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Santelli Channels Cramer: "The Fed Doesn't Have A Clue"

Tyler Durden's picture


Comparisons of the failure of the TARP vote and the fiscal cliff were summarily dismissed early in this clip - though CNBC's Rick Santelli does note, as we have vociferously stated that a market correction is the only impetus to get something done in Washington. Having abandoned his channel's "Rise Above" meme in the face of this "childish nonsense", Santelli agrees that politicians "can show incompetence at very critical moments." Then, sparked by the anchor's comment that "the markets would know if [the cliff] was going be a horrific thing", Santelli goes 'off-script' with an epic take-down of all things CNBC: "the stock market is an immediate gratification for investors to make money;" and asks the key question "Why do we look to the Dow Jones Industrial Average to handicap if this country is going to go down the sewer in a couple of years? It doesn't give us a glimpse into the future." He adds that the market is not discounting $100 trillion of unfunded liabilities in our future and then slams the door shut with what will likely become the new meme: "The Fed doesn't have a clue, neither does the President, neither does Congress."


Forward to 4:30 for the epic rant (or enjoy the whole thing as Rick summarily dismisses the much hoped for "Rise Above" theme)


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Thu, 12/27/2012 - 10:58 | 3098771 GetZeeGold
GetZeeGold's picture



Oh shit.

Thu, 12/27/2012 - 11:04 | 3098787 Stoploss
Stoploss's picture


Thu, 12/27/2012 - 11:27 | 3098858 Zer0head
Zer0head's picture

y'all recall when Cramer compared Obama to Lenin back in early 2009?


not long thereafter the SEC arrived on his Street and uncovered a massive $250,000 accounting error that was just recently settled. 



Thu, 12/27/2012 - 11:35 | 3098905 S5936
S5936's picture

Same for Michael Burry after calling out Greenspan . Cost him a cool MIL

Thu, 12/27/2012 - 12:02 | 3098952 Manthong
Manthong's picture

Oh crap.. it's all part of the show.

The Fed and Feds know exactly what they are doing.

Thu, 12/27/2012 - 12:12 | 3099014 old naughty
old naughty's picture

CNBC turned fight-clubish...


Thu, 12/27/2012 - 12:15 | 3099022 strannick
strannick's picture

St. Rick, shoutin it out. My fav was when his straight man said ''Im just Forrest Gump'', Santelli says ''Forrest Gump is Congress''

Thu, 12/27/2012 - 12:18 | 3099035 gmrpeabody
gmrpeabody's picture

Rick may soon find himself working on another network..., just sayin'...

Thu, 12/27/2012 - 12:30 | 3099063 ratso
ratso's picture

Santelli is Italian for clueless.

Thu, 12/27/2012 - 13:08 | 3099172 TheSilverJournal
TheSilverJournal's picture

The DOW hanging in there is only 1/2 of the story. The DOW is measured in dollars. If the companies in the DOW go to crap and the dollar goes to crap at the same rate, then there is essentially no change in the nominal value of the DOW.

So when speaking of what the stock market is indicating about the future of the economy, all it's really saying when stocks rise is that the dollar is going to get hit harder than big companies.

Since a price is a ratio, to say that it's good if the DOW rises is simply ignorance or denial and is ignoring the denominator in the ratio.

Try fifth grade math and convert fractions all while ignoring the denominator. Fifth graders know better. These people are supposedly financial gurus and they can't seem to figure out that a price is a ratio.

Thu, 12/27/2012 - 14:01 | 3099354 knukles
knukles's picture

God Bless all the Bond Guys

Thu, 12/27/2012 - 14:14 | 3099396 willwork4food
willwork4food's picture

..and God Bless all the Banksters. Each and everyone.

Thu, 12/27/2012 - 12:30 | 3099065 redpill
redpill's picture

Eventually the cognitive dissonance between Santelli's increasing realization of the massive unholy alliance of the central banking/financial oligarchy/government's scam of debt servitude on the general population contrasted with the ongoing goal of CNBC to continue/promote/celebrate the continuation of the ponzi fleecing of society will lead to the accelerated marginalization of him as some "crazy right winger at the CME" until such time as Santelli finally crosses some imaginary line and they editorially paint him as some Glen Beck/Alex Jones type person and run him off the network.

But until then, the interesting thing has been watching the evolution of Santelli as a former 'true believer' in the current market system transform into someone who is steadily waking up and pulling back the curtain to see the ugly truth.  The risk is, of course, that at some point when it dawns on him if he continues pressing the truth he may lose his job, he may agree to become a caricature of himself and simply offer clownish commentary within careful confines set by CNBC without the authentic fervor that some of his more famous rants have clearly contained.  Hopefully we aren't already there.

Thu, 12/27/2012 - 13:01 | 3099151 Karlus
Karlus's picture

As much as I like Santelli, I think he is already in CNBC clown mode.

I imagine their message is pretty tightly controlled and I think Santelli is there to try and lend some credibility to the network with market skeptics. I also suspect his rants are kinda self scripted. Remember, the network is about ratings and perhaps not really about news....its "infotainment." I think they saw a ratings bump with the first rant, but much like QE, it's losing its effectiveness with repeated applications.

*Note: I am not disagreeing with him as much as I am trying to explain the "rant" phenom.

Thu, 12/27/2012 - 13:45 | 3099294 SheepHerder
SheepHerder's picture


Santelli not saying anything extraordinary and he has the ZH crowd watching and interested in CNBC for a few brief minutes.  Now if he was spouting off about how we should execute bankers who steal from their clients and the public, end all foreign wars and empire expansion, introduce state controlled complementary currencies backed by state exports, grant states the right to buy their soverignty by paying off their share of Federal debt, or any other unique and out of the box ideas, then I'd be impressed.  

Being obnoxiously loud does not make Santelli's points incredibly unique or insightful.  As I recall Puppet Presidential Hopeful Romney made some of the same points.


Thu, 12/27/2012 - 15:20 | 3099571 Tango in the Blight
Tango in the Blight's picture

Maybe he'll get a show on RT.

Thu, 12/27/2012 - 12:19 | 3099037 derek_vineyard
derek_vineyard's picture

santelli's rants were good the first it getting too repetitive

Thu, 12/27/2012 - 12:40 | 3099102 SilverDOG
SilverDOG's picture

What is not repetitive on Central Nationalized Bull Crap.

