Keyword: ricksantelli

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  • Santelli to Obama: How Can We Redistribute Wealth If There Is No Wealth? (video)

    01/17/2014 5:21:54 AM PST · by i88schwartz · 17 replies
    RealClearPolitics ^ | January 16, 2013 | RealClearPolitics
    RICK SANTELLI: We all know that after Friday's jobs report, we know the economy is doing better. What we can't predict is will it be in a straight line, a nice even glide path? Will it be a 25-degree upward glide path, 30-degree, 45-degree or continue to be somewhat bumpy as some of the strength we observed in 2011, with GDP later to be followed by weakness? I can't answer that but what I can answer is that governments can't keep spending like it's 1999. Now, comments made before his first cabinet meeting for 2014, President Obama said the following,...
  • Santelli Rants Against The Intellectual Arrogance Of The "Intellectuals"

    09/13/2013 4:44:22 PM PDT · by Nachum · 4 replies
    Zero Hedge ^ | 9/13/13 | Tyler Durden
    The American public is "just too darn stupid to get it." That is the message that CNBC's Rick Santelli hears from the mainstream media when discussing polls that suggest US citizens are against a rise in the debt ceiling. Perhaps, as he exclaims, "we should only poll the Harvard and Princeton professors," since they have such a good grasp of reality. But, it is the "giant leap of faith" that the Fed can really move unemployment and keep the economy humming along to support the level of equities that has the Chicagoan irate. Congress - listen up - he explodes,...
  • Rick Santelli: I don't believe government inflation numbers

    08/14/2013 8:19:15 AM PDT · by Rusty0604 · 19 replies
    CNBC ^ | 08/14/2013 | cnbc
    When discussing the Federal Reserve's plans to taper asset purchases and the central bank's inflation targets, CNBC's Rick Santelli questioned whether the government's approach to inflation is a way to "fudge the numbers." "Listen, I don't believe the government's calculations. There, I said it," Santelli said. "I don't have better numbers, I have common sense." "There's a difference between real life and the government," he added.
  • Obama Says "Nevermind" on Deficits

    01/27/2013 3:12:48 AM PST · by Kaslin · 4 replies ^ | January 27, 2013 | John Ransom
    ou might remember that in July of 2011, when fighting over the debt ceiling, president Obama- right before he left for his 17th vacation at Martha’s Vineyard that year- complained about congressional inaction by saying that’s it time for the country “to eat its peas.” From CBSNews:"I've been hearing from my Republican friends for some time it is a moral imperative to tackle our debt and deficits in a serious way," Mr. Obama said. "What I've said to them is, let's go."The president said today he would not accept a smaller, short-term deal. "We might as well do it now," he said....
  • Santelli Rips the Keynesians: “The Answer Is Always More Money” (Video)

    01/15/2013 3:26:13 PM PST · by Hojczyk · 6 replies
    Gateway Pundit ^ | January 15, 2013 | Jim Hoft
    “The answer is always more money… in ten years when we look back, is the weight of all this debt going to take care of all of these impulsive upticks?”
  • To "The Precious Metal Purchasing Act" From Executive Order 6102 - Santelli's Take

    01/10/2013 3:16:53 PM PST · by Rusty0604 · 34 replies
    Zerohedge ^ | 01/10/2013 | Tyler Durden
    First they want gun registration and now precious metal registration? I’m sure the government would only use such information in our best interests, because as we all know: Your Government Loves You. Sounds reasonable, after all, only 'terrorists' buy guns and gold anyway."
  • Rick Santelli Goes Off!… “The Fed Doesn’t Have a Clue, Either Does the President, or Congress!”

    12/27/2012 3:25:38 PM PST · by Hojczyk · 24 replies
    Gateway Pundit ^ | December 27, 2012 | Jim Hoft
    <p>CNBC’s Rick Santelli was in rare form today. The on-air editor blasted the Fed, President Obama, Timothy Geithner and Congress over the fiscal cliff fiasco.</p> <p>During a discussion on the so-called fiscal cliff on Thursday, Santelli grew louder, eventually shouting into the camera and overpowering CNBC contributor and trader Jim Iuorio, who was attempting to hold back laughter.</p>
  • Santelli: If the Fiscal Abyss Is THAT Important, Why is The President on Christmas Vacation?

