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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 | Link to Comment Zer0head
Zer0head's picture
Santelli,  the Alex Jones of Financial Media
Tue, 01/15/2013 - 15:28 | Link to Comment CPL
CPL's picture

He's a hambone.

Tue, 01/15/2013 - 15:43 | Link to Comment NoDebt
NoDebt's picture

Yeah, but he OUR hambone!

Tue, 01/15/2013 - 15:44 | Link to Comment 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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

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 | Link to Comment 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 | Link to Comment ACP
ACP's picture

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

Tue, 01/15/2013 - 16:05 | Link to Comment Joe Davola
Joe Davola's picture

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 | Link to Comment 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 | Link to Comment 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 | Link to Comment paterphysi
paterphysi's picture

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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment paterphysi
paterphysi's picture

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 | Link to Comment 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 | Link to Comment 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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Stop hating Ayn Rand just because she was a Jew.

Tue, 01/15/2013 - 18:34 | Link to Comment vato poco
vato poco's picture

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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

It's fun to play with trolls. You made fine sport of that one.

Tue, 01/15/2013 - 21:04 | Link to Comment paterphysi
paterphysi's picture

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 | Link to Comment 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 | Link to Comment 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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

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 | Link to Comment 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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

 

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 | Link to Comment Silvergood
Silvergood's picture

Alex Jones did a good job on Piers Morgan!!  Keep it going!!

Tue, 01/15/2013 - 15:32 | Link to Comment fonzannoon
fonzannoon's picture

Unfortunately I think Santelli has been exposed to anyone with their eyes open. Bummer.

Tue, 01/15/2013 - 19:12 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

How so? For a guy who lives inside the TV he seems to get it to some degree.

Tue, 01/15/2013 - 21:06 | Link to Comment fonzannoon
fonzannoon's picture

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 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

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 | Link to Comment fonzannoon
fonzannoon's picture

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 | Link to Comment 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 | Link to Comment Hedgetard55
Tue, 01/15/2013 - 15:40 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment tooriskytoinvest
Tue, 01/15/2013 - 15:48 | Link to Comment 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 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

I dig Greg Walker but the yellow/green/gray face gotta go.

Tue, 01/15/2013 - 20:07 | Link to Comment TBT or not TBT
TBT or not TBT's picture

Soylent Green is bath salts, bitchez.

Tue, 01/15/2013 - 15:37 | Link to Comment oddball
oddball's picture

Arm the drones.

Tue, 01/15/2013 - 15:38 | Link to Comment BlueCheeseBandit
BlueCheeseBandit's picture

Mo' bridges, mo' problems.

Tue, 01/15/2013 - 15:38 | Link to Comment Gmacks
Gmacks's picture

I hate having an iPad.... Sigh

Tue, 01/15/2013 - 17:31 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

What might the algos make of that?

Tue, 01/15/2013 - 15:40 | Link to Comment caimen garou
caimen garou's picture

Santelli will soon be eyed by eric and company if not already.

Tue, 01/15/2013 - 15:41 | Link to Comment 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

Tue, 01/15/2013 - 15:41 | Link to Comment firstdivision
firstdivision's picture

Anyone explain the last three releases coming exactly the same for three months in a row?  http://bloomberg.econoday.com/byshoweventfull.asp?fid=456184&cust=bloomberg-us&year=2013&lid=0&prev=/byweek.asp#top

Tue, 01/15/2013 - 15:42 | Link to Comment fonzannoon
fonzannoon's picture

Apple is 485 and the Nasdaq is 3,100

Insane

Tue, 01/15/2013 - 15:54 | Link to Comment NoDebt
NoDebt's picture

Which part?

Tue, 01/15/2013 - 15:43 | Link to Comment sgorem
sgorem's picture

RICK SANTELLI FOR FED HEAD! (watch your back Rick, get a carry permit, let the ole lady start your car every morning, give the dog a bite of your dinner before you eat it, change routes everyday, you know the routine).

Tue, 01/15/2013 - 15:54 | Link to Comment kridkrid
kridkrid's picture

he's safe.  He serves a purpose.

Tue, 01/15/2013 - 15:48 | Link to Comment adr
adr's picture

The Keynesian says, "Look back in ten years, that's ten years from now, Bernanke just printed me a billion dollars now bitchez. Live in the now, print more later. Can always print more, ten years print me a trillion."

Tue, 01/15/2013 - 16:39 | Link to Comment paterphysi
paterphysi's picture

No, the Keynesian says "save in the good times so we can spend in the bad" but the problem is we waste in the good times and then have nothing to spend in the bad. That is not Keynesian, although people seem to think it is...

 

Which is not to say Keynesian Economics is the answer. But if you're going to slam something at least have a basic understanding of it before you comment.