You may hear the message as repetitive, most 'tards regard it as terrorism.

To their facade of investment belief. 

CNBC is out of business, its ratings bailout, Saturday Night Live equivalent.

Thu, 12/27/2012 - 12:43 | 3099109 eclectic syncretist
eclectic syncretist's picture

Yep, the Fed, the politicians, and banksters know the game very well and are in complete control of it.  They are going to raise our taxes to help sustain their parasitic "skim" from the hard work of the true Americans.  Unfortunately, Santinelli doesn't understand what he is talking about or he would know and discuss this instead.

I suspect they intend to degrade the economy until some drastic measures (that otherwise would be unthinkably unpopular) permit a further consolidation of power.  Maybe something like a global currency or holy war.

Thu, 12/27/2012 - 13:20 | 3099217 cranky-old-geezer
cranky-old-geezer's picture



The Fed and Feds know exactly what they are doing.

Yes.  They're looting the nation and doing it well.

Only fools believe the cover stories, like "helping the economy recover", "recapitalizing banks", all that bullshit.

Thu, 12/27/2012 - 18:19 | 3100008 CharlesFilson
CharlesFilson's picture

I can't really agree. Few parasites actually kill the host. The Fed has power/wealth only as long as the US's the GDP of the US that backs the paper they print.

I think the Fed is doing their best to preserve the status quo and failing.


Thu, 12/27/2012 - 13:21 | 3099221 red_pill_rash
red_pill_rash's picture

I agree Manthong.

Anyone who thinks that the "the fed doesn't have a clue", needs to get one.

The "New" is always built on the ashes of the "Old".

Thu, 12/27/2012 - 13:21 | 3099224 GottaBKiddn
GottaBKiddn's picture

Exactly. What's not to love about Santelli? He's honest. But he and way too many others are naive to think that "they" are clueless. They know exactly to whom they are slipping the fiscal stiff, and they're through with the foreplay.

Thu, 12/27/2012 - 11:38 | 3098919 ConfederateH
ConfederateH's picture

Santelli is a statist tool that the banking cartel uses to occasionally throw raw meat to wall street.  Notice how he is dissapointed that the fasco-communists and the commiefascists cannot grow up and reach an agreement over who will rape us first and who gets sloppy seconds.

Thu, 12/27/2012 - 11:55 | 3098965 flattrader
flattrader's picture

Amen brother.

Why anyone thinks that asshole speaks some sort of "Truth" is beyond me.


Thu, 12/27/2012 - 12:50 | 3099117 ratso
ratso's picture

Pseudointellectual creations like fasco-communist and commiefascist are a reflection of your lack of education and mindless mimicking of other right wing wingnuts.  They are meaningless contradictions intended to suggest great insight but instead just go on to betray your ignorance.

Thu, 12/27/2012 - 12:53 | 3099130 LFMayor
LFMayor's picture

wow, that was wordy.   Hey, didn't Good Will Hunting threaten to beat you up that one time?

Thu, 12/27/2012 - 13:01 | 3099147 overmedicatedun...
overmedicatedundersexed's picture

TO ALL ZHers. THE attack on gun rights has begun:

New Senate bill to ban sale of all handguns, so call assault weapons on and on from bill:

  • Requires that grandfathered weapons be registered under the National Firearms Act, to include:
    • Background check of owner and any transferee;
    • Type and serial number of the firearm;
    • Positive identification, including photograph and fingerprint;
    • Certification from local law enforcement of identity and that possession would not violate State or local law; and
    • Dedicated funding for ATF to implement registration

    and so it starts the sleeping nation has 1% who may resist 3 million who will not bend the knee to the tyrant's decree. finger print photo's,, maybe they really do want violence. 

    Thu, 12/27/2012 - 13:41 | 3099274 cranky-old-geezer
    cranky-old-geezer's picture




    Hardly.  95% of gun owners will do the fingerprint / photo / LE certification /and any other hoops they have to jump thru.

    Other 5% will be arrested, prosecuted, jailed, guns confiscated under civil forfeiture, have a felony record from then on, can't own guns ever again.

    Registration is the step before confiscation.  Always has been.

    Your chance for revolution is over.  You waited too long.

    Thu, 12/27/2012 - 14:03 | 3099359 ConfederateH
    ConfederateH's picture

    Er... actually I have already renounced.  BTW, can an old geezer like you even get your pud erect, let alone in a pussy like that?

    Thu, 12/27/2012 - 15:29 | 3099589 LFMayor
    LFMayor's picture

    ... might explain the crankiness. 

    Thu, 12/27/2012 - 14:18 | 3099405 cranky-old-geezer
    cranky-old-geezer's picture



    continued (after that ConfederateH dumbass interrupted) ...

    Once Americans are disarmed, 4 million LE ( who would gladly turn their guns on Americans, they do it every day now), will be plenty to keep the other 346 million (sheep) in line. 

    400 million guns?  They'll melt down fine in electric arc furnances, turned into cars, appliances, whatever.

    Thu, 12/27/2012 - 15:30 | 3099592 LFMayor
    LFMayor's picture

    don't worry.  We didn't expect YOU to do anything anyways.  As ever.

    Thu, 12/27/2012 - 19:06 | 3100104 Real Estate Geek
    Real Estate Geek's picture

     New Senate bill to ban sale of all handguns, so call assault weapons . . .


    Thu, 12/27/2012 - 12:02 | 3098988 tango
    tango's picture

    Sorry, but even by ZH's standard (everybody except posters are consipiring for a NWO with banks) this doesn't wash.   Hoping against financial disaster is not throwing your lot in with fasco-communists.  He has ridiculed the CNBC sloganeering and their absurd campaign.  Santelli has stated repeatedly that the problem is NOT taxes but instead, spending, financial ignorance and lack of savings. I could not agree more.

    Thu, 12/27/2012 - 12:12 | 3099010 GetZeeGold
    GetZeeGold's picture



    Michael Jackson and Sir Elton John both concur.....but only one could be reached for comment....and he ain't talking.

