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Santelli Slams 'Surprise' Unemployment Data In Epic Screamfest

Tyler Durden's picture




 

While careful not to get drawn into the conspiracy-theory wonk camp, CNBC's Rick Santelli just connects the dots on last week's miraculous unemployment rate. In one of the most voluminous rants we can remember, Santelli - from a position of realist (and market whisperer) - argued with Liesman - from a position of 'but, but, the data must be true' - and summed it all perfectly "if I told you that you'd win the lottery tomorrow, and you did; wouldn't you wonder how did I know that?" With Langone also chipping in that he does not see anything in his business to suggest unemployment is improving at all - we think the bigger elephant-in-the-room is the Liesman 'comfortably-numb' line-of-questioning on "why did you think last month that this month's unemployment rate would be under 8%"; i.e., why did you think there would be manipulation? The answer is pretty obvious, especially as Santelli was proven 100% correct - "the current trend of these [jobs] numbers is so different from the current trend of any other numbers. If you were looking for conspiracies (and I'm not), you only need to change a certain number." Must Watch!

 

from 20-24 year old 'surprises' to participation rates amd part-time employment to real-world business - it's all here - and still Liesman can't back away from the 'data'...

 

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Tue, 10/09/2012 - 11:25 | 2871191 becky quick and...
becky quick and her beautiful mouth's picture

every day this just becomes a biger and bigger farce.

Tue, 10/09/2012 - 11:32 | 2871203 GetZeeGold
GetZeeGold's picture

 

 

Be careful.....someone is going to call you a racist.

 

Tue, 10/09/2012 - 11:33 | 2871216 Dr. Richard Head
Dr. Richard Head's picture

Some government entity needs to detain Santilli under the NDAA or Patriot Act. /sarc

Tue, 10/09/2012 - 11:36 | 2871235 redpill
redpill's picture

Santelli is clearly a domestic terrorist.

Tue, 10/09/2012 - 11:48 | 2871273 GetZeeGold
GetZeeGold's picture

 

 

 

Osama Ben-Santelli.....too bad Seal Team Six was devastated.

 

All we're left with is Delta Force.....no way those guys can pull something like this off.

Tue, 10/09/2012 - 11:52 | 2871318 Ahmeexnal
Ahmeexnal's picture

Can't blame the sheeple for not noticing a full blown collapse. They are too busy being passed out drunk:

http://www.thelocal.de/society/20121008-45427.html

 

Some 500,000 fewer people visited this year’s Oktoberfest than in 2011, but more revellers boozed to the point of unconsciousness, stats released Monday say. The Red Cross had to deal with more than 800 incapacitated binge-drinkers.

During the first week of Oktoberfest alone, about 445 partiers, most of them under the age of 30, considerably underestimated their alcohol tolerance – and the beer’s potency. The number of festival guests who drank themselves into a stupor was up by 20 percent, according to the Bavarian Red Cross.

Tue, 10/09/2012 - 11:58 | 2871342 economics9698
economics9698's picture

"It would not surprise me to see 7.9% unemployment announced before the election despite what the reality is."

One of my blogs dated 9-8-2012.

This shit is predicable.  It's a clown show for the below 100 IQ crowd.

 http://usa-wethepeople.com/2012/09/obamas-economic-record/

Tue, 10/09/2012 - 12:05 | 2871372 Thomas
Thomas's picture

Numbers cooked? Just look at the Birth-Death Model. You cannot get a less valid statistical treatment than that. It is rumored that the cooking started with LBJ. This is not exactly some fresh scandal nor does anybody I give a damn about reading think the numbers are straight.

Tue, 10/09/2012 - 12:29 | 2871454 Skateboarder
Skateboarder's picture

It's a complete and utter disgrace is what it is. Imagine the job postings that US Bullshit Labor Statistics puts up.

"Ever wanted to help milions of people with accurate data?
Ever wanted to fix the issue of unemployment?
Do you have experience in culinary arts?

USBLS is hiring! And we want you!

The following positions are open:

- Sr. Associate Bullshiter
- VP of Culinary Arts
- Director of Random Numbers
- Jr. Magician

We are also hiring for entry level liars. Send us your resume to bullshit at usbls dot com"

Tue, 10/09/2012 - 12:36 | 2871479 LMAOLORI
LMAOLORI's picture

 

 

Just doing God's work like the banks

Meet the Obama Donors at the BLS

Tue, 10/09/2012 - 12:52 | 2871535 GetZeeGold
GetZeeGold's picture

 

 

Meet the Obama Donors at the BLS

 

Dude.....what are you saying here?

