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Santelli Rants: "Ditch The Duct Tape; The Problem Is Insolvency"

Tyler Durden's picture


"What's the difference between the US and Europe?" 'About Six Years' is the punchline that CNBC's Rick Santelli ascribes the apparently magnanimous view that Europe is so much different from us. Between PIMCO's Kashkari pontificating on unsustainable debt (and the Fed's need to 'do something', and Liesman still defending the Fed with all his might, Santelli loses it - noting Kashkari's intelligence, he rhetorically asks "Do you really think [the Fed] is the solution?" - and rightly so. "It's all band-aids," he exclaims, adding that "the problem is insolvency." Speaking out loud what many are thinking, Rick blasts the hypocrisy of the Kashkaris of the world who opine on solutions (and band-aids) while missing the critical underlying problem - that no one is accountable. Between Reagan, 'unreal' spending cuts, compromised 'bad' resolutions, and the continuing ostrich economics in the US mainstream, Santelli tells it like it is - as hard as it is for the CNBC anchors to hear.


The action heats up around 3:30 but the whole thing is worthwhile for a summary of the unreality of spending cuts and borrowing largesse.


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Tue, 07/24/2012 - 12:19 | 2645786 Pladizow
Pladizow's picture

If duct tape doesnt work, you havnt used enough!

Tue, 07/24/2012 - 12:37 | 2645847 engineertheeconomy
engineertheeconomy's picture

printing paper money is the same as stealing money

making inorganic loans with interest is the same as stealing property

who the hell is in charge of arresting the criminals?

don't tell me they're at the coffee shop eating donuts again...

if they wont put the bad guys in jail, then we should put those people that refuse to put them in jail under citizen arrest and put them in jail

starting with the president and everyone on his cabinet

Tue, 07/24/2012 - 12:44 | 2645914 Precious
Precious's picture

The fed is out of bullets.  Chart has QE written all over it.  Nuff said.

Tue, 07/24/2012 - 12:56 | 2645980 Thomas
Thomas's picture

Santelli is dead right but he MUST hold it together better if he wants to make his point cogently. Siegel, on the other hand, is simply a boob. That is not an ad hominem attack; he is a boob.

Tue, 07/24/2012 - 13:13 | 2646043 Azannoth
Azannoth's picture

Rick is Fighting the Right Fight but also the Un-winnable Fight you just have to know when you lost, time to look past the Collapse not how to avert the inevitable

You have to KNOW your ENEMY, and that (primary) enemy are not big business(special interests) and politicians that enemy is US as in 200+ million people who think Big Government is Good

Tue, 07/24/2012 - 13:25 | 2646119 Comay Mierda
Comay Mierda's picture

Listen to these assclowns

Santelli is the only one with common sense

and CNBC wonders why their ratings are plummeting

Tue, 07/24/2012 - 13:44 | 2646183 Silver Bully
Silver Bully's picture

'You have to KNOW your ENEMY, and that (primary) enemy are not big business(special interests) and politicians that enemy is US as in 200+ million people who think Big Government is Good'

You, sir, are correct. The Republicrats and Demonicuns are only doing the will of the people . . . which is spend more money on and on behalf of their constiuents. If the real majority of this country wanted to cut spending, save money, use real money (gold), do this, do that, we would have done so many moons ago. There is no collective will to stop the insanity. This will continue until it cannot. meanwhile, hunker down, network with likeminded individuals, and prepare the best you can.

Tue, 07/24/2012 - 14:06 | 2646272 SemperFord
SemperFord's picture

I think the ENEMIES start from cops, their bosses, mayors, governors and so on as they will not enforce any laws on their group or higher ups. Until(if it ever happens) Americans start a civil war they will be bled to death financially and physically from the very people at the top and those who are there to "Serve and protect" them. 

Tue, 07/24/2012 - 14:34 | 2646383 Michael
Tue, 07/24/2012 - 16:38 | 2646953 Bananamerican
Bananamerican's picture

i see Cashcarry's head and i think "Spaulding"

Tue, 07/24/2012 - 23:23 | 2647939 Anusocracy
Anusocracy's picture

I agree. In an alpha-male social hierarchy, virtually all of the lower males are alpha-male wannabes.

Too many people wish they were in charge so they could 'fix everything'. They want to make people do things their way. Of course, that won't work either.


Tue, 07/24/2012 - 15:41 | 2646645 smlbizman
smlbizman's picture

thomas, i think they (cnbc) probably keep tight riens on him (opinions) and eventually he will today...if he is an honest man in his beliefs he will either eventually walk away or get canned...

Tue, 07/24/2012 - 13:13 | 2646057 Liquid Courage
Liquid Courage's picture

From Wikipedia:

"Each state, with the exception of North Carolina, permits citizen arrests if the commission of a felony is witnessed by the arresting citizen ..."

So, is it a felony to sit on your flabby ass and not do your job according to (presumably) an oath of office? well, we've all witnessed that nothing has been done, so if it's a felony, Citizens' Arrest might just fly, except: would the Judge do his/her job?

