CNBC Reporter Torches Rick Santelli: Nothing You’ve Predicted Has Ever Come True
If you’re at all familiar with CNBC’s Rick Santelli, you know he almost never appears on the network without a shoutfest ensuing.
The financial commentator — long considered the godfather of the tea party movement for his 2009 remarks — tends to battle with his colleague Steve Liesman over wonky monetary policy questions involving the Federal Reserve, government intervention, and inflation.
During a Monday afternoon debate, the CNBC panel — including Liesman — tore into their famously outspoken colleague by telling him that all of his dire predictions about the Fed’s actions have been proven wrong.
After a series of rants from Santelli on Fed Chair Janet Yellin possibly risking inflation, host Scott Wapner intervened to say that “the jury’s still out as to whether the Fed is going to help.”
This set Santelli off: “Jury? Who are you talking about? Who’s the jury specifically? Academia? Professors? That valet you let park your car?”
Co-panelist Josh Brown piled on: “Rick, you already decided this wasn’t going to work five years ago. Is some of your anger about confirmation bias?”
“I was right! I was right!” Santelli shouted, walking off-camera to applause from Chicago floor day traders. “End of conversation. Hasta la vista!”
But he returned when Liesman began torching him:
It’s impossible for you to have been more wrong, Rick. Your call for inflation, the destruction of the dollar, the failure of the U.S. economy to rebound. Rick, it’s impossible for you to have been more wrong. Every single bit of advice you gave would have lost people money, Rick… There is no piece of advice that you’ve given that’s worked, Rick. Not a single one… The higher interest rates never came. The inability of the U.S. to sell bonds never happened. The dollar never crashed, Rick. There isn’t a single one that’s worked for you.
Santelli shouted a rebuttal throughout Liesman’s rebuking.
Watch below, via CNBC:
Have a tip we should know? [email protected]