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Santelli Blasts Bernanke: "Whatever You're Doing, It Isn't Working"

Tyler Durden's picture


While some would look at the surge in government spending in Q3 last year (ahead of the election) and subsequent plunge in Q4 as conspiratorial, CNBC's Rick Santelli takes a step slightly further back as he draws the analogy between the mystical monetary experimentation of Ben Bernanke and his horde of central bank cronies and the "bloodletting of leeching" of medieval medicine providers. The point being that if you were sick in the middle ages, leeches were applied; and if you returned weeks later (still sick), more leeches and blood-letting took place - with no lesson learned. The fact that we borrowed $300bn in Q4 and managed a dismally dire drop in GDP growth offers little hope as the world glares agog at the Dow Jones Industrial Average index while Bernanke, six years on from the start of the recession continues to apply the same medicine that has done nothing to resurrect our economy. In Rick's words, "Whatever you're doing; It isn't working!" and in fact the monetary support could potentially hurt the economy in the medium-term as debt piles up exponentially. An epic rant...

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Thu, 01/31/2013 - 10:23 | 3202189 phalfa5
phalfa5's picture

you shoud make bearings for those scooters...     just sayin'


Wed, 01/30/2013 - 17:13 | 3200278 NotApplicable
NotApplicable's picture

They see me rollin'.

They hatin'.

Wed, 01/30/2013 - 17:03 | 3200239 NoDebt
NoDebt's picture

We agreed to ban CNBC from the office.  No more TVs.  Instant productivity boost.

Anything on the web, including ZH, still perfectly acceptable, though.  Might have to get rid of all the computers and put in an old ticker spittin' out quote tape to address that little productivity vamprie, though.


Wed, 01/30/2013 - 18:07 | 3200426 Meat Hammer
Meat Hammer's picture

Get a DVR and push <<

Wed, 01/30/2013 - 18:25 | 3200491 ATM
ATM's picture

why not hit rewind on the dvr?

Wed, 01/30/2013 - 19:14 | 3200655 Osmium
Osmium's picture

Tivo?  Won't alert you before he comes on, but you can rewind.

Wed, 01/30/2013 - 17:37 | 3200344 Everybodys All ...
Everybodys All American's picture

<---- blame Bernanke for the economy

<---- blame Obama for the economy

Wed, 01/30/2013 - 18:07 | 3200429 DoChenRollingBearing
DoChenRollingBearing's picture

Now HERE is where we need a third option!

Green for the principal of the matter...

Wed, 01/30/2013 - 19:17 | 3200662 bobthehorse
bobthehorse's picture

Bernanke's main goal is to keep the Ponzi scheme rolling along.

To that end, he's a great success.


Wed, 01/30/2013 - 16:37 | 3200099 Water Is Wet
Water Is Wet's picture

Correction Santelli:  It isn't working for you.

Wed, 01/30/2013 - 16:38 | 3200110 falak pema
falak pema's picture

lol, the dichotomy; we and them...

Wed, 01/30/2013 - 16:36 | 3200100 takeaction
takeaction's picture

Liesman......I know you read this.....Fuck YOU!!!

Wed, 01/30/2013 - 16:47 | 3200162 The Limerick King
The Limerick King's picture



Liesman's a moron with guile

He's constantly spewing out bile

His Keynesian art

Till debt do us part

Is evil, disgusting , and vile


Wed, 01/30/2013 - 16:54 | 3200193 azzhatter
azzhatter's picture

How about just LIESman is a bald headed, fat, lying, fuckwitted, dick licking, pus filled boil on the ass of society- CNBC

Wed, 01/30/2013 - 16:55 | 3200206 DoChenRollingBearing
DoChenRollingBearing's picture

Excellent, Your Majesty!

Wed, 01/30/2013 - 17:35 | 3200337 Liquid Courage
Liquid Courage's picture



The bankster snakes are all molting,
The errant knight Rodney is bolting,
I think this may sting,
So who’ll tell the King
The peasants are pissed and revolting?!

Long live the King!

Wed, 01/30/2013 - 17:02 | 3200233 which way weste...
which way western man's picture

Everyone in that fucking jersey studio should be raided and arrested under the RICO act.

This kike shit has gone on for YEARS.

LIESman, cramer, ira ross sorkin, faber, greenberg, kaminsky, rovell, finerman, kudlow the born again "Christian", boorstin, melissa francis, "zach" karabell, jane wells, wapner

such a mitzvah in englewood everyday, itz!!!!!!!!!!!!!!!!!!!!!

Itz almost as if they are in place running/protecting a criminal enterprise (fellow "jews)

Wed, 01/30/2013 - 16:37 | 3200101 km4
km4's picture


How “Financial Innovation” In US Financial Markets Stymied Real Innovation


After all the financial shenanigans by Wall Street that have been uncovered over the past decade, it’s a wonder we aren’t all back to stuffing our mattresses with bills.

