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Rick Santelli Summarizes The Problem: "It's The Government"
While the guests on Friday's CNBC closing bell were giddy with excitement about earnings, US stocks, and 'the recovery' being "a lot stronger than people give it credit for", Rick Santelli asked a simple question, if it's all so great why is the Fed still printing billions of dollars each month? A disquieted crowd of asset-gatherers attempted a response but made the mistake of uttering the most inflammable 7 words Santelli could hear... "Where would we be without the government?" What ensued is worth the price of admission...
Who is the government (or the Fed) working for?
The guests exchange pleasantries as the "asset managers" explain how 'anecdotally' it's so awesome out there..and Rick explains his perspective on the Fed...
Guest: The underlying economy is a lot stronger than people give it credit for...
Santelli: Then why don't we end all the Fed programs? If that's true, why do we have this ongoing debate [over taper or no taper] forever? Even at the current pace of $10 bilion a meeting, we're still going to be left with $5 billion of purchases at the end of the year... End it now!!
But then we fast forward a little to the real deal...
Guest: Where would we be without the government?
Santelli: (begins)... We would be way better off! The problem is the government. They're not here to help... They're here to make healthcare more expensive, college more expensive... everything they touch is more expensive...
and then it gets good...
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hopefully we aren't the appetizers - lol.
Got any dipping sauce?
#10 cans of brown gravy just waiting!
Rick is a breath of fresh air in a sewer.
And that is relative.
I loved "How about giving the people a little vig for their money?"
The problem IS NOT THE GOVERNMENT! IT IS THEIR OWNERS!
NO.
IT IS BOTH.
Government is simply the tool those with the power use to force their will. The Oligarchs have that tool, you don't.
CNBC = DUMBFUCKS
CNBC = FUCKTARDS
CNBC = BULLTARDS
CNBC = SHILLTARDS
Any one know who the asshat in the grey suit is? That guy's face when he said, "the problem is there's so many uneducated people out there".
Yeah, he was ratting-out himself!
Right Rick. Case in point. In 2009 when no one could get easy credit housing prices collapsed. That's a healthy thing for the economy. Bring the fucking price to where wages are. The same applies to education. These fucking ZIRP bubbles are getting us nowhere.
'us' is the key word. 'they' are getting plenty'. from 'us'.
and keeping alot of 'us' fat enough not to think about what 'lampposts' means.
But...but...the deflation monster is under the bed!
Sorry Rick...it's all about the BANKSTERS first.
Airplanes and restaurants in major cities are full, so the economy is strong....to which the other Hipster-finance douche chimes in "yea!".
As another on ZH has previously written......"banker (asset mgr), lamp post, rope....some assembly required"
Restaurants that are not busy do not stay open for long. I'm sure these guys are hanging at Chili's all the time right? I wonder what percentage of the public these idiots think are eating out at their favorite establishments? Most people I know hardly ever go out, if anything drive thru at Popeyes is Friday date night. Of course everyone I know is old and cheap, so there you go. Besides, restaurants don't take SNAP cards do they?
Wrong...I see it everywhere I go...people will 'go out to eat' and will have a few drinks because it is their last enjoyment. The malls are empty. No one is selling anything and no one is buying (except big screen TVs). So, to get away, they go out to eat so they can be seen, take photos and post to Facebook and then brag and boast on other social media.
That is all we have left. It is winding down, slowly but surely.
They don't (restaurants and SNAP cards), but you can trade them in for a bag of weed or enhance your life as a surfer beach bum.
Some Assembly Required - great blog. Jim just won't quit
Politics is not a system, it is a aged and hoary feudal disease which gives us a choice to vote either for one gang of liars, incompetents, thieves, killers and knuckle-draggering barbarians with control fetishes, or - another lot exactly the same.
People are productivity and productivity produces wealth; it is called wealth-creation.
Government inhibits wealth and productivity and filters it to their own, through the banking system.
The State is always full blown corruption, engineering and monitored by the bureaucracy, the lowest form of life on the planet.
Society, represents the people by their participation through Public Service.
People vote for one lot over another as they believe that their chosen will share the spoils with them. Fat chance.