 

Tue, 01/15/2013 - 17:35 | Link to Comment CrockettAlmanac.com
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Today's Keynesian is not necessarily yesterday's pie in the sky Keynesian who believed that government could act responsibly and rationally. Today's Keynesian knows that the government will never act rationally and has come to see that as a good thing. Keynesianism was a bad idea that has become a worse idea.

Tue, 01/15/2013 - 20:06 | Link to Comment Diogenes
Diogenes's picture

The critics said "In the long run your policies must prove disasterous"

Keynes replied "In the long run we are all dead".

He was right. He is dead and under the sod, having reaped the benefits of his policies. Now we get to deal with the costs.

Tue, 01/15/2013 - 20:11 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Excellent observation.

Tue, 01/15/2013 - 15:49 | Link to Comment koncaswatch
koncaswatch's picture

All "spin" is nefarious, intrinsically; its purpose is to circumvent the truth in any dialogue.

So what else is new Rick?

Tue, 01/15/2013 - 17:36 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

And what's new about Santelli bashing? Pot. Kettle. Black.

Tue, 01/15/2013 - 18:10 | Link to Comment koncaswatch
koncaswatch's picture

Rick's presentation was loaded with nefarious this and nefarious that, linked to a comment about it all being "spin". The presentation was all about things obvious to ZHphiles; hence, my what's new comment which I really don't consider "bashing." Santelli is for the most part appreciated by me and certainly is a breath of fresh air from the normal CNBS.

Tue, 01/15/2013 - 19:14 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Glad to hear it. Seems to be a degree of Santelli hatred around here, don't know why. Peace.

Tue, 01/15/2013 - 15:52 | Link to Comment AccreditedEYE
AccreditedEYE's picture

Buying the F-ing Dip worked again.... shocking.

Tue, 01/15/2013 - 16:18 | Link to Comment Caracalla
Caracalla's picture

BTFD just means I'll own more of the Sh*t when it goes down.

Tue, 01/15/2013 - 15:53 | Link to Comment kridkrid
kridkrid's picture

This is Bullshit... "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".

There is no solution to debt based money with interest attached at creation.  The system requires that aggregate debt be in a constant state of expansion.  Just because he can spot bull shit doesn't mean that he doesn't himself spew it.  He has a good shtick... that's about all.

Tue, 01/15/2013 - 16:35 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

There is NO ONE else readily accessible and available to the numbers he is, saying anything like this.   He must be praised.

Tue, 01/15/2013 - 17:22 | Link to Comment NidStyles
NidStyles's picture

Politicians that know how to solve them? Where?

Tue, 01/15/2013 - 17:41 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

I think his point is that everybody knows we spend too much on crap but everybody wants the politicians to keep spending too much on crap and as that further empowers the politicians that's exactly what happens. Not everybody is as far along the path as the ZH crowd. Santelli is coming along the path and he is enlightening others along the way and on CNBC of all places. It's a good thing.

Tue, 01/15/2013 - 20:08 | Link to Comment Diogenes
Diogenes's picture

Europe. It was a French politician who said just a month or so ago, "We all know what we ought to do. What we don't know is how to get re elected after we do it".

Tue, 01/15/2013 - 15:54 | Link to Comment falak pema
falak pema's picture

the keynesians believe in stimulating demand, unfortunately its too late as the damage done by Friedmanist monetisation fed on laisser faire and keeping state out of the loop is now doing the opposite to save oligarchy financialisation beyond repair.

We seem to have reached the asymptote of First world monetary creation to save its oligarchy assets; not to save the people. 

Tue, 01/15/2013 - 17:23 | Link to Comment NidStyles
NidStyles's picture

Friedman was a Keynesian. Every post I read by you has some weird twisted version of reality that simply isn't true. Why is that?

Tue, 01/15/2013 - 16:00 | Link to Comment F. Bastiat
F. Bastiat's picture

Repealing the 17th amendment would be a step in the direction of reducing faction-alism.

Tue, 01/15/2013 - 16:22 | Link to Comment busted by the b...
busted by the bailout's picture

Yes, but I don't think it would be enough to save us now. 

We need term limits to remove the focus on reelection and fundraising.

Tue, 01/15/2013 - 16:33 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Never thought I would say it but also need to take all corporate money out of elections.

If 'corporations' want to contribute, then the individuals can, up to the legal individual limits.  Same with "unions'. 

Tue, 01/15/2013 - 17:45 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

So the government would work better if there were just a few more rules which the politicians could exploit in furtherance of their own agenda and that of their cronies?

Tue, 01/15/2013 - 16:01 | Link to Comment TBT or not TBT
TBT or not TBT's picture

In short, an excess of democracy prevents a sane solution and unwinding of this.

The founders warned of this, and set up a representative republic of limited roles, to prevent this.

