Santelli To Congress: Ignore The Market, Focus On Your Country

Tyler Durden's picture




 

CNBC's Rick Santelli nails it once again by cutting through the idiocy and spin that is almost the entire mainstream media's view of the 'fiscal cliff' resolution. His point, among many he makes in this brief but compelling clip, is that the massive amounts of arm-twisting of the House Republicans not to add any Amendments was not about the 'economic turmoil' it might cause (as so many press wanted to report) but that "it would have riled up the stock market." The shouting Chicagoan explicitly states: "the Country, and Congress in particular, ...should never again use the stock market as their main barometer when addressing what's wrong with the country". Santelli drives his point home with examples from previous equity market downturns as he makes the critical point that it took 20 years to catch Madoff's ponzi scheme and he wonders how long we will remain dumbstruck by the Fed's printing presses, FASB, et al. into believing everything is good because stocks are going up. "Take a look at yourself in the mirror," he admonishes, but watch this 3-minute clip first for enlightenment!

 

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Wed, 01/09/2013 - 13:59 | 3137080 Snakeeyes
Snakeeyes's picture

Good one Rick! 

Housing market is in limbo still. Mortgage purchase appllcations DESPITE FED ACTION) is still below levels from the last ten years.

Interest rates approaching zero bound. Congress/Obama can't stop spending and borrowing.

http://confoundedinterest.wordpress.com/2013/01/09/mortgage-purchase-and...

Wed, 01/09/2013 - 14:04 | 3137100 Hippocratic Oaf
Hippocratic Oaf's picture

Thank you Rick Santelli, you are now fired.

Regards,

 

CNBC Mgt.

Wed, 01/09/2013 - 14:06 | 3137109 Michaelwiseguy
Michaelwiseguy's picture

The "Human Interest Story Model" used by the MSM to tug on sheeples heart strings isn't working anymore. People are turning them off and TV ratings are virtually zero because people don't like the psychological social engineering being done on them. People in huge numbers are going to the Internet to get real news with substance, not crying weepy human interest story crap.

Wed, 01/09/2013 - 14:11 | 3137139 insanelysane
insanelysane's picture

Poor Rick.  At one point I though he understood it but apparently not.  The market is the country because if the market tanks, peoples' 401Ks go to zero.  That is a big problem because most people are optomistic so they sit there and think I can scrape by and at least my 401K is doing great.  The FED understands this and that is why they are pumping cause when all hope is lost, all hell breaks loose.

Wed, 01/09/2013 - 14:26 | 3137190 trav777
trav777's picture

they are- Israel

Wed, 01/09/2013 - 15:00 | 3137417 The They
The They's picture

I would expect americans to have much more in the bond market than in stocks

Wed, 01/09/2013 - 15:14 | 3137492 tango
tango's picture

Dear Mr. They (or just plain "The")

The vast majority of Americans own neither stocks nor bonds because the vast majority of Americans don't save a dime to invest.  With $100's for cable, smart phones, IPADs and PCs not to mention gas and the meteroic rise in health premiums, those who could afford to save aren't.  The rest are already on the dole so the idea of saving or planning - much less investing - is utterly preposterous to them. 

Wed, 01/09/2013 - 20:01 | 3138930 FEDbuster
FEDbuster's picture

And there some that "invest" in physical precious metals (gold, silver, copper, brass, lead), long term physical commodities (wheat, beans, oatmeal, rice, etc) and other non-rehypothicated items.

Wed, 01/09/2013 - 14:49 | 3137342 donsluck
donsluck's picture

Dear Insane...anyone who stays fixated on stocks for their entire 401k gets what they deserve. If you want your money to work for you, you must whip it like a lazy mule. The more "mules" the more work on your part to make them work. The closer you are to your target in assets for retirement, the greater you proportion of work day has to be devoted to the "mules'" feeding and care. It's a matter of laziness. Witness SS, who's ultimate return in NON INFLATION adjusted dollars may very well be -(negative) 25%!

Wed, 01/09/2013 - 15:18 | 3137516 tango
tango's picture

Donsluck - the sad thing is that any company trying to pull the SS scheme and surviving only by phoney means would have been drawn and quartered by the PTB.  I have argued until I am exhausted that SS is bankrupt and that all our "contributions" are lost forever but for most it is the number one retirement vehicle.   Maybe we can follow Spain's example and invest our savings in "safe" sovereign debt. 

Wed, 01/09/2013 - 15:50 | 3137745 insanelysane
insanelysane's picture

Just to set the record straight, I choose not to participate in the 401K scheme and only hold physical.

Wed, 01/09/2013 - 16:06 | 3137840 fonzannoon
fonzannoon's picture

Rick said this morning "I think Ben Bernanke is a great american'.

That was all i needed to hear.

Wed, 01/09/2013 - 17:16 | 3138237 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Maybe he mis-spoke, and meant to say "great zionist" instead?

