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Rush Limbaugh

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RUSH: Late Tuesday afternoon, Bloomberg Television Street Smart show, the guest is Gloom Boom & Doom Report, the publisher Marc Faber. The cohost here Matt Miller said, ‘Let me ask you about the State of the Union [show.] We’re gonna hear from the president on what he’s done for the past couple years and what he has ahead of him. With the political constraints in mind that the president has to deal with, what do you think of the job he’s done and what do you think he needs to do from here?’

FABER: I think he’s done a horrible job, and I think that will continue. I think he’s basically a dishonest person, intellectually dishonest, and change, nothing has changed.

RUSH: Ooh, that is Marc Faber, the publisher of Gloom Boom & Doom Report. Now, obviously Jeffrey Immelt’s not gotten to this guy yet, not made the sale. Bill Daley hasn’t been able to make the sale to this guy yet. I mean that’s pretty — play that again. ‘What do you think the president needs to do from here?’

FABER: I think he’s done a horrible job, and I think that will continue. I think he’s basically a dishonest person, intellectually dishonest, and change, nothing has changed.

RUSH: Remember, this is Bloomberg, Bloomberg, the guy that owns this network thought that the Times Square bomber was just ticked off about health care, thought he was a Tea Partier. So these two hosts, they can’t sit there and let this stand. Matt Miller says, ‘Why do you think he’s intellectually dishonest? I mean keeping in mind he’s a politician, you have to compare him to other relative politicians.’ This guy said, ‘They’re all dishonest. What’s special about Obama?’

FABER: Yes, but some politicians are more honest than others. I have a higher regard for businessmen and for people who work and not for people who abuse the system continuously. I think that he came in on a platform as a president that would want to change the government in Washington and actually he has made it worse.

RUSH: So the cohost, Carol Massar, says, ‘To be fair, he came in at a time we were smack in the middle of a financial crisis, and it was tough to change the system. You laugh, you laugh, but he came in at a tough time. Maybe now he’ll start changing the system.’

FABER: You’re an optimist. Keep on dreaming. We foreigners, we just laugh, we just laugh about someone like Mr. Obama. I was very critical of Mr. Bush, but at least he had one line and he stuck to that line. He may have been wrong, and I criticized him very frequently, but at least he didn’t change his mind continuously and didn’t prostitute himself.

RUSH: Whoa! (imitating Faber) ‘He didn’t prostitute himself. We foreigners, we just laugh, we laugh about someone like Mr. Obama.’ I love this guy. Who is this guy? Marc Faber, the publisher of the Gloom, Boom, and Doom Report. Now, to show you, ladies and gentlemen, the new civility that we’re trying to practice here on the program, I must point out that all of these people in the financial business and in many other businesses, profit from forecasts of doom. These guys that have newsletters on Wall Street, their subscriptions skyrocket with every report that everything in your portfolio is gonna be worthless next week unless you sign up now. Now, this guy doesn’t sound like one of those, but I mean they’re out there. So that’s the new civility, how did that sound?

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