    Thu, 12/27/2012 - 12:24 | 3099047 ConfederateH
    ConfederateH's picture

    Yes, Santelli, a statist tool like you, would gladly leave the Federal Government with its hands on our throats as long as enough spending is cut to make his job sustainable.  Meanwhile they are tightening the grip on our throats with staged mass murders and terrorist attacks.  They preparing to seize our weapons, flood the airspace with drones and have the TSA patrol the streets.  Gary North has a great piece on where this leads:


    A decree went forth that all Armenians should be disarmed The Armenians in the Army were drafted out of the fighting ranks, re-formed into special labour battalions, and set to work at throwing up fortifications and constructing roads. The disarming of the civil population was left to the local authorities, and in every administrative centre a reign of terror began. The authorities demanded the production of a definite number of arms. Those who could not produce them were tortured, often in fiendish ways; those who procured them for surrender, by purchase from their Moslem neighbours or by other means, were imprisoned for conspiracy against the Government. Few of these were young men, for most of the young had been called up to serve; they were elderly men, men of substance and leaders of the Armenian community, and it became apparent that the inquisition for arms was being used as a cloak to deprive the community of its natural heads. Similar measures had preceded the massacres of 1895 – 6, and a sense of foreboding spread through the Armenian people. "One night in winter" writes a foreign witness of these events," the Government sent officers round the city to all Armenian houses, knocking up the families and demanding that all weapons should be given up. This action was the death-knell to many hearts."

    Thu, 12/27/2012 - 13:07 | 3099168 Karlus
    Karlus's picture

    My belief is that could "break the seventh seal" here in the US. While there is much grumbling about taking arms, I think that when we see it actually happening, "flash mobs" could form to punish the local magistrates tasked with grabbing guns. A few guys in ski masks could really wreak havoc with the door to door officials...

    Think about how you would feel if you were the guy charged with getting the weapons and people knew where you were....I would think that you would want a new "assignment" pretty quickly. Especially if you were the third or fourth guy in charge of that in a month...

    Thu, 12/27/2012 - 12:16 | 3099029 Stoploss
    Stoploss's picture

    The Bozo cannot fool the Kennedy Kids.


    We posses something the rest do not.

    A B I L I T Y

    Thu, 12/27/2012 - 11:25 | 3098864 SafelyGraze
    SafelyGraze's picture

    just to be clear -- 

    he's paid by nbc

    he stands on the "busy floor" of a tv set

    he joins in the rant-shout-interrupt dialectic

    controlled opposition sideshow

    Thu, 12/27/2012 - 11:42 | 3098927 CPL
    CPL's picture

    CNBC Sock puppet theatre is brought to you by our sponsors Delusion, Lies, Ego and Bankruptcy.


    The guy in the right hand corner by the way I recognize from other interviews that have been posted on here before.  Last I seen him he was talking about JPM in a two piece in studio.  I'll go find the clip.

    Thu, 12/27/2012 - 14:04 | 3099363 CPL
    CPL's picture


    After receiving his bachelor's degree in economics from the university of Illinois, Jim Iuorio has been a 25 year veteran of Chicago trading floors. Much of that career has been spent brokering and trading financial futures and options contracts for large institutional investors or for his personal account. Beginning in 2005 Jim began providing commentary for global financial television stations and is now a contributor for CNBC.

    He's a jack of trades financial guy and a paid actor to CNBC, plus sells HFT solutions.  So anyone confused as to why he was there the solution is easy.  He was paid to wear the smock and act as the foil.  

    His acting hasn't been limited to the smock, it also includes.

    • man on the street
    • man in studio in suit 
    • man acting as expert for JPM, GS, whoever...sock puppet.


    Youtube is full of him.  His analyst is wishful thinking and his largest deal was never probably why he started acting.  His trader career didn't bare fruit.

    Thu, 12/27/2012 - 12:27 | 3099056 TraderTimm
    TraderTimm's picture

    Actually, aside from whether he's a 'plant' or not - he does stand on the Chicago trading floor, not a set.

    Of course, there's also the meta-commentary that trading floors in general are obsolete compared to electronic trading, but that's another story completely.

    Dude is shorter than he looks, smokes like a chimney too - if you want to talk to the guy, just go where all the smokers are near the trading floor entrance, he grabs a square there now and then.

    Thu, 12/27/2012 - 15:31 | 3099597 SafelyGraze
    SafelyGraze's picture

    chicago "trading floor"

    nice one!

    next they'll be filming on a new york "trading floor"!

    Thu, 12/27/2012 - 17:46 | 3099936 TraderTimm
    TraderTimm's picture

    Just go on Lasalle until it stops at the CBOT building. There's a trading floor in there, jackass.


    Thu, 12/27/2012 - 12:05 | 3098998 smlbizman
    smlbizman's picture

    these assholes just use rick for ratings....they poke him with a stick than, cunts like liesman and michelle big tits cabrarro et.als. sit back,  laugh and mock him....never backing up or agreeing with his point..never furthering his  thoughts....i hope for the day when he finally lets it all out, knowing the big shepard's hook is on its way to pull him off the stage, but rick exits stage right (even)...than lets watch them laugh...then i think others may start to grow balls....we need so many more ricks and ben swanns...fingers crossed.. 


    Thu, 12/27/2012 - 12:30 | 3099064 youngman
    youngman's picture

    He is getting applause from the floor did Bartaromo when she told the congressman what an idiot he was......I think the "masses" know he is speaking the truth...

    Thu, 12/27/2012 - 12:07 | 3099002 takeaction
    takeaction's picture

    That is not Cramer?

    Thu, 12/27/2012 - 13:48 | 3099300 walcott
    walcott's picture

    1976 Flyers Game kate smith anthem God bless America

    Fuckn' A!

    Thu, 12/27/2012 - 13:53 | 3099325 walcott
    walcott's picture

    flyers 36-3-1 when Kate Smith Sang God Bless America before their game through 1974

    Kate Smith: God Bless America 1974 Flyers' Stanley Cup

    Fukn' A!

    Thu, 12/27/2012 - 15:00 | 3099516 Tommy Gunner
    Tommy Gunner's picture

    FUCK Rick Santelli the hypocritical bastard!!!

    He rants about people who listened to the crooks who pushed them into outsized mortgages BUT not a fucking peep out of the cocksucker about the banks who benefited from this... not a peep about how the fuckers have been lined up at the Fed window getting ZIRP cash on the taxpayers back TO THIS DAY. 

