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Santelli On "Why Money Is Important" And A Trillion Is A Big Number

Tyler Durden's picture




 

Fresh from his vacation with Mickey and Minnie, CNBC's Rick Santelli is back and mind-blown at the total cognitive dissonance of the fact that we just broke through $16tn debt. The relaxed Chicagoan summarizes, in words and tables that any Disney-princess-loving 6 year old girl could comprehend, why "a trillion is a big number" and while not dissing the first lady's speech, he notes that unlike her "money's not important to Barack" comment, when the number gets this big, it better matter to someone.

 

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Wed, 09/05/2012 - 13:51 | 2765104 BaBaBouy
BaBaBouy's picture

Trillion Pocket Change

Wed, 09/05/2012 - 13:55 | 2765126 MillionDollarBonus_
MillionDollarBonus_'s picture

We needed to bail out the banks, and that was unfortunate. But now is the time to make up for the past by letting a small group of smart, trustworthy regulators to override the decisions of management. Consumers are not capable of, or responsible for, assessing which financial institutions to trust, so they need the government to do it for them. The government represents the will of the people by forcing them to comply with regulations. Under this system, risk is elminated and we cannot make bad choices because every decision is validated by the infallible moral judgement of the government regulators.  

Wed, 09/05/2012 - 13:57 | 2765140 Cognitive Dissonance
Cognitive Dissonance's picture

"trustworthy regulators"

Sorta like "military intelligence".....right?

I love MDB's performance art.

Wed, 09/05/2012 - 14:01 | 2765173 BaBaBouy
BaBaBouy's picture

LOL ...

 

""" Under this system, risk is elminated and we cannot make bad choices because every decision is validated by the infallible moral judgement of the government regulators. ""

 

LOL ... HAHAHAHAHAHAHAHA ...

Wed, 09/05/2012 - 14:05 | 2765197 nope-1004
nope-1004's picture

A billion minutes ago Jesus walked the earth.

A billion dollars ago at our present clip was 8 hours ago.

MONEY IS WORTHLESS, and Mrs. Odummer is correct - It doesn't matter, it's not worth anything.

 

Wed, 09/05/2012 - 14:14 | 2765241 economics9698
economics9698's picture

MDB did good today.

Wed, 09/05/2012 - 14:28 | 2765311 Ahmeexnal
Ahmeexnal's picture

Enter the SOUTH AFRICAN SPRING.

SA protesters have decreed the gold mines MUST BE CLOSED by tomorrow. Failure to shutdown the mines will result in death to mine managers:

http://mg.co.za/article/2012-09-05-miners-threaten-to-kill-lonmin-manage...

 

The threat was made by representatives of hundreds of protesting workers who marched to Lonmin's Karee mine, from Marikana on Wednesday.

The five representatives told manager Jan Thiroun that management had Wednesday and Thursday to close the mine's K3 shaft or they would end up dead and the mine would be burnt down. The shaft is where most of the mine's operations take place.

GOT PHYZZ?

Wed, 09/05/2012 - 14:28 | 2765319 Precious
Precious's picture

The only people who seem to protest loudly are the fools who still have some skin in this racket.

Wed, 09/05/2012 - 14:53 | 2765407 JPM Hater001
JPM Hater001's picture

Nigel and Rick should have a baby...

Wed, 09/05/2012 - 15:19 | 2765495 Element
Element's picture

Rick, you forgot one thing.

To show how many trillion in Nov 2008, and how many trillion it'll be in Nov 2012.

That might be an important number too ... maybe next week

Wed, 09/05/2012 - 15:22 | 2765509 Kitler
Kitler's picture

The gold mine owned by Nelson Mandela's grandson and President Zuma's nephew is also in the news for the shootings of 4 miners.

http://www.independent.co.uk/news/world/africa/now-four-miners-are-shot-...

Looks like the new boss is the same as the old boss.

Thu, 09/06/2012 - 03:22 | 2767260 Sparky_ZA
Sparky_ZA's picture

I am from South Africa

We just doing our bit to correct the price of PM's.

Probably find the mines are nationalised soon. All depends on who is voted in next. 

I was stacking until aliens came and took it away for there atmosphere.

Wed, 09/05/2012 - 15:17 | 2765484 Zero Govt
Zero Govt's picture

MDB has his knickers in a twist. The banks "did bad" so we need to trust the perfect judgement of Regulators. Where was the perfect judgement of Regulators while the banks were piling on leverage, risk and debt? 

Earlier MDB approved of bankers getting their foot in the door of political decisions. That's the exact same bankers that "did bad"

I'd question MDB's judgement but he clearly hasn't any

Wed, 09/05/2012 - 20:34 | 2766494 DumFarmer
DumFarmer's picture

Hook, line and sinker.......MDB outs another newbie. Or is it a lack of sense of humor...

