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Santelli Slams 'Surprise' Unemployment Data In Epic Screamfest
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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Damn, beat me by 4 nanoseconds.
High frequency commenting.
You can't say that on teevee!!!!
What's up with the "oh shit" mumble at 4:19?
Nice shot of someones shoes propped up on the table behind Santelli during his rant.
That was just Santelli levitating.
What are all those green numbers on the TV screen?
Just a little thing we like to call QE to infinity.
Don't worry about it.
Breaking News: CNBC is in the entertainment business and Santelli gets payed by CNBC...to entertain.
Is it that or is Santelli a hedge for CNBC? None of these media outlets has a position or soul, do they? They're just chasing dollars. If Santelli has his finger on the pulse (and I think he does) won't CNBC move its message to capture more share?
Did anyone here not expect a government run by sociopaths to jimmy the unemployment number to swing the election to Obummer?
if he keeps this up, he might get heart attacked. stay safe bro
WILE E. COYOTE...
Here comes the overdue Wile E. Coyote sell off.
At last.
http://www.zerohedge.com/news/2012-12-24/market-analysis
http://trader618.com
Liesman tried hard to get Santelli to confess, to no avail.
He's just not the caliber of Lt. Daniel Kaffee.
http://www.youtube.com/watch?v=8hGvQtumNAY
i love the part where the old fuck says that there are 85,000 jobs that cant be filled because no one is qualified. we need to fix the educational syste,. since when does a kid fresh out of school...even the best school....have any experience...?!?!?!?!?! there are experienced people out there. there arent any jobs. real jobs. 40hr a week jobs. these companies that bitch just want cheap temp foreign workers.... fuck the american workers...
funny thing is that unemployed americans dont buy bmx's and new homes. the rich fucked themselves and this baby is collpasing.....
Very true lot of jobs wont look at you without experience, the ol' catch 22
It's always been that way. You get out of school, start at the bottom and gain experience. Everybody wants to start at the top these days.
I think what he was saying is that welders are in demand.....no one is teaching welding...its all college prep or junk...we should change to what Germany does....have tech schools and college prep schools...the teck schools teach a trade...plumbing..electricians..welders..etc.....not everyone need and African womens lit major....
I wish it was so. But I think the rich are getting richer and then they're collapsing the system to that experienced Americans are eager to work 60 hrs per week for low low wages and suburban homes cost $20,000.
Imagine you are a billionaire and inflation eats up your wealth. Just crash the system, deflate all assets and keep the cash holdings at inflated values. They own the military and they own the propaganda tools to make it fit.
More free lunches for the 1%.
the rich are getting richer by printing money....NOT selling more bmw's. big difference. workers making $3 an hr dont fuel the increases in the economy needed to beat the deflation caused by all the bad financial shit out there. thats why the central banks are printing....it is fake wealth because it wont last. too many 'rich' people right now 'on paper' (or electrons).
crash the economy and do what with the assets..? sell them to who....? you dont get it. there are too many rich right now for the economy. 1% of the population in 1500 is a lot less than the 1% today. same amount of 'stuff'...the 1% will shrink.
I don't agree with the "not qualified" comment. There are plenty of qualified people looking for work. The problem is, the co's don't want to hire at prevailing wages. That is the main reason why the jobs are moving overseas.
Has absolutely nothing to do with "qualified", and everything to do with pay levels.
That "unqualified" canard is just that.
The main qualification missing is a low salary requirement.
Better to get in 4 or 5 H1Bs so they can whip their asses around till they get their green cards.
pods
Might be if they are not hiring at "prevailing wages," then those wages aren't prevailing.......
Right, exactly. So "they" should be honest and say they can't find qualified people, at the "price they are willing to pay", and have at it.
This game has gone on for years and is the main fallacy put forward by the H1B insourcers. This cry of "we can't find qualified people" is absolute horseshit and I wish more people would call them out on it.
Agree, they could embelish their statement to add the price consideration. But lots of folks make those kind of comments and it's implied price is an important driver (e.g., "I can't find a house to buy" = the house I want and the price I want to pay do not match -- it likely does not mean there literally are no houses to buy when there are really many for sale).
The US has priced itself out of the world labor market to a degree. Many developing countries finally have sufficient infrastructure (e.g., electricity) and can import the technology to quickly reach productive levels of output.
We can complain that those workers are ill treated by our standards, but that is not going to change much. Those workers apparently have some appreciation for the work and the paycheck -- which did not exist say 10 years ago (I know, they just don't know they are being taken advantage of -- those helpless rubes).
