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Santelli Vs. Liesman; Broken Pipes, Trickle-Down Frowns, And 'Imaginary' Inflation

Tyler Durden's picture





 

In a little under seven minutes, the world of CNBC provided something for everyone in this epic confuse-a-rama between Rick Santelli, Steve Liesman, and Brian Sullivan. The president's jab at 'trickle-down' economics (with an eye to Bernanke's recent asset-wealth-inflation efforts) was the premise but went to an 11 on the Spinal Tap amplifier of self-deception. The question is initially well-posed and subsequently addressed by Santelli who describes the broken pipeline from the Fed to the bank's reserves that is not allowing trickle-down of Bernanke's largesse. Liesman argues that the lowering of rates helps borrowers (all the middle-class apparently) as they pay lower costs on their debt (seemingly ignoring the fact that Santelli just said the 'flow ain't happening' - and the fact that retail-to-wholesale mortgage spreads are at record highs). This is then followed by Sullivan with his insightful quip that the inflationary by-product of Bernanke is higher costs of food/energy which buffers the benefits of lower interest costs... and that is where Liesman goes into full-propaganda mode...

 

Perhaps Mr. Liesman should read our post from last night... on bubble blowing mechanics...

 

 


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Thu, 09/27/2012 - 17:04 | Link to Comment fuu
fuu's picture

FUCK YOU LIESMAN!

Thu, 09/27/2012 - 17:21 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

"...the inflationary aspects of gasoline and food."

Doesn't this sorry excuse for a journalist know that gasoline and food prices don't count?  Where is Bill Dudley when we need him to explain?

Thu, 09/27/2012 - 17:33 | Link to Comment ShortTheUS
ShortTheUS's picture

From a network that brought you Mark "Keynes" Haines (RIP) and Carl "Marx" Quintanilla, Rick Santelli is a welcome relief

Thu, 09/27/2012 - 18:10 | Link to Comment JPM Hater001
JPM Hater001's picture

After the collapse Im gonna buy a TV network.  This shit cant be that hard to get right.

Thu, 09/27/2012 - 18:30 | Link to Comment nope-1004
nope-1004's picture

How does someone, who knows nothing about the economy, get a job commenting about it and spewing his opinion over the airwaves?

More and more people are doing bankster "monkey see, monkey do" and becoming self-fullfilling frauds these days.

 

Thu, 09/27/2012 - 19:14 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

On a more controversial, but nonetheless important topic. I am wondering where the true point of humanity's trouble originates from. & as one might suspect, it very well may derive its origins from ancient civilizations.  As a point of first research, I would recommend looking up the Georgia guidestones and the Bablyonian Talmud http://www.sacred-texts.com/jud/t08/index.htm

http://jewishracism.blogspot.com/2009/06/as-above-so-below-jews-will-kil...

You should learn as much as you can about the jewish religion, why they do not breed with the 'goyim' (<-derogatory term for non-jews who are "like animals" (ie not human in jewish eyes)) and why they are likely going to be responsible for the destruction of the earth.

It is likely in our best interests to wipe them out: I cannot ignore their blatant racism, and cruel dominion. Is it time to kill the jews once and for all?

 

I mean not to injur your confidence or provoke wild hate or anger.  I simply mean that our problems should be examined and dealt with in a logical manner.

At this point in my research.  It is blatant that the jews control the entire banking industry, the central banks, almost all NGOs, and many of the global corporations.

These industries and entities are the bane upon our progression into something greater.

& to top it off, the jews appear to actively worship the devil and quite often, in secret, advocate the mass genocide of all "Goyim".

Seeing as the jews actively promote racism, and do not see the "goyim" as fit "breeding stock"

Seeing as the jews have actively moved to control all of society

& seeing as the jews have turned this control and power into pure hate and destruction...

 

Isn't it time we killed off this detriment to humanity, once and for all? 

 

(&, if you do not believe my accusations:  I encourage you to study who controls the world's power (ie banks, ngos, and corporations).  Then begin researching the jewish religion and all of its hate speech, and blatant worship of the devil...  It's very blatant.  Very. blatant.  Since you all claim to be awake, I think you should consider this point a new area of research.  Keep an open mind please.)

Thu, 09/27/2012 - 19:15 | Link to Comment lakecity55
lakecity55's picture

more accurate if you use "Zionists."

Thu, 09/27/2012 - 19:36 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

Nevertheless, the jewish race as a whole worships the devil...  I find this oddly disturbing.  & even more oddly, I find that the jews within my own anecdocal perspective, appear to have the same money grubbery and domineering, genocidal attitude as what I witness in global finance and politics.  Why is it exactly, that I have gone through life never questioning why the Jews ONLY marry and breed with other Jews?  Isn't this an important question?  That this shows blatant racism and shows a complete and unified disgust for the "goyim"

I am not sure how to view this, but with every passing hour of everyday I spend diving down the rabbit hole, the solution becomes more and more clear... Us or them; metaphorically, or perhaps metaphysically speaking- God or the Devil. 

Personally, and I'm just postulating a guess here lol XD.  The world as it is run- by jews- is pretty much a dogshit version of hell where we poison the earth and rob the slaves.

& I'ma just throw out another guess here, a world with "god", whatever that may be, is probably going to be... actually enjoyable and a worthwhile endeavor.  & it will likely be unstoppable...

Thu, 09/27/2012 - 19:41 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

mind you I'm also the guy that told all you poor goyim shmucks to buy bdsi @ 2, crm @ 100, 3d printer stocks, gun stocks, gold on lows, and oil at 80.  Fuck it man, I'm the alpha and the omega, and when I start questioning the jewish dominance of the world, lol, you had better get on fucking board and do some fucking research.  Seriously- I am almost never wrong and its pretty freaky.

Thu, 09/27/2012 - 21:10 | Link to Comment Thomas
Thomas's picture

The whole thing makes me nauseous, except Amanda.

Fri, 09/28/2012 - 02:23 | Link to Comment dogbreath
dogbreath's picture

it would be pure comedy if they were at least funny.   couldn't listen to that shit

Thu, 09/27/2012 - 19:50 | Link to Comment Chuck Walla
Chuck Walla's picture

Isn't it time we killed off this detriment to humanity, once and for all? 