Globally, we are about to confront this dilema and about time, too,
Ho hum
." knuckle-draggering barbarians" - sounds Dittoish.
Are you telling me crony capitalism (aka fascism) is bad for the economy?? But the Germans seemed so wealthy.
Government is the problem always.
If I aggress against my neighbor, his Life, Liberty and/or Property, justice is demanded. If those of government do so, fairness is demanded. What can be "fair" about aggression?! Nothing. It is a crime.
History is replete with one lesson, and one lesson only, and that is, "Government can only produce poverty, misery and death." Even utopian communities with willing participants have failed, and so much so with coerced participants.
Those of government are the enemy. More government, bigger government, means more enemies aggressing against you and yours.
I had a dream. There was this guy at the door. He said "I'm from the government, and I'm here to help". Then I woke up screaming, sheets soaked in sweat.
Sad that Rick was only person on this panel with his beliefs. Got news for you, WE ARE CURRENTLY LIVING IN A FASCIST SOCIETY. The confluence of big government, big business, you scratch my back i'll scratch yours bullshit is in hyper-drive. (Non-government employee/retiree) labor and small business are taking it up the ass.
Where would be without the government? Really? Heath care, housing, education, energy all 50% less than it is now!
Most of these assholes have no "beliefs" beyond maintaining whatever is putting the bucks in their pockets, the rest of us be damned. Its in their best interest to believe whatever is good for them is good for everyone else. Its in our best interest to demonstrate to them that it is not.
Where would be without government?
It would be chaos.
Criminals would be free to take too large of a dump! http://mises.org/daily/3997
The price of onions would be all over the map! http://en.wikipedia.org/wiki/Onion_Futures_Act
Hey! I like chaos. It's equal opportunity.
I know it's not the answer to all of our problems, but if we could geth Freddie Kruger and Michael Meyers elected to the Senate it might be a good start. Or how about that new film, Predator vs Congress?
Rick gets line of the day: "Then why don't we end all the Fed programs like yesterday?"
You can hear crickets after that line. No matter what anyone says, everyone knows that QE is the economy.
I love the douche that thinks the economy is doing great because flights are full. Of course they are! There are only partially full flights when airlines are expecting growth. If not, they reduce flights until they are near capacity to minimize costs.
Who was that fuckstick who said we have all these uneducated people and it sucks? I know 4 or 5 people with masters degrees right now working in restaurants. That fuckstick aint in touch with Main St...very typical.
They never have been and never will be.
Exactly! US colleges are crawling with kids who have math, science and other technical degrees. It's absolute bullshit to claim there is a skills gap in this country, unless you are implying that the gap is too many advanced degrees and not enough low skill workers available.
Scum like that really infuriate me to the point of violence.
I have a masters in Engineering, was part of three start-ups, two that went IPO. I went unemployed for two years and am only now digging my way out of that hole. I ended up taking a job in LA and commuted via airplane weekly (on my dime) to resurrect my career.
When I hear people are saying that (I will not watch CNBC, so I am taking your word for it), I want to rip their heads off.
I wonder how all those in the "squares" would live on $50k a year?
With the exception of Rick and Bill, the rest were probably born with silver spoons in their mouths.
WOW Rick, you're very astute!
WOW Rick, you're very astute!
Rick Santelli. He's the MAN.....Go Rick.....Tell these assholes the way it is .........
I like that Rick is able to dominate the discussion with a bunch of shills and MSM liars.
let Rome burn... then we can start over...
let Rome burn... then we can start over...
"It's the government!"
Most ZHers won't like that: they LOVE their governments!
And the economy is only "great" for those who still have reliable jobs...technical staff, auto industry, grunt labour resource industry employees, management, government employees &c.
They're the big spenders & somehow their jobs are NEVER in danger...
God Help Us...now we really need higher unemployment to teach people a lesson.
I'm not quite sure I understand what your point is ... No, I'm sure I don't know what your point is.
Let's start with some unemployment in DC. Dump the IRS, H&HS, the State Dept., DOE, etc. Close the revolving door between the CFTC, SEC, Treasury and GS. If we do that, then this country might actually heal itself. Oh, no it won't, not until the FED is dust in the wind.