Tue, 07/24/2012 - 13:26 | 2646121 AnAnonymous
AnAnonymous's picture

In the US, guns are owned to fight off tyranny in the government.

Unjust application of law is tyranny.

US citizens have many guns.

US citizenism, on the edge of the abyss. Make or break time.

No worries though, US citizens will keep being what they are, US citizens. Therefore, their line of action is known. As is their propaganda, and fantasy.

Tue, 07/24/2012 - 13:45 | 2646184 Liquid Courage
Liquid Courage's picture

What's that noise I hear? It's like a buzzing ... there it is again ... now it's gone. Oh well, prolly nothing.

Tue, 07/24/2012 - 13:51 | 2646210 MillionDollarBoner_
MillionDollarBoner_'s picture

I think it was a low-flying Ass-Hat...

Tue, 07/24/2012 - 15:20 | 2646561 ATM
ATM's picture

A malarial mosquito.

Wed, 07/25/2012 - 11:44 | 2649520 akak
akak's picture

A stinking roadside turd containing the digested remains of dog meat and tiger penis. Make me laugh!

Wed, 08/15/2012 - 08:59 | 2706352 Offthebeach
Offthebeach's picture

It sounded more like a cheep counterfeit wheel bearing on a Yugo giving out on the Cross Bronx during a August afternoon rush hour.

Anyway, two words for the future, Feudal China.

Tue, 07/24/2012 - 17:41 | 2647243 Winston Churchill
Winston Churchill's picture

Add to that mix.

Private criminal prosecution.A right given in Magna Carta and enshrined in US law.

By coincidence ,fell out use in the US around the time of the creation of the Fed.

Still on the books.Upon conviction.The cost in prosecution and prison or whatever

punishment, must be borne by the state.

Still used commonly in the UK and throughout the Commonwealth when the authorities

refuse to prosecute.

Tue, 09/11/2012 - 15:22 | 2782789 boogerbently
boogerbently's picture

Printing money is the same as raising taxes.

Tue, 07/24/2012 - 12:32 | 2645854 SheepRevolution
SheepRevolution's picture

Oooohh I remember this bankster all to well:

"I don't think anyone questions, Mr. Kashkari, that you're working hard. Our question, is who are you working for?"


And here it is!

Tue, 07/24/2012 - 12:47 | 2645936 Stackers
Stackers's picture

Sick 'em Rick !!!

Tue, 07/24/2012 - 13:14 | 2646066 boogerbently
boogerbently's picture

Becky Quicks job seemed to be to talk over Rick so we couldn't hear the voice of reason.

It hasn't worked here, it hasn't worked in Europe, let's try some more.

Creating more debt to solve a debt problem.

Tue, 07/24/2012 - 13:25 | 2646118 JLee2027
JLee2027's picture

Becky Quick was talking?  

Tue, 07/24/2012 - 21:15 | 2647695 jerry_theking_lawler
jerry_theking_lawler's picture

yes, it was in a foreign language....known as progressive liberalism.....most TRUE americans could not understand the ramblings....


i'm ready for this whole thing to implode so i can see becky (suck a *ick) quick on mofos dot com....

Tue, 07/24/2012 - 12:45 | 2645906 ToNYC
ToNYC's picture

Rick for Umpire!

Gary Gensler the old Goldman struck out. When do they demand that he gets out of the box so we can play ball in the free market?

Rick for Umpire! stop the Vampires for Empire.
If Rick were nominated; the market would melt-up.

Wed, 07/25/2012 - 16:27 | 2650667 toncuz
toncuz's picture

Did Santelli ever call for bankers to be prosecuted and put injail? Does he ever blame the parasites standing behind him on that trading floor filled with leeches?

Santelli rants when its the average Joe getting bailed out...never his buddies in the business. Santelli is the worst of frauds.

Tue, 07/24/2012 - 12:20 | 2645790 orangedrinkandchips
orangedrinkandchips's picture

Chicken Wire, duct tape......a bobby pin.....



Tue, 07/24/2012 - 12:27 | 2645830 PiratePawpaw
PiratePawpaw's picture

So I should be long bailing wire and bubble gum?

Tue, 07/24/2012 - 13:42 | 2646176 potlatch
potlatch's picture

and a wet pack of old matches

Tue, 07/24/2012 - 12:21 | 2645798 john_connor
john_connor's picture

Liesman is a toolshed

Tue, 07/24/2012 - 12:32 | 2645850 Clueless Economist
Clueless Economist's picture

Actually he is kind of cute in a tubby, bald headed, sweaty way.

Tue, 07/24/2012 - 12:45 | 2645923 HoofHearted
HoofHearted's picture

Only to someone who has "tastes" like Krugman apparently has...not that there is anything wrong with that...

Tue, 07/24/2012 - 12:50 | 2645950 nevadan
nevadan's picture

A complete non sequiter when he said "if the Fed withdrew from the market rates would likely go down because the market is expecting help from the Fed".  A tool indeed, and not particularly sharp at that.

