Santelli Slams Keynesians: "The Answer Is Always More Money"

Tyler Durden's picture




 

Correlation, causation; cause-and-effect; Birinyi's Ruler; and Bernanke's Hammer. CNBC's Rick Santelli attempts to open some minds to the "nefarious" levels to which banks and politicians will go to infer from data and bolster our crowd-sourced confirmation biases. Santelli dismisses the meme that government dysfunction is the cause of our problems - instead stating that it is the effect. The main cause of this dysfunction is that we have problems we need to solve, politicians who know how to solve them, but that solving them is not only going to be painful for everyone - but most importantly for their respective bases - and therefore dysfunction ensues. From ratings downgrades not being caused by dysfunction (rather by an inability to deal with entitlements spending and debt) to the Federal Reserve losing the nation's trust acting not for liquidity needs but for insolvency; Santelli aims his magic marker finally at the Keynesians, for whom cause-and-effect is all, adding that their answer to everything is "always more money" to paper over short-term pain, as he rhetorically asks "in ten years when we look back, is the weight of all this debt going to take care of all of these impulsive upticks?" Must watch...


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Tue, 01/15/2013 - 15:27 | 3154857 Zer0head
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Santelli,  the Alex Jones of Financial Media
Tue, 01/15/2013 - 15:28 | 3154866 CPL
CPL's picture

He's a hambone.

Tue, 01/15/2013 - 15:43 | 3154932 NoDebt
NoDebt's picture

Yeah, but he OUR hambone!

Tue, 01/15/2013 - 15:44 | 3154937 Snakeeyes
Snakeeyes's picture

But he is right! All the money has generated slowwwwww growth.

http://confoundedinterest.wordpress.com/2013/01/15/game-of-thrones-gold-...

Tue, 01/15/2013 - 20:10 | 3155469 CrockettAlmanac.com
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I like Santelli. He manages his anger so that it empowers his rhetoric rather than derailing it. Good man.

Tue, 01/15/2013 - 17:38 | 3155530 youngman
youngman's picture

The Hambone connected to the ..legbone...the legbone connected to the..... footbone...and it all comes tumblin down....

 

i think thats how it went...

Tue, 01/15/2013 - 15:30 | 3154872 ACP
ACP's picture

Then he should be saying: "MO' MONEY, I'M RICK JAMES, BITCHEZ!"

Tue, 01/15/2013 - 16:05 | 3155026 Joe Davola
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I don't have finance in my background, but it seems to me the problem in 2008 wasn't so much distrust between the banks - it was more the fact that the underlying assets weren't worth anywhere near what they were being carried at.  Funny how that hasn't changed in the past 4 years.

Tue, 01/15/2013 - 16:09 | 3155047 Hippocratic Oaf
Hippocratic Oaf's picture

Even more funny is these motherfucking TBTF banks never marked their shit to market.

 

That's the real crime.

 

Squid always wins.

Tue, 01/15/2013 - 17:01 | 3155295 mercenaryomics
mercenaryomics's picture

 

 

never marked their shit to market

Shit that is [now] on the Fed's balance sheet at facevalue, correct? 

Tue, 01/15/2013 - 16:32 | 3155191 paterphysi
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Yeah I never understood why people seem to think Santelli is on their side. He seems to be a hero to all the Ayn Rand reading armchair rebels who populate the internet, but I doubt he is on anyone's side but that of the Cock, err, I mean Koch Brothers. Yeah, keep supporting your social betters and worship at the feet of big money -- yup, that will serve you well. Oh and don't forget to blame the Jews too. I see that quite after around here.

 

Tue, 01/15/2013 - 16:43 | 3155239 vato poco
vato poco's picture

Ahhh, gotcha: Santelli is all part of the Plot, folks who don't like Jews are groupthink dupes, but the Koch brothers are truly Satan's minions on Earth. Thank God you and only you can see the One True Answer, and explain it all to us simple rubes.

Tue, 01/15/2013 - 16:47 | 3155271 paterphysi
paterphysi's picture

Guess I hit a nerve vato. Now you can go back to feverishly masturbating to Rand, dreaming of the Fourth Reich and cumming all over your glossy pics of the Koch Brothers.

Thanks for your profound comment!

Tue, 01/15/2013 - 16:52 | 3155292 vato poco
vato poco's picture

Golly. You'd think a guy with the One True Answer would be a little more serene and thick-skinned, wouldn't you. It's a curious phenomenon: all you OTA guys really *really* don't like having your "wisdom" questioned. Ever. See also: Obama, Barack

Tue, 01/15/2013 - 16:53 | 3155314 paterphysi
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LOL. You're a card vato. Love your paranoia. It amuses me to no end. Be careful, reps from OFA are outside your window right now.