Margaret Sanger, call your office, someone besides Heydrich and Adolph wants a shot at your Theory of Eugenics. Cue George Bernard Shaw calling for a "Gentlemanly Gas to kill the world's undesirables and crippled"

 

FORWARD SOVIET  und der Third Reich!

Thu, 09/27/2012 - 20:07 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

Lol.  That is already the plan...  http://educate-yourself.org/cn/johncolemangoalsofIlluminati.shtml

A world with god? is a world where the meek and "undesirables" die off on their own accord.

The world today?  This is the part where the jews weaken and fatten up the gentiles, put mercury and lead and flouride in the drinking water, and turn all of the undesirables into slaves.

Dude...  Pretty much anything is better than where we are, and where we are headed- 1984 distopian slavery and mass mind control of the goyim- this shit makes hitler look like a fuckin pussy.

Thu, 09/27/2012 - 20:37 | Link to Comment LasVegasDave
LasVegasDave's picture

"Keep an open mind"

LOL!

Useful idiot, I have 1000s of rounds of 7,62 for people like you.

you will both change shape and catch fire in the new republic.

 

Thu, 09/27/2012 - 20:44 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

Gotta love it when beta muppets make void threats of violence to backup their idiocy.  Its the story of the slaves.

No matter how the singularity unfolds.  The beta loses this dogfight.  So cling to your egos, fear, and greed, while the alphas and omegas rise.

http://www.youtube.com/watch?v=L9lmTrCBXyw&feature=BFa&list=FLb5msS4NzVA...

Thu, 09/27/2012 - 21:12 | Link to Comment LasVegasDave
LasVegasDave's picture

schvatze?

Must be.

Thu, 09/27/2012 - 22:24 | Link to Comment Muppet of the U...
Muppet of the Universe's picture

Eskimo

Thu, 09/27/2012 - 23:46 | Link to Comment hannah
hannah's picture

Muppet of the U... - i don't think you get lasvegasdave's meaning….7.62 trumps anything you have when you are standing out in the street. alpha beta right or wrong…he will win…and if he is taken out there are a thousand more with 7.62.

7.62 will win….

Thu, 09/27/2012 - 22:10 | Link to Comment dougngen
dougngen's picture

You gave away your true identity with the phrase " progress"

douchebag

Thu, 09/27/2012 - 18:14 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

Is Bernanke pushing lending rates to zero to make up for the fact that income has flatlined...???

Why not just let consumers borrow money at 0% from the Fed so they can juice the economy...???

It is a bank, right...???

It doesn't have to make a profit.

It will never require a bailout.

It can lend endlessly, right...???

Thu, 09/27/2012 - 18:44 | Link to Comment GeezerGeek
GeezerGeek's picture

Why not let consumers borrow at NIRP? On a long enough time scale the debt disappears.

Thu, 09/27/2012 - 19:41 | Link to Comment Everybodys All ...
Everybodys All American's picture

Debt disappears as will social security, the bond market, etc. Life in general as we know it.

Thu, 09/27/2012 - 21:18 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

But of course, in order to get that money at 0% to 0.25%...

 

It's not what you know, it's who you blow!

Thu, 09/27/2012 - 18:25 | Link to Comment beachdude
beachdude's picture

Aside from Rick Santelli, virtually all cnbc "reporters" are well paid shills along with the Mike Normans and Tom Adkins of the fox MSM fantasy world.
No honor. No integrity. No morality. No shame.
I mute the sound and watch for Santelli and any commodities news.
Too bad this show was taken off the air:
http://upload.wikimedia.org/wikipedia/commons/thumb/1/1b/RCA_Indian_Head...

Thu, 09/27/2012 - 19:54 | Link to Comment Chuck Walla
Chuck Walla's picture

No honor. No integrity. No morality. No shame.

What a bunch of fucking Nancy's!

The checks cash the same. Jesus, it's all you need to realize. ITS A GIGANTIC PLAY, the actors get paid. All media is trying to sell you something.

FORWARD SOVIET!

Fri, 09/28/2012 - 02:28 | Link to Comment SheHunter
SheHunter's picture

Santelli is just another CNBC actor paid to act the renegade bad boy.  Wake up- there're ALL actors.  Including self-righteous Santelli.

Thu, 09/27/2012 - 18:53 | Link to Comment sgorem
sgorem's picture

THE ONLY THING THAT REFERS TO "TRICKLE DOWN" ABOUT MR. LIES MAN WAS ABOUT HOW THE BEST PART OF HIM TRICKLED DOWN THE INSIDE OF HIS MAMMAS LEG ABOUT 45 OR SO YEARS AGO. AMEN.

Thu, 09/27/2012 - 23:48 | Link to Comment hannah
hannah's picture

leisman was a product of a rape...! my god people have some sensitivity. it isnt easy when your mamma was raped by a goat.

Thu, 09/27/2012 - 19:24 | Link to Comment Sphinx_www
Sphinx_www's picture

Obviously Liesman reads this blog. How do I know? There is one negative rating on the first post. He he he.

Thu, 09/27/2012 - 19:37 | Link to Comment azzhatter
azzhatter's picture

LIESman has bernanke jizz all over his face. He is a master fucktard and one of my candidates for the first vacant lamp post in NYC. Fucker would make Goebbels blush

Thu, 09/27/2012 - 20:16 | Link to Comment The Shootist
The Shootist's picture

But at least he doesn't work for government or make policies. He is just a reporter of sorts.

 

Some reporters with influence can stir the pot though.  =/

Thu, 09/27/2012 - 20:02 | Link to Comment steelhead23
steelhead23's picture

Liesman should have been an NFL ref scab.  He gets every call wrong, but doggone it, he is real confident in those bad calls.

Thu, 09/27/2012 - 20:29 | Link to Comment TruthDetector
TruthDetector's picture

FUCK YOU LIES-MAN!

FUCK YOU AND THAT MONKEY-FUCK YOU LIE FOR, LIES-MAN!

