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‘Oh, S**t!’: CNBC’s Santelli Gets Into Knock-Down, Drag-Out Shouting Match Over Jobs Report

Oct. 9, 2012 3:27pm Becket Adams

Rick Santelli, the man widely regarded as the founding father of the Tea Party movement, got into an incredibly intense shouting match Tuesday morning with CNBC reporter Steve Liesman over recent comments regarding possible election-year manipulation of the latest Bureau of Labor Statistics jobs report.

Things started poorly when CNBC host Joe Kernen interrupted an already irritated Liesman so that Santelli could weigh in on the issue. Santelli did indeed weigh in, arguing that the economy has not improved and that he predicted last month pre-election BLS data would show sizable decreases in unemployment and that it would be under eight percent.

“Take it any way you want!” Santelli said.

“Rick, what you’re implying with your comment –” Liesman interrupted.

“I’m not implying anything!” Santelli shouted back. “I’m telling you and it turned out that way! I’m a market whisperer!”

“Why say it?” Liesman asked. “It was the same point Jack Welch made.”

“Because it’s true! I like people to get the benefit of my 32 years in the market. There was no doubt it would be under 8 percent!”

“Why did you have no doubt, Rick?” Liesman persisted.

After this last question, Kernen mutters, “Oh, sh*t” (probably because he knows full well things were about to get real ugly for both CNBC contributors) and the fight is broken up:

Final Thought – As for Santelli claiming he predicted jobs data would improve as we get closer to the election, well, he did make the prediction [via CNBC]:

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RELATED:

Former GE CEO Resigns From Fortune Following Intense Criticism of His Jobs Report Theory

(H/T: Mediaite). This post has been updated.

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Comments (182)

ricckky
Posted on October 9, 2012 at 4:21pm
BTW–These so called lower unemployment #’s don’t make the white house look good–It just reinforces the fact that they are liars–following the lead of the LIAR-n-chief.–Notice how the white house is calling Romney a liar–which he is not–to defuse their lies.. Funny, but they are lying about lying–I HAVE NEVER SEEN ANYTHING LIKE THIS IN MY LIFE–PATHETIC AND SHAMELESS—-HURRY NOV.!!!!

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- Gold Coin & Economic News
  Posted on October 9, 2012 at 5:16pm
  This is pathetic! Of course the numbers were skewed! How else would you get an employer survey of 114,000 jobs and a household survey of 873,000 jobs created? That isn’t even possible. I hope Romney goes after Obama on this fake jobs crap in the next debate:
  http://www.youtube.com/watch?v=gLhzOPxcJNc
  
  Report this comment
- TexasIndependant
  Posted on October 9, 2012 at 5:28pm
  US Government reported a creation of 100,000 jobs and it put 800,000 people back to work doing it. How does that work? Does anyone even remotely believe this is the biggest decrease in unemployment in the last 30 years as they have reported? My math must be fuzzy. I keep using my calculator and trying to figure out how 100,000 jobs employees 800,000 people. Anyone have an answer for this?
  
  Report this comment
- DeniseR55
  Posted on October 9, 2012 at 5:46pm
  When you point the finger at someone, remember that there are three more pointing back at you.
  
  Report this comment
- FesteAinoriba
  Posted on October 9, 2012 at 6:00pm
  It is easy to modify the numbers simply be redefining what a job is. When receiving government handouts is considered being employed by the government and your paid job is to look for work – the numbers will go down drastically.
  
  The reality is that the government is ballooning: the biggest job growth is in the public sector, at the taxpayer’s expense or in private sector enterprises that are subsidized by government handouts (GM, Green Energy, etc….) This is NOT economic growth, but is Obama’s idea of creating jobs: growing government and regulatory agencies.
  
  Hey, what is your new job? Answer: “I’m a parasite on the economy, but I’m employed as a regulatory jerk to police you and make sure that you are being a good citizen comrade!”
  
  Report this comment
- RabidPatriot
  Posted on October 9, 2012 at 6:45pm
  This is not the first time these fraudulent unemployment #’s have been manipulated. In April of 2010, the unemployment rate rose to 9.9% and was threatening to go over 10% again. The summer election season started and the rate started dramatically dropping. The October rate was 9.5%. In November it went back up to 9.8%, right after the election. The real # is over 11%.
  