Tue, 01/15/2013 - 16:58 | 3155345 vato poco
vato poco's picture

The *other* thing about One True Answer guys I've noticed is that they must, simply MUST, get the last word in. Let's see how long you can hold off, douchebag.

Tue, 01/15/2013 - 17:03 | 3155370 paterphysi
paterphysi's picture

There is a saying, vato, "when you assume you make an ass out of you and me." But you and your assumptions only make a total ass of yourself. But you are used to that, aren't you, huh sparky?

And I will answer sheep such as you for as long as it amuses me. Thanks again for giving me a laugh on this dreary day,

Tue, 01/15/2013 - 17:25 | 3155478 CrockettAlmanac.com
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Stop hating Ayn Rand just because she was a Jew.

Tue, 01/15/2013 - 18:34 | 3155714 vato poco
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Hey, in my defense, I didn't know it was a troll until its comment at 16:03. See, I thought it was merely just a pompous garden-variety smug statist asshole. Sure won't make *that* mistake again!!

Tue, 01/15/2013 - 19:01 | 3155797 CrockettAlmanac.com
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It's fun to play with trolls. You made fine sport of that one.

Tue, 01/15/2013 - 21:04 | 3156140 paterphysi
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Hey nice sock puppet you created vato. Maybe you are only 99 percent a fool. Have fun playing with yourself you Nazi fuck. It is because of people like you that Zero Hedge is considered to be a den of idiotic scum.

but still thanks for the laugh at your expense. 

Tue, 01/15/2013 - 21:09 | 3156158 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

Hey nice sock puppet you created vato

 

Do you think he has a time machine?

 

 

Member for
1 year 31 weeks
Member for
2 years 32 weeks
Tue, 01/15/2013 - 22:01 | 3156283 paterphysi
paterphysi's picture

Think you need to have sock puppet defined. It is when you create multiple accounts under different names -- and this can be done at any time, such as 2 years 32 weeks ago for one,and then 1 year 31 week ago when the other was created. But that said, I apologize because it is obvious you are not vato. I have read your comments and although I do not agree with you you do not appear to be a ball of paranoid anger like vato.

Tue, 01/15/2013 - 22:26 | 3156343 CrockettAlmanac.com
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I know what a sock puppet is. But if your theory had been correct the timeline would suggest that I created vato, not the other way around. Do a little research next time you make a false accusation. No need to be doubly wrong on a single issue.

Tue, 01/15/2013 - 22:40 | 3156389 paterphysi
paterphysi's picture

Keep trying, maybe you will make a logical point. Does it matter which name came first? Either way a sock puppet is a sock puppet. But, eh, this is what I get for admiting I was wrong about the sock puppet thing and trying to be nice to an asshat who bows down to monied interests and kisses the ass of corporate shills like Santelli.

CrockettAmamac another armchair rebel in action! You get 'em big man!

Tue, 01/15/2013 - 22:45 | 3156403 CrockettAlmanac.com
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CrockettAmamac another armchair rebel in action! You get 'em big man!

 

Whereas you post to ZH while riding on your mighty stallion.

Tue, 01/15/2013 - 19:14 | 3155836 Silvergood
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Alex Jones did a good job on Piers Morgan!!  Keep it going!!

Tue, 01/15/2013 - 15:32 | 3154879 fonzannoon
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Unfortunately I think Santelli has been exposed to anyone with their eyes open. Bummer.

Tue, 01/15/2013 - 19:12 | 3155486 CrockettAlmanac.com
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How so? For a guy who lives inside the TV he seems to get it to some degree.

Tue, 01/15/2013 - 21:06 | 3156148 fonzannoon
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Unfortunately for me I watch a lot of CNBS Crockett. I am tired of watching Santelli start sentences with "I know Ben Bernak is a great American but I disagree with"....

Stop ot with the compliments.

I have also (lately) heard him too many times proclaim that treasuries are not in a bubble.

Treasuries are the largest, most dangerous bubble in my lifetime. He needs to call a spade a spade. They may not pop tomorrow. But I would not go near them, and he knows them better than anyone.

Tue, 01/15/2013 - 21:15 | 3156173 CrockettAlmanac.com
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As you watch the show you'd know better than I, however I've found found that when I have a disagreement with someone and I'm sure I'm right, the fault in the other is more often a result of inconsistent thinking rather than bad intent.

Tue, 01/15/2013 - 21:32 | 3156205 fonzannoon
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You make an excellent point, and part of me is inclined to agree. But I think when those CNBS employees show up everyday they are handed a script, and they know damn well not to go off script. They are bit players in this big giant play. At least that is how I see it. But I may be too far down the rabbit hole by now. I admit it.