Thu, 09/27/2012 - 20:30 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Liesman needs to get laid plain and simple. Who expects a 50 year old bald virgin to tell the truth about anything ?

Thu, 09/27/2012 - 20:46 | Link to Comment Jumbo Shrimp
Jumbo Shrimp's picture

My new response for everything - going forward! 

 

Thu, 09/27/2012 - 17:05 | Link to Comment ebworthen
ebworthen's picture

They don't call him Steve LIESman for nothing.

Thu, 09/27/2012 - 17:43 | Link to Comment Daily Bail
Daily Bail's picture

This is today's must see clip.  Seriously.

'OBAMA HAS MY VOTE, HE GAVE ME FREE OBAMA PHONE'

Thu, 09/27/2012 - 18:58 | Link to Comment nmewn
Thu, 09/27/2012 - 19:02 | Link to Comment Clint Liquor
Clint Liquor's picture

Here is the website to see if you qualify for a free Cell Phone with 250 minutes free per month.

http://www.freegovernmentcellphones.net/

Thu, 09/27/2012 - 19:12 | Link to Comment ebworthen
ebworthen's picture

I was thinking about buying a new car, a cheap little four-banger with a 100,000 mile warranty.

But then I realized that if I did I wouldn't qualify for the freebies like EBT, Medicaid, Cell Phone, etc.

I'm still on plan "A", but I can't defeat plan "C" by having a car worth more than $8,000.

Besides, I'd have to pay the State taxes on the damn car to buy it, and more each year.

No new car for me Unlce Sam (Phil LeBeau, paging Phil LeBeau).

Thu, 09/27/2012 - 19:13 | Link to Comment Harbanger
Harbanger's picture

Howard Stern Exposes Obama Supporters 2012 (Official)

http://www.youtube.com/watch?v=SeJbOU4nmHQ

Thu, 09/27/2012 - 19:26 | Link to Comment kaiserhoff
kaiserhoff's picture

Thank you sir.  As Studs Turkel said "Life it's own self."

Thu, 09/27/2012 - 20:15 | Link to Comment steelhead23
steelhead23's picture

OK, that hurt.  Those people are dumb.  Me, I's support Obama cause he's Manchurian ans I's knows dat Manchurians make the bes canidates.  Damned good cannabis too!

Thu, 09/27/2012 - 19:13 | Link to Comment KIPPY KAPPSLOCK
KIPPY KAPPSLOCK's picture

And if you bring your attention to the left side of the bus we can see the ape in its natural habitat.  

Thu, 09/27/2012 - 19:51 | Link to Comment El Oregonian
El Oregonian's picture

This is ironic and symbolic of this PHONY president!!!

Thu, 09/27/2012 - 23:52 | Link to Comment hannah
hannah's picture

'keep obama in president'

 

good god help us. this country has been taken over.....

Thu, 09/27/2012 - 19:19 | Link to Comment Solon the Destroyer
Solon the Destroyer's picture

I wonder which one of these yahoos as the brains to figure out that those that can access new debt at lower rates crush those on old debt at higher rates?

I wonder which one of these dumbasses has the neurons to figure out that no one really wants new debt at the new rates if future debt is likely to be accessed at even lower rates?

I wonder which one of these blockheads will be the first to realize that perpetually falling interest rates creates runaway capital destruction throughout the real economy?

I wonder which one of these numb-nuts will eventually figure out that The Fed has created a trap where they're fucked if they do and fucked if they don't.  Raise rates, and there's both a bond revolt and a sovereign crisis.  Lower rates and drive the economy into the ground.  (Now that's some horns on that "bull".)

At least the guys holding tranches of Option ARMS are happy about the resets at the low rates...  Wait a minute, that's the Fed themselves you say?

Thu, 09/27/2012 - 17:07 | Link to Comment CPL
CPL's picture

All three people left in the middle class are doing great....totally Agree with Liesman.

Thu, 09/27/2012 - 18:03 | Link to Comment JPM Hater001
JPM Hater001's picture

Oops.  I just fell out.  Now there are 2.

Thu, 09/27/2012 - 18:48 | Link to Comment GeezerGeek
GeezerGeek's picture

I was middle class until I went shopping for gasoline and food this morning.

Thu, 09/27/2012 - 17:07 | Link to Comment Debtonation
Debtonation's picture

100 years from now, people are going to laugh at the ignorance of contemporary economics---if we survive that long.

Thu, 09/27/2012 - 18:06 | Link to Comment Anusocracy
Anusocracy's picture

They're going to laugh at the gullibility of voters.

If we can survive that.

Thu, 09/27/2012 - 17:07 | Link to Comment Snakeeyes
Snakeeyes's picture

Leisman is a complete fool. Santelli is right. Reserves are captured by the banks (since regulators won't let them lend on housing). Hence M2 Money Velocity STINKS! No transission, little inflation.

http://confoundedinterest.wordpress.com/2012/09/27/bad-economic-news-q2-gdp-slumps-to-1-3-durable-goods-orders-crash-13-2/

Thu, 09/27/2012 - 17:35 | Link to Comment TheCanadianAustrian
TheCanadianAustrian's picture

Low money velocity is the only thing saving America from complete financial armageddon. Get a clue.

Thu, 09/27/2012 - 20:00 | Link to Comment TWSceptic
TWSceptic's picture

No one wants to lend money anyway in a shitty economy, you may not get it back. Besides, why lend to high risk groups like small businesses and individuals when you can lend to "safe" government? These idiots need to learn about crowding out.

Thu, 09/27/2012 - 17:12 | Link to Comment fourchan
fourchan's picture

he is an idiot, time will prove me right on this point.

Thu, 09/27/2012 - 17:54 | Link to Comment AGuy
AGuy's picture

"he is an idiot, time will prove me right on this point."

No need to wait into the future. Its obvious hes an idiot, immediately. CNBC is like pro wrestling. Don't believe for a minute it real. Its a show put on for entertainment and has no redeeming value, especially for investing.

 

 

Thu, 09/27/2012 - 17:14 | Link to Comment LongOfTooth
LongOfTooth's picture

Imo Liesman is a tool and I wouldn't watch this shit even if you paid me.

