This page has been archived and commenting is disabled.

Santelli Bashes Central Bankers' "Sand-Castle Economies"

Tyler Durden's picture


It has been four years since Rick Santelli's epic "are you listening Mr. President?" speech and the bad behavior has merely been more and more rewarded. Assisted by the enablers of the world - Central Bankers - and their liquidity pump of awesomeness, Santelli exclaims that all we are doing is "promoting bad behavior," as the elites "build sand castle economies." His frustration is contagious as he outlines just what has not happened in the last four years - from no-budget to blow-out deficits, and from grand deals to grand bargains to no deals, and Europe's imploding economies - he sums it up perfectly - "we're gonna need a lot of luck."


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 02/19/2013 - 15:51 | 3257095 Unprepared
Unprepared's picture

It's all Sandy's fault.

Tue, 02/19/2013 - 16:05 | 3257149 redpill
redpill's picture

Rick you keep saying the same things, and it's not that they aren't valid, but isn't it about time to step it up a notch?  Maybe suggest some civil disobedience?  Tax time is coming up, a gentle proposal that we starve the beast for one year to teach it a lesson may be just the ticket.  Or heck if that's too much for you, a simple request that all your viewers file a new W-4 and take maximum deductions.  Unfortunately either one would be off-script for CNBC and you'd get canned, but at least we'd get some excitement.

Tue, 02/19/2013 - 16:08 | 3257169 francis_sawyer
francis_sawyer's picture

Nah ~ In the end, Santelli is the controlled opposition... The only way they'd ever fire him is if he went off & did something stupid like use the J word...

Tue, 02/19/2013 - 16:09 | 3257186 toxic8
toxic8's picture

OT but get familiar with RIOT fellas -

Raytheon software trolls social networks
February 12, 2013, San Francisco Chronicle (SF's leading newspaper)

Raytheon, a Massachusetts defense contractor, has built tracking software that pulls information from social networks, according to a video obtained by the Guardian newspaper in London. "[Raytheon] has acknowledged the technology was shared with U.S. government and industry as part of a joint research and development effort, in 2010, to help build a national security system capable of analyzing 'trillions of entities' from cyberspace." Using public data from Facebook, Twitter, Gowalla and Foursquare, the software - called RIOT, or Rapid Information Overlay Technology - apparently gathers uploaded information and forms a profile of a person's every move that was registered with one of the websites. The video obtained by the newspaper starts with a demonstration by Raytheon's "principal investigator," Brian Urch, showing how easy it is to track an employee named Nick - a real person - based on all the places he has checked in using his smartphone. "When people take pictures and post them on the Internet using their smartphones, the phone will actually embed the latitude and longitude in the header data - so we're going to take advantage of that," Urch says. "So now we know where Nick's gone ... and now we'll predict where he'll be in the future." Urch goes on to analyze - using graphs and calendars - where Nick likes to spend his personal time and make predictions about his behavior. "If you ever wanted to get a hold of his laptop, you might want to visit the gym at 6 a.m. on Monday," Urch says with alarming casualness.

Note: To read the full Guardian article, click here.

Tue, 02/19/2013 - 16:34 | 3257285 NotApplicable
NotApplicable's picture

Wow, not a single mention of the Goog, or it's massive tracking ad-network.

Though people dumb enough to use foursquare deserve to get profiled, good and hard.

Tue, 02/19/2013 - 16:42 | 3257320 ptoemmes
ptoemmes's picture

BTW - Raytheon also provides the targeting subsystem for the Predator B drone - I mean UAV:


Wouldn't it be a RIOT if the drone was there to meet Nick at his predicted location?  It I were Nick, I'd be worried, very worried.



Tue, 02/19/2013 - 19:56 | 3257826 Edmon Plume
Edmon Plume's picture

Hiiiii Nick? This is Heather, yeah, we met at the gym the other day.  You are sooooo hot , I want you.  Meet me in front of ___________________ in 30 minutes and we'll find someplace private.  Wait for me if I'm running late...

Tue, 02/19/2013 - 23:40 | 3258391 thisandthat
thisandthat's picture

It's called Exif data. You can delete it, plenty of tool to do that.

Tue, 02/19/2013 - 16:37 | 3257299 Cortez
Cortez's picture

Jew, Jigaboo or Jihad?