    Not a peep about the institutionalized corruption that IS Wall Street.  Throw these cocksuckers in JAIL!!!! 

    If you want to scream about something you stupid fuck scream about that. 

    But Nooooooooo - Rick is finger fucking Blankein whilst sucking his cock and getting rogered by Dimon.  He ain't gonna call out his loverboys.....

    Thu, 12/27/2012 - 19:13 | 3100125 flattrader
    flattrader's picture

    >>>not a peep about how the fuckers have been lined up at the Fed window getting ZIRP cash on the taxpayers back TO THIS DAY.<<<

    Thanks for noticing.  I thought I was the only one who had.

    >>>Not a peep about the institutionalized corruption that IS Wall Street.  Throw these cocksuckers in JAIL!!!! 

    If you want to scream about something you stupid fuck scream about that. <<<

    Agreed, but he never will.  He's a bond market butt boy.

    Thu, 12/27/2012 - 11:25 | 3098863 BandGap
    BandGap's picture

    The Dow is now the opiate of the masses.

    Thu, 12/27/2012 - 11:37 | 3098915 tango
    tango's picture

    Bandgap - How true, how true.  There is a similarity among all opiates - religion, stock markets, global warming/Euro/Socialism in Europe, endless growth -  folks twist facts to fit their ideologies.   The market with eternal QE is only slightly related to performance.  I smile at all the MSM folks hyping this market after savaging Bush (14,000+ Dow) for a "jobless recoverty".  Santelli for King of the Universe!

    Thu, 12/27/2012 - 11:59 | 3098979 Mr Pink
    Mr Pink's picture

    Did that trader dude just say Congress showed competence when it passed TARP?

    Thu, 12/27/2012 - 12:25 | 3099051 GAAPpreNixon
    GAAPpreNixon's picture

    Not shit, BULLSHIT!

    THAT'S WHAT THE "FISCAL CLIFF" AND HYSTERICAL SCREAMING about "unfunded liabilities" is when nary a word is uttered about UNFUNDED WARS.

    I say it's time to STOP FUNDING WALL STREET and slap a nice trasnsaction sales tax on the leaches there so we can FUND our UNFUNDED WARS AND other liabilities!

    No more HFT BULLSHIT and a REAL STOCK MARKET where buying and selling is done on fundamentals and GAAP balance sheet principles is what we need NOW!

    A bouyant Dow index should mean something besides Bernanke masturbating Dimon and Blankfein's balance sheets!


    Thu, 12/27/2012 - 13:58 | 3099342 rotagen
    rotagen's picture

    Gee, ya think it might be time to acknowledge that our money is fake, our economy is fake, and our debt is fake?  Nah, let's keep dancing around the creature from Jekyll Island and writing articles about the "fiscal cliff".

    Thu, 12/27/2012 - 14:04 | 3099362 rotagen
    rotagen's picture

    Jekyll Island bitches.  Fake money, fake economy, fake debt, fake concern.

    Thu, 12/27/2012 - 11:01 | 3098782 caShOnlY
    caShOnlY's picture

    But the consumer comfort index is hovering at its strongest point since March 2008 - isn't the FED partially responsible for this good piece of green shoot?????  Come on folks, right after a dismal holiday shopping season isn't this just what the doctor ordered to boost that market???? 

    consumers are probably feeling comfortable knowing they didn't run their credit cards to the hilt!!

    Thu, 12/27/2012 - 11:05 | 3098788 caimen garou
    caimen garou's picture

    wait til they get that cc bill next month

    Thu, 12/27/2012 - 11:14 | 3098821 S5936
    S5936's picture

    Yup, happy days are here again.

    Thu, 12/27/2012 - 11:42 | 3098935 tango
    tango's picture

    Cashonly - They can't charge to the hilt because their money is now going to the exploding costs of health care under the "Affordable Health Care Act" - a new low in DC 1984 Speak.

    Thu, 12/27/2012 - 11:03 | 3098783 Cognitive Dissonance
    Cognitive Dissonance's picture

    I don't always agree with him, but Santelli does give good rant.

    <I (heart) the Santelli.>


    Thu, 12/27/2012 - 11:25 | 3098862 MachoMan
    MachoMan's picture

    I'd like to give him a few strings from the ceiling, a louiseville slugger, and some cheap chinese products just so we can get an apples to apples comparison on epic rants...  I'm thinking that wallstreetpro has some better endurance though.

    Thu, 12/27/2012 - 12:15 | 3099018 Cognitive Dissonance
    Cognitive Dissonance's picture

    What ever happened to WallStreetPro2?

    Thu, 12/27/2012 - 12:36 | 3099080 token
    token's picture

    No Doubt!  Where did he go.  I had a man crush on that dude.

    Thu, 12/27/2012 - 11:02 | 3098785 caimen garou
    caimen garou's picture

    and only one TV news man does! go RICK keep up the rant!

    Thu, 12/27/2012 - 11:05 | 3098790 Anasteus
    Anasteus's picture

    The Fed does have a clue but it's better to know nothing about it unless one wants to get stunned.

    Thu, 12/27/2012 - 11:06 | 3098792 TerminalDebt
    TerminalDebt's picture

    They should just vote for a 90% rise in taxes in 2022 and a cut to all spending. That will show a massive future surplus. They can always vote to change it later. Raise the debt ceiling to 100 Trillion and forget about it for 5 years.


    Thu, 12/27/2012 - 13:00 | 3099143 SilverDOG
    SilverDOG's picture

    We, the US, already owes far more than 100 trillion.

    By 2022, there will not be any US, as we assume it is today.

    Thu, 12/27/2012 - 19:09 | 3100113 Real Estate Geek
    Real Estate Geek's picture

    That will be quite convenient for the NWO.

    Thu, 12/27/2012 - 11:07 | 3098798 fuu
    fuu's picture

    The video you are trying to access is unfortunately unavailable at the moment.

    Thu, 12/27/2012 - 11:08 | 3098800 Flakmeister
    Flakmeister's picture

    The Santelli doth protest too much, me thinks....

    Usually one needs to strip away the faux anger and reveal the self-serving nature of his diatribe...

    But in this case he is spot on...