 


Thu, 09/27/2012 - 17:17 | Link to Comment Blasé Faire
Blasé Faire's picture

Wow.  That woman is clearly just there as eye candy.  "What do you think about that!?" Thanks for that contribution.

Why not have her walk by like boxing girls before each person makes their point?

But, she seems like a nice lady.

Thu, 09/27/2012 - 18:04 | Link to Comment HeliBen
HeliBen's picture

Can't tell if you are complaining...

Thu, 09/27/2012 - 20:09 | Link to Comment larz
larz's picture

ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Thu, 09/27/2012 - 18:31 | Link to Comment ebworthen
ebworthen's picture

More cleavage Mandy, and less pasta.

Thu, 09/27/2012 - 19:12 | Link to Comment lakecity55
lakecity55's picture

I'd watch the channel if she diddled herself on air.

Thu, 09/27/2012 - 19:46 | Link to Comment knukles
knukles's picture

Yeah...................

I had been thinkin' that her IQ and weight don't really matter, it's more about the oral end of things...

But I do like your idea.

Send her a note

#mandyfingerdiddles@cnbs.whoopieshits

Thu, 09/27/2012 - 19:40 | Link to Comment azzhatter
azzhatter's picture

Mandy has porked up a lot since moving to amerika

Thu, 09/27/2012 - 20:22 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Did you mean to leave the word "up" in there...?  (Either way works.)

Thu, 09/27/2012 - 19:04 | Link to Comment knukles
knukles's picture

Some tripe from CNBS once described her as with an IQ the size of QEinfinity.

Fri, 09/28/2012 - 01:57 | Link to Comment vato poco
vato poco's picture

"That's a very good point, Rick. Mandy, show everybody your tits!"

Thu, 09/27/2012 - 17:16 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Wages matter you dumb fucks.  Infinite growth in a finite world?  Try again fuckers.

Thu, 09/27/2012 - 17:28 | Link to Comment razorthin
razorthin's picture

I think the biflation (deflated wages with inflated real costs) caused by the fed's largesse is certainly killing us, if that's what you mean.

Thu, 09/27/2012 - 17:58 | Link to Comment AGuy
AGuy's picture

"I think the biflation (deflated wages with inflated real costs)"

You mean stagflation, which is what we are experiencing, rising unemployment, underemployment and rising essential commodity prices (food, energy, PM's, bullets, etc).

Thu, 09/27/2012 - 17:53 | Link to Comment RSloane
RSloane's picture

Hell yes wages matter. What happens when wages are sinking, or nonexistant, and inflation is palpable every time you walk into the grocery store or pay your energy bill or fill up your car with gas. If you are paying 35$ more for simple basic groceries and you get a 5$ raise, do you celebrate? If you get knocked back to part time how do you tell your kids "Sorry, we can't fucking afford cereal anymore."

Every time someone says productivity is up that means another worker[s] got kicked down but the business and its shares are worth more. This is insane.

Thu, 09/27/2012 - 17:20 | Link to Comment Squid Vicious
Squid Vicious's picture

lies-man needs to be hung, the better for almost everyone in the world...or is it hanged? either way = dead

Thu, 09/27/2012 - 18:28 | Link to Comment ebworthen
ebworthen's picture

No need.

He is the delusional believer type that will be the first "jumpers" when the real SHTF.

Thu, 09/27/2012 - 17:19 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Verbal WWF. Amusing.

Thu, 09/27/2012 - 19:10 | Link to Comment blunderdog
blunderdog's picture

Watching that clip helps me realize why shows like Dancing with the Stars and Jersey Shore are so popular.

Thu, 09/27/2012 - 17:24 | Link to Comment ebworthen
ebworthen's picture

Refinancing means you pay fees and points and extend your debt out for a longer period of time; another debt to solve a debt crisis Keynesian counter-intuitive rabbit hole.

Lower rates on debt doesn't give you extra income, and extending the debt doesn't give you more money - only the perception of it - which means people spend rather than save.

The entire premise of the FED is what is broken; it is a tool to benefit banks and politicians.

A centrally planned tightening or loosening of the money supply and the jiggering of rates simply defeats market forces, misallocates capital, and doesn't do a goddamned thing for employment.

Thu, 09/27/2012 - 19:17 | Link to Comment Encroaching Darkness
Encroaching Darkness's picture

Not always, apparently ...

I refinanced a year or so back (Jan 2011) and got a lower rate. This was about the time Robosigning was big in the news, and I figure that my bank had packaged my mortgage into some kind of MBS, lost track of the paperwork, and no longer had a clear chain of title. They refinanced me into a lower rate, little paperwork, went from variable to fixed-30, and I wound up with no fees, no points.

I really don't expect to pay out this new 30-year fixed note, and I doubt they expect me to; I think this was simply an exercise to renew the chain of title, so that when the time comes we can both get out of the deal, with them not losing too much (like the whole mortgage, lacking a wet-ink note to produce) and being able to facilitate them getting their part out (I'm about 50% paid-in) when it comes time to sell.

I didn't really want to keep this house past this next year or so, and really benefitted from the lower rate / monthly pmt. I might have been able to pull it out free and clear, but then you never know, since I actually pay my monthly charge in full when due, I'm probably like in the 1% of home buyers in America who aren't underwater, aren't behind in payments and look like it might stay that way a while.

I'll almost certainly sell it next year (assuming there's any bid!) and buy somewhere else; the note's gone, the house goes to a new buyer and I find someplace quiet to ride out the storm (if it holds off that long). But I agree with you about the FED, but lowering the monthly note does give you more wiggle room to keep your own personal Ponzi going a while longer.

Thu, 09/27/2012 - 17:23 | Link to Comment Skyprince
Skyprince's picture

Let me see....Liesman works for CNBC, owned by GE and GE is a BIG winner in the "extend and pretend" game propogated by the Fed, Obama, and most of Congress.  Six media companies serve 80% of viewers/readers today where it was 50 media companies serving that 80% in 1983.  Yes, Liesman is definitely a "tool," and alternative media is not being heard or seen.  Hail to Zero Hedge!