Wed, 02/20/2013 - 05:39 | 3258737 MSimon
MSimon's picture


Tue, 02/19/2013 - 16:41 | 3257313 SMG
SMG's picture


     I've noticed your "it's all the Jews fault" routine you've been playing on here for quite a while, and have come to the conclusion you are either misinformed or a paid troll of the Elite.  In which case I'd like address both possibilities.  I feel this is hurtful to the cause of stopping their NWO plan and bringing justice to the correct people as you are blaming the incorrect people. 

     The real Elite are not Jewish, they practice an occult Lucifierian religion in which the believe they are a god and can determine their own right and wrong.   They publicly may be practice other religions, but secretly they follow this Luciferian religion.    They control everything through the following government system.

 George Bush Sr. is very high on the pyramid for example, and he is publicly Church of England.     Also if you actually talk to actual real Jewish people whom understand what's going on, they realize it's Satanic and are against it.  So I would ask you to reconsider blaiming the wrong people, as it hurts the cause of true freedom.  Which many on the site support.

In the case you are a paid troll, I would ask you to consider what will happen when the Elite depopulate the Earth from useless eaters and it's just lower ranking Elite like you left around.  Will the people at the top of the pyramid suddenly stop being evil and mistreating those they see as lesser?  Do you really want to help those who would step on you as readily as they step on we useless eaters.  Do you really want to live in a world with no morality?   How'd that work for Rome?




Tue, 02/19/2013 - 16:54 | 3257375 john39
john39's picture

how do you know who is and is not part of the 'blood line'?   Tex Marrs called the Bush family out as cryptos....

and, whether or true or not, think about this...   Most U.S. presidents, including Bush and Obama are related to each other and european royalty...  unsurprisingly, the Windsor family publically has acknowledged that they consider themselves descendants from the 'house of david'....  whatever that means.

I would agree with you, that your average Jewish person is a pawn like most everyone else...  but, i wouldn't be so quick to bash others as trolls because they may use the fabricated term "Jew" a bit loosely. 



Tue, 02/19/2013 - 17:30 | 3257475 francis_sawyer
francis_sawyer's picture

Why all the complicated analysis?


It is you people who get your panties all in a bunch if I mention jews... I'm not talking about Luciferian World Orders here [you people are]... All I do is shine a spotlight on the abnormally high representation of people that [would call themselves 'jews'], as a percentage of the aggregate of those in power nodes... I ask if anybody else thinks that's strange... Apparently NOT [because I don't even have to say 'jew'... all I have to do is say "J word", as above, and people are freaked to high heaven]...

This... FOR ME... Is an information gathering technique... I don't work for anybody... I process the information FOR MYSELF... If I were stone cold silent, I would never learn a thing... I've learned that if I go just about ANYWHERE [except ZH]... If you make any sort of comment [no matter how true, or how eloquently stated] that calls jews into the debate, the comment is IMMEDIATELY deleted...

I call that 'paranoia'... [& for what]?... Are people dying because I use the word jew?... I guess they must be & I don't know about it...

I think there was some French writer who sad something to the effect of... "The people who are trying to shut you up are the people with power"... I don't really know how "powerful" the jews are, but I do observe that there's more time, effort, manpower, & money invested in getting people to be stone cold silent when it ever comes to criticizing jews... How many 'Anti Defamation Leagues' are there anyway?

Whatever... At minimum ~ I get a kick out of watching people squirm around about nothing... If there was nothing to hide ~ some may actually GET the joke...


Tue, 02/19/2013 - 18:29 | 3257649 Mr. Mandelbrot
Mr. Mandelbrot's picture

This is one of those times where I wish I could hit the "up" arrow more than once . . .

Tue, 02/19/2013 - 18:44 | 3257675 earleflorida
earleflorida's picture

the money masters don't care about internals, period!

all they're interested in, is financing [countries/sovereigns]governments,... and, it is when these sorry sovereign governments don't pay the vig, that the sword of a certain 'red shield' comes out of its sheave proclaiming,  'War-with-A[we]ll'!?

it's that simple...

Tue, 02/19/2013 - 20:59 | 3257950 francis_sawyer
francis_sawyer's picture

Let's cut through all the bullshit and simplify the whole thing shall we?


Let's say that two different scenarios are possible...

- SCENARIO A is that this is all being masterminded [in which case, then whoever is doing it is, IN FACT, EVIL].. Which means that there DOES exist a perp, or a select group of perps... This would also portend that the 'conspiracy nuts' are, IN FACT, correct... & that the peple who ridicule them are a bunch of assholes...