Tue, 01/15/2013 - 22:29 | 3156349 CrockettAlmanac.com
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I steer a wide course around the rabbit hole. Too much fuss about being late for a very important date. I don't even own a watch.

Tue, 01/15/2013 - 15:35 | 3154891 Hedgetard55
Tue, 01/15/2013 - 15:40 | 3154921 Shizzmoney
Shizzmoney's picture

If UE ever gets to 5.5 by 2018, I'll walk in downtown Harlem.......in blackface.

Unless, of course, there's a war.  Then so many people will die off, that we may actually hit 5.5 UE.

 

Tue, 01/15/2013 - 15:46 | 3154945 michiganmaven
michiganmaven's picture

I will go one better... if the REAL UE gets to 5.5% or LOWER by 2018 I will walk down the worst streets in Detroit, South Central LA and Harlem in a black face, naked, and with Obama is a - insert word here - written on my chest, back, ass, and anything anywhere else you want...

 

Tue, 01/15/2013 - 16:00 | 3154998 Disenchanted
Disenchanted's picture

"Obama is a - insert word here"

 

How about two words?

Obama is a house negro (or house 'nigga' if you prefer)

 

"There was two kind of slaves. There was the house negro and the field negro. The house negro, they lived in the house, with master. They dressed pretty good. They ate good, cause they ate his food, what he left. They lived in the attic or the basement, but still they lived near their master, and they loved their master, more than their master loved himself. They would give their life to save their masters house quicker than their master would. The house negro, if the master said "we got a good house here" the house negro say "yeah, we got a good house here". Whenever the master would said we, he'd say we. That's how you can
tell a house negro. If the master's house caught on fire, the house negro would fight harder to put the blaze out than the master would. If the master got sick, the house negro would say "What's the matter, boss, we sick?" We sick! He identified himself with his master, more than the master identified with himself. And if you came to the house negro and said "Let's run away, Let's escape, Let's separate" the house negro would look at you and say "Man, you crazy. What you mean separate? Where is there a better house than this? Where can I wear better clothes than this? Where can I eat better food than this?" There was that house negro. In those days, he was called a house nigger. And that's what we call him today, because we still got some house niggers runnin around here. This modern house negro loves his master." ~ Malcolm X

 

We sick boss...

Tue, 01/15/2013 - 16:57 | 3155340 mercenaryomics
mercenaryomics's picture

+1

Have been told before I needed to give Malcom X a read sometime, but that quote above just sold me, thanks.

Reminds me of the Jay Gould's "I can hire one half of the working class to kill the other half."  

Wed, 01/16/2013 - 06:37 | 3156992 Disenchanted
Disenchanted's picture

You don't have to be black to be a modern day "house nigger." We've got a whole lot of caucasian Gentile(and many other races and creeds, including many commoner* Jews as well) house niggers running around the world these days. House negroes figuratively living in the big house on those Red Shield bankster plantations...

Senator Lindsey Graham, now there's another good example of a modern day house nigger. David Petraeus too, now that po old house nigger be livin in the basement these days. Massa done whipped his hide.

 

"We sick boss? We sick!"

 

* "an ordinary member of society who does not belong to the nobility"

Tue, 01/15/2013 - 15:35 | 3154892 localsavage
localsavage's picture

Of course the answer from those who profit from loaning money is to loan more money...especially if you can just turn on the printer and get more to loan.

Tue, 01/15/2013 - 15:36 | 3154894 tooriskytoinvest
Tue, 01/15/2013 - 15:48 | 3154951 michiganmaven
michiganmaven's picture

So the Fed and other Central Banks are teh cause of the Zombie apocolypse? Who knew ?!?! 

Tue, 01/15/2013 - 17:53 | 3155582 ParkAveFlasher
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I dig Greg Walker but the yellow/green/gray face gotta go.

Tue, 01/15/2013 - 20:07 | 3156002 TBT or not TBT
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Soylent Green is bath salts, bitchez.

Tue, 01/15/2013 - 15:37 | 3154900 oddball
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Arm the drones.

Tue, 01/15/2013 - 15:38 | 3154901 BlueCheeseBandit
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Mo' bridges, mo' problems.

Tue, 01/15/2013 - 15:38 | 3154904 Gmacks
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I hate having an iPad.... Sigh

Tue, 01/15/2013 - 17:31 | 3155509 CrockettAlmanac.com
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What might the algos make of that?

Tue, 01/15/2013 - 15:40 | 3154912 caimen garou
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Santelli will soon be eyed by eric and company if not already.

Tue, 01/15/2013 - 15:41 | 3154915 Cognitive Dissonance
Cognitive Dissonance's picture

Santelli is a heretic. One may always question the effects of the system, but never the system itself.

/sarc

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