 

Thu, 09/27/2012 - 17:43 | Link to Comment Winston Churchill
Winston Churchill's picture

Go a little further down the mad hatters hole.

The same few  people using shell companies,own GE,the banks ,the Fed,the politicians,

and nearly everything else.

Your point again ?

Thu, 09/27/2012 - 17:24 | Link to Comment Cursive
Cursive's picture

Steve Liesman's comments remind me of Bull Connor's defenders.  Sychophancy.  I'm pretty sure I could erase that smug look on Liesman's ugly mug.

Thu, 09/27/2012 - 17:27 | Link to Comment Banksters
Banksters's picture

The whole banking system is parasitic and every good parasite knows they shouldn't kill their host. But for the sake of argument, it only makes sense that failing banks have access to zero percent cash and other sweet heart deals.

Thu, 09/27/2012 - 17:30 | Link to Comment RSloane
RSloane's picture

Liesman even screwed up his propaganda line while tripping over himself to shoulder-check Santelli. "Hurting savers...no hurting borrowers...no hurting savers..."

Last week, Liesman was stating that the Fed had plenty of tools in their toolbox, now he says the poor poor Fed has very limited things they can do. And of course trickle down is not the aim of the Fed strategy. It was never designed to help anyone but the rich.

Thu, 09/27/2012 - 17:39 | Link to Comment Dr. Engali
Dr. Engali's picture

That's right. Those closest to the freshly printed money get the benefits. For everybody else it's inflation.

Thu, 09/27/2012 - 17:32 | Link to Comment cabtrom
cabtrom's picture

Hahahahah, Leismen reminds me of a Chinese finger trap. I know he's sucking Benny's cock I'm just not sure who's fuckng him in the ass, lol.

Thu, 09/27/2012 - 17:41 | Link to Comment Seasmoke
Seasmoke's picture

Geithner , of course !

Thu, 09/27/2012 - 17:32 | Link to Comment Dr. Engali
Dr. Engali's picture

Liarman is just a fool. The fed isn't helping borrowers. The people who need the money can't get it and the people who can get it don't want it. I knew they would use the downtick to say money printing wasn't inflationary,nevermind the fact oil prices ran up because everybody was front running the fed.

Thu, 09/27/2012 - 17:40 | Link to Comment RSloane
RSloane's picture

I don't think he is just a 'fool'. I think he is deliberately spreading propaganda and disseminating disinformation. I'll agree with you on this, if he actually believes his bullshit then yes, he's a fool, but a very well-paid fool.

 

+1 for you Sir, I completely agree with the rest of your post.

Thu, 09/27/2012 - 17:57 | Link to Comment jcaz
jcaz's picture

I don't think he's smart enough to realize he's a tool for propoganda-  he's a journalist with no job prospects beyond what he's currently engaged in-  no real market experience, virtually unemployable beyond any figurehead Economist job....  Oh, except that Liesman just has a Journalism degree.....

Liesman has an easy tell- when he's in the wrong, he gets loud and defensive, without making any sense.  He's unable to deliver a decent rebuttle, and Santelli realizes that he's just a GE tool-  might as well yell his side of the story, rather than engage Liesman directly.

Thu, 09/27/2012 - 18:52 | Link to Comment RSloane
RSloane's picture

That would be on a profoundly retarded level kind of 'not smart'. He used to be called CNBC's chief economist until it dawned on CNBC that Liesman had no fucking clue what he was talking about re the economy and it made them all look more stupid than they wanted to appear.

Liesman is always loud and defensive with that Mr Potatohead smirk on his face. One guest, it was the former TARP overseer that junked both TARP and the Obama Administration, finally leaned back in his chair and said, "When you're ready to stop screaming at me and interrupting me, I'll answer your question." Worst interview I've ever seen anywhere.

Thu, 09/27/2012 - 20:17 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

"Smart" is overbought.  Give me a common-sense person with INTEGRITY over all those ivy league a**wipes any day.  Any supposed "smart" person who sells out because they are "afraid" to be a free-thinker is nothing more than a worthless slave who feigns a smile all day, ever fearful of losing his or her "standing."  It's a pathetic display in my view.

Thu, 09/27/2012 - 20:20 | Link to Comment The Shootist
The Shootist's picture

He isn't their chief economist anymore? Ah, that's dissapointing -at least they still send him to Jackson Hole Bunga Bungas.

Thu, 09/27/2012 - 20:47 | Link to Comment lotsoffun
lotsoffun's picture

they are all complicit - and they know what they are doing.  they are wasting your time and money.  just turn it off.  get on with your own life.  24/7 of 500 stations - how much content is there?

i saw one 'reality' show recently of some guy is a dog catcher in florida.  really?   don't even get a life, just get a dog and walk it.

 

Thu, 09/27/2012 - 17:36 | Link to Comment aztrader
aztrader's picture

Liesman doesn't have a clue.   The percentage of people that would qualify for a refi or purchase is so small that its greater then his IQ.

He is a government mouthpiece for the fed and wallstreet.  Everytime I see is face, the TV goes off.   The most annoying prick on TV.

Thu, 09/27/2012 - 19:02 | Link to Comment Everybodys All ...
Everybodys All American's picture

Liesman is not stupid. He is simply a liar and mouthpiece for the Fed and this administration. The US Propaganda Ministry = CNBC.

Thu, 09/27/2012 - 20:42 | Link to Comment lotsoffun
lotsoffun's picture

i'm so silly.  but, i guess that has to be lots of fun.  and yes, liesman and all his pals know very well, they are stealing from other people, and by lying to them, hoping to be able to steal more.  at times, there were issues about morality and ethics.  every religion has teaching about being a better person.  and - that's where we are.  those people laugh at any idea of golden rule or do unto others.  hooray for me - and see you getting evicted in bankrutcy court.  they do know what the are doing, and they've decided that is the best thing for them.  (which they also know disregards everyone else).

 

Thu, 09/27/2012 - 20:12 | Link to Comment mayhem_korner
mayhem_korner's picture

The percentage of people that would qualify for a refi or purchase is so small that its greater then his IQ.