- SCENARIO B is that it's all just a bunch of random shit... If tha is true, it doesn't change the fact that we have a bunch of blithering idiots seated in almost every central banking operation, & MSM organization on the planet... So ~ that makes the Krugmans, Bernankes, Greenspans, Geithners, Blankfeins, Greenbergs, Netanyahu's, all a bunch of either IDIOTS, or 2 BIT criminals...


Be my guest to decide which way you want it... As always ~ francis_sawyer is not the one stealing your money, or your kid's future...

Tue, 02/19/2013 - 17:02 | 3257405 Oldballplayer
Oldballplayer's picture

Unfortunately, encouraging people to NOT pay their taxes is a felony.



Tue, 02/19/2013 - 21:11 | 3257987 JohnGaltsChild
JohnGaltsChild's picture

Yes, and paying your taxes supports felons.

Tue, 02/19/2013 - 21:31 | 3258038 lunaticfringe
lunaticfringe's picture

Not true fearmonger. 

Wed, 02/20/2013 - 03:26 | 3258665 redpill
redpill's picture

Incorrect.  That would apply to tax professionals advising people that not paying their taxes would not get them in trouble.  That is very different than someone in a media role suggesting people could not pay their taxes and readily admit they would be subject to a penalty, but argue that it would be worth it to prove a point.  And, by the way, it fucking would be.  So maybe think about being part of the solution instead of being part of the peanut gallery.

Tue, 02/19/2013 - 19:37 | 3257784 Meat Hammer
Meat Hammer's picture

I took every deduction possible and will sock it away until 4/15/14.  Fuck those mother fuckers.  No interest-free loan for them!

Tue, 02/19/2013 - 18:03 | 3257572 More_sellers_th...
More_sellers_than_buyers's picture

I recall watching Rick when he first started, I traded on the floor in NY.  I would watch amused as he stumbled his way through things not really understanding them.  As time went on he was the one who really "got it" , then he became a lone voice of reason that wasn't bought and paid for.  Then he lost his mind when the gubmint wanted to pay off idiots mortgages and I was right there with him yelling YES!, and now I look at him and see myself, older, cranky, mad at the world, wondering why idiots make policy that have no clue, wondering why no one cares and it makes me sad.


Tue, 02/19/2013 - 15:51 | 3257096 francis_sawyer
francis_sawyer's picture

Santelli ought to switch to a comedy routine to shake things up a bit...

Tue, 02/19/2013 - 16:04 | 3257150 Divided States ...
Divided States of America's picture

I think Bernanke and the other central bankers have lost total control of the capital markets and know it but they dont know what they should do but let this thing go on for as long as it does.

Tue, 02/19/2013 - 16:09 | 3257182 Stoploss
Stoploss's picture





All useless, together, or individually..

Tue, 02/19/2013 - 16:05 | 3257157 kliguy38
kliguy38's picture

They don't mind the Rickster anymore because they've "nullified" him. No one even listens anymore and the mind-numbing daily antics of the market make his "truths" a self-parody...When its over, he'll be proven right, but no one will be out there breathing.

Tue, 02/19/2013 - 16:09 | 3257185 brak
brak's picture

Wait.. I thought Rick was the straight man to the rest of the CNBullShit's comedic satire

Tue, 02/19/2013 - 16:34 | 3257287 Clowns on Acid
Clowns on Acid's picture

Bill Maher should have Santelli on his show.....was going to say O'Reilly...but don't think FOX would do that.

Tue, 02/19/2013 - 15:55 | 3257112 resurger
resurger's picture

"Liqudity waves will knock down the Sand Castle Economies"


Tue, 02/19/2013 - 15:55 | 3257119 Joe moneybags
Joe moneybags's picture

Santelli's schtick gives him notoriety, but it hasn't made anyone a dime.

Tue, 02/19/2013 - 16:10 | 3257190 Ness.
Ness.'s picture

Do you know him?

Tue, 02/19/2013 - 19:23 | 3257122 ebworthen
ebworthen's picture

Castles in the sand, castles in the sky, castles in Suburbia, for the 1% who can buy.

Tue, 02/19/2013 - 15:57 | 3257124 dbTX
dbTX's picture

"We're gonna need a lot of luck"  Sorry Rick, there ain't that much luck in the world.