 

Tue, 10/09/2012 - 13:13 | 2871606 Oh regional Indian
Oh regional Indian's picture

MEanwhile Timmay is in India talking his shtick.

Probably arm-twisting India to buy some T-Bills!

 

The US is optimistic about India’s growth prospects and hopeful that the Manmohan Singh Government’s new economic reform drive will bolster private investment and incomes, US Treasury Secretary Timothy Geithner said.

Ho ho ho!

Too funny, this clownshow. i'm sure he got the red-carpet...

http://www.thehindubusinessline.com/industry-and-economy/economy/article3981121.ece

ori

 

 

Tue, 10/09/2012 - 13:15 | 2871609 dwdollar
dwdollar's picture

Liesman would believe anything as long as it comes from the mouth of the bankers and their thugs the bureaucrats.

Tue, 10/09/2012 - 13:22 | 2871635 Meesohaawnee
Meesohaawnee's picture

only thing in fleecmans mouth is bernake's hot spunk

Tue, 10/09/2012 - 14:01 | 2871782 redpill
redpill's picture

Every time that arrogant shitdick starts talking they should just blare this in the background: http://www.youtube.com/watch?v=MK6TXMsvgQg

Tue, 10/09/2012 - 14:06 | 2871802 strannick
strannick's picture

Liesman tries to get Santelli to say ''corrupt''. Santelli says ''Im not going Nigel Farage. Im not going to pay a $5000 fine''. I frickin LOVE Rick Santelli

Tue, 10/09/2012 - 20:52 | 2873131 jerry_theking_lawler
jerry_theking_lawler's picture

I must tell the truth... I only watch CNBC around the 7:30c time frame to get a glimpse of the Santelli/Liesman show.....I saw this exchange this morning and had to laugh because it is good showmanship. RICK SANTELLI....please go Nigel Farage on his ass, I will pay your $5000 fine myself.

Also, if you are watching, please PM me. I will buy your dinner the next time I'm in Chicago....I just want to wear a Liesman costume and see what happens....

Tue, 10/09/2012 - 13:31 | 2871664 Global Hunter
Global Hunter's picture

there's a cliche, "he knows who butters his bread"...or something like that.

Tue, 10/09/2012 - 14:03 | 2871787 Harbanger
Harbanger's picture

Steve Liesman is a lying idiot, lets leave it at that.

Tue, 10/09/2012 - 14:19 | 2871856 ejmoosa
ejmoosa's picture

Worse, he believes the shit he says.

Tue, 10/09/2012 - 21:38 | 2873230 John Wilmot
John Wilmot's picture

I have to agree with the downvoter. Much as I'd like to say that Lies Man eats his own bull shit, I think he is...as the name suggests....a fucking liar.

Tue, 10/09/2012 - 15:01 | 2872016 SokPOTUS
SokPOTUS's picture

*Any* of those positions is a step up from Computer Screen Washer at the SEC.

Tue, 10/09/2012 - 21:57 | 2873269 John Wilmot
John Wilmot's picture

I'm picturing Lies Man in a magician's constume pulling a (dead and also severely retarded) rabbit out of his ass.

Tue, 10/09/2012 - 13:56 | 2871764 silverserfer
silverserfer's picture

Well can you really count tweeker meth heads and other various douchebag zombies. Nobody is EVER going to hire them. Would you even want them flipping your burger?

Tue, 10/09/2012 - 15:43 | 2872309 imbrbing
imbrbing's picture

I predicted 6 months ago to guys at work here that the unemployment numbers would get below 8% before the elections. I have to admit I started to get nervous, but obummer came through for me a the last minute.

