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(Some Guy)   Rick Santelli loses it on CNBC when asked to defend his unemployment numbers conspiracy   (ritholtz.com) divider line 75
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4488 clicks; posted to Business » on 16 Oct 2012 at 12:11 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-16 08:30:29 AM  
The best part is at 1:48 "Why did you have no doubt Rick?" and you can hear quietly in the background "aw, shiat" because they knew it would go off the tracks then.
 
2012-10-16 08:53:47 AM  
BECAUSE THESE NUMBERS ARE LIKE THE OTHER NUMBERS

I HAVE 32 YEARS OF EXPERIENCE.
 
2012-10-16 09:01:33 AM  
This isn't informative, it's entertainment. As entertainment, it's dumb.
 
2012-10-16 09:12:05 AM  
There's no better way to sell your point of view than by screaming like a madman.
 
2012-10-16 09:43:29 AM  
I bet Rick Santelli drives a Dodge Stratus.
 
2012-10-16 09:44:25 AM  
From the intro to the comments section:

"Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous."

I wonder what his fark handle is.
 
2012-10-16 09:53:55 AM  
It would be a story if Rick Santelli had his sh*t together for once.
 
2012-10-16 10:29:50 AM  
Rick Santelli seemed to hit the ground running with his answers to the reporters. The reporters stumbled and fumbled around until they hit on, what in their heads, sounded like a good approach and they would attempt to get Santelli to respond for a few minutes. He never once took their bait. That's leadership, Republican style.
 
2012-10-16 11:30:04 AM  
This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.
 
2012-10-16 12:22:43 PM  
I figured CNBC had devolved into reality shows about the investments of an inbred family of millionaires from the Ozarks. This is close though.
 
2012-10-16 12:24:21 PM  

SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.


Are you also a birther and a truther?
 
2012-10-16 12:26:06 PM  
It's just lost all credibility since Mark Haines isn't around to dress up as Frankenstein on halloween
 
2012-10-16 12:35:29 PM  
I find it amusing that "Things are starting to look better for America! This is an outrage!!" has become a rallying cry for Republicans.

Suck it, America-haters.
 
2012-10-16 12:41:11 PM  

Diogenes: There's no better way to sell your point of view than by screaming like a madman.


Hey, if it works for used cars...
 
2012-10-16 12:43:37 PM  

Arkanaut: Diogenes: There's no better way to sell your point of view than by screaming like a madman.

Hey, if it works for used cars...


I feel the urge to buy a Sham-Wow.
 
2012-10-16 12:52:24 PM  

SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.


This is what Virginians actually believe.
 
2012-10-16 12:57:18 PM  
Dear God, that was like watching howler monkey's screech at one another. I have no idea what the hell they were saying and anything substantive was lost beneath them talking over one another.
 
2012-10-16 12:57:44 PM  
Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.
 
2012-10-16 12:59:17 PM  

MacEnvy: SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.

This is what Virginians actually believe.


NOT ALL OF US!
 
2012-10-16 01:01:41 PM  
Rick needs to shoot his goo.
 
2012-10-16 01:01:53 PM  
I don't even understand what they're screaming about. Didn't the "it's an Obama conspiracy" thing die pretty quick when people figured out California tends not to report its number on time anyway?
 
2012-10-16 01:01:56 PM  

hp6sa: Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.


Trends. How do they work?
reflectionsofarationalrepublican.files.wordpress.com
 
2012-10-16 01:02:16 PM  

hp6sa: Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.



yea, he predicted the Future, man. groovy.
 
2012-10-16 01:10:33 PM  
Alright, what script do I have to enable to get the video to work?

I hate this shiat.
 
2012-10-16 01:17:38 PM  

SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.


www.dealspwn.com
 
2012-10-16 01:32:16 PM  
Anyone that keeps up with politics knew that number would be under 8 before the election.

However it happened.
 