CNBC is a reality show.
Santelli is CNBC's controlled resistance. If he truly cared/believed in what he was saying, he would quit CNBC and expose them for the criminal/insider organization that they are, but he'll never do that because his gravy train would stop.
Maybe he'll follow the money chic.
Gotta feed the bears.
Being a hypocrite isn't the same thing as being controlled resistance, and I don't even think he's a hypocrite. He can get his viewpoint out on a channel that otherwise peddles pretty status quo shit, with a parade of people who confuse being right half the time with having insight. Not sure his leaving would do much. He'd be on tv once or twice and that's it if his crusade was to "expose" CNBC.
It's good to be skeptical, but you also don't want to throw out baby with bathwater.
He and Dylan Ratigan would be fine cohosts in a new show, however. Get 'em on Ron Paul tv and they'd get more ratings than this show.
I dunno about you but Ratigan's rant still gives me the ol' tingle up the leg.
Although - who's the chick with the belligerent tits on RT. She'd be a great third mic.
Replace the government with Open Source Software.
Replace government with nothing.
Lynch everyone who claims authority over you.
you're gonna need a really good lawyer, kid.
I hope you're kidding! Every official "lawyer" has taken an oath to support the predators. The LAST thing a sane individual needs or wants is a freaking lawyer. That's like asking predators to protect you from predators. Doesn't work... which is why so-called government doesn't and can't possibly work.
In the world of today, where humans have turned over everything to predator control, it is indeed much more practical to evade predators than fight them directly. I should have said that above. However, if a predator gets right up in your face and you can't evade or avoid them, the only choices you have are become their prey/slave or treat them as you would predators of any species. Admittedly lynching is one of the least convenient ways to thwart in-your-face predators, though it does send a message.
The government's not the problem. The Deep State is:
http://downwithtyranny.blogspot.com/2014/02/the-dangers-inherent-in-deep...
"There are tens of millions of low-information voters who hardly know which party controls which branch of government, let alone which party is pursuing a particular legislative tactic. These voters' confusion over who did what allows them to form the conclusion that "they are all crooks," and that "government is no good," further leading them to think, "a plague on both your houses" and "the parties are like two kids in a school yard." This ill-informed public cynicism, in its turn, further intensifies the long-term decline in public trust in government that has been taking place since the early 1960s-- a distrust that has been stoked by Republican rhetoric at every turn ("Government is the problem," declared Ronald Reagan in 1980). ??The media are also complicit in this phenomenon. - See more at: http://downwithtyranny.blogspot.com/#sthash.zs6wkpF1.dpuf
Someone needs to tell the dick in the upper right box that HS graduation rates are the highest they've been in 40 years, Drop Out Rates have fallen nearly 50% since 1990 & College enrollment is at record levels.....his silly cocktail party cliche about investing in education is bullshit! As Santelli mentioned, it's about the quality.
"We get so many uneducated people it sucks" ... starting at the top.
You go Rick!
Whoever that dickhead is saying "We get so many uneducated people", I'll bet you do, because there ARE a lot of uneducated people, there are always gonna BE a lot of uneducated people, unless you start grinding them up for Solyent Green, and right now those people are really desperate for decent jobs, and what's more you're probably offering crap wages so the few educated people available are avoiding you like the plague.
Cuz that's the standard situation in American business today.
What difference does it make?
The country, states counties and cities are going bankrupt-It appears that the military will be cut back to save $$, bit nothing on entitlements/welfare.
Corp profits-just look at NON GAAP reporting.
Or combine that with lower revenues. MCD for example has same store sales down the last 3 months------just as food prices are rising--great combo.
The govt Data is every which way but accurate.
But folks here know things are screwed up--its the 99% other there including media who have no clue.
One day its all going to freeze up and peopke in charge wil say they did not see it coming.
The App that's Fueling the Revolution in Venezuela:
http://www.defenseone.com/technology/2014/02/app-s-fueling-uprising-vene...
Wow, I thought Santelli was about to say "Doesn't anyone see this? I feel like I am taking crazy pills"
I really like Santelli, but I wish he'd start talking about default [or haircuts] and repudiation.