 

Correct (and great slam, too).  The retail-wholesale mortgage spread is so wide because there is not enough equity in folks' homes to refinance.  If there was...and folks went to refinance and took a little extra out, the increased money velocity would finally convert the Fed's MBS feast into mega-inflation. 

They are stuck pigs, they are.

Thu, 09/27/2012 - 17:38 | Link to Comment knukles
knukles's picture

I used to work at a place where we had a bazillion Liesmans... all the equity geeks.  Us bond weenies were the Santelli's  (He's a bond guy, a kindred spirit)

They neither appreciated us nor paid us enough.
So we all left.

 

 

Thu, 09/27/2012 - 17:39 | Link to Comment Seasmoke
Seasmoke's picture

did Liesman actually say, even if its True its NOT True ????????????????????????????

Thu, 09/27/2012 - 17:42 | Link to Comment Perdogg
Perdogg's picture

Using low inflation numbers to justify QE-infinity is like using a lack of an initial addiction to heroine to justify shooting heroine.

Thu, 09/27/2012 - 17:42 | Link to Comment Tango in the Blight
Tango in the Blight's picture

got me a movie
i want you to know
slicing up eyeballs
i want you to know
girlie so groovy
i want you to know
don't know about you
but i am un chien andalusia
wanna grow
up to be
be a debaser, debaser

got me a movie
ha ha ha ho
slicing up eyeballs
ha ha ha ho
girlie so groovie
ha ha ha ho
don't know about you
but i am un chien andalusia

debaser

http://www.youtube.com/watch?v=0P3lhrwio-M

Thu, 09/27/2012 - 20:24 | Link to Comment Cathartes Aura
Cathartes Aura's picture

why watch teeeeeeveeee, when you could be listening to great music?

pixi-elated.   hahahoho.

Thu, 09/27/2012 - 17:46 | Link to Comment Temporalist
Temporalist's picture

If it were up to some "economists" they would require every single person on the planet incur debt continuously through each moment of their existence from birth to death and THAT would make everything perfect.  An ever expanding population with ever increasing debt and ever debasing currency.  That is true wealth.

 

Debtfinity.  Perfection.

Thu, 09/27/2012 - 17:49 | Link to Comment Tombstone
Tombstone's picture

The Dictator believes in trickle down poverty.  The numbers support this; more food stamps, less people employed, more on disability...Liesman is in the tank for the Dems.  At least Ricky has the rocks to tell it like it is.

Thu, 09/27/2012 - 17:49 | Link to Comment sansnobel
sansnobel's picture

You wanna see some trickle down?  Tell congress to get to the chopper and rain down tax breaks and drop my income tax liability to Romney's level.  What it needs for funding it can apparently borrow it for 0% from Benny Bucks aka Chairsatan.  That will get it into the common mans hands to give the Keynesians their aggregate demand they have sought for the last fucking 5 years.  The fucking banks are just jerking themselves off with it in reserves earning .25 %  from Chairsatan.  If that doesn't generate some fuckin velocity nothing will.

Thu, 09/27/2012 - 19:00 | Link to Comment razorthin
razorthin's picture

Sure, for a few tenths of a second.  Any aggregate demand in this already inflationary environment will doom any uptick in the economy out of the gate.  It would be like jumping as high as you can off the edge of a cliff.  Aggregate consumer wages could never rise fast enough (which their employers would never do anyway), nor could the Fed pull out fast enough (which it won't even try anyway - it's a no-win).

Thu, 09/27/2012 - 17:50 | Link to Comment Translator
Translator's picture

There's no such thing as a liberal media......

 

 

George Stephanopolis and Elliot Spizter said so on their Mainstream Media Shows

Thu, 09/27/2012 - 19:09 | Link to Comment lakecity55
lakecity55's picture

CNBC operates in the imaginary world of whatever Blowbama wants them to say.

MSNBC and CNBC should join and call themselves ShillNBC.

Thu, 09/27/2012 - 19:10 | Link to Comment Everybodys All ...
Everybodys All American's picture

Good old George Stephanopolis rose to early prominence as a communications director for the 1992 U.S. presidential campaign of Bill Clinton, subsequently becoming White House Communications Director then Senior Advisor for Policy and Strategy before departing in December 1996.

Just think Jay Carney is going to be your future ABC news talent if they are still around.

Thu, 09/27/2012 - 17:52 | Link to Comment SheepleRUs
SheepleRUs's picture

Liesman is such a tool.  I can't even finish the video or I may throw something at my screen, which I need for work tonight, so I can help "tickle" money down to the poor.

Thu, 09/27/2012 - 17:52 | Link to Comment alien-IQ
alien-IQ's picture

just....fucking....IDIOTIC!!!!!!!

Thu, 09/27/2012 - 17:57 | Link to Comment sansnobel
sansnobel's picture

Speaking of trickle down....that reminds me of how I have always wanted to take a huge piss right in that uppity Steve Liesman's face.

Thu, 09/27/2012 - 18:00 | Link to Comment WoodMizer
WoodMizer's picture

Santelli should not be included in the title of this clip; Liesman, and the other purveyors of bull monopolized the time, like drunk sorority chicks on spring break.  The MSM has realized that Sentelli brings in viewers, and they are trying to put his name on all manner of bullshit.  As a result, Santelli is outed as controlled opposition and the MSM is forced to mitigate damage by limiting his time, just like RP.

The MSM is losing the ability to ridicule outsiders beacuse their ad revanue depends on us.  My how things have changed since 2010; I am looking forward to 2013 even if TSHTF.

Thu, 09/27/2012 - 18:00 | Link to Comment Yen Cross
Yen Cross's picture

Santelli and Sully pulled a "clipper" on Liesman.  The only pipeline Liesman understands, is the one straight to Bernankes zipper!

 Liesman seems devoid of understanding, when it comes to inflation. I had to do a few neck thrashing "whiplashes" when that segment ran 'real time' earlier.

