ when you talk about ░░░░░░░░ nobody really talks about ░░░░░░░░ legacy we re leaving ░░░░░░░░ regard to debt on ░░░░░░░░ generations Much more tangible ░░░░░░░░ easier to quantify Just ░░░░░░░░ at the OMB or ░░░░░░░░ Congressional Budget Office Look ░░░░░░░░ what they re telling ░░░░░░░░ we re going to ░░░░░░░░ facing A mountain of ░░░░░░░░ starting around 2026 Moving ░░░░░░░░ 2035 where the numbers ░░░░░░░░ the demographics and entitlements ░░░░░░░░ downright scary Downright scary ░░░░░░░░ to the equity relationship ░░░░░░░░ debt We know that ░░░░░░░░ the credit crisis there ░░░░░░░░ about 56 trillion more ░░░░░░░░ debt I think that ░░░░░░░░ should go to the ░░░░░░░░ N and talk about ░░░░░░░░ issues They are a ░░░░░░░░ no argument no debate ░░░░░░░░ s no science to ░░░░░░░░ settled here And how ░░░░░░░░ we know it s ░░░░░░░░ Because if you look ░░░░░░░░ some of the issues ░░░░░░░░ talked about if you ░░░░░░░░ holding any of these ░░░░░░░░ than perfect credits of ░░░░░░░░ and if this market ░░░░░░░░ what we re going ░░░░░░░░ see is a whole ░░░░░░░░ more selling and futures ░░░░░░░░ hedge high yields and ░░░░░░░░ Is the market deep ░░░░░░░░ I m not sure ░░░░░░░░ it is.