Tue, 02/19/2013 - 15:59 | 3257127 cliffynator
cliffynator's picture

"And so castles made of sand,

fall into the sea,


--Jimi Hendrix

Tue, 02/19/2013 - 16:05 | 3257164 hooligan2009
hooligan2009's picture

the fat lady is singing, benrnanke's circulation of money theme song

Tue, 02/19/2013 - 16:09 | 3257183 thomasincincy
thomasincincy's picture

and i thought you were going to link some fat woman with a viking helmet at the opera...that's weak

Tue, 02/19/2013 - 16:30 | 3257276 thomasincincy
thomasincincy's picture it

reminds me of those bugs bunny cartoons

Tue, 02/19/2013 - 16:49 | 3257354 hooligan2009
hooligan2009's picture

actually, i think bernanke thinks he has a nano suit and that sterlized buybacks of toxic mortgages exist in real time volumetric cloud shadows, procedural HDR flares and shapes with dynamic water volume caustics and unlimited particle fx lighting for top secret tassellated frog for example, QE3 = Crysis 3  here!

Tue, 02/19/2013 - 16:00 | 3257128 Hohum
Hohum's picture

Sure, Mr. Santelli's right.  But if he thinks his alternative is going to be better for most people...dream on, brother, dream on.

Tue, 02/19/2013 - 16:00 | 3257133 Yen Cross
Yen Cross's picture

 That was a good rant Rick. Where is that fuckwad Liesman?

Tue, 02/19/2013 - 16:02 | 3257143 hooligan2009
hooligan2009's picture

he is polishing his head so his tin hat fits better

Tue, 02/19/2013 - 17:59 | 3257557 Motorhead
Motorhead's picture

Liesman...what a royal putz.  Liesman and Krugman...they rhyme, and they are both dorks.

Tue, 02/19/2013 - 16:00 | 3257136 Clowns on Acid
Clowns on Acid's picture

"Luck " ? I thought we were in Hope and Change mode...?
Are those the same thing..?

Tue, 02/19/2013 - 16:01 | 3257138 azzhatter
azzhatter's picture

Carl "the metrosexual communist" Quintanillo has no response because everything Santelli says goes against his master Obamas plan to help the poor middle class

Tue, 02/19/2013 - 16:09 | 3257179 Yen Cross
Yen Cross's picture

Carl the "Judge" that pussy makes me laugh! 

He's a gutless assclown! He tries to be the voice of reason, and comes off like " Harvy Milktoast". Fuck off CNBS!

Tue, 02/19/2013 - 16:03 | 3257140 JustObserving
JustObserving's picture

Four fucking years and four trillion dollars too late.  Every Zero Hedge regular has been pointing that out for years.

Santelli, talk about gold and silver price manipulation next.  You will be only 2 years too late.

Tue, 02/19/2013 - 16:02 | 3257141 hooligan2009
hooligan2009's picture

the tea party needs a slogan :>)

they aren't spartacus yet, i suggest "pay off your debts, pay no taxes, take no benefits!"

Tue, 02/19/2013 - 16:03 | 3257142 The Thunder Child
The Thunder Child's picture

Can we stop calling them elites please?

If they were elite we would still all be in the dark drinking the turd speckled kool aid,  I would prefer something along the lines of:

  • Moldy Babylonians
  • Inbred Illuminati
  • Krusty Khazzarians
  • Naked Nitwits
  • Fucking Freemasons
  • Raping Rothschilds

Please feel free to add some more...

Tue, 02/19/2013 - 16:04 | 3257153 Sandy15
Sandy15's picture

I like the "Raping Rothchilds"

Tue, 02/19/2013 - 16:06 | 3257167 resurger
resurger's picture

i liked them all

Tue, 02/19/2013 - 16:10 | 3257188 francis_sawyer
francis_sawyer's picture

How about 'Miserable Fat Belgian Bastards'...


Tue, 02/19/2013 - 16:11 | 3257195 adr
adr's picture




Tue, 02/19/2013 - 16:25 | 3257223 The Thunder Child
The Thunder Child's picture

They mascarade as Jewish as well as Christian but they worship Lucifer, son of the morning.

Rev 3:9

Behold, I will make them of the synagogue of Satan, which say they are Jews, and are not, but do lie; behold, I will make them to come and worship before thy feet, and to know that I have loved thee.