    12/24/2012 10:28:57 AM PST · by whitedog57 · 17 replies
    Confounded Interest ^ | 12/24/2012 | Anthony B. Sanders
    One of my favorite commentators on television is CNBC’s Rick Santelli. And today, he made a great point: when the Senate wanted to pass Obamacare, they met on Christmas eve, 2009. Somehow, the fiscal cliff isn’t that important to the Senate or House this time around. We know that President Obama is perfectly happy to let tax rates automatically increase on everyone (or at least those households earning $250,000 has above). And payroll taxes rise 2% regardless of the fiscal cliff or not. Then there are the 10+ Obamacare taxe, mostly hitting the top 2% of earners. But President Obama...
  • Santelli: 'They Love to Fib About Statistics' (Our Government)--Vudeo

    12/07/2012 11:39:36 AM PST · by Ernest_at_the_Beach · 5 replies
    CNBC ^ | Fri 07 Dec 12 | 08:30 AM ET
    Rick Santelli sees no signs of strength in the November jobs numbers and rejects arguments the economy wouldn't be hurt by higher tax rates.
  • VIDEO: Rick Santelli And CNBC Panel Get Into Crazy Shouting Match Over Unemployment Numbers

    10/10/2012 12:07:05 AM PDT · by bronxville · 19 replies ^ | October 9th, 2012 | Andrew Kirell
    On this morning’s edition of CNBC’s Squawk Box, reporters Rick Santelli and Steve Liesman got into an epic shouting match over the former’s suggestion that the recent 7.8% unemployment figure may have been an intentional election-year manipulation by the administration. Host Joe Kernen interrupted Liesman’s rant disputing the anti-BLS charges to give Santelli a shot, saying he was “tired of listening to you,” which prompted Liesman to angrily say: “That’s pleasant. That’s good stuff, Joe.” Santelli ranted about the poor state of the economy, despite the decrease in unemployment, and then added that he had predicted months ago that the...
  • Santelli Smells A Rat: 'I Told You They'd Get It Under 8%—They Did!'

    10/05/2012 6:04:36 AM PDT · by governsleastgovernsbest · 40 replies
    NewsBusters ^ | Mark Finkelstein
    Rick Santelli, the man who helped launch the Tea Party with his impassioned comments from the trading floor in 2009, sees the hand of politics at work in today's announcement that the unemployment rate has dipped below 8%. Speaking on CNBC's Squawk Box this morning just minutes after the number was announced, Santelli said: "I told you they'd get it under 8%--they did!" View the video here.
  • Santelli on GDP Numbers: 'Depressingly Weak'

    09/27/2012 9:35:02 AM PDT · by Free ThinkerNY · 4 replies ^ | Sept. 27, 2012 | DANIEL HALPER
    This morning, Rick Santelli said the revised GDP numbers are "depressingly weak": CNBC reports on the numbers: New durable goods orders in August fell by the most since the recession and a separate reading on the broader U.S. economy came in much weaker than expected. But weekly jobless claims sank to a two-month low, in a hopeful sign for the labor market. New orders for long-lasting U.S. manufactured goods in August fell by the most in 3 1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded. The Commerce Department said...
  • Santelli's Rant on More Quantitative Easing (calls it counterfeiting)

    08/27/2012 9:42:31 AM PDT · by Lorianne · 2 replies
    CNBC ^ | 27 August 2012 | Rick Santelli
    Video Transcript: other reasons, too, which we'll talk about later. cme group, rick santelli. looking at some long-term effects of qe. indeed, there is another name for qe. and we'll get to that momentarily. one of the great things about the human race is they can assimilate and accommodate. we talked about the swiss psychologist in the 1930s, the 1960s, really doing a lot of work here. what it simply means is that we're very adaptable as humans. i think quantitative easing fits into that. it's something that really doesn't seem like it's the answer for problems, printing more money,...
  • Rick Santelli Blasts Liberal Media’s “Ostrich Economics” (Video)