2012-10-16 01:38:07 PM  

LucklessWonder: MacEnvy: SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate
6) Hillary Clinton: I take the blame for those lies. (ok, in this case it would be a different scapego-, er-, secretary, but you get the point)

you got caught again, dems. you coulda gone with 8.0 or 7.9, but you got greedy. gonna be hard to defend 7.8%. That's too big a jump, no matter how you manipulate the numbers.

This is what Virginians actually believe.

NOT ALL OF US!


So much this!
 
2012-10-16 01:39:06 PM  
Is this how CNBC normally is? I stopped watching in 2000.
 
2012-10-16 01:46:26 PM  

Girion47: Alright, what script do I have to enable to get the video to work?

I hate this shiat.


I used "Temporarily Allow All" three times in a row before it finally stopped loading new 3rd-party scripts and it still didn't work. So instead I just marked all the mediaite.com stuff as untrusted so I know not to waste my time with their horribly broken site going forward.

As if the typical web developer wasn't stupid enough back when they were just asked to develop simple websites, now we're living in an age where they're loading each others' busted-ass scripts all over the place on every site they build... jesus...
 
2012-10-16 01:52:34 PM  

SlothB77: This is going to go the same way the Benghazi thing went:

1) Obama admin lies
2) GOP: it's a conspiracy
3) Liberal media/ Fark: calling this a conspiracy is ridiculous. The GOP is just playing politics right before an election.
4) GOP: we found all this evidence of made all of these leaping conjectures that amount to a conspiracy
5) Liberal Media/ Fark/ Dems/ Obama Admin: Oh shiate WTF are you smoking? Seek help.

 
2012-10-16 01:53:37 PM  

SlothB77: 4) GOP: we found all this evidence of a conspiracy


This is the part that never actually happens.
 
2012-10-16 01:56:47 PM  
I gave up on watching CNBC or listening to or respecting Rick's opinion after his famous Tea Party rant that started this whole business.

/Bloomberg FTW

//Waiting for Emily Chang's return
 
2012-10-16 01:57:37 PM  

barneyfifesbullet: Anyone that keeps up with politics knew that number would be under 8 before the election.

However it happened.


i think it helps when one state didn't report it's numbers in time.
 
2012-10-16 02:09:00 PM  

Philip Francis Queeg: Are you also a birther and a truther?


Right winged themed troll account who doesn't understand how insurance or birth control work.
 
2012-10-16 02:12:00 PM  
Here goes. Can't make a meaningful dent in the unemployment rate unless you are producing more than 200k jobs a month for an extended period of time. Obviously, we haven't done that, so the dip in unemployment is illusory and not reflective of real improvement in the labor market.

The question is - was this number manufactured to sway the election. Don't know, but it is certainly possible. To get that number, didn't they make large upward revisions to the previous few months? Assuming error in the original estimates are random, we would expect a distribution of errors. Some estimates higher than actual and some lower. Some estimates slightly off the mark, and some way off. That all the adjustments were somewhat large and upward looks suspicious.
 
2012-10-16 02:17:49 PM  

stpauler: The best part is at 1:48 "Why did you have no doubt Rick?" and you can hear quietly in the background "aw, shiat" because they knew it would go off the tracks then.


I thought you were kidding or exaggerating, but, nope, it's there.
 
2012-10-16 02:22:42 PM  

KierzanDax: stpauler: The best part is at 1:48 "Why did you have no doubt Rick?" and you can hear quietly in the background "aw, shiat" because they knew it would go off the tracks then.

I thought you were kidding or exaggerating, but, nope, it's there.


I heard it as well. I'm curious who made that utterance.
 
2012-10-16 02:28:46 PM  
Please, the elder Bush's administration cooked up a ridiculous GDP number right before the 92 election. This is not unheard-of territory. There are just more outlets for screeching party parrots to blame the other side.
 
2012-10-16 02:32:05 PM  

Pumpernickel bread: Assuming error in the original estimates are random


Why must we assume that?
 