Or, even better, a new greenback. Is au or other backing better? I leave that up to you to decide, but I think the most important thing of all is to have the nations' currency issued by the government, and interest free.
wind down the dollar and simulataneously wind up a United States Note.
You'd actually trust the government with a printing press? Santelli was right, everything the government touches will end up becoming more expensive. Go back to constitutional money, not that it is perfect, just that it is honest money that has to be worked for. If you don't produce, then you don't get gold.
The guy on the top right appears to be drunk or something. He has that vacant look drunk people have. He looks like he's about to talk about his kids and show me pictures when I'm clearly ignoring him.
When controlled by the Federal Reserve, the economy works very much like a guillotine. When the blade is at the bottom, it poses no threat at all. Inflation of the money supply metaphorically raises the blade... higher... and higher... and higher. Most people do not perceive any threat while the blade is going up. Of course the blade eventually reaches a trigger, at which point it begins a rapid fall that decapitates everyone's investments.
This is exactly what happened early in the 20th century. The "roaring 20s" were a time of success and great prosperity, based on the false profits caused by an inflationary money supply. Then, right after the stock market crash which served as a diversion, the money supply was rapidly contracted, causing "The Great Depression". American men didn't suddenly become lazy and refuse to work. American business didn't suddenly run out of work to be done. There was plenty of work, and plenty of eager workers. Unemployment reached 25% because there wasn't enough circulating money to pay the workers for their efforts.
We learn from history that we learn nothing from history.
- George Bernard Shaw
- http://www.constitutionpreservation.org/articles/july-2-2010/fed-contrac...
this is a good one
ha ha ha ha ha ha
stupidity has no limits
http://en.ria.ru/world/20140224/187850083/Ukraine-Hopes-Russian-Gas-Price-Wont-Change--Report.html
Ukraine Has $3.3Bln Unpaid Gas Bill – GazpromWell, I'd bet that the goddamned politicians chased from office have stolen more than that 3.38Bln so who really does owe for the unpaid gas bill? But yeah, Im aware of who will get the bill in the mail. Same shit as what goes on in this country. SO do tell me why thats such a good one now?
What you might find really funny is that China leases roughly half of the Ukraine's farmland.
What do you have in YOUR wallet?
Who sows the wind, will reap the whirlwind.
Obama likes to pay tribute to our enemies and he will pay it to Putin. What he'll do is allow Russia to raise its prices. Then, we'll provide aid to the Ukraine so they can pay the bill. QED
"I haven't watched cnbc in a year and am somewhat surprsied Rick still works there. I guess playing bad cop is lucritive."
He's the only opposite view from that Wall Street circus show. Once in a while you get some reality for people like Jim Grant.
I was totally qualified for this job. Umm, almost twenty years in the business and a bachelors degree in horticulture and you won't even give me an interview just because I have never worked for the government before? Really? Fuck off, I still have gold.
Dear Manipuflation:
Thank you very much for your interest in the Park Operations Coordinator, Parks position.
We were fortunate in that we received applications from a number of well qualified applicants. However, we have selected for interviews only those candidates whose qualifications most closely match our present requirements. We regret to inform you that you have not been selected to be interviewed.
Again, we appreciate your interest and wish you luck in your career pursuits.
Sincerely,
Stearns County Human Resources
Its a club didnt ya know? You have to find the biggest asshole in st cloud and start smooching! lol
That is so true. I guess it is just what happens when you wear a Ron Paul shirt and a ZeroHedge hat around town like I do. The day is coming.
I pray for that day every night!
Consider yourself blessed you didn't get that "job". If you survived in it you might have developed a taste for shit after all the ass you would have had to suck. Merit means nothing in gubmint.
thanks for the news flash captain obvious
who was the fucking tool above Santelli who blamed the decline of education in the US on Reagan? his response and tone sounded like he came straight from the set of Idiocracy... I thought he was going to tell Rick he was tired of his "fag talk" there for a second... sheesh
lots a tards livin kick ass lives out there
Agreed. To attribute joblessness to a "lack of education" is ridiculous. There are millions of over-educated workers in our economy - college grads waiting tables to pay off their student loans.