Tue, 07/24/2012 - 13:55 | 2646220 MachoMan
MachoMan's picture

actually, his comment was completely on point...  it wasn't a non sequitor...  however, it was completely false...  if the market makers remove themselves from the market, then I seriously doubt bond prices will continue to increase.  So if Liesman is correct, then it's the FED who is selling bonds and the market has an insatiable demand greater than supply...  Lulz.

You can also see that Liesman knows EXACTLY what he is doing because he made Rick's counterargument for him...  he knew what he was saying was bullshit...

Tue, 07/24/2012 - 16:00 | 2646728 nevadan
nevadan's picture

Liesman said in the absence of the Fed an argument could be made that interest rates would fall.  Then he turned around and said that in part this would happen because the market anticipates help from the Fed.  His premise that rates would fall without the Fed is opposed by the conclusion that rates would fall because the market anticipates Fed intervention.  The definition of a non sequiter is that the conclusion does not follow the premise.  Whatever you might call his statement it is clearly bullshit.

Wed, 07/25/2012 - 10:58 | 2649329 MachoMan
MachoMan's picture

I think we both need to spank ourselves for our spelling errors and leave it at that.

Wed, 07/25/2012 - 19:17 | 2651284 nevadan
nevadan's picture

lol.  Actually I used spell check and it accepted the "e" after I first used an "o" instead of a "u".  I realized the mistake later and thought I'd gotten away with it.   Consider me spanked.  :)

Tue, 07/24/2012 - 14:18 | 2646310 azzhatter
azzhatter's picture

Liesman is a journalism major who masquerades as a financial expert/economist. In fact, he's a ball licker and useful idiot for the propaganda machine at the FED and the treasury

Wed, 08/15/2012 - 09:34 | 2706455 Offthebeach
Offthebeach's picture

Journalism major. For those that can't handle the mental rigors of a English degree, nor the physical demands of a Parks and Recreation degree.

Tue, 07/24/2012 - 12:21 | 2645800 Meesohaawnee
Meesohaawnee's picture

why he doesnt distance himself from Clown-o-vision its beyond me. Only once of respect i have for financial comedy channel

Tue, 07/24/2012 - 15:32 | 2646604 DosZap
DosZap's picture

why he doesnt distance himself from Clown-o-vision its beyond me. Only once of respect i have for financial comedy channel

NO WAY.....................he is the only one telling the TRUTH.

You will not get it from anyone else on THAT MSM POS.

Tue, 07/24/2012 - 12:22 | 2645801 Missiondweller
Missiondweller's picture

Santelli: The only good thing on CNBC

Tue, 07/24/2012 - 12:42 | 2645910 eclectic syncretist
eclectic syncretist's picture

Yeah, but he either disregarded or doesn't know that since the money's all imaginary in the first place (and nobody knows that better than the Fed), if all other options fail and the whole system collapses entirely, the Fed would be perfectly happy to just forgive all debts and start the whole thing over again from the beginning.  New credit cards for everyone, more play money to finance wars, whatever you want.

Tue, 07/24/2012 - 13:22 | 2646109 pods
pods's picture

Absolutely true, but you left out the most important part of that scenario:

"The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again."

Josiah Stamp

Tue, 07/24/2012 - 12:56 | 2645976 Zeilschip
Zeilschip's picture

Buyer of Becky Quick myself...

Tue, 07/24/2012 - 14:34 | 2646385 otto skorzeny
otto skorzeny's picture

she's a pig smeared in makeup

Tue, 07/24/2012 - 13:28 | 2646135 AnAnonymous
AnAnonymous's picture

Santelli: The only good thing on CNBC

He just there for the ratings. For US citizens, the group is all and they want to see their opinion reflected in the media, US citizens hunt for that and are ready to pay big time for that.

Other grous of US citizens will find that another talking mouth is the only good thing on CNBC.

What matters is they are all US citizens. Rivalry among various US citizen clans can be very boring.

Tue, 07/24/2012 - 13:37 | 2646154 TheFourthStooge-ing
TheFourthStooge-ing's picture

Yes, sure, and how is that any different from Chinese citizenism citizens? No difference.

In Chinese citizenism, the hive is all, and they want to see their groupthink opinion monolizing the speeching means.

One Chinese citizenism talking mouth is like any other. What matters is that they are all throating the hivemind of Chinese citizenism, reinforcing the blobbing up, and cracking the coconuts algebraically.

Chinese citizenism clans, especially along the roadsides, leave quite a spectacle behind.

Tue, 07/24/2012 - 14:05 | 2646266 PiratePawpaw
PiratePawpaw's picture


"What matters is they are all US citizens. Rivalry among various US citizen clans can be very boring."

"anything coming from the mind of Chinese Citizenism Shitty City Citizen can and will be boring."

There, fixed it for ya.

Tue, 07/24/2012 - 15:23 | 2646571 ATM
ATM's picture

I really dig Kelly Evans.