    05/04/2012 11:37:35 AM PDT · by Hojczyk · 12 replies
    Gateway Pundit ^ | May 4, 2012 | Jim Hoft
    Rick Santelli blasted the liberal media’s reporting on today’s dismal unemployment numbers. The CNBC star ridiculed the “Ostrich Economics” being pushed by the Obama-media. Here’s Santelli on the latest unemployment data. There are some highlights I’d really like to hit. The first one is that about 41.3% of unemployed have been unemployed for 39.1 weeks. That is huge and pretty much says it all. This is the weakest recovery since the Great Depression. A whole 4/5ths of the drop of the unemployment rate is due to a drop in the labor force participation. It is the lowest since 1981. Many...
  • Santelli: Why Doesn't Obama Go After Apple's Profits?

    03/29/2012 5:03:50 PM PDT · by Hojczyk · 11 replies
    CNBC's Rick Santelli: "If I broke my right arm, am I going to pick a fight with the neighbor? No. If I'm two months behind on my mortgage, am I going to go complain to the bank? Probably not. But let's see, with gasoline approaching $5 a gallon, isn't this just a supreme time to pick a war with the energy people that are bringing us what already seems to be in the market's eyes in short supply? Just like picking fights with China when the world's about ready to go into recession. There's a time and a place for...
  • Rick Santelli for vice president

    12/26/2011 11:11:20 AM PST · by Mustang Driver · 5 replies
    Charleston (WV) Daily Mail ^ | December 26, 2011 | Don Surber
    Four years ago, unsatisfied with the South Park-style choices for president — Rudy Giuliani, Mitt Romney or John McCain — conservatives looked to the 49th State and began clamoring for Sarah Palin for President. From Glenn Reynolds on December 12, 2007: “THE SARAH PALIN JUGGERNAUT is gathering steam!” (That link alas died in the great re-formatting of 2009.) She failed for a number of reasons, not the least of which was her failure to prepare for big-time interviews and the icy reception by Cindy McCain and John McCain’s staff. This time out, there is no Rudy Giuliani or John McCain,...
  • Santelli: "I Don't Trust the Unemployment Rate" (December 2, 2011)

    12/02/2011 6:42:33 AM PST · by truthkeeper · 31 replies ^ | December 2, 2011 | none (video)
    The link will provide a brief video of Santelli's take on today's numbers when they broke this morning. In short, he's not buying them.
  • Rick Santelli - Rant: economy, banks, housing, politics, too big to fail

    10/24/2011 12:42:33 PM PDT · by STARWISE · 5 replies
    CNBC/You Tube ^ | 10-21-11
    Another Sentelli hammer-nail rant of truth .. Rick Santelli Highest Wage Earners in DC, What Does That Tell US?

    10/07/2011 3:18:43 AM PDT · by Yosemitest · 14 replies ^ | October 5, 2011 | ANN COULTER
    THIS IS WHAT A MOB LOOKS LIKE October 5, 2011 by ANN COULTER I am not the first to note the vast differences between the Wall Street protesters and the tea partiers. To name three: The tea partiers have jobs, showers and a point. No one knows what the Wall Street protesters want -- as is typical of mobs. They say they want Obama re-elected, but claim to hate "Wall Street."You know, the same Wall Street that gave its largest campaign donation in history to Obama,who, in turn, bailed out the banks and made Goldman Sachs the fourth branch...
  • Santelli, Friedman duke it out over “Ponzi scheme”

    09/08/2011 1:26:31 PM PDT · by Hojczyk · 35 replies
    Hot Air ^ | September 8,2011 | ED MORRISSEY
    My friend Jazz Shaw worries that Rick Perry’s argument that Social Security in its present form is a “Ponzi scheme” leaves him vulnerable in a general election. Rick Santelli gave it a workout on CNBC today against the New York Times’ Thomas Friedman, who ends up sputtering into ad hominems when he can’t counter Santelli’s arguments about the nature of a collective that can’t pay out on its promises — and Santelli responds in kind. The Daily Caller provides the transcript and Greg Hengler provides the clip: This gets to the larger point about using blunt language to describe an...
  • Rick Santelli to Tom Friedman: ‘You’re idiotic’