The modern confiscation game isn't just taxes anymore. The interrelated moving parts include inflation, currency manipulation, financial repression, and the "real crowding out".
Here's a mission for ZeroHeroes, try to explain to someone that government "borrowing" isn't borrowing at all. The government gains control of more resources and it's "paid for" with a combination of overt taxes, inflation, financial repression, and crowding out. The private sector people are left with less resource usage and higher structural costs of living and doing business. The government is largely impervious to supply, demand, and market discipline. Higher structural costs not only impact competitiveness but also activities that are performed locally. Many local activities either disappear or go underground. Services, quality, inventory, basic maintenance are squeezed.
Logically the only way the government can pay back the public is with the value of the services it provides. This leads to the next of overt corruption and all the snake oily services that can't be measured with accuracy. Like safe or health or educated.
ZeroHeroes? Just so you know, we have been through this shit for a long time. Many of us have tried to come up with different ways to defeat the bullshit. I have a lot of respect for the posters on this blog. If you don't like us then just leave. There are plenty of other websites out there if we are not good enough for you.
Just compare the economy of the rest of the country (ex-NYC) with that of the D.C. area and it should be easier to see.
Logically the only way the government can pay back the public is with the value of the services it provides. And there in lies the rub. Because ultimately whatever the good or service the government provides and/or how valuable - those resources must first be taken from other productive uses. In short, the government can NEVER pay back the public. EVER. Government can never create value - it can only take it from one person and give it to somebody else. But, you already knew that.
Joe Wilson & Rick Santelli are right!
Can't help but think that that one guy arguing with Santelli was sent by Cas Sunstein. That's part of the play book, isn't it?
santelli 4 prez
There are two current political alternatives in this country. Vote for Tax Me To Death (TMTD) or for Tax’ed Enough All Ready (TEA). For those that are THTD I expect you will donate 30 to 50% more to the IRS this year to show that you love being taxed. But as for me I have had enough of Big Brother’s taxing mania. They want more and more of what you and I earn to tax us and bribe us with our own money. I can do it better than they can.
The current scheme of government is simple in all programs. Tax the suburbs to death to pay for those who need or don’t need welfare in the cities. Thus income inequality goes away. Now if you believe that…
i can't help but think that Rick Santelli is playing the Peter Shiff role this time around....did y'all see the look an the pundits during his rant, that sure looked familiar.
No shit sherlock.
You are chum.
Gov are the sharks. You're just realizing that now?
Gosh:santelli 4 prez
u like that controlled opposition now, don't ya?
What??? It not George Bush's fault???? It Ronald Reagan's now????? What is next??? It's George Washington's fault??? Wow
Santelli is still within the parameters of allowed dissidence so he is encouraged, for a time. The reference to Reagan keeps him within the sphere of red and blue. He is correct in that we would be better off without the government. The state is always the state and only exists when there is money to be made through oppression and subjugation. When the marrow has been sucked from the bone, the state will wither and its authors and their acolytes will move on to greener pastures.
Greener pastures? Yep, leaving a wake of ruined lives and destruction behind them.
Rick Santeli is right... and the chick on CNBC is hot!!!! Hot as hell!!!
She's mine!!!
What???? End free money??? Have you totally lost your fucking marbles???
What are all those fatass single momma welfare hos gonna buy their fucking Doritos and Diet Cola with???
But then he to me seems to always forget mentioning
the govt's not democratic but is
privatizers' puppets playing on
people's weaknesses.
Some, not all (some have the
masses still engaged in the
blame game,) African states understand that
better than do many Americans.
They've moved on to using solar energy
in tandem with teaching their kids with
new computers.
https://duckduckgo.com/?q=rwanda+mali+solar+energy+computers+education
https://duckduckgo.com/?q=ghana+solar+energy+computers+education
Santelli is a lightweight even by CNBC "standards".
It was asswipe channels like CNBC with their endless cheer leading that pumped up the stock bubble in the first place, and morons like Alan Greenspan with their endless free money each time the market went down a point, that got America and the world into this current fucking mess.