Tue, 10/09/2012 - 12:21 | 2871429 Skateboarder
Skateboarder's picture

For the average male,

1-2 drinks: You are a gentleman and a scholar (assuming you're not an idiot to begin with).
2-3 drinks: You stop tasting the full taste and complexity/layering of any alcoholic beverage.
4-6 drinks: You stop caring about whether you're gonna get drunk or not.
6-8 drinks: You start fiending for more alchyhol.
8-10 drinks: You start drinking viciously, not caring for consequences the night of or the next morning.
10-12 drinks: Your true drunk self comes out, whether it be the belligerent asshole or the lovey-dovey hugs4everyone simpleton.
13-15 drinks: You think it's okay to drive blacked out. You might need help at this point.
15-17 drinks: You're blacked the fuck out and in a pool of your own vomit or breathing shallowly, passed out face-first in a bush somewhere. You might need to get your stomach pumped.
17-20 drinks: Ambulancia! Ambulancia!

Tue, 10/09/2012 - 12:27 | 2871439 Pegasus Muse
Pegasus Muse's picture

Oct 9, 2012

 

“Last Friday we saw the BLS report the largest one month gain (for the month of September) in the Number of Employed (+873,000) in the history of NonFarm Payroll Reporting.  The biggest gain since 1948.” 

--- Madeline Schnapp (TrimTab’s Director of Macroeconomic Research)

=============

There’s Something Very Fishy With the September BLS Unemployment Rate 

http://www.youtube.com/watch?feature=player_embedded&v=IV9NzX-Iebc

 

Tue, 10/09/2012 - 13:52 | 2871752 ParkAveFlasher
ParkAveFlasher's picture

Skateboarder, you've just described a parabolic move.

Tue, 10/09/2012 - 14:33 | 2871913 Skateboarder
Skateboarder's picture

Some parabolic goodness for yer entertainment. :)

https://www.youtube.com/watch?v=UCmbmqb4sys

Tue, 10/09/2012 - 16:55 | 2872555 Kiwi Pete
Kiwi Pete's picture

Wow that QE3 really works a treat!

Tue, 10/09/2012 - 13:45 | 2871723 Global Hunter
Global Hunter's picture

Well I'm on number 2 and on purpose only bought a 6 pack!

Fairly accurate list in my opinion.

Tue, 10/09/2012 - 14:12 | 2871832 Skateboarder
Skateboarder's picture

Splitting a sixpack with your friends is classic, but Jah smiles when everyone's got their own personal sixpack or personal growler (man I love growlers).

Tue, 10/09/2012 - 13:57 | 2871773 OldPhart
OldPhart's picture

Skateboarder

As with any pleasurable experience, pacing is critical.

Tue, 10/09/2012 - 13:09 | 2871561 q99x2
q99x2's picture

Wonder how Merkel is holding up against the Greek Nazis?

World's turning into a showfest of clamboring buffons that rivals the comment section of ZH

Yes! we are finally reaching parity.

Tue, 10/09/2012 - 13:41 | 2871700 Overfed
Overfed's picture

Of the few things that make me happier than seeing a German dressed in lederhosen passed out in the grass, one of them is seeing Rick Santelli going apeshit on Steve Lies-man.

Tue, 10/09/2012 - 21:17 | 2873175 John Wilmot
John Wilmot's picture

During the first week of Oktoberfest alone, about 445 partiers, most of them under the age of 30, considerably underestimated their alcohol tolerance – and the beer’s potency. The number of festival guests who drank themselves into a stupor was up by 20 percent, according to the Bavarian Red Cross.

What poor, unfortunate graduate of the American public school system wrote that article? If they underestimated their tolerance, they would have presumably drank less than needed to reach it and not gotten too drunk. If the idea is that they got too drunk, then they must have overestimated their tolerance. I'm not sure whether to classify this one as a logical or literary failure.

.....

Anyway, that was nice, the video. Nothing like seeing a couple actual human beings (Sentelli and Langone) amongst the propaganda machines otherwise known as the usual cast of CNBC.

Liesman, anytime anywhere biiiatch. Go fuck yourself.

Tue, 10/09/2012 - 13:38 | 2871699 Stock Tips Inve...
Stock Tips Investment's picture

The statistics have their own dynamics, which is also applicable to the unemployment statistics. If you look at the chart that appears in the video, you will appreciate that unemployment has been falling (albeit slowly) over the last year. What is the surprise? The surprise is that unemployment fell to less than 8%. Sooner or later this would happen. If such large amounts are injected into the economy and inflation does not rise rapidly, it is obvious that some kind of recovery will be appreciated. Although this recovery is ephemeral. Surely we can argue about the wisdom of Fed policy. We may disagree with the measures being taken. We know of the risks these bring to the U.S. economy, however, at this time, are helping to lower unemployment, are also helping to raise the price of gold.