    Thu, 12/27/2012 - 11:25 | 3098865 Bay of Pigs
    Bay of Pigs's picture

    A self serving diatribe? I thought you loved those?

    Thu, 12/27/2012 - 12:24 | 3099050 gmrpeabody
    gmrpeabody's picture



    Thu, 12/27/2012 - 11:08 | 3098801 rsnoble
    rsnoble's picture

    The Fed and gov't doesn't have a clue? Bullshit.  They won't let it collapse because they'll lose control. They have only a few options:  Take it as far as they can hoping they can really fix it AND filling up their money bags as many times as possible while there in office in case it doesn't work.

    Go ahead and hand your gun over to these people. LMAO.

    I always knew this would end in finger pointing.  I'd rather see redneck bob vs. richy rich rather than some mouth on the exchange floor.

    Thu, 12/27/2012 - 11:14 | 3098823 Mr. Hudson
    Mr. Hudson's picture

    Richy Rich will hire Redneck Bob to kill Larry Liberal.

    Thu, 12/27/2012 - 11:26 | 3098868 CJHames
    CJHames's picture

    My money is on Redneck Bob, or as we refer to him here in TX, "Billy Joe Six Pack."



    Thu, 12/27/2012 - 12:04 | 3098992 Mr Pink
    Mr Pink's picture

    The Fed. the President and Congress don't have a clue? I'm pretty sure they know exactly what they are doing

    Thu, 12/27/2012 - 12:41 | 3099096 NotApplicable
    NotApplicable's picture

    Yeah, gettin' laid, and gettin' paid!

    Otherwise, they only know to do what they're told by their handlers.

    Thu, 12/27/2012 - 13:06 | 3099165 SilverDOG
    SilverDOG's picture



    In not letting "it" collapse, all around will crumble.

    Detroit is a perfect example, a template.

    Assume otherwise LMAO.

    WW3 will complete the cycle.

    Thu, 12/27/2012 - 11:08 | 3098802 youngman
    youngman's picture

    Someone said that he tweeted something good too.....I don´t tweet....anyone have a connection...

    Thu, 12/27/2012 - 12:41 | 3099103 NotApplicable
    NotApplicable's picture

    Neither does he.

    Somebody makes sure the rants go out though.

    Thu, 12/27/2012 - 11:09 | 3098804 francis_sawyer
    francis_sawyer's picture

    Santelli shouldn't allow joobux to raise his blood pressure... It's not worth it...

    Thu, 12/27/2012 - 11:10 | 3098810 WhiteNight123129
    WhiteNight123129's picture

    I am not American but when I see Americans showing some backbone like that, I am thinking not everything is lost for America. Maybe I am too hopeful, but I do not know, in end the economy is driven by its people.


    Thu, 12/27/2012 - 11:28 | 3098875 DosZap
    DosZap's picture

    in end the economy is driven by its people.

    Here, the economy is not driving, because the real engine for growth(business), are scared shitless of what the unknown is, and what is going to hit them next,Obama is keeping his cards close, and NO one in their right mind can afford to hire, or add to their companies precisely because of the UNKNOWN.

    This has what has stifled any semblance of growth in this country.

    ONE mans agenda,w/little demons helping.

    Thu, 12/27/2012 - 11:51 | 3098958 tango
    tango's picture

    It's so eerily John Galtish.  Our downward plunge is quite apparent to anyone with an atom of sense.  Everyone knows that free markets produce more, prudent saving and living within ones means is the only sustainable path and that the more politicians tinker and interfere, the worse the economy gets.   Yet the DC "experts" solution:   unrestrained spending, mountains of regulation, stifling of Constitutional liberties and central planning.   Is it ideology, action-reaction or inertia?  I just don't get it.

    Thu, 12/27/2012 - 13:12 | 3099180 SilverDOG
    SilverDOG's picture



    No wonder this country is tanking. 

    Scared is an inoperable position to hold.

    Fear is generated by ignorance.

    Sadly, ignorance abounds in our country.

    Duck and cover, or have you, your company, and all you know, swept away.

    Count only upon yourself.

    Thu, 12/27/2012 - 11:28 | 3098877 insanelysane
    insanelysane's picture

    All is lost.  There are too many people living on the government teet to have a constitutional republic work.  The few remaining conservatives will be beaten down to make way for massive government spending.  Things won't be different until we hit Wiemar levels of inflation.

    Thu, 12/27/2012 - 12:20 | 3099038 Brindle702
    Brindle702's picture

    Nicely said.  One of the lessons from the last election was that we voted for more socialism, not less ... more dependence, not less.

    Thu, 12/27/2012 - 12:43 | 3099112 NotApplicable
    NotApplicable's picture

    I'm nearing fifty, and can't recall an election ever resulting in anything but that. The flavor of the lies change, that's about it.

    Thu, 12/27/2012 - 13:17 | 3099199 HalinCA
    HalinCA's picture

    And then the final act to the lost of the Republic, as calls for a strongman to fix things overwhelms us all.  I wonder if the Reichstag Congress will have to get burned this time too.

    Thu, 12/27/2012 - 15:04 | 3099529 Tommy Gunner
    Tommy Gunner's picture

    Remember who controls the Fed....  who are the big shareholders behind the big banks?

    Thu, 12/27/2012 - 12:17 | 3099031 Brindle702
    Brindle702's picture

    There aren't enough patriots to win this.

    Thu, 12/27/2012 - 12:56 | 3099137 LFMayor
    LFMayor's picture


    Let's find out... and I know lots of good fun that is funny.

    Thu, 12/27/2012 - 13:15 | 3099198 SilverDOG
    SilverDOG's picture



    The Revolution was only 3% of the colonies population.

    The remainder stuffed their cowardly heads up their ass.

    You may be correct.

    Thu, 12/27/2012 - 11:11 | 3098812 S5936
    S5936's picture

    BING F'IN GO !

    Thu, 12/27/2012 - 11:12 | 3098813 Lendo
    Lendo's picture

    I love it when Schiff & Santelli talk about the collapse of the dollar. People get very upset when their belief systems are threatened.

    Especially statists that say PMs are for fools.