  Report this comment
- daxawyes
  Posted on October 9, 2012 at 7:41pm
  Is it just me or does Liesman look like an ostrich? For one, the shape of his head and two, he has his head buried in the sand.
  
  Report this comment
- justasurvivor
  Posted on October 9, 2012 at 8:38pm
  Really? It’s all up to “it depends on what the meaning of the word ‘is’ is”?
  
  Very fitting. There are many kinds of scr*wing.
  
  Report this comment
- techengineer11
  Posted on October 9, 2012 at 9:44pm
  I watch these guys all the time… One is Marxist and Jewish the other is not..
  
  Care to guess? lol
  
  One of my biggest objectives of posting on the Blaze past year or so is to get people to see the Liberal/Leftist/Marxist Jewish connection… As much as I’ve pointed it out and as clear as it is I still don’t believe the majority of people posting on the Blaze understand it…
  
  It’s like you are all robots… “God’s chosen people… must worship no matter what… Gods chosen people..worship.. They can do no wrong.. They’re all good because they are chosen and nobody else was chosen but the chosen…” lol
  
  Anyway maybe some day some one that doesn’t understand will eventually see the light.
  
  Report this comment
- Cemoto78
  Posted on October 9, 2012 at 10:13pm
  Obama, Valerie Jarrett, Rahm, Axlerod, Gibbs, Carney, Clinton (both of them), and a majority of the current regime have all been proven to be serial liars. Why would anyone believe these numbers are not cooked to favor the liar-in-chief. As stated in the article this just proves it and makes the Obama regime look worse and confirms their constant lies. Are you as tired of it as I am…….then make sure to vote for Romney and make sure all your friends, family, co-workers, and anyone you talk to does the same.
  
  Report this comment
- roagie1
  Posted on October 9, 2012 at 10:50pm
  anyone one with a IQ above three could of predicted the same thing .. I did long before this ,,, give em Hell Rick !!!
  
  Report this comment
- AKAknowitall
  Posted on October 9, 2012 at 11:36pm
  Actually, Gerbels was particularly fond of using this method of propaganda during WWII. Maybe I should start taking the long count more seriously…
  
  Report this comment
- damon_k
  Posted on October 10, 2012 at 5:11am
  The jobs numbers, along with all the other administration lies, reminds me of what George Goebels said, “If you are going to lie, lie big and lie often.” In this way you emotionally wear out your opponent by having to respond to so many lies. Read more insights at: http://smallcraftadvisorychronicles.blogspot.com/
  
  Report this comment
- jst1425
  Posted on October 10, 2012 at 5:35am
  Oh yeah…and Prezbo Odumb@ss says that oil drilling is up by 50% during his administration.
  But looks at the numbers…he regulated the drilling companies virtually out of business then, while under pressure for reelection, he issues a couple of drilling permits and two permits to the two remaining drilling companies…then well ahh….a whopping 50% increase in drilling is put out by his administration…ALL BS!
  
  Report this comment
- Pigpen
  Posted on October 10, 2012 at 7:49am
  RICCKKY posted: I HAVE NEVER SEEN ANYTHING LIKE THIS IN MY LIFE
  
  I HAVE seen this, Ricky! The neo-commie B@ST@RDS have been cooking the polling numbers for years! (Not to mention the ballot boxes! –Remember: The dead always vote DEMOCRAT!) Now, however, the unemployment numbers have been manipulated, and apparently THAT is just one lie too many! So now that “they” have LOST the good faith of us hoi palloi, “they” are panicking! It is soo much fun to watch! This is the PREDICTABLE reaction of our self-annointed leadership now that “they” are realizing that what Pat Buchanan calls a “Secession of the Heart” is WIDESPREAD!
  
  SILENCE CITIZENS! We are ABOVE all SUSPICION! We are your GOVERNMENT! We are your Harvard-trained UPPER CLASS! We are the TECHNOCRACY! Our NUMBERS are SACROSANCT! How DARE you little people QUESTION those of us who are graduates of the IVY LEAGUES!
  
  So SHUT UP and GET BACK IN LINE!
  
  “The secession taking place in America is a secession of the heart — of people who have come to believe the government is them, and not us.”
  Pat Buchanan
  http://buchanan.org/blog/secession-in-the-air-3584
  
  Report this comment
- poorrichard09
  Posted on October 10, 2012 at 9:13am
  Next debate is about foreign policy-Romney has plenty of “ammo” in light of the DISASTEROUS (sp) foreign blunders by 0bozo.
  
