Tuesday, September 15, 2009

Santelli Rant: Reminiscent Of Peter Schiff

Yesterday, Rick Santelli was on another rant as CNBC was doing its one year anniversary of the collapse of Lehman Brothers and how the bold actions of central bankers saved the world from economic collapse.

It isn't so much what Santelli says that is important -because we have heard it all before - but how dismissive the CNBC anchors were of his comments. Joe, Carl, and Steve have a good time and laugh it up, and in the end, they send the only guy with something to say back to the corner of the classroom to lick his wounds.




In some ways I am reminded of the interviews that Peter Schiff did in 2006 and 2007 prior to the housing bust and recession. Schiff use to come on these shows to present his side of the story. Everyone would gang up on him essentially calling him a nut case. Oh, how wrong they were.





4 comments:

TraderMark said...

I feel like Rick every day.

Poor Rick, he lives outside the Matrix and cares about the costs - and not just the benefits. Surprised he still is allowed on CNBC.

Anonymous said...

Those comments by Dr. Laffer are AWESOME! At least he didn't hedge his views anyway. Comedy, starting around 1.26 in the interview. I have heard Dr. Laffer come around and now believes that the prospects for the US are really dismal, but it is tremendously funny to hear him spout how great the economy was back then.

Guy M. Lerner said...

TM:

Hi there! I get this nauseating feeling in my stomach when I see the back slapping that is going on.

Investors and market watchers are funny. A year ago, Dow 9500 had everyone in a panic; now Dow 9500 is a reason to bring out the party hats.

How much did this cost us???

rigger mortice said...

the pair I enjoy the most are the two guys who outright laugh at Schiff in the second clip in.Man,they're captured for posterity being totally totally wrong.

possibly the only upside of this whole fiasco.