Tue, 07/24/2012 - 17:11 | 2647138 orangedrinkandchips
orangedrinkandchips's picture

Oh she is something else...I agree...she just does it for damn cute


hypnotized by her

Tue, 07/24/2012 - 12:23 | 2645804 SheepRevolution
SheepRevolution's picture

Just as two vaginas aren't compatible, centrally planned solutions to economic problems have never been a good idea.

Tue, 07/24/2012 - 12:29 | 2645841 bnbdnb
bnbdnb's picture

Two vaginas are VERY compatible.

Tue, 07/24/2012 - 12:32 | 2645849 Taterboy
Taterboy's picture

Especially if I'm in the middle!

Tue, 07/24/2012 - 12:45 | 2645925 azzhatter
azzhatter's picture

kind of fun to watch

Tue, 07/24/2012 - 12:54 | 2645960 hannah
hannah's picture

oh yes...i have a video of rosie o'donnell and oprah winfrey stuff!

Tue, 07/24/2012 - 13:35 | 2646152 MsCreant
MsCreant's picture

Oh, that's the rock, paper, scissors, game. Who knew?

Tue, 07/24/2012 - 12:36 | 2645878 5880
5880's picture

they are to me

Tue, 07/24/2012 - 16:18 | 2646824 krispkritter
krispkritter's picture

Well we know you aren't working for the SEC because you aren't watching the right porn!

Tue, 07/24/2012 - 16:47 | 2647028 Offthebeach
Offthebeach's picture

That second vagina? ( It wasn't a vagina. )

Tue, 07/24/2012 - 12:25 | 2645816 LongBalls
LongBalls's picture

We are already over the cliff!! Truth.

Tue, 07/24/2012 - 12:46 | 2645928 gjp
gjp's picture

Six years difference between EU and US?  More like six weeks, or months, if we're lucky.  And the downfall will be greater here.  We're far more delusional.

Tue, 07/24/2012 - 13:20 | 2646092 Treeplanter
Treeplanter's picture

Maybe six quarters.   These guys are very good at buying time .  

Tue, 07/24/2012 - 13:49 | 2646205 Mad Mad Woman
Mad Mad Woman's picture

It's not going to be 6 months or 6 weeks. Once the SS Europe starts going down the US & others will only be a day or 2 behind. 

Tue, 07/24/2012 - 12:26 | 2645822 resurger
resurger's picture

Am skipping to WB7 point 17 in the comment cycle:

God Bless the Tylers & ZHers

fuck, i feel religious with so many benedictions

Tue, 07/24/2012 - 12:27 | 2645825 orangedrinkandchips
orangedrinkandchips's picture

FUCK, Im going downtown to get his autograph!


rock on....Becky is a fucking worthless cunt!



Tue, 07/24/2012 - 12:31 | 2645844 Taterboy
Taterboy's picture

Warren Buffett would disagree. She plays with his ducky in the tub in Omaha.

Tue, 07/24/2012 - 12:33 | 2645863 Clueless Economist
Clueless Economist's picture

and cleans his poop stools out of his bathtub.

Tue, 07/24/2012 - 13:15 | 2646073 Tippoo Sultan
Tippoo Sultan's picture

That floater was actually a Baby Ruth.

Tue, 07/24/2012 - 12:48 | 2645939 azzhatter
azzhatter's picture

Squicky is no match for Santelli. She just rambles on about a government solution as though the problem is now the solution. She is truly an ignorant piece of shit. Where is that jackoff Kernan this week? Blowing Immelt and Roberts I imagine.

And what exactly does Liesman add to anything? He's got Bernanke's pubic hairs in his teeth

Tue, 07/24/2012 - 13:08 | 2646035 ToNYC
ToNYC's picture


Jokerman  is in Paris wondering why nobody cares and avoids him. I can wait forever to hear how he was flushed home. If he plays July and takes Cramer with him, the Parisiens will take off both July and August.

Tue, 07/24/2012 - 13:25 | 2646116 orangedrinkandchips
orangedrinkandchips's picture

Becky is a monotone "repeater" in network terms....she just spews what is in front of her in a nasaly monotone way....


I just hope Kernan has the decency to give them a reach-around sandusky style!

Tue, 07/24/2012 - 14:37 | 2646390 otto skorzeny
otto skorzeny's picture

that little hebe sorkin is angling for a job at WH/GS(what's the difference?)

Tue, 07/24/2012 - 12:58 | 2645981 ToNYC
ToNYC's picture

Quickness redux...I'm sure her inhouse husband producer knows that was her most vicious since she bared her rat teeth on Patrick Byrne's backside when he complained about being a short sale target. Buffett can't afford to lose his mouthpiece; but she is indeed worth less than she thinks.

Tue, 07/24/2012 - 13:31 | 2646148 Treeplanter
Treeplanter's picture

Don't be so hard on Becky.  She has a nice smile.   We don't expect here to have a clue, anyway.  What other network is watched (or left gn for periodic glances) on Mute?  Someone should invent an app that alerts  us when Rick is about to speak. 

Tue, 07/24/2012 - 17:01 | 2647103 Chain Gun Smoke
Chain Gun Smoke's picture

Eww is your avatar back boobs? DaFuq is wrong wit u?