Trade wars are fine as long as Americans would like to see some real price increases for most of what they buy. And Americans who are sufficiently offended by the plight of overseas workers could voluntarily stop buying goods made with cheap overseas labor (and only "buy American") to show they really believe what they say -- but they won't -- they are addicted to cheaper products (and most are hypocrits anyway-- which is fine, as long as they know it).
Santelli is interesting and relevant. Liesman is an obnoxious, interrupting, know it all, stooge fill in, for the current administration. These segements, although probably not staged, are orchestrated to get viewers to find this tired old show worthy, and perhaps give CNBC some more life. I find myself irritated to no end with Liesman, so I do not watch him, or CNBC, any more.
If by "current administration" you mean "status quo" then I'm with you 100 per. I've been exposed to Mr. L's rantings for as long as he's been on, and his schtick has never changed one iota regardless of which party was in the WH.
Ah yes, I still recall the good old days when Santelli used to come on in his pit traders colors direct from the floor of the CME. He stood out right away as a man who wasn't afraid to call BS on the clown show. CNBC without Rick Santelli would be like ... well ... BLS.
"Stooge" - perfect definition.
I cant wait till the day when CNBC and Liesman are unemployed and seeing what their opinion is then!
NICE how 'fudged govt numbers' is now finally going mainstream, everyones talking about it thanks Jack Welch.
Where have you been? I thought maybe you got bored and left since Robo hasn't been around.
Come on SheepDog, you gotta love the BlowHorn! They're "only" 4 or 5 years behind on this BLS farce.
CNN or Bloomberg would probably take Lies-man. They like pumpers.
At least Welch called Obama on the lie-a-thon.
Did anyone see the guy behind Santelli with his feet propped on the desk, then a "oh shit" heard in the background and they were gone???
Yep. It's at about the 4:20 mark. It was stated immediately following Liesman asking Santelli why/how he predicted the number ahead of time. Sounded kind of like kernan to me.
Their rivalry is clearly professional wrestling. It was pretty obvious the way that Santelli was behaving, he was expressly told not to get into particular issues... this is why he was coy about the basis for his prediction. It wasn't simply a magician following the magician's code.
As an aside, Liesman has what I like to refer to as the liar's lisp. It's a pretty obvious tell once you train yourself to watch for it. The liar's lisp typically happens when someone has to think about what they're going to say (carefully wording), with the result being a lie or at the very least, stretch of the truth. Sometimes it's simply someone desperately trying to sound intelligent. Often times it's a dead giveaway for a lie (half truths are lies for those wondering). I find it more commonly done by women than men... but, Liesman does this frequently. At the very least, it signifies the speaker is not sure of what he or she is saying.
The unemployment number was predictable. Only Liesman who is no doubt a socialist shill for the administration has to deny the conspirators. Has to deny. Has to deny this because that's what good socialists do. It's been done the world over.
That was some really funny stuff between Rick and Steve "The Shill" Liesman. Rick speaks for us all that have no voice and I thank him for it.
Change shill to whore and Im with you on LIESman
Liesman Propagandist should be charged as accessories to the crime. There sentence should match the criminals they defend.
I'd be happy with cruel and unusual.
He could end up as one of Jerry's kids at the State Penn.
Look up Government shadow stats and turn off the TV. The BLS is told what to report, Mystery solved.
7.8% is R-I-D-I-C-U-L-O-U-S and unbelievable. Of course...
But NOBODY on that clip mentioned WHY....THE ELECTION!!!!!!
The bigger picture is that Americans are underemployed and the unofficial real unemployment rate is closer to 25%.
Spain is all the RAGE now with their 50% youth unemployment. The US government then and now could never admit to these numbers in America or all HELL would break lose.
"Yes Sir Mr. Welch...I've got your back Jack...best rant evah, I promise!"
Leisman would turn himself over to the DHS for a buck.
I'd love to know what 85000 jobs cannot be filled with qualified applicants in this economy
Well, they can't be filled with people that have the experience needed to do the job. Companies used to train the incoming kids. Now they don't, it's too expensive ever since the old 'bottom line' theory took hold....early 90s.
For instance, let's say I can do one of these jobs but I'm not willing to take 24k they would pay a kid to do it....job unfilled because the kid can't do it, no experience, and I can't do it because I know it's worth more than 24k.
There is an evil at play here. On the one hand we have an evil fuck in the white house trying to kill business/capitalism, on the other hand we have corporations that are SO into profit and shit management trained by the very leftists desirous of destroying capitalism. Believe me when I tell you this is all about lowering our standard of living to make wages in the US more palatable to the slave laborers in other countries. Period end of story.