Fuck CNBC.
It won't end until gravity and reality take over.
The thought that government money printing is "good" for the economy is classic broken window theory. If disaster and the resulting rebuilding are "good" then why don't we just bomb every city into rubble? Why not just print $100K for every US Citizen? That would be a big shot in the arm for the "economy" wouldn't it?
Santelli is the only commentator on CNBC that I would let marry my daughter... (if he was a bit younger and had a little more hair!).
A month ago, I was on a flight from Chicago to Amsterdam, then 2 weeks later Brussels to Chicago. Both flights in economy plus, I was able to take the entire center aisle to lay down. If the seats were 50% occupied, I'd be surprised.
Then this Sunday, I go to lunch at a well known restaurant chain, plenty of seating available.
So I have no idea what that dude was talking about when he said "the airplanes are full, the restaurants are booked...". Complete bullshit.
"the airplanes are full, the restaurants are booked..."
The restaurants in Manhattan probably are.
We need a civil war to root out all these cancers
We do, but who is going to fire the first shot? Leadership is needed, and for that to happen, it needs to be someone with nothing to lose whom people will follow.
its something i have trouble with...the government is us, not a remote person...well unless someone comes up with a way to measure waste in government and sets objectives like living standards, debt reduction (via fiscal surpluses I have long discarded the mantra that as long as the economy grows faster than the interest rate things are fine).
if government is a private club with money as the only entry qualification and that money is only ever sourced from corporations then ok..time for laws that ban sponsorship of politics...ie end lobbying altogether...pay polticians for results not attendance
The gov't is us? Do you really feel that your concerns are being addressed by your senators and reps? How about 0bama issueing dictats like some commisar-totally against the Constitution. And the check-and-balance that should be the Congress just goes along to get along. And don't forget the electronic Gestapo (n$@) and their enforcement arm the IRSS.
We, The People need to flush the DC turds out this year and put people in there who really DO respect the Constititution and will govern by it.
President Jefferson, one of our founders, wrote warnings 200 years ago for us!! He Said,
“The Democracy will cease to exist when you take away from those who are willing to work and give to those who would not.”
“My reading of history convinces me that most bad government results from too much government.”
“A government afraid of its citizens is a Democracy. Citizens afraid of government is tyranny!”
“If people let the government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as the souls who live under tyranny.”
“Experience has shown that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.”
“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” (Author’s Note: The Federal Reserve falls into this category).
“I predict future happiness for Americans, if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
“Laws that forbid the carrying of arms . . . disarms only those who are neither inclined nor determined to commit crimes. Such laws make things worse for the assaulted and better for the assailants; they serve rather to encourage than to prevent homicides, for an unarmed man may be attacked with greater confidence than an armed man.”
President Jefferson believed that each “State” not federal government, had exclusively the rights to adjust these decisions and warned that a too powerful Central Government would assume power from the people to itself. That Jefferson contended is the true definition of Socialism
The Fed Reserve he complains about, is NOT the government.
Hell, the government isn't even the government. It doesn't report to the people, its hardly held accountable at all. It's more of a corporation with employees (tax payers) and shareholders.
The USSA is in the same situation as China and the USSR in the 80s and 90s. The USSA is a Corporate Communist state......meaning, we live under a State Corporation, who is beholden to shareholders (the super rich who are autonomous and sovereign to any state), and the Fed Reserve (who buys up the Treasuries). That's why they opt for Central Planning; those folks need to keep making money at the behest of the actual principles the US ws founded on when it became a republic.
Yes, like the dirty bankers at GS, JPM, etc.
Santelli needs to break from the statist propaganda before he loses every single dollar to his name defending this "free" market.
rick santelli is a moron, plain & simple; as well as being the "main" reason why CNBC is always on MUTE, particularly since mark haines passed away!!!!! i have a simple q: how many people here have increased their net wealth over the last 5yrs by following santelli's moronic advice/observations? how many here have increased their net wealth, by remaining clear-headed, understanding the FED's actions and acting sensibly? be honest ;-)
Rick is the lone voice of sanity in the insane world of CNBC sycophants. This WILL NOT END WELL.