Tue, 07/24/2012 - 12:32 | 2645826 LMAOLORI
LMAOLORI's picture



Treasuries Doomsday Is Four Years Away For Vanguard


Vanguard Group Inc., whose $148.2 billion of Treasuries makes it the largest private owner ofU.S. debt, says the nation has until 2016 to contain its borrowings before bond investors revolt and drive up interest rates.

“In the absence of a long-term credible plan, we are somewhere around four years away on where the markets are going to say ‘enough is enough,’” said Robert Auwaerter, head of theValley Forge, Pennsylvania-based Vanguard’s fixed-income group since 2003 and who this year was inducted into the Fixed Income Analysts Society Inc.’s Hall of Fame.


U.S. Public-Pension Shortfall $4.6 Trillion, Group Says



Tue, 07/24/2012 - 12:33 | 2645858 Jason T
Jason T's picture

they must follow Martin Armstrong who has it all figured out.  

Tue, 07/24/2012 - 13:22 | 2646108 lemonobrien
lemonobrien's picture

he's talking 2017 for gold and third party interest in 2016; his point about property taxes rising is the main reason i don't buy land or homes. when the shit really starts hitting the fan; property taxes will look very very attractive, and if you can't pay; they can sell it.

Tue, 07/24/2012 - 13:40 | 2646167 MsCreant
MsCreant's picture

I don't get this. If they raise house taxes so high no one can pay, and they take all the houses, then what? House valuses go down and so do taxes. 

Does not make sense.

Tue, 07/24/2012 - 13:59 | 2646238 MillionDollarBoner_
MillionDollarBoner_'s picture

They lend you the money...

To buy the house...

So you have something to lose if you don't play ball...

Then they screw up the rates...

And flush out your wealth...

Til you can no longer meet payments...

So they take the house...

Sell it to their buddies for less than NAV...

And hand you the balance as interest bearing debt...

Then rent the house back to you...

Gettin it?!? ;o)

Tue, 07/24/2012 - 14:11 | 2646283 chubbar
chubbar's picture

That's a good scenario but don't forget the "buddies" still have to pay the taxes when they takeover the house. If the people can't afford the rent, which has to amortize the purchase price, taxes and profit then everyone is still homeless (and pissed). I don't think it'll play out that way, as much as I agree that would be ideal from the bankers perspective.

Tue, 07/24/2012 - 16:56 | 2647074 Offthebeach
Offthebeach's picture

It's a death spiral, already played out in Detroit, Buffalo and a thound cities and soon states.

Tue, 07/24/2012 - 16:44 | 2646990 ToNYC
ToNYC's picture

Tumbleweed down Main Street is the end game playbook whose prosecution and execution is "Ghost Town, USA".

United Taxpayers of America went away looking for 80 square feet and a mobile phone...FEMA says is just temporary until they clean up the prisons for the overflow looking for free rent. I hear the wireless is pretty good and they let you share the games. Get down with that.

Wed, 07/25/2012 - 07:48 | 2648394 i-dog
i-dog's picture


"and they take all the houses, then what?"

Think about it, MsC! No house = work camp (actually, inner-city tower block with intensive surveillance and a nearby "job" to earn your food ration). Think "Chinese ghost [for now] cities" - ie. with almost nobody left in the countryside or suburbia, where they are difficult to monitor and control.

Look up "Agenda 21" (their Agenda for our 21st century) ;)

Tue, 07/24/2012 - 12:27 | 2645834 libertus
libertus's picture

Kneel Cash Carry is public enemy #1. That asshole managed TARP and worked at the Treasury during 2008. Fuck him!

Tue, 07/24/2012 - 12:52 | 2645961 Antifaschistische
Antifaschistische's picture

"Kneel Cash Carry" is PAID to protect PIMCO's portfolio.  His opinions have nothing to do with fiscal responsibility or sound economic's ALL about PIMCO's port!!

Tue, 07/24/2012 - 13:07 | 2646027 Dr. No
Dr. No's picture

Kashkari was the Auto Czar (whatever that is) in charge of divying up GM/Chrysler, so he is no stranger to government bottomless pit bailout mentality.

Tue, 07/24/2012 - 13:19 | 2646091 Everybodys All ...
Everybodys All American's picture

I almost forgot that. Thanks for the reminder that his head belongs on one of the deck of cards.

Tue, 07/24/2012 - 14:00 | 2646243 MillionDollarBoner_
MillionDollarBoner_'s picture

His head belongs on a spike outside the city gates...

Tue, 07/24/2012 - 13:20 | 2646094 ToNYC
ToNYC's picture

The natives who discovered him walking around after his TARP performance would demand giving him an extra one inch off haircut for starters.

Tue, 07/24/2012 - 13:43 | 2646177 MsCreant
MsCreant's picture

Read an interview with him regarding the TARP. Him and Hank were making shit up on the fly. They pulled the number out of their ass. That they did it and congress let them is surreal.