Ken Langone is a lying bitch! 85k jobs that can't be filled because nobody's qualified? What a bunch of corprate shit!
NOBODY in college is qualified for the job they first take. You have brains but you need to learn the street, get on the job training.
This is the new lying BS slung by the very people who have no intention of hiring you.
Really? How many college graduates can pick up a welding torch? Fix a leaky faucet? Run a jackhammer?
We have the same problem in Canada; hardly anyone wants to get their hands dirty working in the real world. Everybody wants to work in a nice air-conditioned office, sitting in a comfy chair. As a result, we have thousands of unemployed college graduates with degrees in English, History, or Sociology, but lots of empty jobs which require you to work with your hands.
I was sitting on the bus last month, listening to some 18 (or so) year old chick talking about her interview at an autobody shop. "Yeah, you start at $14/hr, and the guy told me after three or four years, I'd be making $18/hr. Puh-leeze - like I'm going to work my ass off for that. I wanna job that's going to pay me $70-80k". I turned to look at her - fat, not pretty, tattoos. Right. She's going to get $30/hr from anyone? Not even in a massage parlour.
We used to go to Mexico - before the Zetas took over - and the kids in college were studying: law, history, law, etc. Like in the US, very few engineers.
How many college graduates:
5%?
I choose to believe that Santelli is a true free market Capitalist.
Iwill say again, who watches CNBC and who give a fuck what they say?
What do you expect from CNBS? Total propaganda, group think, party line spill each day... caveat emptor
CNBS; Liesman and cnbc all linked with Yahoo Finance are Pravda, Izvestia for Sheeple.
PRINT MORE...ANOTHER TRILLION.
You can hear "Oh shit" over one of the mics at 4:20.
Santelli was hard to follow. He should have just said, the jobs number was really coincidental...
He's taking after Ron Paul -just implying things. Like whether RP would run as a 3rd party, he doesn't think so. Not in stone. Santelli, "I called the decline, and it was like winning the lottery. Plain and simple." Or is it?
if santelli would state that the gov fixed the numbers and has always fixed the numbers he would have been wholesale attacked from all sides. the dem and the repubs cant have the public think (openly) that the gov info is bullshit..........santelli did what he could within the job he has. he isnt stupid. he knows exactly how the numbers are arrived at and he could just do a story on air and all shit would hit the fan...aint going to happen. shadowstats can rant for years but no one goes to that site.
santelli is really fighting with one arm tied behind his back. i think that is why he gets so frustrated.....
YOU LIE !antelli Slams 'Surprise' Unemployment Data In Epic Screamfest | zeroHedge http://www.zerohedge.com/news/2012-10-09/santelli-slams-surprise-unemplo... http://youtu.be/xN_mw1ZwZWE
So...Liesman on One hand says The Rules have changes - Concerning how many jobs need to be added per month to keep the unemployment rate the same - He says It went from 150-200K per month, now down to 100-125K/mo.
THEN fuckface says to Santelli "The Rules Havnt Changed" concerning people who stop looking for work not being counted as Unemployed.
You have to LOVE the way some of the fuckers think.
Cook those fucking books, Cook em!
It's not really thinking, is it?
It is communism...like in Cambodia...there is no history before today. If you try to say there is history before today...you're killed.
These people actually believe this shit because if they don't they will lose their jobs. It's non-thinking.
More striking is that WSJ and Fox repeat the same shit. The folks that got our backs cuz we're capitalists, right...
The farce is that anyone pays attention to the unemployment number. It's a rigged number and does not come close to accurately representing the employment health of the nation.
If everyone who is "unemployed" quit looking for a job and stopped collecting benefits their number would show 0% unemployment... Hooray!
We need a number that merely shows the EMPLOYMENT percentage... not this wacky unemployment number racket.
And the even bigger farce is that with virtually all measured economic data, the margin of error is so wide as to make the data meaningless. As if the speedometer on your car had an error of plus or minus 60 miles per hour. It's all ludicrous.
I maintain that the real US economy has actually been in recession since about the year 2000. Once that fact is accepted, the conditions seen in the real economy make perfect sense. Liesman is just one of the many mainstream shills whose job it is to help disguise that fact. Whether he actually believes what he's saying is anyone's guess.
Total earnings is an immediate proxy for GDP.
Total earnings / working age population would show the quality of jobs.
Total earnings / total population would show relative economic health.
Unemployment - almost useless.
