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      Remember Rick Santelli? He’s the CNBC financial analyst who, in 2009, was credited with beginning America’s love affair with a then-budding political movement which later dubbed itself “The Tea Party”.

      It was during a live report, when Santelli lost it and began loudly screaming about President Obama and the Pelosi-Reid liberal power-o-sphere over their support of the economic bailout.

    Well, all the elderly, white, rural, religious fundamentalist, usually Southern, Conservatives heard the call and made history - including the flood of  (mostly fascinating) Tea Party Congressional candidates who came into office 2010 after apexing with Glenn Beck’s march on Washington D.C.

    Five years later, the now-lauded Santelli could barely hold himself together when confronted with the truth about all of his economic predictions, libertarian-leaning economic ideas, and the current state of affairs in Congress when a CNBC host happened to point out that almost everything he had ever predicted had been terribly, terribly wrong.

     Santelli’s primary argument was that the President’s administration was going to essentially tank the economy by triggering rapid inflation leading inevitably to the devaluation of the Dollar as an international currency.

     The only problem with his argument is that none of this has occurred. On the contrary, the economy has been making steady gains in jobs and the GDP numbers even surprise optimistic economists. The dollar is remaining steady, albeit damaged from previous years, and there has been no hyperinflation as has been seen in places like Greece.

     For anyone who hasn’t been following the likes of Paul Krugman, Mark Thoma or Brad DeLong over the past few years, the substance of the argument here might be news in and of itself, but rather the rare occasion when an intellectual leader of Tea Party economics gets intellectually demolished on live television. Leave it to Steve Liesman to call out the devastatingly harmful, destructive stupid of Rick Santelli:

 “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.”

       Did Liesman’s thorough debunking of Santelli’s conservative cheer-leading change his mind? I sincerely doubt it. The likes of Tea Party Scions like Santelli have proven themselves incapable of looking inward or evaluating fact-based trends in, well, much of anything.

       What this segment does succeed at doing publicly is expose the weakness of the Tea Party’s claim to intellectual honesty. The very man whose ideas they have fallen back on for five years would rather leave a live interview instead of showing any pride in the success of his economic worldview - likely because that view has brought little, if any success at all.

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Comment Preferences

  •  Why isn't Santelli (5+ / 0-)

    on a Thorazine drip instead of being taken seriously on national television?

    "PLEASE STOP EATING ANIMALS" Fourth Grader's Crayon Poster.

    by Pirogue on Wed Jul 16, 2014 at 11:45:00 AM PDT

  •  There was a pretty extensive discussion of this (3+ / 0-)
    Recommended by:
    a2nite, rmx2630, SCFrog

    a few days ago here:
    http://www.dailykos.com/...
    But your synopsis is quite good.

    "Man's main task in life is to give birth to himself; to become what he potentially is." -Erich Fromm

    by nspguy on Wed Jul 16, 2014 at 11:49:27 AM PDT

  •  asdf (3+ / 0-)
    Recommended by:
    a2nite, ThePhlebob, SCFrog
    The very man whose ideas they have fallen back on for five years would rather leave a live interview instead of showing any pride in the success of his economic worldview
    How about simple pleasure in the fact that America's economic standing did not crash and burn as he predicted?  Isn't that what any America-loving patriot would root for, regardless?  What it really points out is that these people prefer clinging to their hate, no matter how much harm it does to America.  They're not patriots, they're self-serving megalomaniacs.  

    What the people want is very simple. They want an America as good as its promise. - Barbara Jordan

    by penelope pnortney on Wed Jul 16, 2014 at 11:52:55 AM PDT

  •  Tea party economics has always been a laffer. (2+ / 0-)
    Recommended by:
    PrahaPartizan, lapin
  •  He was wrong; I'm glad (0+ / 0-)

    I voted Tuesday, May 6, 2014 because it is my right, my responsibility and because my parents moved from Alabama to Ohio to vote. Unfortunately, the republicons want to turn Ohio into Alabama.

    by a2nite on Wed Jul 16, 2014 at 11:55:38 AM PDT

  •  Umm...Greece has not experienced significant (1+ / 0-)
    Recommended by:
    rmx2630

    inflation of any kind let alone hyperinflation.

    And btw, Krugman doesn't even understand how modern banks work so I don't know why he is so admired. (he thinks banks lend out your deposits when they make loans...hahaha.....what a laugher).

    "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

    by Auburn Parks on Wed Jul 16, 2014 at 11:59:20 AM PDT

  •  if he's the father then limbaugh must be grandpa (1+ / 0-)
    Recommended by:
    a2nite
    It was during a live report, when Santelli lost it and began loudly screaming about President Obama and the Pelosi-Reid liberal power-o-sphere over their support of the economic bailout.

        Well, all the elderly, white, rural, religious fundamentalist, usually Southern, Conservatives heard the call and made history - including the flood of  (mostly fascinating) Tea Party Congressional candidates who came into office 2010 after apexing with Glenn Beck’s march on Washington D.C.

    couldn't happen without decades of talk radio prep work creating the alternate reality (such as the horrors of canadian and european health care) that motivated these dipshits in their opposition to the public option and when the first debt ceiling of 2011 came around it was limbaugh doing more than a month telling them defaulting was going to be a good thing.

    the tea party is still the talk radio party

    This is a list of 76 universities for Rush Limbaugh that endorse global warming denial, racism, sexism, and GOP lies by broadcasting sports on over 170 Limbaugh radio stations.

    by certainot on Wed Jul 16, 2014 at 12:03:36 PM PDT

  •  The tea party was born on Jan. 21, 2009 (3+ / 0-)
    Recommended by:
    Gooserock, sajiocity, SCFrog

    ... When millions of crotchety old white fat-fuck rednecks saw the Obama inauguration, with millions of black, white, male, female, young, old, atheist, religious, people all marching on Washington D.C. in the belief they could accomplish some good for society, and the crotchety old white fat-fuck rednecks screamed, "we want our countree back!!!"

    And that's all the teabag party is or has ever been, a bunch of crotchety old white fat-fuck rednecks.

    •  Actually Web Domains Registered in 2008 (1+ / 0-)
      Recommended by:
      SCFrog

      per an earlier commenter, I think it was being set up to roll out for future president McCain or Clinton.

      All it is that's effective at anything is a handful of billionaires and lobbyists; rank and file wise, mostly as you say old whites and contrary to the expectation of the liberals, pretty much swamped by evangelicals.

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Wed Jul 16, 2014 at 12:32:40 PM PDT

      [ Parent ]

  •  "So the 'Father of the Tea Party' got (0+ / 0-)

    intellectually ruined on live TV five years later."  Yes.  But he was already an intellectual ruin by the time he started the Tea Party.

    A word to the wise is sufficient. Republicans need at least a paragraph.

    by d3clark on Wed Jul 16, 2014 at 12:44:57 PM PDT

  •  Santelli wasn't ruined or smacked down (0+ / 0-)

    He continually screamed over the other pundits' words such that Liesman's and others' comments could barely be heard. You can watch Liesman pausing and waiting for Santelli to stop ranting, and then starting again, only to have Santelli start yelling again.

    It's all about the anger for these people, while the polite, reasonable people try to have a rational conversation. This isn't a winning strategy for the reasonable people.

    I am sure that what Santelli's supporters saw was their guy standing up for them against some "big government nanny state" types who want to destroy capitalism.

    I think that Liesman would have been well served to have yelled back at Santelli. Maybe it wouldn't have changed any minds of TPers, but it sure would have stoked those who oppose these nutjobs.

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