  Report this comment
- iampraying4u
  Posted on October 10, 2012 at 9:31am
  Drink more tea eat more chicken
  
  Report this comment
- techengineer11
  Posted on October 10, 2012 at 9:31am
  Pigpen: I’ve been following the little debate between Jack Welch and the Media over the employment numbers prettly closely… Very interesting that even the so called Conservative pundits in the Media especially the Financial Media attacked Mr. Welch on his clear and obvious concern over the numbers..
  
  Of course you and I know who this Media is and how closely they are connected with the Federal Reserve system and basically how rotten to the core this country has become as a result of the domination and apartheid of the ***. It’s almost comical when you know the truth.
  
  Hey who are those kids in your photo? Such a lovely couple… But that’s ok we can sacrifice them for the sake of Diversity, Multiculturalism, and Pluralism… Their lives and their families really don’t mean **** when it comes to advancing the cause of the wicked *** and their desire for Multicult in America at all costs..
  
  I just wonder my friend what is taken our brethern so long to wake up to the obvious? It’s concerns me that so many are so mentally dull although I do understand the desire to want to go to heaven really bad and not to question authority… The *** has a really good con game in place. Maybe the masses eventually see through it.. I just hate that we have to sacrifice so much and so many innocent people are slaughtered in the meantime as Glenn Beck and other Neo-Cons continue to blather about how we are all the same…
  
  Report this comment
- Bobj_1960
  Posted on October 10, 2012 at 9:50am
  @TexasIndependent – 100,000 jobs employing 800,000 people is 8 people per job (no rocket science there). Now, if each job ran 3 shifts for 7 days a week comes to 168 hours between 8 people. This means each person works (on average) 21 hours per week. Paying minimum wage this means each person earns $152.25/week. This is called putting our economy back to work (/endsarc)
  
  Report this comment
- KevINtampa
  Posted on October 10, 2012 at 1:37pm
  Fellas! Ladies!
  
  Listen up, you’ve got it wrong. Yes, employers hired 100,000 and 850,000 people got new jobs. That is reality. To get to that reality you simply must alter:
  1. Your basis for your logic.
  2. Your love of country.
  
  As far as logic, 2+2 used to equal 4. That doesn’t need to be true anymore. That’s a broken and flawed capitalist mindset. You will see how this new reality works when you realize 2+2=150,000 and 150,000=800,000. Once you see that you will feel better. Don’t you want to feel better?
  
  As far as your patriotism it’s misguided and has been subverted by the aforementioned flawed capitalist logic; that or your love of country simply isn’t strong enough. Are you saying this country can’t create 850,000 newly employed people in a month? Do you not want to see the American economy grow because you hate it? If you truly loved your country and are willing to sacrifice for it, you will believe that we had 850,000 newly employed people last month. If you believe it to be true, it is true. To deny the truth from the people who tell you the truth and who have the data and analysts needed for it is delusional. Such a delusion may seem harmless, but if left unchecked overtime it will become a threat to your country and its spirit.
  
  So, do you now believe it’s possible for 100,000 people to be newly hired in the last 30 days while also having 850,000 newly employed people in the last 30 days; or do you require additional re-education?
  
  Report this comment
- The Giver
  Posted on October 10, 2012 at 2:09pm
  Rick rocks! Someone has to say it even on an NBC station. Go Rick!!!!!!!
  
  Report this comment
- bravjim
  Posted on October 10, 2012 at 11:06pm
  How do you make that work? The same way you say you are protecting the right to life all while supporting abortion on demand. It’s called Obamath, and it’s done by violating the laws of mathematics just like they like to violate the laws of human nature.
  
  Report this comment
- Spirit 72
  Posted on October 11, 2012 at 7:36pm
  Piece of cake!
  Step 1: Make it so folks now work 28 hours to avoid horrific Obandaidcare, so you have to “hire” a lot more people to make up for the reduced workload.
  Step 2: “Change” the legislation so that those who have been looking for work no longer NEED to look in order to get all the freebies.
  Step 3: Then when those bad ole big corp bosses cut the work week and weekly pay, fine (tax) those who do not participate in a plan. Then watch the people get mad at the bosses…THEY caused this problem, not the communist-in-chief.
  Pie simple !!
  