Wed, 01/09/2013 - 23:46 | 3139631 jerry_theking_lawler
jerry_theking_lawler's picture

fonz....what's the rest of the story....don't be like a liberal and take snipets out of context....give us Rick's full quote or shut your trap. yeah, i said shut your trap.....i am tired of the sound bite, snipet america. i want the full story and i want a consistent story.

*now, I agree, Ben Bernake can go swimming in a lead bikini, but that is not the point.

Thu, 01/10/2013 - 07:43 | 3140112 fonzannoon
fonzannoon's picture

He went on to basically say he disagrees with what Bernanke is doing. So That is kind of to your point.

My point is, the message that he conveyed is that whether Bernanke is right or wrong, he is a great American. I kind of take issue with that.

 

Wed, 01/09/2013 - 14:20 | 3137166 Freddie
Freddie's picture

+1

Pull the plug on ALL TV and Hollywood.  They want to disarm you and they are scum.

Rick Santelli rocks.

 

Wed, 01/09/2013 - 15:35 | 3137628 fuu
fuu's picture

Why does he rock? He wants to disarm me.

Thu, 01/10/2013 - 17:25 | 3142210 boogerbently
boogerbently's picture

You really can't afford to be a "single issue" voter, anymore.

Wed, 01/09/2013 - 14:47 | 3137203 LouisDega
LouisDega's picture

Its called the Mark Levin technique. It works until it doesnt. When it doesnt, There is Netflix and HULU

Wed, 01/09/2013 - 15:07 | 3137465 GtownSLV
GtownSLV's picture

What's new... the Jewish banking cabal that controls the media is using the media to create socialist propaganda to drive government policy towards stripping away any remaining assets or dignity the middle class in this country have. Been there, seen that. Let's just bring on the latest in a never ending cycle of end games; the poor go to war and get killed off, the working class rebuilds and save a little money and the TPTB steal it again...

 

Wed, 01/09/2013 - 15:52 | 3137756 Buzz Hacksaw
Buzz Hacksaw's picture

Frikin' re runs.

Wed, 01/09/2013 - 16:20 | 3137912 Shizzmoney
Shizzmoney's picture

This point, and the point below, nail it.

In this financialized system, the Market *IS* America's Report Card. 

That's why a week or two after some young guy takes an AR-15 and goes Call of Duty on a group of kindergardeners, all you could hear about is the Fiscal Cliff and how it will impact our taxes...instead of PAUSING as a nation, looking in the mirror, and trying to fix our issues and get the bad people out of positions of power that attributes to the daily mess that is American life.

People are just sick and tired of being lied to.  They are also physically tired from working multiple jobs, taking care of family, and other activities to find to take some time to sit in front of the TV and be bullshitted to.

Hey CNBC, do you know why you are losing ratings? Because the majority of America's debts serfs during the day are ACTUALLY FUCKING WORKING.

Wed, 01/09/2013 - 14:21 | 3137168 Divided States ...
Divided States of America's picture

Well Congress may not be taking care of their country and the American people like me, but they are definitely taking care of Zion and the Jew's interest, thats for sure.

Wed, 01/09/2013 - 15:21 | 3137531 tango
tango's picture

What is this obsession with Jews? I know several and as far as I can tell Congress is not taking care of them.  Jesus, I thought this kind of talk (blaming ethnic groups for all our troubles when we are the ones at fault) went out about 1300.

Wed, 01/09/2013 - 16:08 | 3137851 trav777
trav777's picture

couple problems here:

1, you're correct; there are lots of jooz out there who are not being helped.  They may still band together with others like them (tribalism is something anglos apparently dislike so they will just pretend it out of existence or something) but they really have no real power

2, they are also correct; those at the top are in some cases almost entirely jooz.  Their fingerprints are all over it.

So we must reconcile this.  One of my acquaintances says i should stop b!tching because my people won't band together like his do.  The propaganda from the VERY GROUP that is MOST ethnocentric is "don't be ethnocentric, mix with the mud people."

the question is how to make an omelette without breaking too many eggs

Wed, 01/09/2013 - 16:29 | 3137975 WTFx10
WTFx10's picture

Its not the Banksters fault they are all Jewish, Its not the media owners fault they are Jewish. Its not Hollywood's fault they are all Jewish. Its not the fault of the wealthiest individuals on the planet that get to print our money that they are all Jewish. Its not just a coincidence that one criminal Jew in American government is replaced by another especially when it has to do with economics. Treasury Secretary? Its not the Jews fault that our foreign policy is whatever Israel says it is. It's not the fault of the Jews. Its the Organized Criminal Cabal of CON artists and gangsters fault who happen to be Jewish.

Not all Italians are in the Mafia but that doesn't stop people associating the mafia with Italians.

Wed, 01/09/2013 - 17:24 | 3138294 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"Not all Italians are in the Mafia but that doesn't stop people associating the mafia with Italians."

The worst of the mobs was "Murder Inc." started and run by the jooz, and they managed to blame the Italians for it!

