Santelli On The Chain Of Insolvency

Tyler Durden's picture

While it is not unusual for everyone's favorite truth-seeker in Chicago to cut to the chase and simplify the over-complex world of data and nuance that is thrust upon us day after day, CNBC's Rick Santelli outdoes himself today. Initially addressing the retail sales and housing data dichotomy, Rick jumps above the noise of day-to-day data and focuses on what is critical - in his view - the weather and the debt. If only he had used the term "It's the debt stupid" as it would have made for better headlines but the clip below should help anyone and everyone decide on whether this dip is for buying or fading/waiting. In the end, Santelli notes, "It is simple. There are questions about weather and questions about debt. First one we'll know more about in the next two or three months. [For the] latter, we'll have to look toward our neighbors in Europe to see how it ultimately turns out and see if our political class is going to do a better job than the European bureaucracies."


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AnAnonymous's picture

US citizen Santelli spreading class warfare again...

Take note how it refers to the US citizen political personal in Europe as bureaucracies while refering to elected personal in the US as political class.

US Santelli incitating class division and warfare...

LouisDega's picture

Are you sayin' Santelli is  good cop bad cop? Oh Lordy!!!

johnu1978's picture

I've been telling people since 2006(when the depression began) to learn primitive and sustainable skills. When the dollar crashes the food supply will be cutoff and people will have to be able to sustain themselves locally.

Here's a great website about primitive classes:

Check it out when you have a chance. You'll be glad you did. :o)

AnAnonymous's picture

That is a good one.

But lets face: all these means of sustaining oneself in case of societal collapse will be patrolled by people with guns.

They wont let you have access to the hunting grounds.

And if you plan to defend your land with arrows and bows, well, they will take it.

Many guns in the US of A, much ammo, and NATO round performs better against unarmoured targets.

And more than anything else, a lot of US citizens...

Oh regional Indian's picture

Who all caught his horned owl hand symbol at 1:10.

Anti-establishment, establishment man.

Who shows two like that?



Agent P's picture

Someone who doesn't want to unintentionally trade contracts while giving an interview on the floor of the CBOT...or maybe he's just a UT fan.

Oh regional Indian's picture

I doubt the longhorn bit unless he is from there.

That was a flash, count on it. 


Agent P's picture

UT was sarcasm.  Still, I think you're over analyzing it.

vxpatel's picture

Yes agent p, we shouldn't think too much right...? we shouldn't think more than we're allowed to think...

phalfa5's picture

Baseball, the Great American Pastime, second only to IDOL.  Umps signal 2 outs this way.  And yes, this is the year for Da' Cubs.  Or next year, maybe.....

stocktivity's picture

"all these means of sustaining oneself in case of societal collapse will be patrolled by people with guns"


Idiots and their guns.  Society will never collaspe that far. Point your gun at someone and see how quick you're tossed in jail.

Lednbrass's picture

No doubt you are correct and government will always be there to protect you, it is certainly doing fantastically well and is very well funded these days. After all, its not like there are any historical examples of nations empires crashing to the ground at high velocity resulting in the destruction of its population and power structure.

Canucklehead's picture

You won't think they are prmitive skills if you need them.

If you are serious about this approach, go join the local 4-H club.  You will meet people who work together and are knowledgeable about the area you want to learn.

Buck Johnson's picture

This depression is getting worse and eventually we will know and see how insolvent our govt. is.

johnu1978's picture

The Depression is getting worse by the day!

Edible Plant Tours - Bowmaking Classes

Everybodys All American's picture

well you and your dnc could always rendition him.

Clay Hill's picture a hatter.

He probably inhaled too much mercury-laden smoke from those coal fired power plants while stopping to shit on the side of the road.

4realmoney's picture

Great video on why the threat of gold confiscation in the US is a complete marketing scheme:

Dr. Engali's picture

Bureaucracies and political class are all the same in my book.....corrupt non producers who try to control other people's lives to make up for some inadequacy in their lives.

Zero Govt's picture


Nobel Prize for the Dr.

Eireann go Brach's picture

I am shocked he has not being canned yet! Considering that CNBC is just a marketing station for Wall Street!

Zero Govt's picture

CNBC sent Ricky on a 'training course' after chopping up credit cards on-air telling President 'Mega-Debt' Bumma to stop spending

Ricky returned a bit sheepish for a week or two, then went back to his normal temper tantrums (always very entertaining ..anything is compared to Steve Liesman)

candyman's picture

With Europe taking the lead this is what we have coming to the US. Similar activity in Englend and NY. VIDEO FROM PARIS THAT HAS NOT BEEN SHOWN IN THE U.S.A. YET  
john39's picture

I have an idea... i know that the bankers have stolen everything and the economy is finished.... and the U.S. is about to start another freaking war...  but is scare the red state people with pictures of Muslims (gasp!), they will fall right back in line and do exactly what they are told.  /s

Lednbrass's picture

There are worse possibilities than that- tell the blue state inhabitants that gubmint checks wont keep rolling in and they have to actually do something useful in their lives because nobody is going to carry them any longer. As soon as the money stops rolling in from Uncle Sugar their cities will burn within a month.

