CNBC reporter Rick Santelli, whose 2009 rant on the floor of the Chicago Mercantile Exchange helped launch the Tea Party movement, was told that he has been wrong about everything during a heated on-air argument on Monday.
After Santelli offered a characteristically heated argument that the Federal Reserve has fallen behind the curve on inflation, CNBC analyst Steve Liesman stepped in to remind him that pretty much every prediction that he’s made since the financial crisis began has failed:
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. 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.
This being CNBC, Santelli was attempting to shout over Liesman throughout the entire discussion. But Liesman’s punch still landed nonetheless.
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