Wed, 01/30/2013 - 17:26 | 3200309 SmallerGovNow2
SmallerGovNow2's picture

who says we're not?

Wed, 01/30/2013 - 16:37 | 3200102 HelluvaEngineer
HelluvaEngineer's picture

Nonsense.  Look at AMZN.  We have at least a few more hours before this thing blows sky high.  Party On.

Wed, 01/30/2013 - 16:39 | 3200115 resurger
resurger's picture

Fuck you Ben zona Bernanke

Wed, 01/30/2013 - 16:40 | 3200123 Cognitive Dissonance
Cognitive Dissonance's picture

Sometimes I feel sorry for Rick.

He still believes what he was taught about markets and America.

Wed, 01/30/2013 - 16:52 | 3200184 AlaricBalth
AlaricBalth's picture

Santelli's overt anger is just a manifestation of his discomfort due to the fact that he simultaneously holds two or more conflicting beliefs. This is called...well CD, you know.

Wed, 01/30/2013 - 17:03 | 3200227 ebworthen
ebworthen's picture

Cognitive Dissonance on video:


Just look at Macke's face even before he begins to speak.

He realizes that it is all bullshit, and that he either goes along when nothing makes sense, or he just comes out and says "This is all a crock of shit and you are all insane."

He is caught between the two, essentially says that it is all madness in the only way he can muster in the moment, and appeals for someone to make sense out of the senseless.  Sorry Jeff, you won't get any help on CNBC.

The Mad Hatter's are everyone EXCEPT Macke.

Wed, 01/30/2013 - 17:51 | 3200365 Liquid Courage
Liquid Courage's picture

“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” sputtered J.M. Keynes ... by way of an excuse, I guess.

It seems that both the attraction and the potential to cause harm of groupthink increase in direct proportion to the apparent intelligence of the group in question.

Wed, 01/30/2013 - 18:00 | 3200401 centerline
centerline's picture

That was really worth watching.  I really can't wait for this to become more of daily thing.  I am going to laugh my ass off.

Wed, 01/30/2013 - 17:02 | 3200237 DoChenRollingBearing
DoChenRollingBearing's picture

Increasing anger cannot be felt by me alone...

The cd and attendant anger must be bubbling up all over...

Comments on my notion?  Are we getting more pissed off every day?

Wed, 01/30/2013 - 17:05 | 3200248 ebworthen
ebworthen's picture


Wed, 01/30/2013 - 17:13 | 3200279 AlaricBalth
AlaricBalth's picture


Wed, 01/30/2013 - 17:18 | 3200291 NoDebt
NoDebt's picture

I've had 2 conversation in the last 24 hours about stuff in general with 2 different groups. 

One was a couple old accountant buddies of mine- older than me, I think of them like Grandparents almost.  The calming "voice of reason".  They were concerned that any money you put in a Roth IRA or 401k was just going to be taxed by the government in the near future regardless of strong promises to never do so.  I was floored.

Next was a group of Cub Scout dads from my pack.  One beer into the conversation and it turns out every single one of them bought at least one gun in the last year for then day when government benefits dry up and the gangs start to riot and pour out of the cities in an armed search for anything they can eat, steal or kill.  They're preparing for "the day the EBT cards die".  I shit you not.  Serious as a heart attack.

I thought I could conceive of some really high level disaster scenarios from my readings on ZH.  Figured I could easily out-crazy any idea they came up with.  Nope.  They were all over this- at my level or beyond- and not one of them had ever heard of ZH.

Draw your own conclusions.


Wed, 01/30/2013 - 17:23 | 3200306 SmallerGovNow2
SmallerGovNow2's picture

thanks for sharing.  good to hear what all manner of people are thinking and feeling out there...

Wed, 01/30/2013 - 18:08 | 3200432 centerline
centerline's picture

Also wanted to say thanks for sharing.

What I have been really floored by lately is the changing attitude on all sorts of mainstream forums and commentary sections.  Frankly I am surprised that that most MSM outlets have not disabled comments.  They are getting flamed for every piece of bullshit they publlish.  It's everywhere now.  People are talking.  Yeah, there is still alot of right-left, red-blue, etc. sort of stuff out there... but even that facade is starting to get thin.  This may not seem like much - but it is entirely different than the attitude in the same places a few years ago.


Wed, 01/30/2013 - 18:12 | 3200449 DoChenRollingBearing
DoChenRollingBearing's picture

@ NoDebt

My thanks as well.  So it's now everywhere.  

The answer is gold and guns.  And whatever preparations you pile on top of that.  Cub Scout dads is an interesting segment to comment.  Bravo reporting.

