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Rick Santelli Gives MSNBC Guest Ezra Klein a Lesson in Economics on Live TV

Aug. 5, 2011 4:48pm Buck Sexton

Rick Santelli, the man who’s 2009 firebrand speech on government spending is considered a seminal moment in the Tea Party’s founding, gave MSNBC analyst and Washington Post columnist Ezra Klein a stern lesson in free markets on MSNBC’s “Morning Joe” Friday morning.

Klein made some assertions about the financial crisis, including that most people agree two economists he cited have “done the best work on financial crises,” and then offered up that the role of the Federal Reserve is “often overlooked.”

Klein continued on and quoted one of his favorite economists calling for another ”round of significant inflation,” and then asked Santelli to respond to the assumption that a recession would cause money to move around in a way that is “unfair.”

That was enough to get Santelli riled up, and he responded to Klein that:

“Money doesn’t move around in ways that are unfair, money moves around because people that have it control or invest it…its theirs and they put it in places…any outside outsider looking at that process and using words like unfair just don’t understand markets and capitalism.”

Klein replied that Santelli’s response was beside the point. But that didn’t stop Santelli from delivering some strong parting shots as the segment closed:

” What we have is a bunch of entities that should have failed, it would have brought religion to the system, it would have been a good thing, but we prohibited that from happening.”

Watch the exchange below:

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Comments (253)

freedomisasfreedomdoes
Posted on August 5, 2011 at 5:15pm
Ezra Klein should talk less and listen more. Perhaps just maybe he might learn something. lol maybe…

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- cloudsofwar
  Posted on August 5, 2011 at 6:48pm
  if you don’t know what your talking about don’t bring it up, Kline. Santelli knows markets and knows how to use money. unfair? you and BO are unfair and ignorant. you socialist don’t understand capitalism.
  
  Report this comment
- HisStoryUn
  Posted on August 5, 2011 at 7:00pm
  Oops! I meant to say Santelli when I said Klein. My apologies…
  
  Report this comment
- GBMBulletsSKNRD
  Posted on August 5, 2011 at 7:08pm
  Azra,
  I am going to say it, you got picked on in school a lot and always went home to momma and cried Mommy they are picking on me again. Then mommy went to school and complained for you. Sum’s it up right? Time to cut those momma strings Ezra with a listhp.
  
  Everyone, I know, I know I should not be picking on him but I am just so tired of the crap they are pushing so I am pushing back. Just a little and maybe tomarrow a little more and the next day a little more and so on and so on until they get it.
  
  Report this comment
- Caniac Steve
  Posted on August 5, 2011 at 7:17pm
  Klein is a hack and Rick tok him to school i bet Rick doesn’t get invited back to Morning Joe or On msnbc again for a very very long time…
  
  Report this comment
- So
  Posted on August 5, 2011 at 7:28pm
  Preach it, Santelli! Hopefully the MAJORITY of voters agree with you.
  
  Sadly, he won’t be invited back to MSNBC. Doesn’t fit their “agenda”.
  
  Report this comment
rienheart
Posted on August 5, 2011 at 5:15pm
Allowing businesses to fail would have been the best way to go and make them stronger if they would have learned from their mistakes. They weren’t allowed to fail, so, now be ready for another round of mistakes and a QE3 big Mistake. More Bailouts again, because Eric Holder is Blackmailing and extorting Banks to make more unworthy loans to People who do not qualify and cannot pay their Mortgages. They are setting up for another Housing Market Collapse. All these things they have done from the beginning has been done to ruin America and Destroy the Economy. It is By design.
Kruschev said “We will Bury you from within” this was his plan and Obama is carrying it out.

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- Greenwood
  Posted on August 5, 2011 at 5:32pm
  As Bill O’ Rielly always says “keep it pithy”…………….well said and to the point it’s the way these Keynsians have handled the economy in a nut shell. Cloward – Piven…………………..
  