    09/08/2011 8:22:17 AM PDT · by caroline2005nc · 29 replies
    The Daily Caller ^ | September 8, 2011 | Jeff Poor
    Texas Gov. Rick Perry stuck to his claim during last night’s presidential debate that Social Security is “a Ponzi scheme.” The media are getting a lot of mileage out of that sound bite, and the Ponzi-scheme debate is very much alive this morning. On Thursday’s “Squawk Box” on CNBC, CME Group floor reporter Rick Santelli, known to some as the father of the tea party movement, challenged New York Times columnist and Rick Perry critic Thomas Friedman on that claim.
  • Rick Santelli: 'If it Wasn't for the Tea Party...We Would Have Been Rated BBB'

    08/08/2011 5:36:57 PM PDT · by Sub-Driver · 11 replies
    Rick Santelli: 'If it Wasn't for the Tea Party...We Would Have Been Rated BBB' By Noel Sheppard Created 08/08/2011 - 7:09pm For over 24 hours, Obama advisers, Democrat senators, and terminally stupid ideologues in the media have been blaming Standard and Poor's downgrade of America's debt on the Tea Party. On Monday, one of the only sane voices in the mainstream media stood up and said, "If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB" (video follows with transcript and commentary): JOE KERNEN, CNBC: Alright. You know,...
  • CNBC's Santelli vs. WaPo's Klein on gov't intervention in the economy (Video)

    08/05/2011 7:14:07 AM PDT · by Rufus2007 · 21 replies
    TheDC ^ | August 5, 2011 | Jeff Poor
    Throughout Thursday on CNBC, network CME Group floor reporter Rick Santelli referred to turmoil in the financial markets as cleansing with “a giant enema.” That is, Santelli claimed that despite all the government’s efforts to prop up the failing economy, the truth eventually comes out. On Friday’s “Morning Joe” on MSNBC, Santelli, who is given credit for inspiring the Tea Party movement in 2009, put his theory up against Washington Post blogger Ezra Klein, who insisted government does play a role in the nation’s economic engine: ...more (w/video)...
  • Rick Santelli's (CNBC) Latest Rant - 3/31/11 - "Double or Nothing"

    03/31/2011 2:25:40 PM PDT · by randita · 18 replies
    CNBC ^ | 3/31/11 | CNBC Video Clip
    Santelli "Double or Nothing"
  • On Rick Santelli's "Meet The Press" Appearance, A $113 Trillion Future Rounding Error

    02/21/2011 8:44:34 AM PST · by Whenifhow · 6 replies ^ | 2-20-11 | Tyler Durden
    Today, appearing on Meet The Press, in addition to Susan Rice, Dick Durbin, Lindsey Graham, Jennifer Granholm, Harold Ford, and Ed Gillespie was CNBC's uber contrarian voice, Rick Santelli. The topic: reigning in government spending, a topic which will be with America until its last bond issuance, sometime in the next 5 years. And while Rick was quite subdued this time around (it seems the CBOT voice only sees red when confronted with the likes of Steve Liesman), he did compare the crisis facing America now to the events from 9/11... "I think this is an issue that needs to...
  • Santelli Compares Budget Crisis to 9/11

    02/20/2011 5:24:01 PM PST · by taildragger · 8 replies
    Politico ^ | 2/20/2011 | Abby Phillip
    NBC's Rick Santelli on Sunday compared the budget crises affecting state and federal balance sheets to a Sept. 11-type attack on the nation.
  • Must see video of Rick Santelli discussing the Tea Party's effect on investors.

    09/17/2010 1:27:59 PM PDT · by RunForesterRun · 19 replies
    CNBC ^ | 09/16/10 | CNBC
  • Tea Party Express Press Conference Fights Back Against Attempts to Discredit Tea Party Movement

    07/28/2010 7:37:47 PM PDT · by Syncro · 24 replies · 4+ views
    Tea Party Express ^ | July 28, 2010 | Levi Russell
    FOR IMMEDIATE RELEASE: July 28, 2010CONTACT: Levi Russell at (509) 979-6615 or Tea Party Express Press ConferenceFights Back Against Attempts to Discredit the Tea Party MovementNational Black Conservatives Rally to Take Back AmericaThe Tea Party Express, (website: one of the nation’s largest tea party organizations with over 400,000 members, is conducting a press conference regarding the unrelenting attacks on the tea party movement in an effort to dissuade Americans from rebelling at the ballot box in the November 2010 elections.“From the very beginning when Rick Santelli’s famous on-air rant helped rally millions of Americans to the tea party...
  • Rick Santelli: Deflation Is The "Biggest Bogeyman In A Central Banker's Closet"