Lumping Zionist, Luciferian, Talmud loving whackos in with regular peaceful Torah worshipping hebrews need to come to an end. People need to learn how to articule and seperate the two in order for us to expose who they are. We need to help and encourage the remaining decent parts of judaism to call out the nasty scars on their faith.

P.S. I am not very religious but there are a lot of esoteric keys in the bible, the wise study and learn from them.

Tue, 02/19/2013 - 17:10 | 3257336 SMG
SMG's picture


Tue, 02/19/2013 - 16:11 | 3257196 The Thunder Child
The Thunder Child's picture

Gallow Fodder

Tue, 02/19/2013 - 16:10 | 3257187 adr
adr's picture

Inbred Freemasons raped by Rothchilds fucked by Illuminati worshipped by Babylonians who thought the Gods were monkeys.

Tue, 02/19/2013 - 16:19 | 3257230 Seasmoke
Seasmoke's picture

Just Jews

Tue, 02/19/2013 - 17:39 | 3257451 Henry Hub
Henry Hub's picture

Rabid Ratafarians


Rabid Rosicrucians

Tue, 02/19/2013 - 17:30 | 3257471 natronic
natronic's picture

Flea Infested Varmints 

Tue, 02/19/2013 - 16:05 | 3257154 are we there yet
are we there yet's picture

Our future is Royally lucked.

Tue, 02/19/2013 - 16:10 | 3257193 Winston Churchill
Winston Churchill's picture

We have a future ?

Tue, 02/19/2013 - 16:07 | 3257170 adr
adr's picture

Bernanke says:

Bash me all you want silly little man. I've got the rest of your network in the palm of my hand. Anyone that cares isn't watching you anyway. I gave the watchers 100% returns in four years. THEY WORSHIP ME!!! HAA HA HA HA.

Tue, 02/19/2013 - 16:09 | 3257189 Reptil
Reptil's picture

• Introspective Inbreds
• Affluent Abominations


Tue, 02/19/2013 - 16:12 | 3257191 Dr. Engali
Dr. Engali's picture

Are you a pregnant mother or a elderly man with a shotgun? If you are the Department of Homeland Security has a target just for you. Or should I say a target to look like you?

2 billion rounds of ammunition will take out a lot of pregnant mothers and elderly gunowners

Tue, 02/19/2013 - 16:17 | 3257224 Seasmoke
Seasmoke's picture

2 for 1..................pregnant women will be like a prize kill for these thugs......

Tue, 02/19/2013 - 17:35 | 3257465 Henry Hub
Henry Hub's picture

The Israeli military wear t-shirts with Palestinian pregnant women as targets. Don't you love Israeli humor?

Tue, 02/19/2013 - 19:51 | 3257811 hooligan2009
hooligan2009's picture

this is what a 1% rulling 99% turns into, coming to a DHS patrolled site near you (if the drones are in short supply)


Wed, 02/20/2013 - 00:33 | 3258488 Henry Hub
Henry Hub's picture

The Zionist have control of the government. The Bill of Rights has been shredded. NDAA will allow for arrest and indefinite detention without trial by the military. The final hurtle is to disarm the population. Our Zionist overlords are rapidly putting everything in place to turn Americans into the new Palestinians.

Tue, 02/19/2013 - 16:13 | 3257201 Slightly Insane
Slightly Insane's picture

There is ample "Bad Luck" to go around.  In my humble opinion, we will soon see the other side,


lot's of Luck my friends

Tue, 02/19/2013 - 16:13 | 3257202 azzhatter
azzhatter's picture

I turn on CNBS occasionally to catch Rick's rant but frankly they are getting well worn. That show he interrupts might be the most startlingly stupid show I've ever encountered. Jim "asswipe" CRamer, Simon "dickhead" Hobbs, Melissa "rottencrotch" Carl "fuckstick" Quintanilla and that pompous fucker David Faber all wasting valuable bandwidth blowing each other and masturbating to photos of Warren Buffett and Lloyd Blankfuck and Carl Icahn. Then they bring on Santelli to rant and rave about something to give the appearance of balanced reporting. Occasionally they bring on Phil "I'll blow any auto executive" Lebeau to tell us how wonderful that the obama administration was for saving us from ourselves and bailing out GM and Chrysler. This supposedly passes as journalism when it is actually just jizm for the masses. Not a lot of critical thinking going on with this station. Steve "I sucked off the entire Federal reserve and I'll do Draghi if you let me" LIESman pops in with some Columbia journalism pablum while pretending to be an economist(like who the fuck would want to pretend to be an economist?) to cap off a stellar broadcast that any Marxist nation would be proud of.