Thu, 09/27/2012 - 20:35 | Link to Comment lotsoffun
lotsoffun's picture

it's all the same as watching espn 1 2 or 3.  a stupid shout down by morons for morons.  and morons are running the shows and morons are watching it.  it is unfortunate for the few american people that aren't morons, but i guess i'll survive in one way or another as will the others.

it simply amazes me how much 'america' spends it's entire life eating 'food' that is a copy of a copy while watching t.v. or driving the biggest vehicle possible (and now while texting) so that they can shop and buy more.

how much dumber can we all get?

Thu, 09/27/2012 - 18:09 | Link to Comment dadichris
dadichris's picture

Dear Fed; I'd like to borrow $500M for "assorted business activities" please.  Trust me, I'm good for it.  Especially at 0% interest.  Any why bother with a middle-man anyway?

Thu, 09/27/2012 - 18:09 | Link to Comment God Bless The V...
God Bless The Virtuous's picture

Liesman is a smart economist, same as Ron Insana.

But both have turned into spokesmen for this abhorrent un"Free Market" intervention into the "Capitalist System!",

which has been hijacked and perverted to the gain of a few!

This will cost the working man / woman a generation of their children,

who will never attain our once mighty standard of living!

This QE and the total re-working of our way of even thinking is so much bigger,

and these men who could be loud and proud with the real impact of this "Fed Supported Bubble!"

The ramifications of which are about to be unleashed on an unsuspecting / (unwilling to remember 2007 / 2008) investor / public.

 

As Allan West said,

his response,

what he would have said, as compared,

to what Obama said yesterday at the U.N.!

 

From a great American,

Allen West;

 

"The future does not belong to those who attack our embassies and consulates and kill our Ambassadors.

The angel of death in the form of an American Bald Eagle will visit you and wreck destruction upon your existence!"

 

Thank you sir!

Stand up and ask what the fuck is going on with the media today?

 

God save the republic!

And a pox on the houses of all who would knowingly spew that garbage(yes you and Ron, Steve!) and all the rest who pervert the system of fairness and mutual respect that our republic stands for!

Thu, 09/27/2012 - 18:24 | Link to Comment Yen Cross
Yen Cross's picture

 Ron Insane[a] is a crony meatball nutbag. He used to do financial segments on a local tv station, and is a wannabe [Financial Planner], not an economist. Not that I lend much credence to economists either.

Thu, 09/27/2012 - 19:39 | Link to Comment jcaz
jcaz's picture

Riiiiight..... Ask Ron how his stint as a hedge fund manager is going.....  Oh yeah, he blew that up in 4 months.....  Now he picks up $200 checks for visits to the CNBC set.... 

Thu, 09/27/2012 - 18:17 | Link to Comment “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

Liesman is simply an obnoxious Jew.  The reason these scoundrels have been hated and villified for thousands of years is because of the obnoxious gene this little asshole inherited from his obnoxious forebears.

Thu, 09/27/2012 - 18:21 | Link to Comment Eally Ucked
Eally Ucked's picture

I don't even understand why ZH posted that POS, are we getting some dribble from it?

Thu, 09/27/2012 - 20:30 | Link to Comment Cathartes Aura
Cathartes Aura's picture

. . . appears to be lots of new posters around, so bait is laid, and they'll get their chance to explain how things work  in their posts, ad infinitum. . .

 

if you've been here for a while, and you have, then it's all re-runs this season-thread.

Thu, 09/27/2012 - 18:21 | Link to Comment sansnobel
sansnobel's picture

Yeah he kinda reminds me of that other obnoxious Jew Banker by the name of Lloyd "Doing God's work" Blankfein.  He proclaims to be so smart, but when asked a direct question about his larcenous practices, he merely shrugs his shoulders as if theft is part of the game.

Thu, 09/27/2012 - 18:24 | Link to Comment WhiteNight123129
WhiteNight123129's picture

The Fed wants people to desperate about Financial Assets, sell them and spend. Nothing to do with trying to put more leverage in the system. The best way to do that is to make the long bong yield creep up. The EQuities are cornered or very close to be. More QE won't push them higher. The Fed is doing QE because people sit on bonds and equities going up, and not spending it, as  result it is deflationary. The market has it upside down.

If people were spending their large cash deposits, the Fed would stop QE.

 

 

Fri, 09/28/2012 - 02:55 | Link to Comment akak
akak's picture

 

The best way to do that is to make the long bong yield creep up

"The long bong" --- now THAT is my kind of investment!

Fri, 09/28/2012 - 17:15 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

The best way to do that is to make the long bong yield creep up

"The long bong" --- now THAT is my kind of investment!

Indeed! Not only are bubbles frequent, they're expected.

Fri, 09/28/2012 - 17:43 | Link to Comment akak
akak's picture

Just make sure that the bubbling in one's long bong does not become TOO energetic, or it may end up blobbing-up all over your carpet.

In US 'american' long bongism, toking is a middle class thing.

When it comes to US 'american' long bongism, an enjoyable comsumptionalizationistical smoke experience is the mattering thing, the very crustiest bit of an important something.

Fri, 09/28/2012 - 18:29 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Long bong US 'american' inventivism having muchly applied the scientification to problem of blobbing-up bongwater bubblificationism. Inventionary patentosity of ascribing to lucky number being the 4111213. Veracity of bong inventication resulting also preventiveness of accidental spilling due to slowingness of bongwater evacuation velocity. A quick responding to bong over tipping accidentation yielding benefit of much happiness and carpet of bongwater unsoilment.

http://www.patentgenius.com/image/4111213-2.html

It measures somehow US citizens' mettle to build such an incredible contraption of implementation the smokiest.

In US 'american' long bongism, toking is a middle class thing.

In US 'american' middle class long bongery, the toking class is the high flying class.

When it comes to US 'american' long bongism, an enjoyable comsumptionalizationistical smoke experience is the mattering thing, the very crustiest bit of an important something.

Don't forget the different mettle. In US 'american' smoking experience crusty bitizenism, the mettle, the mettle is the primary factor here. Somehow the primary amazement of the situation is very something.

Fri, 09/28/2012 - 18:48 | Link to Comment akak
akak's picture

More of the usual offuscationalizing from a typical US 'american' long bongism citizen.

US 'american' long bongism is characterized by the inability to self-ignite.