  Report this comment
- michael48
  Posted on August 5, 2011 at 5:33pm
  two ways to defeat a people…WAR or ECONOMICs…Libs haven’t a clue and are to “crap full of lazy” to do the WAR thang… RINOs have the college defermant plan…so, break the ECONOMY and ALL will be EQUALLY BROKE and prime serf-dwellars…the Dem/Rino Tards..(good cop/bad cop thing) BOTH with the NWO..CONTROL agenda…example: inner city =Concentration Camps…completely HELPLESS and TOTALLY DEPENDENT on WHOEVER is in CONTROL…give it a THOUGHT…been watching this movie 63 years and DON’T TRUST EITHER !!!!!!!!!!!!!!!!!!!!! TEA for ME !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  
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- JoeBtfsplk
  Posted on August 5, 2011 at 7:18pm
  @MICHAEL48
  
  you get it, and I got 2 years on you!
  
  Report this comment
- bikerr
  Posted on August 5, 2011 at 7:59pm
  @michael48—–Well put.
  
  Report this comment
- RepubliCorp
  Posted on August 5, 2011 at 10:21pm
  MICHAEL48 100% agree
  
  Report this comment
- Meyvn
  Posted on August 6, 2011 at 1:32am
  @michael48: Couldn’t have said it better myself!
  
  Report this comment
DESERT RAT 121
Posted on August 5, 2011 at 5:14pm
Its a pleasure to watch facts steamroll any liberal, fascist, socialist, toolongalist, to waste time on, and put it in it’s place!!!!!

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- Berealalready
  Posted on August 5, 2011 at 5:24pm
  I think I had an intellectual orgasm watching that. Pass me a cigarette.
  
  Report this comment
- gobnait
  Posted on August 5, 2011 at 7:02pm
  Hand one over here too, berealalready! There is nothing sexier and more satisfying than a money guy taking down a smug, uninformed liberal twit like Klein and handing him his manhood back to him on a plate.
  
  Report this comment
- shirelover
  Posted on August 5, 2011 at 8:35pm
  BeRealAlready – it took me a few minutes to figure out what the ******* were supposed to mean, then when I did I nearly shot the water I was drinking out of my nose. Laugh if you will…now I had to clean off the laptop and hope like heck it didn’t mess it up, how was I going to explain that one to the hubby?
  
  Report this comment
James
Posted on August 5, 2011 at 5:14pm
Twerp

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101
Posted on August 5, 2011 at 5:12pm
MSNBC is such a joke & the WH is MSNBC parent Company, go figure!

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Gonzo
Posted on August 5, 2011 at 5:11pm
“a debunked dogma”? The only debunked dogma is Keynesian economics, it has failed.

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LadyIzShy
Posted on August 5, 2011 at 5:09pm
nice to see someone standing up and telling it like they see it

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Gonzo
Posted on August 5, 2011 at 5:07pm
Ezra appears to be a typical lefty with no real world experience who likes to pontificate on theories he’s read about but not actually put to the test. Sound like anyone else we know?

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- sissykatz
  Posted on August 5, 2011 at 6:33pm
  Gonzo
  You are exactly right on that. Doesn’t it just make you sick to see people like this????? And someone
  elected one of those fools to run the country. He doesn’t have a clue.
  
  Report this comment
Stepaheaded
Posted on August 5, 2011 at 5:06pm
Rick has always understood. Rick for Sec. of Tres. 2012

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- vennoye
  Posted on August 5, 2011 at 5:18pm
  Had rather see him replace BEN!!
  
  Report this comment
- pschlentz
  Posted on August 5, 2011 at 6:40pm
  Obviously these pinheads can’t argue with the facts. That sissyboy got his A$$ handed to him!!!
  
  Report this comment
- Woman
  Posted on August 5, 2011 at 10:05pm
  Now this is an idea!!
  
  Report this comment
SUPPLY_SIDE
Posted on August 5, 2011 at 5:06pm
MSNBC constantly loads its questions with an introductory BS statement. Challenge the statement while answering the question and the libs get schooled.

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- seeker9
  Posted on August 5, 2011 at 6:05pm
  That tactic is used all the time by the libs. Think it is taught at lib indoctrination camp.
  
  Report this comment
Rick300
Posted on August 5, 2011 at 5:04pm
Morning Joe talking points prohibit any talking that make sense…nice going MSNBC!!! Keeps reinforcing why I prefer NOT to watch your channel!

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I.Gaspar
Posted on August 5, 2011 at 5:03pm
Probably should have knocked the little punk on his ass…

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IndyNWguy
Posted on August 5, 2011 at 5:02pm
I’m unsure if you’re being serious.