2012-10-16 02:32:49 PM  

Marshmallow Jones: Please, the elder Bush's administration cooked up a ridiculous GDP number right before the 92 election. This is not unheard-of territory. There are just more outlets for screeching party parrots to blame the other side.


Can you cite this or are you just making history up?
 
2012-10-16 02:39:09 PM  

BSABSVR: Marshmallow Jones: Please, the elder Bush's administration cooked up a ridiculous GDP number right before the 92 election. This is not unheard-of territory. There are just more outlets for screeching party parrots to blame the other side.

Can you cite this or are you just making history up?


GDP for Bush I last 4 quarters in office were 2.7%, 1.7%, 1.6% and then 4.5% just before the election. There was the same outcry in the press of 'cooked books!!1!' at that time.
 
2012-10-16 02:41:12 PM  

SomeoneDumb: I gave up on watching CNBC or listening to or respecting Rick's opinion after his famous Tea Party rant that started this


rick is a poster boy of "fark you i got mine". his rant about how government shouldn't help home owners after farking tarp was approved was just atrocious.
 
2012-10-16 02:44:41 PM  

SomeoneDumb: I gave up on watching CNBC or listening to or respecting Rick's opinion after his famous Tea Party rant that started this whole business.

/Bloomberg FTW

//Waiting for Emily Chang's return


Tea Party shenanigans started with Ron Paul, but was quickly subverted by morons.
 
2012-10-16 02:47:53 PM  

Pumpernickel bread: Here goes. Can't make a meaningful dent in the unemployment rate unless you are producing more than 200k jobs a month for an extended period of time. Obviously, we haven't done that, so the dip in unemployment is illusory and not reflective of real improvement in the labor market.

The question is - was this number manufactured to sway the election. Don't know, but it is certainly possible. To get that number, didn't they make large upward revisions to the previous few months? Assuming error in the original estimates are random, we would expect a distribution of errors. Some estimates higher than actual and some lower. Some estimates slightly off the mark, and some way off. That all the adjustments were somewhat large and upward looks suspicious.


My anecdotal experience is that all the retailers hired Xmas help very early this year and are no longer looking for temp employes.
 
2012-10-16 02:54:23 PM  

Pumpernickel bread: Here goes. Can't make a meaningful dent in the unemployment rate unless you are producing more than 200k jobs a month for an extended period of time. Obviously, we haven't done that, so the dip in unemployment is illusory and not reflective of real improvement in the labor market.

The question is - was this number manufactured to sway the election. Don't know, but it is certainly possible. To get that number, didn't they make large upward revisions to the previous few months? Assuming error in the original estimates are random, we would expect a distribution of errors. Some estimates higher than actual and some lower. Some estimates slightly off the mark, and some way off. That all the adjustments were somewhat large and upward looks suspicious.


You're a birther. Your opinion invalid.
 
2012-10-16 03:04:13 PM  

stpauler: hp6sa: Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.

Trends. How do they work?
[reflectionsofarationalrepublican.files.wordpress.com image 482x290]


*OH_SNAP.jpg*
 
2012-10-16 03:07:34 PM  
I'll stick to my Bloomberg. Less drama, more information.
 
2012-10-16 03:56:15 PM  

hp6sa: Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.


This regime also claims inflation is 1.7% as evidenced by the new COLA for SS. Never mind that gasoline costs have doubled in less than 4 years...

I guess if you're a buddy and received a federal solar panel loan that you don't need to repay, it's been a great four years. Not so much for everyone else
 
2012-10-16 04:01:28 PM  
Obama Rage Syndrome
 
2012-10-16 04:17:29 PM  

Obamagalomania: hp6sa: Rants aside, it is kind of amusing that Santelli had predicted about 10 months ago that the Dept of Labor would release unemployment numbers just below 8% right before the election... which came true.

This regime also claims inflation is 1.7% as evidenced by the new COLA for SS. Never mind that gasoline costs have doubled in less than 4 years...


Area Man Imagines Inflation To Be What CPI Actually Is.
 
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