Tue, 02/19/2013 - 16:54 | 3257373 Cstrupp4241
Cstrupp4241's picture

Lloyd Blankfuck?... hilarious!!!

Sorry to say BUT, Santelli is simply saying the truth. Central bankers, supported by their polititian friends are completely irresponsible + addicted to printing fake money...M2 levels are historically high, but under a surreal basis...The end of all these actions have to catch up with all of us, sooner or later...

Tue, 02/19/2013 - 16:16 | 3257220 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

How long until the producers at cnbc make Rick wear a tin foil hat during his spot?

DJ 15k?

Tue, 02/19/2013 - 19:49 | 3257807 Phoenix_Rising
Phoenix_Rising's picture

Or maybe a propeller hat....

Tue, 02/19/2013 - 16:21 | 3257236 yogibear
yogibear's picture

All the member banks are floating in a sea of liquidity provided by Bernanke and the Fed. It goes right into equities.

Bernanke and the Fed must keep printing.

Tue, 02/19/2013 - 16:28 | 3257264 q99x2
q99x2's picture


Tue, 02/19/2013 - 16:30 | 3257277 youngman
youngman's picture

I feel Rick´s frustration......that 30 year bond sale last Thursday...was just bought today by the Fed....what market????

Who is fooling who?

China is not getting fooled...neither is Russia...India...they are as crooked as we are....probably more...some day they will dump their holdings....I used to think it would be slow and I think they will dump to show now who is the new boss....

To me there are two markets....paper fiat....or PM´s....even with the last weeks and this week dump of PM´s....i think there is a dark side to this slide...its not normal....after the G"= announces a currency do not dump PM´ buy to use your HFT Computers to cheat...that does not suprise me....but noone is selling PM´s right now......just doesn´t pass the smell test

Tue, 02/19/2013 - 19:36 | 3257780 Diogenes
Diogenes's picture

China stopped buying the 30 year, then the 20, then they only bought the 1 year, in the last 2 years they bought nothing but I expect they are cashing in bonds  as they mature.

Instead of buying US bonds they are buying hard assets around the world, mines oil wells farm land natural resources of all kinds.

Could they be paying for these things with US bonds? Pawning off the bad money in a way that won't collapse the market value?

Tue, 02/19/2013 - 16:35 | 3257288 rsnoble
rsnoble's picture

1 quadrillion + in derivatives= no such thing as luck.  Most likely WW3 or a big spat at least.

Sand castle economies?  Not true.  China has real, tangible unoccupied cities.  LMFAO.  Thanks for raising the price of raw materials you fucking pricks.

Tue, 02/19/2013 - 19:53 | 3257816 Bobbyrib
Bobbyrib's picture

We did it to ourselves by buying their shitty products when we could have bought American. Where do you think they got the money to build those cities? Check your bank account and your neighbors.

Tue, 02/19/2013 - 16:42 | 3257316 jharry
jharry's picture

Our pal Rick Santelli hits the nail of the head.  It's like natural gas, ooh I apologize, will save the US economy.  And we should agree. Energy is our main problem, aside from all the greedy girls and guys who want everything for themselves. Peace and Love, Man.

The Dude

Tue, 02/19/2013 - 16:44 | 3257327 nakki
nakki's picture

I used to work on the floor right behind Rick in the Eurodollar options pit (rates not currencies) and we (brokers locals and clerks) would joke about the future. The future  with only 1 bank. It appears we were right.

Tue, 02/19/2013 - 16:53 | 3257367 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Looks like we maybe getting a hair of truthiness out of the FED (for whatever that is worth) with Janet "Old" Yellen contradicting the B.S. on the unemployment data numbers.

Speaking at the “A Trans-Atlantic Agenda for Shared Prosperity” conference sponsored by the AFL-CIO, Friedrich Ebert Stiftung and the IMK Macroeconomic Policy Institute in Washington on Monday, Federal Reserve Vice-Chair Janet Yellen admitted in her speech that the official unemployment rate of 7.9 percent is actually incorrect because of a variety of factors.

According to Yellen, who is considered a potential successor to Fed Chairman Ben Bernanke, stated that the unemployment rate is actually 14.4 percent. This number includes about 800,000 discouraged workers who have given up seeking employment and roughly eight million workers who are in part-time jobs but would prefer to work a full-time job.