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Kurty C Wipe
Posted on August 5, 2011 at 5:02pm
Rick is the man! He was the one that started the racist terrorist group the Tea Party. Love it when attacks the bald dude whats his name.

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eagle2715
Posted on August 5, 2011 at 5:01pm
When ever you use facts against liberals, it’s always besides the point…

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IndyNWguy
Posted on August 5, 2011 at 5:01pm
Ezra Klein is an openly socialist puke.

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cece959
Posted on August 5, 2011 at 4:59pm
There is no more moving experience than watching someone with knowledge and experience putting some two-bit hack in his place. Well done, Mr. Santelli!

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- Oahujack
  Posted on August 5, 2011 at 5:08pm
  Notice how Klein uses the term “fairness” which is lib-speak for re-distribution of wealth. Who the hell is Ezra Klein anyway?
  
  Report this comment
- HKS
  Posted on August 5, 2011 at 5:10pm
  Bravo, at last someone with a brain, a mouth that works and the balls to speak the truth.
  
  Report this comment
- HKS
  Posted on August 5, 2011 at 5:41pm
  More amazing, he has been on msnbc for ever.
  
  Report this comment
capecodsully
Posted on August 5, 2011 at 4:59pm
Got that right, bankruptcy and redesign. Not bail out.

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- tower7femacamp
  Posted on August 5, 2011 at 8:07pm
  Satan has a plan
  
  Report this comment
WVBeagleMom
Posted on August 5, 2011 at 4:59pm
Libs never let a little thing like facts get in the way of their ramblings.

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Drakkhanlord
Posted on August 5, 2011 at 4:59pm
what a plss ant little pu ke…

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ronrayguns
Posted on August 5, 2011 at 4:58pm
Give the communists hell, Rick, good job. Everything these ‘fessor bone heads and say is wrong, wrong, wrong. Hey guys how about youtubin’ Milton Friedman, morons. Too much education and not enuff practical experience. Run a company and see what it’s like to make a profit, or you’re out.

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-Publius
Posted on August 5, 2011 at 4:58pm
Oh no, dont use the word religion, the libs will melt

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Captain Crunch
Posted on August 5, 2011 at 4:57pm
I hate these arrogant news people. They don’t do interviews with a goal of becoming informed. They just want to push their agenda. Just blame the Tea Party.

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- Shasta
  Posted on August 5, 2011 at 5:02pm
  You are right. I just saw a clip where the dems are now blaming yesterday’s huge stock sell off on the Tea Party. Wow
  
  Report this comment
- Shotgun167
  Posted on August 5, 2011 at 7:40pm
  I am a mite confused, though. I tend to flip the channels, ’cause I wanna hear first hand what both sides are saying.
  
  What I tend to hear on MSNBC is a few minutes of liberal BS followed by, “And with us now is to explain how is the truth.”
  
  What are they doing asking questions from someone that doesn’t mooch off other people’s work?
  
  Report this comment
- Shotgun167
  Posted on August 5, 2011 at 7:42pm
  Repost, cause angle brackets will cause words to be deleted.
  
  I am a mite confused, though. I tend to flip the channels, ’cause I wanna hear first hand what both sides are saying.
  
  What I tend to hear on MSNBC is a few minutes of liberal BS followed by, “And with us now is [pencil necked geek that has never had a job outside of college or government] to explain how [the load of manure I just spewed] is the truth.”
  
  What are they doing asking questions from someone that doesn‘t mooch off other people’s work?
  
  Report this comment
- Blue Collar Conservative
  Posted on August 6, 2011 at 2:18am
  We Tea Party folks are the new George Bush. The blame game is only beginning, soon everything bad under the sun will be our fault. It’s an election year, and you know how the libs are with the blame game.
  
  Report this comment
xoke
Posted on August 5, 2011 at 4:56pm
Owned!

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- Sy Kosys
  Posted on August 5, 2011 at 6:37pm
  Hey XOKE! LOVE THE AVATAR!!!!
  
  Report this comment
Drakkhanlord
Posted on August 5, 2011 at 4:56pm
Bitch slapped this little puke…

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- Drakkhanlord
  Posted on August 5, 2011 at 5:00pm
  sorry for multiples…thought was blocked
  
  Report this comment

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