The federal income tax and the amendment that made senators be elected directly are key to understanding how we got here.

Tue, 01/15/2013 - 16:18 | Link to Comment busted by the b...
busted by the bailout's picture

Santelli Slams Keynesians.  Should read "Santelli slams the system".

Rick made is clear that our political process is broken due to politicians voting in their own self-interest instead of in the interest of the country.

It won't change until we change them.

Tue, 01/15/2013 - 17:26 | Link to Comment NidStyles
NidStyles's picture

You can't change human nature, that's the problem you people can't seem to understand. Then again if you understood that simple thing you wouldn't behave like normal irrational humans.

Tue, 01/15/2013 - 16:13 | Link to Comment Glasater55
Glasater55's picture

Rick S was just on Closing Bell and said something so profound the comment got Maria B's attention.

Video not up yet but sure hope some brilliant child will take a look and explain.

Tue, 01/15/2013 - 16:14 | Link to Comment Glasater55
Glasater55's picture

Rick S was just on Closing Bell and said something so profound the comment got Maria B's attention.

Video not up yet but sure hope some brilliant child will take a look and explain.

Tue, 01/15/2013 - 16:15 | Link to Comment lasvegaspersona
lasvegaspersona's picture

Is Santelli a candidate for 'suicide by hot tub' or is he too prominent to eliminate from the public stage by such crude methods? Maybe he'll get the Aaron Schwartz treatment....death by hounding. Perhaps the Petraeus method of ' caught ya screwin'. I assume all of Congress is easily controlled now that the NSA knows everything about everybody. So lets all just shut up and behave?

Tue, 01/15/2013 - 17:01 | Link to Comment vato poco
vato poco's picture

Honestly, I think it's got to the point where TPTB just don't even give a shit anymore. Corzine walks free, there are no riots. That fucking idiot in the white house gets re-elected, there are no national strikes. A hugely corrupt congress faces re-election, and the success rate for incumbents is 95%. So Santelli wants to rant? So what? It ain't like it's gonna change anything...

Tue, 01/15/2013 - 17:37 | Link to Comment Dr. Engali
Dr. Engali's picture

+ 1000 you're right. I could go on to add a lot more..like The TSA groping thugs ,the patriot act, the NDAA...the list goes on and on.  What a bunch of docile obedient sheep this country has become.

Tue, 01/15/2013 - 16:38 | Link to Comment Dre4dwolf
Dre4dwolf's picture

ACTUALLY, in this end-game situation if you want to keep the system going (as it is) the solution (END - ALL ) solution is to raise the minimum wage to 50$ an hour.

 

Prices will rise

Taxes Revenue will rise

Debts will be de-valued and payed off

Liquidity will flood all sectors of the economy

 

Its like clearing a clogged artery with a pressure hose.... its a little painful but it gets the job done and acts as a "re-set".

Tue, 01/15/2013 - 23:55 | Link to Comment Nimby
Nimby's picture

HOw are debts going to be paid off if the purchasing power of the minimum wage worker stays the same?  You must be a democrat.

Tue, 01/15/2013 - 16:39 | Link to Comment XtraBullish
XtraBullish's picture

Long Live Santelli!

Tue, 01/15/2013 - 17:07 | Link to Comment haskelslocal
haskelslocal's picture

According to Santelli, ratings donwngrades to CNBC are not caused by the dysfunction of the actors/reporters. It's the selfish interests of the advertisers that are the cause.  

Tue, 01/15/2013 - 17:54 | Link to Comment Venerability
Venerability's picture

I blame it all on Andrew Greeley.

He glamorized Chicago commodity traders as the sort of American Catholics all American Catholics should aspire to be.

Rick Santelli, from a very modest background and a state university graduate, forgot his roots and became a stooge - albeit an amiable one - for the likes of Joe Ricketts and the Koch Brothers.

It's a very American story - and an all-too-typical one.

Tue, 01/15/2013 - 23:53 | Link to Comment Nimby
Nimby's picture

If Schindler had been a Keynesian, think how many more he could have saved...

Wed, 01/16/2013 - 01:05 | Link to Comment AynRandFan
AynRandFan's picture

I think you should get an award for that comment.

Wed, 01/16/2013 - 02:26 | Link to Comment ThorsteinVeblen
ThorsteinVeblen's picture

What is this thing that he speaks of? Is it a place or a time or simply a lovely vision of Newtonian concepts adapted to the religion of capitalism? Do we go back to pin factory days and forge ahead relying upon the 1776 Adam Smith assumptions upon which neoclasical macroeconomic models were born and depend? Tell more of this timeless and unknown land of the invisible hand where there is no U.S. debt, no excess nor any poor without a gracious and well directed fishing lesson. Those in servitude, slaves, Indians, new immigrants, children, prisoners, Mexicans, Asians, organized labor and now unorganized labor all resisted the effects of Rick's vision nearing reality. Like an old man once said, "My father would have liked to have raped and pillaged this new land too, but as a barber, there wasn't much he could do." The rules for markets need to be good or Rick's reality, which is Rand's fiction, comes to fruition in that capitalism fails because of its success.

