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Rick Santelli On Paul Krugman: "Never Heard Of Him"

Tyler Durden's picture




 

What can we say: Rick is one of the lucky ones. Of course, once we move beyond the sarcasm, here is what Rick Santelli says on the Krug's solution (and cause) to all of life's problems (that would be spend, spend, spend and then spend some more to the uninitiated): "How dare we take away their spending privileges, those chosen few with letters after their name who say the only problem with the medicine is that we didn't give a big enough dose." Luckily, Krugman already has set up the "Worst Economist In The World" column placeholder. We are just waiting for him to actually start discussing the most worthy candidate in the category....

Fast forward to 1:30 into the clip.

 

 

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Mon, 11/01/2010 - 10:00 | 690321 66Sexy
66Sexy's picture

Rick Santelli -- the father of the Tea Party

 

the rant heard 'round the world...

Mon, 11/01/2010 - 10:47 | 690504 THE DORK OF CORK
THE DORK OF CORK's picture

I am not impressed - the guy is obviously a bullshit artist that is suffering from some form of attention deficit disorder due to all those red lights moving back and forth.

He is just surfing the wave - he needs to profoundly question the nature of all those switches , lights and knobs.

www.youtube.com/watch?v=nCl6RCGkPuo  

 

Mon, 11/01/2010 - 19:04 | 691852 StychoKiller
StychoKiller's picture

Yeah, that Paul Krugman -- so easily hypnotized by his crib play toys!

Mon, 11/01/2010 - 11:41 | 690643 Ckierst1
Ckierst1's picture

Yeah, it was a good rant.  The only problem I have with your statement is that Santelli isn't the father of the Tea Party, Ron Paul is:

 

http://www.ronpaulsteaparty.com/

 

Hey, just sayin'!  I don't think it belongs to anybody now, except maybe the camo'd neocon zombies.  No, I don't expect a hell of a lot of real reform (cuts into big government budgets, departments, bureaucracy, TBTF enabling, killing the Fed, etc) out of the election.  Maybe eventually, and I'll keep the light on, but I doubt that most of the Tea Party crowd and its promoted candidates will do the things necessary to restore prosperity.  I don't think they are there yet.  I hate to think what it will take to get them there (if ever).  For openers, most of them aren't ready for Austrian School economics.  Maybe by 2012???  I can hope, can't I?

Mon, 11/01/2010 - 12:40 | 690857 Eureka Springs
Eureka Springs's picture

It's definitely owned in no small part by the billionaire Koch Brothers. And it's not a third party. Just how many of these folk on the ballot have the word Republican by their name and how many actually say Tea Party?

 

The tea party is a great con, filled with hate and self loathing.It's helping both criminal republicans and democrats hold onto power... just the "fear and loathing factor alone was worth it's weight in tonnes of gold for big pharma and insurance last year. Now it's banksters, MIC, and hedge funders who want to loot Social Security... with bipartisan support.

 

 

Mon, 11/01/2010 - 10:01 | 690327 lynnybee
lynnybee's picture

Oh, this does my heart good.  

Mon, 11/01/2010 - 10:05 | 690340 Careless Whisper
Careless Whisper's picture

the guy on the right has hilarious expressions

Mon, 11/01/2010 - 10:08 | 690356 pachanguero
pachanguero's picture

Why did rick say the Fed does not have to eliminated?  He IS NOT against ending the FED?  Why does he not get it?

Mon, 11/01/2010 - 10:14 | 690368 stoverny
stoverny's picture

Santelli is a blowhard clown in the Cramer mold.  Interesting that he barely mentioned the outrageous Fed reckless policies which were designed to save the big banks, decimate savers, and eventually destroy the US dollar.  Hardly a word about the massive fraud that led to the greatest transfer of wealth to the financial elite in world history.

No, he didn't rant until the government started talking about helping homeowners who were underwater.  I guess helping banksters get their bonuses back is OK, but helping homeowners calls for a revolution.

Typical CNBC shill, in a fake populist disguise.

Mon, 11/01/2010 - 10:30 | 690424 High Plains Drifter
High Plains Drifter's picture

Well look who he works for. If he said what is really on his mind, he would be walking the streets of Chicago with a  job wanted sign.

Mon, 11/01/2010 - 10:42 | 690480 66Sexy
66Sexy's picture

hell, they even gave him his own show for about a week there, until they pulled it.

tea party is actually a deviation away from what the original movement was: the truth/patriot movement.

these people do sound like morons, talking points surpisingly lead away from the basic pursuit of truth into republican agenda's... why?

to keep the lid on a 9/11 investigation, of course. the truth movement had to be consumed into a republican, mainstream media approved movement, who would rather not discuss the government cover up of 9/11.

Mon, 11/01/2010 - 13:18 | 690995 pachanguero
pachanguero's picture

Wrong!  I am a Tea Party member, Latino, anti illegal immigrant, gun owning, LIBERTARIAN, bush hating ALEX JONES FAN!