Wed, 01/30/2013 - 23:48 | 3201337 jerry_theking_lawler
jerry_theking_lawler's picture

so these guys have left the denial phase and have moved into the Anger phase. seems like they still have a long way to go.


luckily for alot of 'us' here, we are in the acceptance phase and moving on with our lives and preparing for the future....the toughest part for me was the Depression....it set in as i thought i could do nothing to change my position and noone around me understood. then i found outlets such as ZH.....

Wed, 01/30/2013 - 17:22 | 3200303 NotApplicable
NotApplicable's picture

I try and let it go, as emotion only works to undermine intellect, and can be used as a trap. Here, for example, all it takes is a single troll to divert someone into an emotional rant, which will be seen by others as undermining the inegrity of what likely started as a more intelligent discourse.

This sort of activation energy is the oldest trick in the troll book. Once the emotions start flowing, it isn't hard to lead someone into a seeming incoherence.

Ask Rick, I'm sure he knows this by now. OR at least he should.

Wed, 01/30/2013 - 18:37 | 3200531 klockwerks
klockwerks's picture

On, not off, fixed it for ya

Wed, 01/30/2013 - 17:05 | 3200245 azzhatter
azzhatter's picture

I would respect him more if he just stuck to his position, not this "I agree with LIESman" bullshit. One day spell it out, "My colleague Steve LIESman is a dimwitted journalism major who knows nothing about money, other than the pennies Bernanke gives him for the blowjobs" or something like that.

Wed, 01/30/2013 - 18:56 | 3200587 Strider52
Strider52's picture

I've seen b-cups Burnett cut a guy off cuz he was telling too much truth. Santelli has to stay within certain margins, or he'd have no job.

Wed, 01/30/2013 - 16:42 | 3200128 Chippewa Partners
Chippewa Partners's picture

Ordered a new Blackberry on  Amazon on my Apple iPad........P/E's apparently don't matter until they do.  



Wed, 01/30/2013 - 16:44 | 3200146 Cognitive Dissonance
Cognitive Dissonance's picture

Well.....you saved the stock for 2 seconds.

And it's gone. :)

<Thanks for playing though.>

Wed, 01/30/2013 - 16:43 | 3200134 astoriajoe
astoriajoe's picture

what's the worry, its not like interest rates are rising or anything.

Wed, 01/30/2013 - 17:06 | 3200249 CrashisOptimistic
CrashisOptimistic's picture

Interest rates?

Oil just hit $98.  Err, sorry, the real price of oil hit $115.

Wed, 01/30/2013 - 16:43 | 3200140 LongSoupLine
LongSoupLine's picture

Just can't wait for day Santelli tells Bernanke to fuck off and die. I will personally catch a flight to Chicago to shake his hand.

Until then...fuck you Bernanke, eat fucking shit asshole.

Wed, 01/30/2013 - 16:49 | 3200143 ebworthen
ebworthen's picture

Leeches at least thinned your blood a little.

Bernanke is "Dr. Lancet", relentlessly bloodletting with his rusty unsterilized blade and wondering why the patient keeps coming back paler and weaker.

Wed, 01/30/2013 - 16:45 | 3200156 caimen garou
caimen garou's picture

Hope Rick does'nt have a stroke during one of his rants, I would miss him!

Wed, 01/30/2013 - 16:59 | 3200218 vegasjack
vegasjack's picture

i hope he does i am tied of him

watched Santelli for the last time moving on to Bloomberg

Wed, 01/30/2013 - 23:59 | 3201360 jerry_theking_lawler
jerry_theking_lawler's picture

RICK SANTELLI - God Bless You Man! How do you put up with those fucking idiots on a daily basis. I think you are a centrist......where does it put the talking fuckheads.  Rick, I pray for you to keep your wits about you each day.

this is all i think about when i watch CNBC and Rick versus the idiots.....


Wed, 01/30/2013 - 16:53 | 3200166 Yen Cross
Yen Cross's picture

 I don't even watch CNBS on mute anymore. Just knowing that those sociopathic shills and their guests are on in the background, makes my hair stand up. I would rather use my electricity, on something productive. I'll watch santelli rant on Z/H vid caps.

Wed, 01/30/2013 - 16:57 | 3200213 ultimate warrior
ultimate warrior's picture

I just go to cnbc.com and click on the video section and look for Santelli, Faber, Schiff, Grant, etc. to see if they were on. 

Marc Faber was on yesterday if you guys missed it. Faber is the shit.


Wed, 01/30/2013 - 16:48 | 3200174 thismarketisrigged
thismarketisrigged's picture

santelli is the only guy on cnbc who has a clue. everyone else on that network r clowns, including flip flop jim cramer

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