Tue, 10/09/2012 - 12:51 | 2871530 YuropeanImbecille
YuropeanImbecille's picture

It's true about the education system and this has to do with the foothold of the liberals in education. over 90% of all teachers and faculty jobs are performed by hard core liberals with great dreams of marxism in their crosshairs.

 

In the 1930's this was called "jooish Science" 

Tue, 10/09/2012 - 14:25 | 2871878 silverserfer
silverserfer's picture

so are you saying that everyone should be like you and be homeschooled and still have their mom give them a bath at age 49?

Tue, 10/09/2012 - 21:42 | 2873238 John Wilmot
John Wilmot's picture

If the only two options are (a) let the State turn little Jimmy into an obedient retard, or (b) let Mom bathe little Jimmy until he's 49, well then we're fucked, eh? However, seems to me there might, just maybe, be a third option. I once heard this wild idea that when there's a demand for some product, and this product can be produced and sold for more than the cost of production, people produce it and sell it to those who demand it. As far as I know, this idea is not limited to iShit, but applies equally well to education.

Tue, 10/09/2012 - 12:05 | 2871374 NidStyles
NidStyles's picture

I was called a racist and NAZI a total of three times this morning. I was also told that Austrian School is directly from Malthus because Webster Tarpley says so.

Tue, 10/09/2012 - 12:21 | 2871427 greyghost
greyghost's picture

anyone else tired of this ass wipe? where the fuck was this ass when the republicans were in office and "ALL" the numbers and books were cooked?? just another cry baby because his man ain't in the office! hell the bls has been cooking the books for decades! "NOW" we have a "problem"?????? screw this clown and his four year old tantrums

Tue, 10/09/2012 - 12:35 | 2871475 PeterSchump
PeterSchump's picture

Santelli when Bush was in office:

 

http://www.youtube.com/watch?v=I-1g0OZJIdk

 

Tue, 10/09/2012 - 13:08 | 2871578 greyghost
greyghost's picture

please don't insult us with this nonsense. this idiot has spent his whole life in the "business" of cheer leading the markets on with phony figures under every rock you can turn over. the list is so over the top long on cooking figures with the goverment and the fed and the banks and business in america! where the hell has this nimrod been for thirty or forty years, picking out pom poms for the next cheer fest? this so called father of the "tea party" was where exactly while the "business as usual" crowd co-opted the movement? THROWING TANTRUMS LIKE A FOUR YEAR OLD? i say phony inside and out!

Tue, 10/09/2012 - 13:39 | 2871698 Global Hunter
Global Hunter's picture

You underestimate the power of brainwashing, I'm a 38 year old spent nearly 15 years in banking/finance and 8 on equity trading desks (most of that as a trader) and I realized what was going and figured it out when Fukushima happened and I discovered ZH.  My point is, its not so easy and takes a fair bit of fortitude to wake up and draw your own conclusions.  He seems to be where most of the rest of who read ZH are, good for him NOT what took him so long in my opinion.

Tue, 10/09/2012 - 14:06 | 2871801 Mad Mohel
Mad Mohel's picture

The difference being he had a soapbox to stand on to spew the company shit, so he directly had a hand in the fleecing of the public. What's the penance for the crimes? He needs to literally beat the living fuck out of Liesman on air!

Tue, 10/09/2012 - 17:18 | 2872609 MrTown3
MrTown3's picture

Excuses excuses...

Tue, 10/09/2012 - 21:48 | 2873252 John Wilmot
John Wilmot's picture

Tarpley and the LaDouche cult in general are a bunch of fucking idiots. Well, to be precise, LaDouche is a successful megalomaniac, who has managed to draw in many fucking idiots like Tarpley. It's not just that their worldview is based on fiction, it's that once you get behind their prepared remarks, you realize they have...literally...nothing else to say. They are a high school rhetoric club run amok.

Wed, 10/10/2012 - 08:05 | 2874031 Death and Gravity
Death and Gravity's picture

Spot on.

Tue, 10/09/2012 - 12:27 | 2871443 El Oregonian
El Oregonian's picture

Would suggesting that our economy is slipping into a very "Dark" period. Would this be classified as racist?

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