Dr. Engali's picture

"see if our political class is going to do a better job than the European bureaucracies." 

It seems to me that our political class is doing a much better job at ramping up the police state. That's one thing they do well.





ghostfaceinvestah's picture

I don't know - I think the Brits are a step ahead of us on that front.  England is a real police state.

Buckaroo Banzai's picture

Well, more of a surveillance state/nanny state than a police state.

hardcleareye's picture

Look what Canada is doing.... 

"Major job cuts at the Canada Border Services Agency could undermine national security and public safety, according to the union that represents employees at the agency."

"A total of 1,137 border agency employees were notified on Wednesday that they could lose their jobs as part of a massive wave of federal budget cuts, according to the Public Service Alliance of Canada (PSAC)."

Now if we could only get the US to follow suit!

Lednbrass's picture

The Border Control types are one of the few Federal agencies that actually have the potential to do something useful if they actually had to do their jobs and cut the flow from Mexico. The rest of the Federral government could be hacked by a third without losing much.

bob_dabolina's picture

Santelli needs to be in our government somewhere.

I don't care where, just put him in there somewhere. We need some bastion of common sense to protect us from the people we elect.

Au Shucks's picture

Wait a second, you lost me.  who elects them again? 


And why do you suggest government is necessary for anything good or positive for the people?


has Bob been drinking with Bob?

bob_dabolina's picture

The best argument against democracy is a conversation with the average voter

-Winston Churchill

...yes, protection from the people we elect.

Imminent Collapse's picture

He gets paid for this?

Oh regional Indian's picture

That, immienet, is the glittering edge of the service industry. The motor mouth. 



Stoploss's picture

When i look at the faces of the pumpers on TV, i see heavy stress, lack of sleep, and confusion.

No need for vloume with pictures like that.

slewie the pi-rat's picture

i too prefer well-rested plumpers
much easier to turn

haskelslocal's picture

All this is like a man who lies to his wife. "I didn't have sex with that lady". None of it matters, the wife knows it happened but she cannot "prove" it. So she stays with the lie, sometimes for years. Eventually, she finds the matchbook in the suit pocket as she's doing His laundry and she just says, wheather she leaves or not, "I've had enough".

That's our economy and the monkey's running it. We've all been fucked kids. It's real wheather we can prove it or not. Now we're just sitting around conversing about it as if some form of denial will make it change. And it cannot.

q99x2's picture

2 or 3 months before we don't know.

Freewheelin Franklin's picture

I have a feeling Santelli will be at FBN, soon.

slewie the pi-rat's picture

global insolvency imminent?

L0L!!! immanent & transcendent, too, BiCheZ?


hardcleareye's picture

Slewie you're showning your age.....;)

"....And out the door I went.."

t0mmyBerg's picture

Its funny but I was just grabbing a sandwich at Subway here an hour or two ago and Santelli was coming in the door while I was leaving.  He kindly held the door and smiled as we exchanged pleasantries and I went out.  Had it been some muckety muck in Government coming in, I would have been brushed aside by Secret Service or pinned to the ground without so much as a by the by from the muckety muck.  Of course such a Muckety Muck would not have been going to Subway for anything so it never would have happened.  They would have been eating truffles and caviar on the taxpayers nickel in a suite on the top floor somewhere.  (Like when they closed the Kennedy Freeway [I-90, the main road into town] at 5pm on a weekday, snarling trafic for Hundreds of Thousands of people going about their business, so President Hu could use an fing motocade from OHare instead of being shuttled into town in an fing helicopter - brains?).  Sucks being outside the political elite.

brown_hornet's picture

They will toss him out of there too, if he tells too much truth. Just like Judge N.

Herdee's picture

And the insolvency of many Companies in America that have been destroyed by corrupt executives that used corrupt law firms to design their schemes is starting to be partially solved.Yes,going after law firms and the roles that they play in trying to wipe out American firms is now gaining traction.The PONZI destroying America takes many forms but IEAM (Industrial Enterprises of America)a small industrial firm stood up to one of the largest law firms in America.That law firm is Baker McKenzie.Soon thet pay up big and thir role will be revealed.What?You say has this got to do with the big story here?Lots.Law firms play an important role in developing these schemes to help destroy America.

evolutionx's picture
Facts about Poverty!


1)      47.8% of households that receive food stamps are working, because having a job is not enough to keep them out of poverty.

2)      The number of people on food stamps has increased by 20 million over the past five years. 

3)      10 million more Americans fallen below the poverty line since 2006.

4)      About half of all Americans are now either living in poverty or are considered to be low income.  So is America a "wealthy" nation?

5)      The number of children living in poverty in America keeps rising year after year. The %age of children living in poverty in the US increased from 16.9% in 2006 to nearly 22% in 2010.

Alcoholic Native American's picture

The poor in America are the suckers that have to work for a living, but on a positive note, this number is actually going down.