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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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.....

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.

BandGap's picture

The Dow is now the opiate of the masses.

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!

Mr Pink's picture

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

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!


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".

rotagen's picture

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

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!!

caimen garou's picture

wait til they get that cc bill next month

S5936's picture

Yup, happy days are here again.

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.

Cognitive Dissonance's picture

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

<I (heart) the Santelli.>


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.

token's picture

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

caimen garou's picture

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

Anasteus's picture

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

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.


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.

Real Estate Geek's picture

That will be quite convenient for the NWO.

fuu's picture

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

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...

Bay of Pigs's picture

A self serving diatribe? I thought you loved those?

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.

Mr. Hudson's picture

Richy Rich will hire Redneck Bob to kill Larry Liberal.

CJHames's picture

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



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

NotApplicable's picture

Yeah, gettin' laid, and gettin' paid!

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

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.

youngman's picture

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

francis_sawyer's picture

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

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.


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.

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.

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.

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.

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.

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.

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.

Tommy Gunner's picture

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

Brindle702's picture

There aren't enough patriots to win this.

LFMayor's picture


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

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.

S5936's picture


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.

Stoploss's picture

PM's also say statists are fools!  :)

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.