Just more of the same: farming the poor and retorting the weed.

Make me laugh dude!

Fri, 09/28/2012 - 18:58 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

US 'american' long bongism is characterized by the inability to self-ignite.

Ah, ah, such is the cause for butaneous combustion.

Fri, 09/28/2012 - 19:19 | Link to Comment akak
akak's picture

Alas, alas, septuple alas!

In US 'american' long bongism is all about combustionalism.

US 'american' long bongists are the world combustion sink.

Under US 'american' long bongism, the world is going to pot.

But when bud is the only mattering thing, the most crustiest bit of it, one will go to any lengths, so ....

Fri, 09/28/2012 - 20:31 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Alas, alas, dodectuple alas!

The alacrity of the alasticity is almost alarming!

Thu, 09/27/2012 - 18:23 | Link to Comment surf0766
surf0766's picture

The propaganda is bad.  Just bad.

Thu, 09/27/2012 - 18:24 | Link to Comment Catullus
Catullus's picture

Why doesn't Liesman just say that the LIBOR manipulation "helped the middle class" as well?

Thu, 09/27/2012 - 18:34 | Link to Comment DavosSherman
DavosSherman's picture

Liesman is a fucking moron.  A total tool.  An inept assclown.  Second only to CNBS's Maria-shit-voice-Barta-whateverthe fuck her name is, Dennis Kneal-Pads and Cramer the thieving douchebag Harvard clown.

Santelli should be a Tyler, what the fuck he tarneshes his name for at CNBS I'll never get.

PS One of our clients is a large Real Estate CEO.  Almost every buyer has dinged credit and is taking out 5 year paper or not able to buy.  As for these fucking inept out of touch talking moronic assholes, the poor are doing payday loans, and what is that interest rate? 33%???

 

The "Fed" is the bank, the banks own it, and the "Fed" is saving the banks ass and stuffing us with the bill.  CNBS is total shit, a fucking waste of time.

Thu, 09/27/2012 - 19:17 | Link to Comment Yen Cross
Yen Cross's picture

  I like " Grasso" to. He has nut's, and is a contrarian that makes $. He used to banter with the "CNBC bill payers", so he is on less often. Grasso does a lot of interviews from the floor, and is a lot like Santelli in his views.

  Liesman is a " Garden Knome"!

Thu, 09/27/2012 - 18:33 | Link to Comment Monkeyfister
Monkeyfister's picture

For once I agree with Santelli.

The FED is shoving PALLTLOAD after PALLETLOAD of xash to the Banksters, who gleefully accept it, hand around some fat windfall bonuses, and then promptly set the rest of the loot on fire. 

No trickle-down at all.

They are getting the money for free, and still have the nerve to charge exorbetant unterest on any loan they dain to give. They are worse than pirates.

 

Thu, 09/27/2012 - 18:33 | Link to Comment nbsharma
nbsharma's picture

Leisman saving his access to Ben. Simple as that.

Thu, 09/27/2012 - 19:04 | Link to Comment venturen
venturen's picture

Leisman is a TOOL!

Thu, 09/27/2012 - 19:09 | Link to Comment disabledvet
disabledvet's picture

I like Steve Leisman. He's from Buffalo...otherwise known as "the Home of Millard Fillmore." Even he's moving up on the list of the "Presidential Greats" these days. The outcome of the election might be in doubt folks...but not where we're heading.

Thu, 09/27/2012 - 19:14 | Link to Comment Everybodys All ...
Everybodys All American's picture

QE3 is another bank bailout. Any other explanation is just bs.

Thu, 09/27/2012 - 19:17 | Link to Comment nmewn
nmewn's picture

Liesman says...the middle class and poor are borrowers not savers, so the idea is to make it easier for them to borrow more (and incur more debt) instead of save.

Steve, what could possibly go wrong, right? I mean the banks are sitting on virtual pallets of freshly printed digital paper to offset the real losses that are sure to come from this strategy. Maybe Stevie could pontificate upon the middle class and lower class jobs being nowhere in sight to actually, oh I don't know, REPAY the Feds "money for nuthin" plus interest grand strategy next?

Lets all hold our collective breath.

Thu, 09/27/2012 - 19:29 | Link to Comment Everybodys All ...
Everybodys All American's picture

...and no one dares mentioning how this interest rate policy is gutting social security. Go long rope.

Thu, 09/27/2012 - 19:57 | Link to Comment nmewn
nmewn's picture

Yes, and as everyone well knows, no one really uses energy or food in this currency devaluation scheme, especially the poor & middle class. I'm quite sure our best & brightest central planning departments are designing infinitely more efficient bike paths, to make our life easier as we trundle ourselves off to vooork everyday. Just think, all the money "saved" on worthless fuel round trip, can be appropriated for a loaf of bread on the way home!...easilly carried on a bike...lol.

Better get your rope quick before it skyrockets in price, then we'll have to decide between rope & bread ;-)

Thu, 09/27/2012 - 19:27 | Link to Comment Roubinesque
Roubinesque's picture

Am I on Peyote?  Its almost impossible to tell what the hell these folks are talking about.  Trickle Down Federal Reserve?  What the fuck?  

Thu, 09/27/2012 - 23:18 | Link to Comment helping_friendl...
helping_friendly_book's picture

I envy you. 

I wish I were i a K hole right now!

Thu, 09/27/2012 - 19:37 | Link to Comment morpheus000
morpheus000's picture

FUCK ALL THESE MOTHERFUCKING WALL STREET CROOKS AND SCUM

Thu, 09/27/2012 - 19:52 | Link to Comment Duke of Con Dao
Duke of Con Dao's picture

are these the 'knuckleheads' Obama is talking about in this WH koan?

YouTube - Knucklehead Posters of the World Unite! Throw off the chains of Ignorant Oppression!

Thu, 09/27/2012 - 19:54 | Link to Comment indio007
indio007's picture

Trickle down economics is fraud at it's inception.

But for Mr. Obama to bitch about it is the height of hypocracy. The bailout could have paid every mortgage in the country instead he gave it to banks but kept the debt on the books.

I don't think even Romney's  is that stupid.

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