Will we ever see 'reality' again? Judging by CNBC's Rick Santelli's one-sentence epic rant this morning of the centrally-planned farce that we are living through...
Liesman: "Why would you normalize rates?"
Santelli: "Are we really that far down the hole that normalizing rates after this tremendous number - the huge drop in the unemployment rate - that you guys still wanna have the hammer-and-sickle on the flag"
the short answer, it appears, is 'No'. But perhaps it is Rick's seething anger in a second clip that exposes the reality of "the apologists" for the Fed and as he notes: "This whole thing is a Parlor Game and the country deserves better than Fed experimentation." Before you go home - watch these two clips (and listen)!
The initial rant begins - Liesman and Santelli I
And Later in the day - even more epic-er - Liesman and Santelli II...
Liesman: "The Fed is doing the only thing it knows"
Santelli: "The economy is better despite them."
Anchor: "Where would we be today without the Fed?"
Santelli: "We'd be significantly better now! What wouldn't have been significantly better is the one-year after the crisis - that would have been worse - but we would have been 'on the mend' Sam Zell-style, we would have hit a 'real' bottom."
Watch!