Wed, 09/05/2012 - 21:24 | 2766621 EINSILVERGUY
EINSILVERGUY's picture

This is like the early scene in Shawshank redemption when the cons bet on which of the newbies is going to star crying first

Wed, 09/05/2012 - 14:07 | 2765209 Muppet of the U...
Muppet of the Universe's picture

I get 1 day to cut up.  So I JUST DONT GIVE A FUCKING SHIT ABOUT FORMALITIES, bitches.

http://www.youtube.com/watch?v=eX9UurI-nR8&feature=BFa&list=PL1766AE15B0...

^  Sup now?  Brass Tax taking names and faces, with pocket aces.

Wed, 09/05/2012 - 15:50 | 2765595 Chuck Walla
Chuck Walla's picture

love MDB's performance art.

He keeps forgetting the /sarc.

 

FORWARD SOVIET!

Wed, 09/05/2012 - 19:38 | 2766295 The Alarmist
The Alarmist's picture

"I love MDB's performance art."

Like a crucifix in a jar of urine, MDB leaves a steaming pile on a stack of crisp C-Notes.

Wed, 09/05/2012 - 13:58 | 2765142 Pladizow
Pladizow's picture

YAWN.

Wed, 09/05/2012 - 13:58 | 2765143 BaBaBouy
BaBaBouy's picture

Trillion USD Fiat Is Pocket Change, when the ACTUAL Debt
and Liabilities could be up to $200 Trillion according to many...

GOLD $50K...

Wed, 09/05/2012 - 14:02 | 2765185 Dr. Richard Head
Dr. Richard Head's picture

Looks like at this rate ($3,401,360,544/day in new debt) our Federal Government will hit the debt ceiling around December 19, 2012. Repulibcan "conservatives" and Democrat "liberals" will, yet again (as Obama and Ryan and Biden has shown through their voting history) extend the debt ceiling with no cuts. USA! USA! USA!

Wed, 09/05/2012 - 13:59 | 2765154 sm0k4
sm0k4's picture

I must admit, you are getting to be a pretty good troll.

Wed, 09/05/2012 - 14:11 | 2765219 lasvegaspersona
lasvegaspersona's picture

did the USG get the Vatican to lend it some of its infallability?

Wed, 09/05/2012 - 14:12 | 2765230 Xibalba
Xibalba's picture

what the hell are you talking about?!?!

Wed, 09/05/2012 - 15:08 | 2765459 BeetleBailey
BeetleBailey's picture

Fuck You douchebag MDB....period.

Wed, 09/05/2012 - 16:38 | 2765737 Random_Robert
Random_Robert's picture

Who on Earth would dare to junk MDB for such poetic wisdom...?

 

"infallible moral judgement" and "government regulators" in the same sentence...?

c'mon, who else but MDB could have pulled that off? 

 

It's like aligning the postive poles on two magnets and somehow still managing to get them to stick together. 

 

It's almost God-like.

Wed, 09/05/2012 - 17:33 | 2765875 Slightly Insane
Slightly Insane's picture

You are wrong on every part:

a) we needed to bail out the banks (wrong) - let the losers die, criminals go to jail

b) trustworthy regulators (wrong) - ineptocrats taking bribes (election contributions)and picking winners over losers

c)Consumers not capable for assesing which financial institutions to trust (dead wrong .... are you just stupid?)

d)"they need government to do it for them" - wrong - Consumers are far wiser then regulators, they make decisions based upon their own interests

e) "The Government represents the will of the people" - are you kidding me or just stupid?  (Look at popularity of congress)  Why do you suppose some idiot would spend $10 million dollars or allot more  for a position that pays a $160 grand per year .... unless it gave them an opportunity to rob the public, all under the guise of being "legal".  You're dealing with psychopaths here.

f) risk is eliminated - wrong again (you raise the risk in the system anytime one uses "central planning" as the "few" cannot possibly understand all the unintended consequences - hence just how do you suppose we got here with credit default swaps, home ownership bubble, dollar devaluation ecetera  (these are all policies designed by central planners to run the market in a direction opposite of natural forces).

g) "infallible moral judgement of government regulators" - now I know you are either a communist, socialist, or just a brainwashed government shill.

you are a government shill.  Are you paid by the government to make these comments?  Are you one of these "intellectual" idiots at a university, who is supported by my tax dollars for something I would not hire a person to do?

Wed, 09/05/2012 - 20:36 | 2766499 Overfed
Overfed's picture

That was some funny shit there!

Wed, 09/05/2012 - 20:48 | 2766522 Mentaliusanything
Mentaliusanything's picture

Come on now MDB is expressing "Eloquent Sarcasm"

Vote 1 MDB ....he cuts to the bone

He is my daily laugh and not the same planet as that other Wanker - Robo Troll (where is that smug fuck any way...... banned by his Mum from posting I guess)

Thu, 09/06/2012 - 00:48 | 2767030 Shizzmoney
Shizzmoney's picture

We needed to bail out the banks, and that was unfortunate.