Wed, 01/16/2013 - 02:48 | Link to Comment TheObsoleteMan
TheObsoleteMan's picture

Tom T. Hall had it right: "Faster horses, younger women, older whisky, and more money!"

Wed, 01/16/2013 - 08:12 | Link to Comment waterdude
waterdude's picture

Santelli's the perfect mascot for zerohedge - loud, aggressive, bearish and usually wrong.

Wed, 01/16/2013 - 09:39 | Link to Comment dvfco
dvfco's picture

I have a hard time reading any serious article that uses the now pervasive term 'meme' to describe anything.  It seems a weak generational term has invaded quality journalism.  I have as hard a time taking articles or blogs employing the use of the term 'meme' seriously as I do taking people with an abundance of tatts and nose ring seriously.  Sometimes they prove to be hidden gems, but more often they are advertising weak journalism.   They remind me of authors who repeatedly make use of semi-colons in their writing.  The semi-colon are employed to make the author look smart; they are overused.  

I would guess this is a stupid pet-peeve of mine.  Otherwise, Santelli is great but diminishing in appeal just like thee rest of the CNBC reporters; Fox Business is a fresh change and Diane Macedo, Nicole Petalides, and Gerri Willis are more fun to watch; Gasparino gets better scoops than the entire staff remaining at CNBC.

Wed, 01/16/2013 - 14:03 | Link to Comment aubreyfarmer
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42). "IN WHATEVER COUNTRY JEWS HAVE SETTLED IN ANY GREAT NUMBERS, THEY HAVE LOWERED ITS MORAL TONE; depreciated its commercial integrity; have segregated themselves and have not been assimilated; HAVE SNEERED AT AND TRIED TO UNDERMINE THE CHRISTIAN RELIGION UPON WHICH THAT NATION IS FOUNDED by objecting to its restrictions; have built up a state within a state; and when opposed have tried to strangle that country to death financially, as in the case of Spain and Portugal. For over 1700 years the Jews have been bewailing their sad fate in that they have been exiled from their homeland, they call Palestine. But, Gentlemen, SHOULD THE WORLD TODAY GIVE IT TO THEM IN FEE SIMPLE, THEY WOULD AT ONCE FIND SOME COGENT REASON FOR NOT RETURNING. Why? BECAUSE THEY ARE VAMPIRES, ANDVAMPIRES DO NOT LIVE ON VAMPIRES. THEY CANNOT LIVE ONLY AMONG THEMSELVES. THEY MUST SUBSIST ON CHRISTIANS AND OTHER PEOPLE NOT OF THEIR RACE. If you do not exclude them from these United States, in this Constitution in less than 200 years THEY WILL HAVE SWARMED IN SUCH GREAT NUMBERS THAT THEY WILL DOMINATE AND DEVOUR THE LAND, AND CHANGE OUR FORM OF GOVERNMENT [which they have done they have changed it from a Republic to a Democracy], for which we Americans have shed our blood, given our lives, our substance and jeopardized our liberty. If you do not exclude them, in less than 200 years OUR DESCENDANTS WILL BE WORKING IN THE FIELDS TO FURNISH THEM SUSTENANCE, WHILE THEY WILL BE IN THE COUNTING HOUSES RUBBING THEIR HANDS. I warn you, Gentlemen, if you do not exclude the Jews for all time, your children will curse you in your graves. Jews, Gentlemen, are Asiatics; let them be born where they will, or how many generations they are away from Asia, they will never be otherwise. THEIR IDEAS DO NOT CONFORM TO AN AMERICAN'S, AND WILL NOT EVEN THOUGH THEY LIVE AMONG US TEN GENERATIONS. A LEOPARD CANNOT CHANGE ITS SPOTS. JEWS ARE ASIATICS, THEY ARE A MENACE TO THIS COUNTRY IF PERMITTED ENTRANCE and should be excluded by this Constitution." (by Benjamin Franklin, who was one of the six founding fathers designated to draw up The Declaration of Independence. He spoke before the Constitutional Congress in May 1787, and asked that Jews be barred from immigrating to America. The above are his exact words as quoted from the diary of General Charles Pickney of Charleston, S.C.
Wed, 01/16/2013 - 14:03 | Link to Comment dadichris
dadichris's picture

i've long held the opinion that the crappy government is the cause of the problem, but have now changed to the opinion that a crappy government is the result of an unsound monetary system.

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