    07/03/2010 2:30:46 PM PDT · by blam · 23 replies
    The Business Insider ^ | 7-3-2010 | Gregory White
    Rick Santelli: Deflation Is The "Biggest Bogeyman In A Central Banker's Closet" Gregory White Jul. 3, 2010, 3:32 PM Rick Santelli of CNBC spoke with King World News (via Zero Hedge) on a variety of different economic topics, but his most prescient comments were about the reality of deflation in the United States. Santelli called deflation "the most disingenuous argument," of the moment, saying that deflation is only a natural response to the end of a bubble. That end of a bubble, according to Santelli, causes deleveraging in the economy, as the market heals itself to reveal the reality of...
  • Cramer Rips Feds for Congressman’s 1K-2K Dow Drop Call: Washington Has Decided to Eviscerate Profits

    06/29/2010 2:45:20 PM PDT · by Rufus2007 · 9 replies
    Newsbusters ^ | June 29, 2010 | Jeff Poor
    On CNBC's June 29 broadcast "Power Lunch," Rep. Paul Kajorski, D-Pa. made a pretty prediction about the Dow Jones Industrial Average (DJIA) should Congress be unable to pass financial regulation legislation. [Video Available Here] "You know, I wish every one of them would ask the question and also the industry and media, what happens in this country if this bill fails?" Kanjorski said. "Do you think 236 points down on the Dow is surprising? Check 1,000 or 2,000 points if we fail to change the ways that caused this problem." That caught the attention of CNBC's Erin Burnett, who played...
  • Rick Santelli Shouts that Government Must “Stop Spending, Stop Spending, Stop Spending!” – Video

    06/28/2010 9:40:52 AM PDT · by Federalist Patriot · 10 replies
    Freedom's Lighthouse ^ | June 28, 2010 | Brian
    Here is Rick Santelli on fire, speaking for the American People and shouting to the Obama Administration that they must “Stop Spending, Stop Spending, Stop Spending.” That’s what the people want! Destined to be a classic!
  • MUST SEE: "Stop Spending!": CNBC's Santelli Warns Liesman "November 2nd Is The Day"

    06/28/2010 6:43:04 AM PDT · by i88schwartz · 17 replies
    RealClearPolitics ^ | June 28, 2010 | RealClearPolitics
    NOTE: THIS IS SANTELLI's TEA PARTY #2 RANT FROM THIS MORNING!!! *** "I want this government to stop spending! Stop spending! Stop spending! Stop spending! STOP SPENDING! That's what we want! Stop spending," Rick Santelli yelled from the floor of the Chicago Board of Traders. "Go back to Russia where you understand the state and the citizen," Santelli told CNBC analyst Steve Liesman after he argued against the benefits of tax cuts.
  • Vintage Santelli Rips Obama Policies: Why Does My Share Have to Pay for California's Teachers?

    06/25/2010 1:10:28 PM PDT · by Rufus2007 · 8 replies
    Newsbusters ^ | June 25, 2010 | Jeff Poor
    This is one of those "I told you so" moments conservatives should really be out publicizing: The $787-billion stimulus passed early 2009 - it's not working. And on CNBC's June 25 broadcast of "The Call," CME Group floor reporter Rick Santelli explained that all government spending is not created equal, and President Obama's so-called stimulus spending was for government payrolls and not the infrastructure improvement is was sold to be. "Well, you know, it's all about, in my opinion, definition and choice," Santelli said. "Definition, I don't disagree with our guest, Richard [DeKaser, president of Woodley Park Research], about stimulus,...
  • CNBC's Santelli Warns U.S. 'Could End Up Worse than Japan' Facing a Lost Decade