"We needed to bail out the people, and that was unfortunate."

What is "Things you will never hear from a Statist Liberal"?

I'll take: "Hypocritical Liberals", for $800, Alex Trebek.

Wed, 09/05/2012 - 13:59 | 2765159 madcows
madcows's picture

Press Cntl P enough times and it will be.

Wed, 09/05/2012 - 14:30 | 2765325 Dr. No
Dr. No's picture

No.  They need a script to run that.  Pressing CntlP a trillion times would break the finger, keyboard, and countless printers...Trillon is just too big for a mechanical device to handle.

Wed, 09/05/2012 - 15:41 | 2765564 francis_the_won...
francis_the_wonder_hamster's picture

Pocket Change You Can Believe In.

Wed, 09/05/2012 - 14:22 | 2765108 Bastiat009
Bastiat009's picture

Santelli cannot be right and he is annoying because he doesn't worship Barack and Michelle the most wonderful parents and the two best Chicago lawyers ever therefore a $16T debt is good.

Wed, 09/05/2012 - 14:24 | 2765287 Bastiat009
Bastiat009's picture

I see that a majority of readers worship the Obamas too. I like Santelli better.

Wed, 09/05/2012 - 18:52 | 2766132 Whiner
Whiner's picture

Good parents don't lose their law licenses. Father doesn't have hiested SS Card and forge Draft Card.

Wed, 09/05/2012 - 13:53 | 2765112 Cdad
Cdad's picture

So...if I follow...a trillion is a large number....and following that discovery....16 trillion is...bigger?

Wed, 09/05/2012 - 14:12 | 2765233 blunderdog
blunderdog's picture

Yeah, it's like...a HUNDRED times bigger!

Wed, 09/05/2012 - 14:14 | 2765243 nope-1004
nope-1004's picture

lol, +16

Wed, 09/05/2012 - 14:42 | 2765365 Nothing To See Here
Nothing To See Here's picture

It'll be like 911 times 100.

Omg, that's... yes... 91,100.

Wed, 09/05/2012 - 14:53 | 2765408 The Continental
The Continental's picture

AMERICA!!!!  FUCK YEAH!!!!

Wed, 09/05/2012 - 14:36 | 2765349 slewie the pi-rat
slewie the pi-rat's picture

 <--< YES

 <--< NO

slewie opinion poll:  should US Mint-produced gold and silver coinage be restored as LEGAL TENDER in the US as per the US Constitution and not subject to the fuking "collectibles" and OTHER TAXES?

yes or no? VOTE!

...please...  L0L!!!

Wed, 09/05/2012 - 13:53 | 2765114 Temporalist
Temporalist's picture

Speaking of digital currency:

Bitcoin theft causes Bitfloor exchange to go offline

"One of the biggest Bitcoin currency exchanges has been taken offline after 24,000 units ($250,000; £157,800) of the virtual currency were stolen from its computer servers."

http://www.bbc.com/news/technology-19486695#sa-ns_mchannel=rss&ns_source...

 

Wed, 09/05/2012 - 14:05 | 2765207 Pladizow
Pladizow's picture

Stick with GOLD & SILVER!!!!!!!!!!!!!!!!!!!!!!!!

Wed, 09/05/2012 - 16:23 | 2765700 baltar
baltar's picture

 

Bitfloor just left their Bitcoin laying around on the floor basically, if you did that with gold or silver someone would take it from you as well.

Gold and Silver are great, but I can't pay my programmers in Jakarta with it, with Bitcoin in a few minutes my programmers know that I've paid them and they are happy, no stupid paypal, no wires, no banks.

Sure Bitcoin has it's issues, everything does, one thing that will fix a lot of these thefts is the new feature that requires multiple signatures for transfers of Bitcoins, of course you have to implement it, so who knows if people like this will.

 

 

 

 

 

Wed, 09/05/2012 - 14:14 | 2765239 blunderdog
blunderdog's picture

Hah.  Hope they had a dye-pack on all that dough.

Wed, 09/05/2012 - 17:41 | 2765904 Slightly Insane
Slightly Insane's picture

All they have to do is ..... steal it back?   It's all ones and zeroes ...... "rehypothecated ones and zeroes".

Wed, 09/05/2012 - 13:54 | 2765121 rfaze
rfaze's picture

Money is never important.....When it's not yours.

Wed, 09/05/2012 - 14:02 | 2765181 madcows
madcows's picture

Well, at about $140,000 per taxpayer, it is your money, I mean debt.

Thank you congress for your largesse.

Wed, 09/05/2012 - 14:10 | 2765217 rfaze
rfaze's picture

Then I guess it is important.

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