Fuck the Republicans and the Democrat party!  So maybe you better rethink your stereotype amigo!

Death to the New World Order.  Now is that Tea Party enough for ya?

Mon, 11/01/2010 - 11:03 | 690538 Steve Evets
Steve Evets's picture

What are you talking about, Santelli has been moaning about the bank bailouts since they were being designed. And I guess you've missed the various arguments he's had with Fed shill Liesman over the years.

Mon, 11/01/2010 - 11:12 | 690569 homersimpson
homersimpson's picture

Your comment reminds me of those libbies who complain Obama is not treated fairly by the media..

Mon, 11/01/2010 - 16:36 | 691567 halvord
halvord's picture

Fair And Balanced, baby!

Mon, 11/01/2010 - 10:18 | 690392 pachanguero
pachanguero's picture

OK, but helping homeowners calls for a revolution.""  Helping Homeowners?  Borrow money from China to help gamblers who lost a bet?

Fuck them!

 

Dude pass that shit over here.......I need a few hits too.

Mon, 11/01/2010 - 10:29 | 690418 Jim B
Jim B's picture

Said Perfectly!

Mon, 11/01/2010 - 10:43 | 690488 66Sexy
66Sexy's picture

gonna be legal after i vote tomorrow. feds can blow me.

Mon, 11/01/2010 - 10:57 | 690527 stoverny
stoverny's picture

did not say that bailing out underwater homeowners was a good idea, only that Santelli is a corporate shill like the rest of the blathering heads at CNBC.

He is representative of many in the tea party who think the entire financial collapse was the fault of irresponsible consumers buying houses they couldn't afford.  His money quote was "How many people want to pay for your neighbor’s mortgages that has an extra bathroom and can’t pay their bills?"  Typical fake-populist bullshit.  Wall Street peddled fraudulent mortages for a decade and got insanely rich off the fraud.  But of course we all know the REAL villains... people who added a 2nd bathroom to their house and then got laid off.

 

Mon, 11/01/2010 - 11:04 | 690544 Steve Evets
Steve Evets's picture

You clearly have only seen that 'Rant heard around the world' and nothing else.

Mon, 11/01/2010 - 11:24 | 690594 oldmanagain
oldmanagain's picture

Excellent summary of the most overrated commentator since Kudlow.

Mon, 11/01/2010 - 10:20 | 690394 pachanguero
pachanguero's picture

Rick at the end of the day is still a believer in the FED  DEATH to THE FED!  CNBC is financial porn.

Mon, 11/01/2010 - 10:24 | 690403 oldmanagain
oldmanagain's picture

Rick understands very little.  He is against what he doesn't understand.

Mon, 11/01/2010 - 10:29 | 690420 Jesse
Jesse's picture

 

Bread and circuses

Mon, 11/01/2010 - 10:30 | 690426 Insiderman
Insiderman's picture

Krugman holds a place for himself, after the demise of the Old Gray Lady.  HE is the worst economist in the world; an unapologetic Keynesian Hack unable to understand that one person's saving IS, ultimately, another person's consumption.

Mon, 11/01/2010 - 10:32 | 690436 Jim B
Jim B's picture

Krugman is a tool, voodoo economics!

Mon, 11/01/2010 - 11:26 | 690604 williambanzai7
williambanzai7's picture

And Santelli is a CNBC fool...tools for fools as they say

Mon, 11/01/2010 - 10:33 | 690443 High Plains Drifter
High Plains Drifter's picture

Good grief. Art Laffer and Reaganomics vs. Paul Krugman and Keynesian socialism?  Oh that trickle down economics really worked well didn't it?  This is nothing less than good cop, bad cop. Same old paradigm. Right vs. left. "Conservative vs. "Liberal"  blah blah, blah.

Mon, 11/01/2010 - 14:39 | 691258 linrom
linrom's picture

In his support for Bush's tax cuts, Laffer claimed that US was on the verge of balanced budgets and thus could afford to cut taxes. Laffer and Kudlow also popularized the theory in 2007-2008 that US economy was in perfect state- a Goldilocks economy. Why would anyone listen to Laffer? Oh that's right, he is also the force behind such economic nonsense as supply side and the Laffer Curve. 0-100!!!

Hey Santellibag, you want to ridicule an economic midget!

 

Mon, 11/01/2010 - 10:53 | 690518 crzyhun
crzyhun's picture

I'll take Rick in my corner as a cut man any day of the week, month or year over Dearest Leader's drones.

Mon, 11/01/2010 - 13:27 | 691025 streetman
streetman's picture

Amen

Mon, 11/01/2010 - 11:04 | 690542 ThaiKev
ThaiKev's picture

POMO

2.489B

S/A= 7.45

Mon, 11/01/2010 - 11:18 | 690574 blindman
blindman's picture

qe2

stealing in broad daylight,  just do it in an orderly fashion;

in small doses, billions or hundreds of billions, and routinely.

oh well.  the first and only mandate of the fed ...( they need more

authority in difficult ponzi end times. )    

what we need is an armed branch of the fed,  it should really have it's

own shadow militia and stop billing the american taxpayer for using

theirs.  

