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...