Tue, 07/24/2012 - 12:30 | 2645843 Missiondweller
Missiondweller's picture

What Santelli was getting at is that twice we've had agreements to raise taxes in exchange for lower spending. BOTH times we got the tax increase and HIGHER spending not lower spending.


It happened first, under Reagan then a second time under Bush Sr. Congress has no credibility when it comes to cutting spending. Santelli is right. You couldn't trust them even if they agreed to Bowles Simpson.

Tue, 07/24/2012 - 12:39 | 2645890 LMAOLORI
LMAOLORI's picture


Exactly and on student loans


Student Loan Bankruptcy Forgiveness


Tue, 07/24/2012 - 12:47 | 2645937 Winston of Oceania
Winston of Oceania's picture

There is no difference between left and right, only distraction while your Liberty is quietly stolen away.


"It's not left against right, it's You against the State" Ludwig von Mises

Tue, 07/24/2012 - 13:42 | 2646174 Treeplanter
Treeplanter's picture

Alert Big Sis!  You are clearly a hostage taker and a Tea Party terrorist.  Santelli is a Nazi raaacist capitalist pig.  Someone should check his emails.

Tue, 07/24/2012 - 13:44 | 2646181 MsCreant
MsCreant's picture

Glad someone said this.

Tue, 07/24/2012 - 15:06 | 2646513 LongBalls
LongBalls's picture

They CAN'T Cut. If they even try it all comes down.

Wed, 07/25/2012 - 07:38 | 2648372 i-dog
i-dog's picture

Bullshit!! They can cut plenty ... they just don't want to cut themselves!

The reason the debts have grown so large is because they keep expanding the size of government (just yesterday I saw a figure of 14,000 intra-state government agencies!) and expanding the size of government wealth transfers (not only from taxpayers, but also from 3rd-world creditors to first-world debtors) to boost selected bubbles within the economy (eg. housing, auto and fuel/agriculture subsidies).

If they DON'T cut, it all comes down. The real issue is that nobody wants to cut NOW ... everybody -- in government AND in the population -- wants to let the NEXT generation do the cutting!! Well, we're not going to make it that far....

Wed, 07/25/2012 - 07:44 | 2648390 Ghordius
Ghordius's picture

+1, i-dog. Nobody talks about the size of government spending. If you tax 20% of GDP, what is the sustainable expenditure percentage you can have? Eventually, you have "austerity", but please not now, and please, please, pleaseeeeeeeeee not me.

Tue, 07/24/2012 - 12:31 | 2645846 Jason T
Jason T's picture

oh god Jeremy Seigal .. a total shill 

Tue, 07/24/2012 - 13:08 | 2646037 azzhatter
azzhatter's picture

isn't he dead yet

Tue, 07/24/2012 - 12:31 | 2645848 LoneStarHog
LoneStarHog's picture

Would somebody please Duct Tape the friggin' doors shut on that shit-filled studio; preferably with them inside?

Tue, 07/24/2012 - 13:45 | 2646191 MsCreant
MsCreant's picture

While it would be handy if the studio had a flush function, I think installing one for the house and the senate would be a more beneficial move.

Tue, 07/24/2012 - 12:34 | 2645870 Benjamin Glutton
Benjamin Glutton's picture

more shilling for W/S and GOP/Romney...this clown will never get the brown off of his clown nose until I hear him call W/S un-indicted criminals while blaming homeowners. POS all of them.

Tue, 07/24/2012 - 12:45 | 2645922 RiotActing
RiotActing's picture

Finally someone with some reason. Fuck this POS Santelli.

Tue, 07/24/2012 - 13:25 | 2646120 Everybodys All ...
Everybodys All American's picture

Oh I see ... the DNC is here.

Tue, 07/24/2012 - 13:46 | 2646189 Benjamin Glutton
Benjamin Glutton's picture

IDK about riot but I am registered GOP and would add, as an American, that I am ashamed of the Bush regime and the Dem failure to REVERSE course. No thinking person could believe at this point that there is a dimes worth of difference between these parties.



Tue, 07/24/2012 - 14:05 | 2646268 RiotActing
RiotActing's picture

Only fucking idiots vote these days.... fuck them all, both sides need to burn.

Tue, 07/24/2012 - 12:35 | 2645873 It is a bargin ...
It is a bargin my friend's picture

If you remember Thunderbirds you'll know Stingray, that Pimco guy was in it

Tue, 07/24/2012 - 12:37 | 2645882 libertus
libertus's picture

Becky Quick is such an idiot. I don't need to insult her intelligence. She does that herself everytime her mouth opens. 

Tue, 07/24/2012 - 14:06 | 2646274 MachoMan
MachoMan's picture

She appeared to know exactly what santelli was saying...  but she played her cards better than sorkin did...  the motherfucker couldn't even keep a straight face when he was responding to rick...  he knows he's full of shit...  she's just better at playing cards.

Tue, 07/24/2012 - 21:20 | 2647705 jerry_theking_lawler
jerry_theking_lawler's picture

except when she opens it to insert W Buffet's member.....

Tue, 07/24/2012 - 12:37 | 2645885 MillionDollarBoner_
MillionDollarBoner_'s picture

Methinks they will be taking the duct tape to Rick soon...