.

the question is who is the rightful authority of the money system. 

either you believe there is a place for government or you don't. 

if you believe there should be a government at all then that authority

must control the money system or become a slave.  the people then must control the

government or live as slaves.  anything else is tyranny. 

.

ps.  i hear bernanke is being advised by bernie madoff as we speak.  i say

let the man out and let him earn his redemption working at the fed where

he belongs. 

pps.  it is all just stealing and counterfeiting in broad daylight.

just wait until the authorities figure it out,  there will be hell to pay!

hehehehe 

ppss.  "no one speaks english and everything is broken." t.w.

Mon, 11/01/2010 - 11:18 | 690581 sweet ebony diamond
sweet ebony diamond's picture

I have to consider my opinion of Krugman. I never read any of his stuff except a couple recent blogposts.

Mon, 11/01/2010 - 11:37 | 690625 krugmaniswrong
krugmaniswrong's picture

Here's all you need to know about Paul Krugman


http://www.krugmaniswrong.com

Mon, 11/01/2010 - 12:05 | 690726 The Beav
The Beav's picture

Rick, what happened to ya?  You made your own kool aid and drank too much. 

Come Rick, talk about how 70% of foreclosures are on investors who used 125% leverage to buy and buy and buy properties then declare bankruptcy and walk away with only a little mark on their credit score, and not my neighbor (who is a really nice guy who works his ass off) for having an extra bathroom.

Mon, 11/01/2010 - 12:16 | 690764 Chart Skater
Chart Skater's picture

Never heard of Paul Krugman?  How can a financial media commentator not hear of Paul Krugman?  Goes to show that Rick Santelli and other talking heads in CNBC are idiots.

Mon, 11/01/2010 - 13:12 | 690974 Arthur Vandelay
Arthur Vandelay's picture

are you serious? uhhhhmmm sarcasm

Mon, 11/01/2010 - 13:20 | 691002 pachanguero
pachanguero's picture

Sarcasm is lot on you huh?

Mon, 11/01/2010 - 13:21 | 691004 pachanguero
pachanguero's picture

Sarcasm is lost on you huh?

Mon, 11/01/2010 - 13:30 | 691036 bugs_
bugs_'s picture

Way to GO Rick, every day is sh-t on Paul Krugman day!

Mon, 11/01/2010 - 13:44 | 691078 blindman
blindman's picture

Thomas  Jefferson said in 1802:
'I believe that 
banking institutions are more dangerous to 
our liberties than standing armies.
 
If the American people ever allow 
private banks to control the issue of their 
currency, first by inflation,
 then by 
deflation, the banks and corporations that will 
grow up around the banks will deprive the people 
of all property -
 until their children 
wake-up homeless on the continent their fathers 
conquered.'

Mon, 11/01/2010 - 14:40 | 691209 linrom
linrom's picture

Who watches CNBC other than trading desks jockeys? Who is Rick Santelli, and who would even care who this dork is! Several years ago when I was still foolish and watched CNBS, I would wonder who was that fast-talking moron who hyperventilated and worked up himself just to spew some news what some trade pit monkeys were thinking.

Mon, 11/01/2010 - 16:57 | 691619 Clint Liquor
Clint Liquor's picture

Keynesian Economics is dead. It succumbed to a long term illness diagnosed as 'Debt Saturation'. The corpse is starting to stink, but Krugman is still packing it around like Weekend at Bernies.

 

Mon, 11/01/2010 - 17:10 | 691641 deaglecat
deaglecat's picture

This clip descended into farce when the presenter was clearly confusing flagellation with fellatio.   Pure genius and prime time too.   

Tue, 11/02/2010 - 03:20 | 692572 themosmitsos
themosmitsos's picture

I strongly dislike it when you johnny-come-latelies deride Rick, now that he's explained to you what happened, because you don't understand what's he's explaining to you WILL happen.

I know some of the really smart readers here dislike him because of his theatrical personality, and ok--but you take a trader & put him on tv where he can't swear, vs all the other CNBC douchebags like Liesman, and this is what you get. But he is NOT Cramer !!!

Perhaps SOME of you are smarter & more cognizant [SOME of you are], but everything Ricky says is right, and you know it. You can't blame him for not going farther on tv, he's gotta fight & scream & act pompous to get through the simple info he puts out, imagine if he tried to really get into it! You sit there & talk to Carl Quinteilla for 3yrs & we'll see how YOU behave ! LOL.

Besides, he's basically one of 3 people I remember FREAKING about the inverted yield curve back when everything was just fine! Ridiculed then. Says hyperinflation & destruction because we NEED a recession now, ridiculed now. Because 99% of you have no fucking clue what the fuck you're talking about. The other 1%, come on guys, don't be pissy cuz you can do better. Just do us a favor & go on tv [they WON'T let you! LOL] :)

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