    Thu, 12/27/2012 - 11:21 | 3098841 Stoploss
    Stoploss's picture

    PM's also say statists are fools!  :)

    Thu, 12/27/2012 - 11:24 | 3098857 GACGB1000
    GACGB1000's picture

    Something I just thought of today.  When everyone keeps talking about the supposed collapse of the US dollar.  I would ask them, well, while your selling the dollar, what currency are you buying? I can't think of too many that I'd like to buy.  I'm Australian btw.

    Thu, 12/27/2012 - 11:40 | 3098916 francis_sawyer
    francis_sawyer's picture

    currency???... all paper currencies are joobux to some degree or another... You don't SELL them... You trade the little pieces of shit paper for useful things like food, ammo, seeds, lumber, tools, etc... Then ~ if you're handy & nifty, you can put those things to work to build yourself a decent self sustaining life without having to pay the 'tolltakers' every quarter of a mile on the journey...

    Of course ~ if you happen to LIKE the idea of a bunch of greedy pussies collecting tolls [on your money] every step of the way, that's your prerogative...

    Thu, 12/27/2012 - 12:56 | 3099135 Diogenes
    Diogenes's picture

    The Canadian dollar and Swiss franc will be among the last down the drain. Gold and silver will still be gold and silver. Land, art, furniture, antiques, stamps, rare coins, pretty much anything tangible that can't be mass produced or counterfeited will retain value.

    Thu, 12/27/2012 - 16:01 | 3099677 August
    August's picture

    My money is on the Swiss franc and the Singapore dollar (or whichever greater-east-asia-coprosperity currency into which it may merge). 

    The Canuckistanis don't want the CAD to get too out of line with the USD; well, that's what I heard.

    Thu, 12/27/2012 - 11:12 | 3098814 SheepDog-One
    SheepDog-One's picture

    We must have a 'panic event', buzz the sheeple with a market drop so everyone shrieks...then we can get busy robbing them some more.

    Thu, 12/27/2012 - 11:13 | 3098816 upb
    Thu, 12/27/2012 - 11:13 | 3098818 Seasmoke
    Seasmoke's picture

    Clawback any wealth accumulated since they walked into congress to today. Harry Reid would be broke and homeless.

    Thu, 12/27/2012 - 11:13 | 3098819 pods
    pods's picture

    It is at time like these where I just cannot take all the stupid floating around.

    For 99% of the time, people have zero clue about anything related to real monetary matters.  Then everyone gets whipped up in a fervor and becomes an "expert" about all things fiat.

    And it always seems that their pet gravy train is the most important thing on earth.  Everyone else can piss off as long as their preferred feed trough stays full.

    The stupid, it burns.  Or maybe it is the Silkwood Shower I must take to wash their stupid off of me?


    Thu, 12/27/2012 - 11:21 | 3098842 Ignatius J Reilly
    Ignatius J Reilly's picture

    Honestly, I vasilate between the "they know what they are doing, they just don't want to admit to it." and "they are less intelligent than monkeys pulling levers."

    Thu, 12/27/2012 - 11:24 | 3098856 SheepDog-One
    SheepDog-One's picture

    I think they 'knew what they were doing', but now that they're 'here', kinda like bank robbers getting cold feet when it's finally time to pull off the job...they're making excuses and marching in place because the outcome is not certain as the imagined and actually they probably see they lose it all instead of becoming all-powerful.

    Thu, 12/27/2012 - 13:00 | 3099144 Diogenes
    Diogenes's picture

    They know what they are doing. They are in  a shit fight with 50,000 other  psychopaths where the prize  is to grab as much money and power as possible as fast as possible, before you get a knife in the back. Under the circumstances, only the crassest short term thinking pays off.

    Thu, 12/27/2012 - 11:58 | 3098973 TWSceptic
    TWSceptic's picture

    Allow me to make it easier for you. There is a group of bankers (cartel) that can print currency out of thin air and ask interest for it which is highly profitable for them. Now read your comment again and pick your choice.

    Thu, 12/27/2012 - 11:21 | 3098846 SheepDog-One
    SheepDog-One's picture

    So then...when is the big 'market correction' everyone is talking about to 'stir people into 'action', tomorrow I guess? Certainly isn't today seems everything is still fogged up in Hopium smoke. 

    Thu, 12/27/2012 - 14:25 | 3098944 dracos_ghost
    dracos_ghost's picture

    I seriously doubt they don't raise the debt limit -- it will be spun as a W on all sides of the argument. That's the only thing that matters. They can mentally masturbate all they want in the little Beltway triumvirate of House/Senate/WH; but they are negotiating what? There is no budget, no line items to address. It's "We are going to spend 20T and you're going to spend 20.000001T therefore we are shrinking the government, we win"

    Outright embarassing.

    Thu, 12/27/2012 - 11:21 | 3098847 youngman
    youngman's picture

    Harry Reid was just speaking..pointing fingers..mumbling...sound bites.... but they seemed was a strange speech...

    Thu, 12/27/2012 - 11:25 | 3098860 Yikes
    Yikes's picture

    Market didn't like it much.  It's going to have to give a bigger signal than this to get this guys to make a move.


    Thu, 12/27/2012 - 11:30 | 3098884 insanelysane
    insanelysane's picture

    Like most politicians Harry Reid was never a smart guy and now that he is senile he comes across as borderline functional.

    Thu, 12/27/2012 - 12:15 | 3099023 Brindle702
    Brindle702's picture

    Can you provide a link?  I'm not finding it right off.  Would love to see that.

    Thu, 12/27/2012 - 12:46 | 3099119 Brindle702
    Brindle702's picture

    ... at ... 00:02:49

    you're right, it sucked


    Thu, 12/27/2012 - 14:37 | 3099458 Chaos_Theory
    Chaos_Theory's picture

    Just remember Jimmy Stewart, every time Harry Reid or Nancy Pelosi speaks, a constipated Angel takes a shit.

    The converse is every time Bohner or McConnel speak, a hung over Angel pukes his guts out.

    Thu, 12/27/2012 - 11:23 | 3098853 Mr. Hudson
    Mr. Hudson's picture

    Is there a conspiracy here? Is there really a tangible, identifiable collect group of people who control the world’s financial system; who are stealing the world blind, or is this the evil actions of Alex Jones’ unknown “Bogeymen Globalists”?