Tue, 07/24/2012 - 12:38 | 2645888 orangedrinkandchips
orangedrinkandchips's picture

It is clear.

We all see the same game, albeit from different sections and seats.

We all see the global soccer match.

We have some very smart people in the stands......yet......nobody can really solve the problem.


Classic Pink Elephant in the room....we all see it but nobody wants to admit.....


Kinda like when Grandma gets out of a chair and rips a huge fart that instantly clears the crowded room....Grandma has no clue she farted and it's never really mentioned since it's obvious....


Santelli is crying uncle due to the smell......



Tue, 07/24/2012 - 12:45 | 2645921 resurger
resurger's picture

i have called one of the recruting agencies for a job opening, i have told him that i have ABCD qualifications , guess what the investment hedge fund wants ...

an ivy leaguer.......

why i wasnt born a jew!

Tue, 07/24/2012 - 13:26 | 2646123 lemonobrien
lemonobrien's picture

i worked with ivy leaguers; they are the reason this country is fucked; and the reason i buy gold. which is a put against the leadership.

Tue, 07/24/2012 - 12:59 | 2645997 White.Star.Line
White.Star.Line's picture

There ARE solutions for this "global soccer match".

It is not complicated once you see that:

The ball is flat
The players are fat, overpaid and unmotivated.
The referees are bought, and look the other way.
The stadiums are crumbling and out of beer.
The fans are asleep or staring at their iPhones.

Even I can see from the stands that it is time to cancel the season tickets!

Tue, 07/24/2012 - 12:40 | 2645894 web bot
web bot's picture

God bless this man. He should be beatified and canonized a Saint for speaking the truth.

Tue, 07/24/2012 - 13:19 | 2646077 crawldaddy
crawldaddy's picture

what truth, only truth he was spewing was the fact that he doesnt want to pay his fair share in taxes.  Fuck him.  The top .01% are the problem.  21 trillion hidden in off shore tax havens.  Find it and tax the shit out of it.

Tue, 07/24/2012 - 13:50 | 2646207 MsCreant
MsCreant's picture

Do you really think that would pay the debt off and solve the problem of a declining economy? 

Tue, 07/24/2012 - 15:16 | 2646550 jayman21
jayman21's picture

Depends if it is real capital that is being hoarded.  What do you think?  Tax the shit out of it?  There is a great idea.  Give more to the people who continue to show us how to destroy capital.

Tue, 07/24/2012 - 12:41 | 2645897 Marley
Marley's picture

It's Duck Tape.

Tue, 07/24/2012 - 12:40 | 2645899 monopoly
monopoly's picture

How can you not love Santelli. And I am amazed that the idots who program the constant trash that we see allow the truth to come out, even if only for 5 minutes. 

Tue, 07/24/2012 - 13:21 | 2646096 crawldaddy
crawldaddy's picture

what truth, that santelli is a fucking dickhead? He doesnt want to pay taxes, thats all he was crying about.

Tue, 07/24/2012 - 13:52 | 2646213 MsCreant
MsCreant's picture

You sound like a one trick pony here. Do you have anything else to say besides "Santelli does not want to pay his taxes?" I heard so much more than that.

Tue, 07/24/2012 - 12:41 | 2645900 bagehot99
bagehot99's picture

The chick shows touching faith in the never-before-seen ability of congress to actually cut spending. The BEST they have ever done is slow the rate of increase.

She doesn't know what he's talking about, like every other liberal. She thinks if Republicans and Democrats can sign a piece of paper it will all be OK. Notwithstanding all the data, and everyday experiential information pointing to a horrible economy that crashed because of too much debt, which the policymakers and central bank are trying to revive with......MORE DEBT.

To call it insanity is the understatement of the fucking century.

Tue, 07/24/2012 - 15:09 | 2646522 1eyedman
1eyedman's picture sound like there is a difference between the political parties.  those who get out on the stump and claim dems or repubs are better or worse are those who are most brainwashed....there is no difference, there is only the Fed.   fed chairmen go through both parties and both parties have experts who are 'educated' by the same people at the same schools in the same singular economic theory


Tue, 07/24/2012 - 12:41 | 2645901 lunaticfringe
lunaticfringe's picture

I like Santelli. The only fucker on CNBC that doesn't sound like a corporate parrot. But sometimes, he says some pretty strange shit. He did that today on the Santelli segment (at the end)

Never talk faster than you can think.

Tue, 07/24/2012 - 12:42 | 2645902 Quinvarius
Quinvarius's picture

QE is the cure for insolvency. The more this bad debt piles up, the more they have to buy. Either that or the whole system implodes. I am waiting for them to start buying all those derivatives out there. That is going to be a real hoot. I think we all know that is where the real problem is. When there is nothing left to buy but the derivatives, the whole world will understand what kind of gambler's shit show really caused this mess.