Wed, 01/09/2013 - 14:27 | 3137201 SheepDog-One
SheepDog-One's picture

LOL, now 'HerbaLife' is a CNBC 'flash quote' along with S&P and DOW....ALL HAIL THE HARBALIFE STAWK!

Wed, 01/09/2013 - 20:50 | 3139098 Buck Johnson
Buck Johnson's picture

It's because the problems with the market and the economy where never fixed, just papered over via the programs.  And Rick is correct, it will take years until we finally see the horrible effect of the programs that where implemented to hide this depression that we are in and will be in for a few decades.

Wed, 01/09/2013 - 14:00 | 3137083 homersimpson
homersimpson's picture

Overheard in some nook at the CME: "Wolf Den, this is Wolf 1. I have the target acquired in my sights. He is currently talking to a camera. Awaiting orders."

Wed, 01/09/2013 - 14:06 | 3137107 onewayticket2
onewayticket2's picture

More likely, they'd target his wife or his kid.  So that he can "get with the program" and change his tune on air. 

when Santelli shuts up, that's when you need to be afraid.

Wed, 01/09/2013 - 14:37 | 3137269 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

To paraphrase Arthur Jensen from Network:

"...and YOU have meddled with the primal forces of nature Mr. Santelli, and YOU... WILL... ATONE"

Wed, 01/09/2013 - 14:00 | 3137088 Chief_Illiniwek
Chief_Illiniwek's picture

Now that THAT has been said - on CNBS, mind you - when is the vote scheduled for the balanced-budget ammendment?

Wed, 01/09/2013 - 14:01 | 3137089 ekm
ekm's picture

Is Santelli out of his mind?

 

Congresmen and senators have their own investments in the market. What would be one reason they'd be paying attention to the country?

Wed, 01/09/2013 - 15:05 | 3137447 redpill
redpill's picture

And they've made it legal to trade based upon their own insider information and make millions while the economy burns.  

Wed, 01/09/2013 - 16:52 | 3138113 JPM Hater001
JPM Hater001's picture

They shorted the market?

That's what I'd do.  Then give it all to worthy charities.

Wed, 01/09/2013 - 14:05 | 3137092 Cognitive Dissonance
Cognitive Dissonance's picture

The magic money meme is mesmerizing.

<Ignore that bearded man behind the curtain. I am the mighty Wizard of Fiat.> 

Wed, 01/09/2013 - 14:03 | 3137095 orangedrinkandchips
orangedrinkandchips's picture

I think Tyler forgot the ", cocksuckers" at the end of this title......but.....Tyler goes to show again, "Discrestion is the better part of valor"....

Wed, 01/09/2013 - 14:03 | 3137096 Peter Pan
Peter Pan's picture

Polticians have for a long time beleved that by tampering with the thermometer they can change the weather. The proaganda machine then seeks to condition the people into believing the thermometer despite the sweat running down their back. Nothing changes until everything changes.

Wed, 01/09/2013 - 14:27 | 3137200 trav777
trav777's picture

we've always been at war with Eastasia

Wed, 01/09/2013 - 15:52 | 3137754 smlbizman
smlbizman's picture

i dont know much 'bout that thermostat....but them boys change the hours in a day twice a yer....

Wed, 01/09/2013 - 14:04 | 3137099 Arrowflinger
Arrowflinger's picture

Down here in the south, FASB 157 sounds like a magnum varmint cartridge instead of the fascist financial death round that it is.

Wed, 01/09/2013 - 14:04 | 3137102 Tango in the Blight
Tango in the Blight's picture

OT: Lauren Lyster interviews Paul Brandus at her new job with Yahoo's The Daily Ticker:

http://finance.yahoo.com/blogs/daily-ticker/three-disturbing-economic-tr...

Wed, 01/09/2013 - 14:07 | 3137116 Cursive
Cursive's picture

To paraphrase football-speak, Lauren Lester is a huge "get" for The Daily Ticker.  I will watch much more of it now.

Wed, 01/09/2013 - 14:15 | 3137152 Tango in the Blight
Tango in the Blight's picture

They should give her her own show like she had at RT instead of just doing segments like these.

Wed, 01/09/2013 - 14:58 | 3137401 Arrowflinger
Arrowflinger's picture

Absolutely!

Wed, 01/09/2013 - 14:22 | 3137173 steve from virginia
steve from virginia's picture

 

 

 

It looks like shifting Lyster over to Yahoo! was the means to shut her up ...

 

No more Steve Keen or Mike Shedlock, only those dull-as-dishwater 'guests' and only for five minutes.

 

Ugh ....

Wed, 01/09/2013 - 14:55 | 3137375 e_goldstein
e_goldstein's picture

and no legs. wtf are they thinking?

Wed, 01/09/2013 - 14:55 | 3137379 Tango in the Blight
Tango in the Blight's picture

I fear that as well. They must have given her "an offer she can't refuse".

Wed, 01/09/2013 - 15:54 | 3137765 smlbizman
smlbizman's picture

fuck her.....just like the million dollar man...everyone has a price,,,,,

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