    Thu, 12/27/2012 - 11:34 | 3098904 pods
    pods's picture

    Of course there is.  It is not really a conspiracy.  Just how it is.  If you look back to the birth of modern central banking you will see many names repeated.

    I would recommend "The Secrets of the Federal Reserve" by Eustace Mullins.

    Griffin's book is another good one, but Mullins lays out the players better, where Griffin focuses alot of the mechanics of the FED/central bank.


    Thu, 12/27/2012 - 12:00 | 3098983 flattrader
    flattrader's picture

    Yeah.  They  [ bankers, industrialists, corporate CEOs, etc...] don't have to meet in a smoke filled room, put on robes and meet in secret once a year or sign a blood pact.  They know the script and understand the club rules.

    And occasionally one of them has to go down to "save" the others or falls prey to a rouge herd element.

    It's all good.

    Thu, 12/27/2012 - 12:39 | 3099095 insanelysane
    insanelysane's picture

    Google "libor" and tell me there are no financial conspiracies.

    Thu, 12/27/2012 - 13:06 | 3099163 Diogenes
    Diogenes's picture

    There isn't one conspiracy. There are hundreds of them. More come to light every day. Others can be inferred from otherwise inexplicable events and coincidences. Every political and financial scandal that makes the news, involves a conspiracy of some kind. All of them were sniffed out beforehand by conspiracy nuts.

    Thu, 12/27/2012 - 11:23 | 3098855 MachoMan
    MachoMan's picture

    It's an eternal question with our administrators...  are they completely corrupted or completely incompetent?  I've toiled with this one over the years...  but I think I finally figured out the answer...  they're both.

    Thu, 12/27/2012 - 11:36 | 3098912 Ricky Bobby
    Ricky Bobby's picture

    I have always maintained that a society can survive corrupt leaders and a society can survive stupid leaders but a society cannot survive stupid corrupt leaders.

    Thu, 12/27/2012 - 12:15 | 3099024 DoChenRollingBearing
    DoChenRollingBearing's picture

    THAT is an interesting idea.  Peru, for example, has been surviving its last FOUR corrupt presidents, but none of them has been stupid.

    Earlier, Peru suffered mightily when their top guys were both corrupt and stupid.

    Excellent comment, it turned a switch on, thanks.

    Thu, 12/27/2012 - 12:01 | 3098985 TheGardener
    TheGardener's picture

    "It's an eternal question with our administrators... are they completely corrupted or completely incompetent?
    I've toiled with this one over the years... but I think I finally figured out the answer... they're both. "

    Imagine yourself pulling the strings from behind the
    scenes. You just gave a perfect job description for the
    kind of administrators you should have in place.

    Thu, 12/27/2012 - 11:25 | 3098861 asteroids
    asteroids's picture

    Yes, they have a clue. Every morning for the rest of their lives these assholes will look into the mirror as they shave and wonder "my God, what the fuck have we done, and for what." Since they are amoral, they'll forget about it in 30 seconds and go to breakfast.

    Thu, 12/27/2012 - 11:30 | 3098883 Atlantis Consigliore
    Atlantis Consigliore's picture

    The Fed, Congress, Pimp in Chief are clueless; public has sold and RUN for the hills:

    Weimar Fed,  hyperinflation,  they are clueless, incompetent, Parliament of Whores. 


    Country middle class are on a capital strike and now spending strike.....No Maas,  

    watch the tax rates go up and tax collections go to 15% of GDP,   with a 1.5 trillion gap:   we ARE GREECE, Italy. massive tax underground economy


    Thu, 12/27/2012 - 11:40 | 3098924 youngman
    youngman's picture

    You are right..the Dems think that raising tax rates means more does not...but you can never teach them that because is does not fit their redistribution gameplan...but less revenue...more expenses means bigger deficits....and that is where we are going...1.3 trillion goes to 2 trillion a year I think....and then up from there as the rest of the world dumps the USA dollar ....

    Thu, 12/27/2012 - 11:43 | 3098937 kito
    kito's picture

    Wrong Rick.....the president, the fed and congress know EXACTLY what is transpiring.......clinging to the last strands of the status quo.....

    Thu, 12/27/2012 - 12:58 | 3099140 Jam Akin
    Jam Akin's picture

    Keeping the current game going as long as possible.  

    Thu, 12/27/2012 - 11:43 | 3098939 hapless
    hapless's picture

    "The stock market takes all the news stories and filters them for us..."

    So what was the Dow filtering for us when it hit 14100 in October 2007?

    Thu, 12/27/2012 - 11:44 | 3098941 Imminent Collapse
    Imminent Collapse's picture

    Somethin's happening here
    What is ain't exactly clear
    -Buffalo Springfield-

    Thu, 12/27/2012 - 12:23 | 3099044 Bay of Pigs
    Bay of Pigs's picture

    There's a man with a gun over there...

    Thu, 12/27/2012 - 13:53 | 3099322 fuu
    fuu's picture

    Telling me I got to beware.

    Fuck it:

    Thu, 12/27/2012 - 12:08 | 3098946 jjsilver
    jjsilver's picture

    Once again, more nonsensical distraction, ignoring the real issue regarding the federal Reserve. Completely scripted soundbites for the brain dead masses who have no clue



    Thu, 12/27/2012 - 11:55 | 3098969 Atlantis Consigliore
    Atlantis Consigliore's picture

    F+++k the FED, go print $ 45 B and buy 300,000 homes a month....  keep the mortgage spread up from 1.5 % to 2.0% in favor of the banks, Lend less. 

    Thu, 12/27/2012 - 12:15 | 3099011 Zer0head
    Zer0head's picture

     it's 85 billion of printing going on though BBG would have you believe it's just 45b


    Watch BBG's very own Steve Lieman aka Mike McKee official Bloomberg Fed mouthpiece as he twice insists it is $45B to Pimpco's Tony Crescenzi who in turn dismisses McKee as the lightweight he is

    Thu, 12/27/2012 - 12:04 | 3098993 stant
    stant's picture

    rick james my ass IAM RICK SANTELLI BITCH

    Thu, 12/27/2012 - 12:05 | 3098996 ebworthen
    ebworthen's picture

    The whole CNBC "Rise Above" meme has been complete bullshit from day one; no talk of Jon Corzine or the Moral Hazard of privatized gains and socialized losses - only the call for more government gravy to benefit the corporatocracy and pump the rigged markets.