Tue, 07/24/2012 - 12:51 | 2645952 engineertheeconomy
engineertheeconomy's picture

the difference between us and them is that they will be holding Quintillions of (albeit devalued) dollars and titles to all of our homes, and we will be left holding the bag working at Mc Donalds and paying 928% interest to borrow their money. That is IF we don't stop this thing TODAY

Tue, 07/24/2012 - 12:57 | 2645982 Quinvarius
Quinvarius's picture

You should probably operate as if that is the plan.

Tue, 07/24/2012 - 12:45 | 2645904 buzzsaw99
buzzsaw99's picture

Until santelli says "abolish the criminal fed" on the air he has zero credibility with me.

Tue, 07/24/2012 - 12:59 | 2645979 engineertheeconomy
engineertheeconomy's picture

Excellent point!

Any person that does not agree that the Fed is criminal and should be put in prison is  a CRIMINAL BY DEFAULT THEMSELVES and should  imprisoned.

Tue, 07/24/2012 - 13:05 | 2646020 dwdollar
dwdollar's picture

Until he leaves CNBC, he has zero credibility with me.

Tue, 07/24/2012 - 13:58 | 2646235 MsCreant
MsCreant's picture

I want to agree with ya buzz. It could be he is just a shill who is allowed to say what he says so that our segment of the population can "feel like we have a voice" thus "letting off steam."

The thing is, he is in there saying the stuff he is saying and there have to be people out there that never would get to a website like ZH that benefit from thinking about what he does say. Could be that he gets to say what he says because he does not go "too far." 

I wonder if we won't see it out of him soon any way. More and more people are saying it out loud. Soon, with enough numbers, it becomes a legitimate point of view and it is safer to say it...then do it!

To say this shorter, you are too harsh.

But then again, you are a mutant babyhead commin' out someone's chest, named buzzsaw99 so I suppose we do need to make some allowances.

Tue, 07/24/2012 - 12:42 | 2645907 Zen Bernanke
Zen Bernanke's picture

America!  Hell ya! 

Tue, 07/24/2012 - 12:42 | 2645909 HedgeOn
HedgeOn's picture

Jeremy Siegel: now that's a joke. stocks for the long run? please. every investment has context.  you don't buy bonds when rates are going up and you don't buy stocks when the world is deleveraging.  global ppt's have kept equity markets afloat for the past several years.  i do think liesman is right regarding yields on treasuries. the fed acted to thwart a depression in 2009 with qe.  it created inflation in stocks, oil & food.  left to its natural tendency, i believe prices would have fallen precipitously as would yields along the entire treasury curve.  like it or not, i think we converge lower, not necressarily jgb low, but easily 1.0% on the 10 year (and not necessarily in a straight line). that said, i would have perferred austrian economics over the past 4 years to save my kids from paying back the money into this keynesian black hole.  

Tue, 07/24/2012 - 12:49 | 2645945 curbyourrisk
curbyourrisk's picture

Global PPT is the same as the US PPT.


We are keeping everyone up.  

Tue, 07/24/2012 - 13:28 | 2646132 lemonobrien
lemonobrien's picture

stay hard.....


stay strong....




Tue, 07/24/2012 - 12:43 | 2645915 piceridu
piceridu's picture

Say what you want about Santelli...he has balls.

Tue, 07/24/2012 - 12:44 | 2645918 haskelslocal
haskelslocal's picture

What is it with this clown show! Each one of them ALWAYS has to be RIGHT! That bitch Becky... Just tossing things at the wall trying to get Santelli to agree with her. WTF is that? Why does he have to agree with you Becky? Fuck you!

And what about LiesMan? Laughing at Santelli when he said he was done. Well look bitch, he was done! He was giving you the floor! But no, you've got to smirk and giggle and act like a bitch and yeah, you are a senstitive troll. Who on God's Green Earth listens to this guy? What service does he provide the people? Oh yeah, that's right. He serves the advertisers and that's all and why CNBC is a worthless empty hole.

I'm no huge fan of Santelli but one need not be a fan if we could all just use some common sense. That's a rant? No. It's a man recongizing BEYOND the obvious and trying to get the brainwashed idiots to listen to what it is that they already know for themselves. But avoid. Because the pain will hurt.

Tue, 07/24/2012 - 12:44 | 2645919 RiotActing
RiotActing's picture

You people actually think this fuck gives a shit about you? You think he's giving it to you straight on a network like CNBC? You people are so fucking stupid.

"Yeah Rick Santelli, the guy in the $3,000 suit cares about us!"

"He's so awesome, I'm sure he has no financial gain in what he saying on TV, none at all"

"He's giving it to us straight on an honest network!"

"No way they would be manipulating our asses"

Fucking dummies...

Tue, 07/24/2012 - 12:48 | 2645940 SheepDog-One
SheepDog-One's picture

I see, so youre saying duct tape IS the right answer then?

Tue, 07/24/2012 - 13:03 | 2646015 Benjamin Glutton
Benjamin Glutton's picture

Wake me up when The Great Santelli says we should cut military spending by 50% and pay restitution to all those harmed by Fed Res housing bubble and W/S criminality.


Now there is a worthy QE3.



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