Problem is these degenerated numbers get quoted by other talking heads and wall st journal and bloomberg and all the other msm and the totus and his minions. The lie gets repeated enough it bcomes the meme, the new truth. These are old tactics once employed by a certain regime whose name I can't recall at the moment.
I was surprised Becky could get Buffet's cock out of her mouth long enough to string together an audible sentence.
something seems to have happened to the becky/buffet/little girl/daddy relationship as the number of 'first on cnbc' interviews has diminished greatly compared to 4-5 years ago. maybe she hit puberty .....?
The over-profits of the shark loans in the USA not only did not turn their dollars into inflationary money, but also they were multiplied and exported abroad in the form of “investments”. The illegally “increased" dollars of the internal USA economy become tons of “investments” abroad. FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing” ...the first state that burdened the international economy with its “breathing” ... and this is where everything started ...this is where the current shabbiness started, Loan sharks that are international today and “hide” behind the vague term of “Markets” are in fact the old loan sharks of the American market. They by controlling the USA monetary system “pumped in air” constantly in order to make profit from the USA “breathing”.
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
Authored by PANAGIOTIS TRAIANOU
Wow, that was stupid, only part worth watching was the math joke at the end.
Has this been posted to youboob? I can't view on my iGadget......
LMAO.. Who says "Oh Shit" at the 4:20 mark?
Joe.
Tyler,
How about a graph and a post about the deflater again so people can see what the BLS is really doing. This is what Consumer Metrics keeps pointing out with every new BLS release. This from their Sept 27 2012 remarks:
--
--
Every time there's a BLS release its the same thing, the deflater is always skewed unjustifiably.
Rick Santelli's voice is annoying.
Yes. And his manner is sometimes over the top.
And he is THE most interesting host to listen to on CNBC.
Pitch is too high. The torpedo's Russian.
Looks like Obams has a problem. Go to: thedailybeast.com and use the search engine. Type in The illegal loophole.
here's the short version of that donnybrook... (45 seconds) I think I kept all the good bits... No?
YouTube - Did White House serve up B.S. from BLS on Jobs Numbers? Ask Rick Santelli about the Conspiracy.
...
YouTube - Obama on Romney in 7 Seconds
No need to freak out and simply get over it, it was an inside job.
DING! DING!
STEVE LIES-MAN.
You see! It's easy. Just look at the name. Truth in advertising. LOL
why u mad, bro?
Did someone, Joe,? say "oh shit" at 04:19 of the video?
They Ken guy is full of it. I know DICE well. "This can't find qualified people" meme needs to die. These companies ask for IMPOSSIBLE qualifications. I saw on DICE way back in 2001 a company asking for 7 years experience in Windows 2000. I wonder why they can't find someone.
Also alot of people that advertise on job boards are really headhunters and unscrupolous others trying to fill their databases.
Ken is just another rich old guy that doesn't know shit.
I love how this all bullshit talk directs from the increasing part time work, and declining benefits, wages, and worker rights' talk.
We are all playing right into the oligarchs' hands.
I love the guy in the back of Santelli @ 8:30 who puts his feet up on the desk.
Hard workers over there at the CFTE!
Just take everyone looking for a job out of the labor force and put them on food stamps or whatever. Out of the labor force, they are no longer counted at all. Make everyone dependent and unemployable: that's the (obvious) agenda.
Check this out: http://www.youtube.com/watch?feature=player_embedded&v=IV9NzX-Iebc
Santelli man the fuck up...all that fake bravado and machismo to "allude" and "insinutate" ? ...be a fucking a man and say what you have to say..quit throwing tantrums and say what's on your mind....
"Pollyanna Creep is a phrase that originated with John Williams, a California-based economic analyst and statistician. It describes the way the U.S. government has modified the way important economic measures are calculated with the purpose of giving a better impression of economic development. This is a clear reference, in a sarcastic way, to Pollyanna's proverbial optimism. John Williams and other economic analysts, such as Kevin P. Phillips argue the such manipulations distort the perception of electors and economic factors and have ill effects on political and investment decisions."
http://en.wikipedia.org/wiki/Pollyanna_creep
...LIESman loves the Dead, one of those pipers that dances to his own tune, the law without the sustaining Mercy. The boy is an Antichrist Whore riding the Fed Debt Beast straight to Hell in a derivative bucket with a black hole in it. LIESman is stabbing at Rick like Rick is Elijah in Jerusalem declaring the coming Mercy and exposing the numbered of the Beast.
http://www.youtube.com/watch?v=EGEnX0k9eiU
Listen to the Ol man that's all I can say on this 'Jerry Springer' financial news travesty.