Rick Santelli, the CNBC personality who’s been credited with giving rise to the tea party movement, was told on-air Monday that he’s been wrong about pretty much everything.
The always-wired Santelli, reporting from his perch on the floor of the Chicago Board of Trade, was fired up as usual, fulminating about how the Federal Reserve is behind the curve on inflation.
When Santelli asserted that he was right on the issue all along, he drew applause from some Chicago traders.
Enter fellow CNBC analyst Steve Liesman, who proceeded to list off Santelli’s litany of errant forecasts.
It’s impossible for you to have been more wrong, Rick. Your call for inflation, the destruction of the dollar, the failure of the US 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. Lost people money, Rick. Every single bit of advice. There is no piece of advice that you’ve given that’s worked, Rick. There is no piece of advice that you’ve given that’s worked, Rick. Not a single one. Not a single one, Rick. 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.
All the while, Santelli continued to shout over Liesman.
Santelli remains best-known for his famous 2009 rant, when he said the country needed another tea party to support capitalism.
“All you capitalists that want to show up to Lake Michigan, I’m going to start organizing,” Santelli screamed as the Chicago traders voiced their support.