    06/24/2010 1:22:34 PM PDT · by Rufus2007 · 20 replies · 3+ views
    Newsbusters ^ | June 24, 2010 | Jeff Poor
    Fresh off his Tea Party cover story in the June 24 Weekly Standard, CNBC's Rick Santelli foresees what could be classified as an economic black hole for the United States of America. On the network's June 24 broadcast of "Strategy Session," the CME Group reporter explained how the country could be headed down the same path and face the economic calamity the Japanese faced in what is known as the "lost decade." That period, from 1991-2000, was one which the Asian nation failed to grow economically despite countless efforts by the government to intervene. But as Santelli explained - the...
  • Michael Barone: The Transformative Power of Rick Santelli's Rant

    06/10/2010 10:38:01 AM PDT · by neverdem · 17 replies · 379+ views
    Human Events ^ | 06/10/2010 | Michael Barone
    After the latest round of primaries, some lessons can already be drawn from this political year. Incumbents are not popular, especially Democratic incumbents. Democrats' big government programs are hugely unpopular. Economic distress has made Americans yearn not for more government but for less. How to explain something contrary to the New Deal historians' teaching that economic distress increases support for big government? Clues can be obtained, I think, by examining what amounts to the founding document of the tea party movement, Rick Santelli's "rant" on the CME trading floor in Chicago, telecast live by CNBC on Feb. 19, 2009. That...
  • Antiquated Law Preventing Foreign Naval Aid for Oil Spill Says CNBC’s Santelli, Heritage Foundation

    06/09/2010 2:20:33 PM PDT · by Rufus2007 · 7 replies · 47+ views
    Newsbusters ^ | June 9, 2010 | Jeff Poor
    When a protectionist law is enacted and nearly a century later it is inhibiting a recovery from major ecological catastrophe, it's probably time to scrap it or at least temporarily waive it. But instead a nearly century old provision known as the Jones Act of 1920 is wielding the wrath of unintended consequences. According to the Heritage Foundation, this protectionist measure was put in place to defend the American maritime industry, but is endangering far more jobs than it is protecting. "The Jones Act, which is supposedly about protecting jobs, is actually killing jobs," Heritage co-authors James Dean and Claude...
  • Santelli Blames Financial Regulation Vote for Dow Drop: 'What Are They Doing in Washington?'

    05/20/2010 9:29:57 PM PDT · by Rufus2007 · 26 replies · 920+ views
    Newsbusters ^ | May 20, 2010 | Jeff Poor
    With the Dow Jones Industrial Average (DJIA) take another tumble of 376 points on May 20, some investors are pointing to problems in Europe for the sell-off. However, there may be problems at home as well. CNBC's CME Group floor reporter Rick Santelli explained on the May 20 broadcast of "Closing Bell" it had a lot to do with the Europe and the Euro, however it isn't all coming from abroad. "Well, a couple of things," Santelli said. Well, first of all, if you look at the high-grades, they widened out with the high-yields widened out more today at levels...
  • Tea Party Movement Not Realizing U.S. is Bailing Out Greece, Says CNBC Host (Video)

    05/10/2010 1:01:51 PM PDT · by Rufus2007 · 23 replies · 991+ views
    Newsbusters ^ | May 10, 2010 | Jeff Poor
    The European Union and the International Monetary Fund to the rescue! The Dow Jones Industrial Average (DJIA) soars and investors breathe a sign of relief. But where's this $1 trillion in bailout funds for Greece coming from? On CNBC's May 10 "Squawk Box," host Joe Kernen channeled Rick Santelli's anti-bailout populism, suggesting it was important to note that this bailout was made possible in part by the American taxpayer. "On one thing, Rick - because you started the whole thing where you said, ‘Are you listening, President Obama?' about paying for your neighbor's mortgage," Kernen said. "Are you, could you...
  • Santelli: Greek Debt Crisis and Riots America’s 'Ghost of Christmas Future'