    We might be seeing Rick on Fox Business or doing crop reports for some ag. outlet (hope not).

    Thu, 12/27/2012 - 12:18 | 3099036 JR
    JR's picture

    Breaking in and listening to Lew Rockwell talking with Gerald Celente...

    CELENTE: Everyone should understand that this battle, by the way, is not mine. It's everybody's battle. The criminality of what the money changers, the political and financial mob can get away with is in front of everyone's eyes. Here's something that comes under the category, Lew, of "you can't make this up."

    One of the trustees, Louis Freeh, former FBI director –

    ROCKWELL: Oh, yes. And a creep.

    CELENTE: Yes. I call him Louis Freeh-loader.

    You know, another one of these guys that gets these jobs because he's a member of the club. Well, he decided, Louie did, that the COO, the CFO and the general counsel of MF Global, for doing such a wonderful job in cleaning up this mess, should get a bonus. In other words, they didn't steal enough of my money and everybody else's; they've got to get whatever's left. And I'm saying that it's not only MF Global. You know, pick up any day's paper and read about the banking frauds that continue to go on, and the schemes undreamed of that they come up with to make it seem as though the banks are being punished when we're paying the freight.

    I'm going to make this really clear, Lew. Unless you have your money in your pocket, you don't own it. I don't care if you have it with MF Global, Raymond James, Charles Schwab, you have it with Mickey Mouse, because it ain't your dough. And they're going to change the laws any time they want to make sure that you don't have it.

    And there's no criminality involved in this. I mean, you saw what's his name over there, Jon Corzine, former CEO of Goldman Sachs, former governor of New Jersey and Senator of New Jersey, when he went before that rinky dink committee over there, the House committee, to answer question. What was the word in front of his name? "Honorable" Jon Corzine. Honorable? How about Jon "the Slime" Corzine? Can anybody say that?

    The point being, Lew, there's no indictment. There's no criminal charges. Justice, the word "justice" – everybody out there understand this, it's J-U-S-T U-S, just us.

    So that's how it's going with MF Global. It's business as usual. The merger of state and corporate powers, Fascism. We're getting raped in broad daylight by the money changers, the loan sharks or, as they like to call themselves today, bankers.

    ROCKWELL: Gerald, they, of course, stole your money for a significant period of time. Have you gotten some of it back, all of it back?

    CELENTE: I got two-thirds of it back.

    ROCKWELL: Two – unbelievable. So they stole a third of your resources?

    CELENTE: They stole a third of my resources, and then they're cutting up what's left over to give to their buddies! You know, let's call this what it is. I've said this many times before. You know, if the names on Wall Street were called Celente, Caruso, Mondavi, Pacini, Rossini, they'd call it the Mafia. But now you've got Louis Freeh in there; he's a former FBI guy. Hey, it's OK. You know, come on! This is a criminal operation. And it's going on in front of everyone's face.

    And whether it's in the U.S. or the E.U. – look at the scheme that they came up with over there, Lew, just before Christmas and continuing on now to keep the ponzi scheme going on over there. Oh, the head of the ECB, Mario Draghi. Mario Draghi? You mean the former vice chairman of Goldman Sachs gang over there in Europe? Yes, that Mario. Well, he says, "I'll tell you what, you guys, the money changers and the banks, I'm going to give you all the money you need. Take as much as you need. Don't worry about it. You can pay me back in three years. Just keep the ponzi scheme going. I'll charge you 1% interest rate but put it back with us, put it back in the bank. We'll hold it. You can use it as much as you want. We'll give you 25% back." It's one big scheme and everybody's paying for it. They're paying for it out of their pockets and they're paying it with their lives.

    ROCKWELL: Gerald, what's going to happen in Europe? Of course, the governments and the banks working together are willing to give every dime of the people's money to the banks and to the governments. But can they actually get away with it or is the crisis even beyond their control?

    CELENTE: It's beyond their control. And that's why they're cracking down like they're doing right here in the good ol' USA. You know, when the money stops flowing down to the man on the street, the blood starts flowing in the streets. This is as old as history. And that's what's going on right now. The people have nothing. And for what? Because the banks made bad bets. That's all it is. They made bad bets and they want the people to cover the losses.

    And the big lie becomes – I'll tell you why – what we have to do to fix this. We have to cut pensions, benefits. We're going to raise the retirement age until after you die. You don't deserve anything. Oh, by the way, we're going to put tax on top of tax on top of tax. We're going to tax you every way you can look. Oh, and if you break the law in the most minor way, we're going to clamp down on you to get more money. And that's going to fix the system....

    Thu, 12/27/2012 - 12:06 | 3099001 Monedas
    Monedas's picture

    Harry Reid .... a good example of "Fractional Senility" !

    Thu, 12/27/2012 - 12:09 | 3099004 Zer0head
    Zer0head's picture

    circa 1979

    The affidavit also revealed that some of the reputed mobsters felt they had control over at least one top Nevada official. Harry Reid, chairman of the Nevada Gaming Commission, has said federal authorities felt he was the "Mr. Clean" referred to in wiretapped conversations, But Reid has denied any connection to organized crime.


    Thu, 12/27/2012 - 12:17 | 3099034 DoChenRollingBearing
    DoChenRollingBearing's picture

    Monedas, Zer0head,

    As serious investigation of the loathsome Harry Reid is way past due...

    Thu, 12/27/2012 - 12:13 | 3099016 Super Broccoli
    Super Broccoli's picture

    oh well we heard that already ... that doomsday just never happens ! PRINT baby !

    Thu, 12/27/2012 - 12:16 | 3099028 Yes_Questions
    Yes_Questions's picture


    Well, Kernen did call himself Forrest Gump.

    Low yield Truthiness on CNBS.

    Though in the case of Santelli, there is no Box of Chocolates comparison.  We're sure he'll deliver the ranting rhetoric, we know what we're gonna get.

    Thu, 12/27/2012 - 12:24 | 3099048 TheMayor
    TheMayor's picture

    Wake up America, we have a spending problem!


    Thu, 12/27/2012 - 12:54 | 3099132 IridiumRebel
    IridiumRebel's picture

    23 trillion by the end of Obama's second term. We're FUCKED. Time for more stacking.

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