I don't watch CNBC. Ever. I just clicked on the link and watched the part where Rick went off about inflation. And he was exactly correct, in my opinion.
The only thing that Santelli does is relay what the markets are telling him . . . It is easily done. The "talking-heads" on CNBC ( like "Dennis the Menace" who has still yet to figure out what Fed Funds are and how they relate to intra-market spreads and monetary policy ) just haven't ever had an Economics class to learn how to "listen" to what the markets are reflecting. What Santelli does is nothing new. But amidst all of the MORONS on CNBC, his commentary and thoughts appear almost "ground-breaking" in nature.
While I agree that it's largely worthless, there are times where it has given me a heads up to breaking information. To each his own.
Just watched the video (thanks for posting). As usual Santelli is on his game. Also as usual, the new guy, Dennis Kneale, is a fool (or an idiot). One of the things I love about the current situation is that you have reasonably-intelligent people with diametrically opposing positions on what to do or where the economy is going. Santelli says that inflation risk is huge and Insana just got done saying that he thinks the Fed will have to act like Japan and take rates to zero. He feels that almost no one has yet grasped how bad the financial situation is .... Bottom line - mkt volatility stays high as the pendulum swings between the 2 camps. R
Yeah Rick is definitely the best on CNBC. He hears it straight from the traders and he gives it straight, plus he know what hes talking about.
Why some people believe they can gain an edge trading when watching TV is beyond me. I never watch CNBC other than those Youtube videos when they have something funny to show.