“The unemployment rate now stands at 7.9 percent. To put this number in perspective, while that’s a big improvement from the 10 percent reached in late 2009, it is now higher than unemployment ever got in the 24 years before the Great Recession,” said Yellen in her prepared remarks.

“Moreover, the government’s current estimate of 12 million unemployed doesn’t include 800,000 discouraged workers who say they have given up looking for work. And, as exhibit 6 shows, 8 million people, or 5.6 percent of the workforce, say they are working part time even though they would prefer a full-time job. A broader measure of underemployment that includes these and other potential workers stands at 14.4 percent.”


Hey Old Yellen that is what U-6 rate measures. Now we know what the FED now considers as an accurate unemployment measure. More like they need to up the rate to justify the money printing since 14.4 is that much further away from their target level to ease up on the money press. I can see the ole switcharoo of the official measure to the U-6 rate right after sequestration goes into effect to punish the Republicans by Obama with this being the FED's way of lubing up the unsuspecting general public's assholes with vasoline before the inevitable ass rape.

Tue, 02/19/2013 - 17:18 | 3257442 ramacers
ramacers's picture

ah, sand castles, which will ultimately be washed away with rivers of blood. gotta happen.

Tue, 02/19/2013 - 19:44 | 3257795 Meat Hammer
Meat Hammer's picture

If I were a techie I would create an app where you could practice shooting bankers on a dead run...or rope them like steer and hang them from trees.

Tue, 02/19/2013 - 20:29 | 3257889 SillySalesmanQu...
SillySalesmanQuestion's picture

+1  Still laughing...a very pleasant visual image that I won't be able to get out of my head for days.

I would patent and call Apple..

Tue, 02/19/2013 - 19:51 | 3257809 Bobbyrib
Bobbyrib's picture

Something tells me that if Santelli pointed out that the worthless paper pushers of the CME only have a job, because of Bernanke's money printing ways he would not hear so much encouragement. Those losers in the CME pit got bailed out just like their neighbors with the extra bathroom. Next time Santelli should go to a farm, or a factory if he wants to ask people if they want to bail anyone out. The losers he hangs out with everyday are in on the Wall St scam. It's not like he is hanging out with Joe Avg buying commodity future contracts, he is hanging out with the big boys of Shitcago who are ripping everyone off. At least PM's are still on sale. Thanks fuckers.

Tue, 02/19/2013 - 21:51 | 3258087 Patriot Pete
Patriot Pete's picture

And the German Investor Sentiment index takes a huge jump today.......for what reason?

Tue, 02/19/2013 - 22:21 | 3258183 hooligan2009
hooligan2009's picture

sieg heil!

they are all spartacus, well some of them are..hey what news n that huge bepe grillio rally in rome today?

his ***** could be the power broker keeping berlusconis dick in his pants and monti's dick out of his!

Wed, 02/20/2013 - 00:51 | 3258511 Notarocketscientist
Notarocketscientist's picture

Oh Rick can you just fuck off. 

I am still waiting for your rant against the likes of Corzine and the cocksuckers at Goldman who rigged shit to explode in the buyers face.

Why aren't you screaming 'PUT THOSE FUCKING COCKSUCKERS IN JAIL!!!'

You know why of course - it's because you and the rest of the cheerleading MUPPETS at CNBS are sychophants to the banks and major corporations. 

It is they ultimately who pay your salary because if they were offended and refused to appear on your network (where Joe Kiernan and Sorkin stroke the boners under the table while whispering soothing words as Becky rims them) then nobody would watch and you'd all be on FOOD STAMPS

Come on Rick - have some balls - take on the Banks you RAT BASTARD!

Otherwise close your BIG ANNOYING HOLE - and bend over and just take it from your bankster buddies.

And anyone who is a fan of Rick has been played for the biggest sucker on the PLANET.  He works for CNBS for christ's sake!  That is as MSM as it gets!!!


Wed, 02/20/2013 - 02:12 | 3258620 Mark Urbo
Mark Urbo's picture

Oh right - take it out on Rick instead of the Obama lover's and their macro academic economic tsnami of BS...

Notarocketscientist fits !

Wed, 02/20/2013 - 02:30 | 3258639 The Econ Ideal
The Econ Ideal's picture

Best not to rely on luck.

Do NOT follow this link or you will be banned from the site!