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Santelli Vs. Liesman; Broken Pipes, Trickle-Down Frowns, And 'Imaginary' Inflation
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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I disagree!
It was Bush who initiated TARP and then took the money and gave it to AIG who then gave it to Deutsche bank and Goldman Sachs while Obama was President Elect; before Obama was sworn in.
I think your analysis is flawed by ignorance or just obvious disingenuousity.
So are you just stupid or dishonest?
I don't think you're picking up what he's putting down.
But I'd never be so quick to call you the dumb fuck in the pair.
Obama voted for it while he was in the Senate.
Pull your head out of Obama's a$$.
I like Mandy.
cool. wash your hands when you're done.
What the fuck are these dumbfucks discussing about? A bunch of idiots interrupt each other to make a point of ..... hmmmm.....nothing. Hot curled air about bullshit. I am German and fascianated about the bullshit spilled out from these people. Is this the finance news source in US? If so you are damned.
*****Is this the finance news source in US? If so you are damned.*****
YES. This is the finance news source for the proletariat in the good old USA.
Do you Krauts have any source better?
We even pay to watch these lies.
We do get BBC and watch the Public Broadcasting System and listen tho National Public Radio which has honest reporting.
Most, ignorant, American live, breath and make their economic decisions based on those clowns.
Please come and conquer our country. I don't think it would be to difficult. We might even surrender faster than the French!
We are, certainly, damned!
We are so tired of these clowns we might welcome a kinder, gentler, fascist.
Anything would be better than the fascist in control now!
Did you know that an anagram for Steve Liesman is Evil Men Asset or Slave Semen It?
Guys like Liesman believe in their infinite wisdom to manipulate macro and micro economics. How they believe they are smarter than the market is beyond me.
Steve Liesman - "economics" reporter with a Grad degree in journalism
Everyone on this panel sounds stupid (minus the Santelli point on excess reserves......but that's not really the result of financial sleuthing, just a concept of simple economics).
It's not a macro problem, it's a micro problem. The people at the top of the monetary policy, and the banks that recieve the currency and therefore, "control the spigot"........have to go.
I almost never watch CNBC. In the few minutes I do each year, I always regret it.
My takeaways are that Liesman still looks and sounds like shit. With a note that Santelli looks 25 years older than he did 4 years ago. Both guys should take their winnings and retire.
Then CNBC could just do up-skirt shots on their Money-Honeys and thrill the 14-yr-olds, who have to be the only ones left watching this SOS.
It's the same discussion they were having 10+ years ago, when Fed artifice first kicked into high gear. Which is completely amazing, since we have already learned for sure 1) Fed artifice really doesn't help, in fact it makes things worse. 2) Supply Side trickle sounds great in theory, but never functions properly in actual application, for the people in the nation. 3) Heavy Financialization of your Economy is a bad fucking idea. As it becomes so, TPTB will then use Monetary and Fiscal policies to jerk it to their wishes and completely pollute it. 4) Central Planning is easy in, and impossible out.
Meanwhile, CNBC is still having the same discussions over Supply Side trickle and Fed artifice. And CNBC still has assholes remaining who will not only defend them individually, but also in combination.
I'd watch CNBC but they'd have to ditch at least 2 out of 3 in that discussion, and guarantee a minimum of 2 up-skirt shots per hour.
I'd give up watching CNBC too, but where else can I get the unparalleled intellectual stimulation of the OctoBox?
LIES man is a shill, not a journalist.
Everyone plays their part like a well rehearsed drama series.
Never was the pot more plainly guilty of calling the kettle black than when Liesman a few years back repeatedly hollered at Gasparino, angrily calling him a 'hack'.
Liesman himself is not sufficiently clever or disciplined to mask the leftist political ideology that taints and trumps any economic insights he may have to contribute. He belongs at Politico or HuffPo
IMPENDING SELL OFF.........
Longs please be careful.
Due to recent central bank intervention and short covering spikes, these daily charts are extremely overextended and significant correction expected very soon:
SPX, DOW, NASDAQ, NZDUSD, GBPUSD, AUDUSD, COPPER, CRUDE, GOLD, SILVER. [USD strength will return]
http://www.zerohedge.com/news/2012-12-24/market-analysis
http://trader618.com