    05/07/2010 12:36:44 PM PDT · by Rufus2007 · 19 replies · 892+ views
    Newsbusters ^ | May 7, 2010 | Jeff Poor
    While international attention has been focused on Greece's debt crisis and the riots that have ensued over austerity measures, the possibility of the United States finding itself in the same situation is one to be considered a legitimate possibility says CNBC CME Group floor reporter Rick Santelli. On CNBC's May 7 "Squawk Box," host Joe Kernen pointed out the fear of contagion spreading throughout the world economy has been a focus, but asked Santelli if anything could be discerned from the Greek situation that would apply to the American economy. "Well, you remember the Christmas Carol?" Santelli said. "You know,...
  • CNBC’s Liesman: What Path to Socialism? Says Current Rate of Gov’t Growth No Indicator for Future

    04/29/2010 2:19:03 PM PDT · by Rufus2007 · 11 replies · 402+ views
    Newsbusters ^ | April 29, 2010 | Jeff Poor
    A $787-billion stimulus. Liabilities of $356 billion for the TARP bailout on the federal government's balance sheet. And that's in addition to other unfunded liabilities from federal entitlements like ObamaCare, Medicare, and Social Security. But that doesn't mean the U.S. is heading down the path toward socialism because they were one-time expenditures, according to CNBC senior economics reporter Steve Liesman. On CNBC's "Squawk Box" April 29, as jobless claims for the week was being released on the floor of the CME Group in Chicago, co-host Joe Kernen asked for Liesman's opinion. ...more (w/video)...
  • Current High Unemployment Rate to Remain Same 'Years From Now' Says Santelli (Video)

    04/12/2010 12:52:37 PM PDT · by Rufus2007 · 12 replies · 968+ views
    NewsBusters ^ | April 12, 2010 | Jeff Poor
    A little over a year ago, President Obama signed into law the $787-billion stimulus legislation that was supposed to prevent the unemployment rate from exceeding 8 percent. And although the unemployment has receded some from its high, it's still well North of 9 percent. So if that stimulus is given more time, will unemployment improve? Last week's jobless claims numbers, showing a stagnant unemployment rate of 9.7 percent, didn't provide any reason for optimism. And on CNBC's April 12 "Squawk Box," host Joe Kernen asked CNBC CME Group floor reporter Rick Santelli if this economic indicator is going to be...
  • Santelli: $4 Gas, $150 Oil Coming This Summer

    04/05/2010 2:14:05 PM PDT · by Rufus2007 · 39 replies · 2,315+ views
    NewsBusters ^ | April 5, 2010 | Jeff Poor
    With summer driving season upon us, it's important to note that there's a traditional jump in gas prices. But will this seasonal adjustment benefit commodities, specifically oil and make the price of gasoline even higher? That could happen if those forms of energy lure investment from what seems to be an over-valued equities market, brought on by what some claim is cheap money. On her April 5 program, "Closing Bell" host Maria Bartiromo asked CNBC's CME Group floor reporter Rick Santelli if a move higher in commodities was due to inflation. However, according to Santelli, it's not inflation but a...
  • Santelli’s Plea to Obama: Use TARP, ObamaCare Tactics to Drill Now and Avoid $100-Plus Oil

    04/01/2010 2:46:00 PM PDT · by Rufus2007 · 15 replies · 506+ views
    NewsBusters ^ | April 1, 2010 | Jeff Poor
    Green jobs to save the American economy? If you have listened to the various politicos on the left end of the spectrum, especially before and after the passage of the $787-billion stimulus package earlier, you would think that is the cure-all. But so far it isn't working and there are other fundamental problems that lie ahead according to some energy market analysts, like much higher oil prices - despite the pledge by President Barack Obama to open up 160 million acres for future oil exploration and drilling. To avoid the price of $100-plus oil, CNBC's CME Group floor reporter suggested...
  • Prelude to a Media Victory Lap: Santelli Warns Not to Buy Hype of Upcoming Jobs Data

    03/29/2010 11:48:04 AM PDT · by Rufus2007 · 8 replies · 890+ views
    NewsBusters ^ | March 29, 2010 | Jeff Poor
    With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census. On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli was asked how to interpret the expected improvement. He warned it isn't the kind of job creation that is good for a sustained economic recovery. "You know, I think it's fascinating," Santelli said....
  • Michael Moore: CNBC's Rick Santelli 'Classist, Bigotist'

    03/12/2010 10:07:23 AM PST · by Rufus2007 · 17 replies · 774+ views
    NewsBusters ^ | March 12, 2010 | Jeff Poor
    Left-wing filmmaker Michael Moore and CNBC's Rick Santelli couldn't be more philosophically opposite. Style of argument differs too: Michael Moore assumes the worst in people that oppose his view. In a March 12 appearance on WNYC 93.9 FM/820 AM's "The Brian Lehrer Show," Moore was asked to react to Rick Santelli's February 2009 call for action against the Obama administration proposal to offer a housing relief through the taxpayer to those who got in over their heads on their mortgages. "Ah, the sound of angry white guys wafting its way through the airwaves," Moore said. "Obviously that was a pivotal...
  • CNBC's Santelli Brandishes Hammer to Illustrate Overreaching Obamanomics

    02/03/2010 8:50:36 AM PST · by Rufus2007 · 5 replies · 785+ views
    NewsBusters ^ | February 3, 2010 | Jeff Poor
    As the old cliché goes, you don't use a sledgehammer to crack a nut, but according to Rick Santelli, that's exactly what it appears the Obama administration is doing terms of financial regulation and fiscal discipline. On CNBC's Feb. 2 broadcast of "Fast Money," host Melissa Lee proposed that taxing the wealthy is not the path to "economic prosperity and fiscal stability." Santelli, the network's CME Group floor reporter, agreed. "Well, you're right," Santelli said. "But I also think you're going to see when the Bush tax cuts expire, a lot of middle class write-offs and exemptions and various tax...
  • CNBC's Santelli Reacts to NYTimes Label of Tea Party 'Heroes and Inspirations'

    01/25/2010 1:49:14 PM PST · by Rufus2007 · 13 replies · 1,108+ views
    NewsBusters ^ | January 25, 2010 | Jeff Poor
    It's curious to see people in the mainstream media try to make sense of the Tea Party movement. The New York Times, which once called the Tea Parties a psychological phenomenon rather than a political movement, has now changed its tune. In the wake of the stunning upset by Scott Brown in the Jan. 19 Massachusetts special election to fill the seat vacated by Ted Kennedy's death, the Times is attempting a more analytical look at the so-called "tea party tiger." Specifically, the Times looked at some key figures in the movement, Sen. Jim DeMint, former Alaska Gov. Sarah Palin,...
  • CNBC's Rick Santelli Condemns Media for Ignoring Removal of 'Pig Slop' Cap on Fannie, Freddie

    12/29/2009 11:47:24 AM PST · by Rufus2007 · 9 replies · 1,146+ views
    NewsBusters ^ | December 29, 2009 | Jeff Poor
    While much of the national media was focused on a Christmas Eve Senate vote to pass health care reform legislation, the Obama administration's Treasury Department was tending to other business that will have serious implications for the U.S. economy. But did anyone notice? As Zachary Goldfarb reported for The Washington Post on Christmas Day, the Obama Treasury said it would lift the limits on what the federal government could provide in "emergency aid" to Fannie Mae and Freddie Mac - without seeking permission from Congress. That led CNBC CME Group floor reporter Rick Santelli to ask if anyone noticed and/or...
  • CNBC's Santelli: High Tea Party Polling Data Good for U.S. Dollar

    12/17/2009 2:33:57 PM PST · by Rufus2007 · 4 replies · 485+ views
    NewsBusters ^ | December 17, 2009 | Jeff Poor
    It's often said markets function better when there is gridlock in Washington, D.C. because there's less of a chance for government will interfere in the private sector, creating a sense of security. But in this day and time, that theory applies to the U.S. dollar as well. On CNBC's Dec. 17 "Squawk Box," CNBC Chicago Mercantile Exchange reporter Rick Santelli debated what was causing the recent rise in the U.S. dollar. Santelli, the original inspiration for the tea party movement, squared off with Jim Iuorio, CNBC "OptionsAction" regular and CME trader, about the cause - a weakened European economy or...
  • Rick Santelli and Steve Liesman Get Heated Live on CNBC Talking About the Economy (Video)

    12/15/2009 1:52:12 PM PST · by Talkradio03 · 6 replies · 858+ views
    These 2 don't care for each other, I kinda like what Santelli is saying...this is all live on the air (Video)