  Report this comment
- semperfi1963
  Posted on October 16, 2012 at 6:42pm
  All the numbers and statistics from the Liberal bureaucrats that are entrenched in the labor department an every other government agency, are biased towards the administration. That is why every following month for 44 months they are REVISED DOWNWARD! These numbers will be revised downward also, but after the election. Bureaucrats fear cuts to the size of the federal government under Romney!
  
  Report this comment
SamIamTwo
Posted on October 9, 2012 at 4:20pm
Yeah, well I pray both Romney and Ryan drag Obama and Biden back into the FACTS. Just avoid falling into the liberal BS statements. Liberals are like small children. A needy group of people.

Obama’s numbers are down big time. The next debate should be real interesting.

Undecided is now LOW at 7%???

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Jedrin
Posted on October 9, 2012 at 4:18pm
The day Clinton got into office all of a sudden “sorry folks, this isn’t a recession, we made a mistake”. So how easy it is to forget. DC only looks out for DC. There are no “Independent” government workers; they all will do whatever it takes to keep their jobs. And the priority is electing Liberal Republicans or Dems.

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turkey13
Posted on October 9, 2012 at 4:12pm
Even Obama has got disillusioned with the economy! After anyone spent 5 trillion $$$$$ in 3 1/2 years and saw the unemployment figure get back to where you started, would have to say they failed. The main problem was Obama brought in Clintons people and forgot that they are 20+ years older and have smoke a bunch of joints and sniffed a bunch of Coke. That is what you call a cooked brain.

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elosogrande
Posted on October 9, 2012 at 4:10pm
The left has to get beligerant and turn this accustation into a fight every time it’s brought to light, because, when the facts come out, you will see that Obama and his fellow trravelers are the liars – not Romney. They can’t let that happen before the election. After the election, if they win, they will continue to control the data and keep on lying.

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Wool-Free Vision
Posted on October 9, 2012 at 4:09pm
It is painful to watch a liberal jerk being denied the gotcha moment they had their heart set on getting. Liesman is one of the most obnoxiously obstinate losers I have ever seen.

Watching Liesman stubbornly refuse to let his moment pass without getting the gotcha he wanted was akin to watching a fish flop around on dry land. The host kept trying to pick him up and throw him back in the water, but he would just slip from his grasp and continue flopping. Meanwhile, Santelli kept kicking him around and chuckling to himself at the flounder’s helplessness.

By the way, it’s an interesting coincidence that this jerk’s name is LIES MAN.

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- TyrannyNoMore
  Posted on October 9, 2012 at 8:22pm
  I like your analogy with the fish. Personally, I think liberals and progressives respond to the truth, much like Linda Blair responded to getting doused with Holy water in the Exorcist.
  
  Report this comment
- 2smartobeadem
  Posted on October 10, 2012 at 1:43am
  liesman letterman they are all the same. They cheat on their wives and love obama almost tigerish
  
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SamIamTwo
Posted on October 9, 2012 at 4:08pm
Dig out the data at BLS.GOV.

They are not covert but overt operatives.

ALL coos use their data…sheesh! And they all know the formulas are and will continue to be TWEAKED! But are they complying with the original intent of the public laws that keep them employed?

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beenaroundyaknow
Posted on October 9, 2012 at 4:03pm
Leesman is an idiot, someone so entranced by numbers that he can’t step back and see the forest for the trees. The U3 is such a red herring, it doesn’t even measure what it pretends to. How can the U3 drop 0.3 when the U6 doesn’t move at all. That alone shows it’s a made up number.

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mcsledge
Posted on October 9, 2012 at 3:57pm
You do the math:

Jobs Created in September 2012: 114,000 (increase of 6% over the last 11 months numbers)

Jobs gained by Household Survey in September 2012: 873,000 (increase of 49% over the last 11 months numbers in one month)

Jobs Gained Household Survey for last twelve months (including 873,000): 2,656,000
Jobs Gained Household Survey for the last forty months (including 873,0000): 2,801,000

If it smells like dung, it most likely is dung!

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- SamIamTwo
  Posted on October 9, 2012 at 4:04pm
  Nah it’s BLS.GOV.
  
  I had to use their data for over 33 years and know for a fact that they do make changes to the formulas. Inflation formula has been tweaked over many administrations…
  
  Again it makes me wonder who is running the ship. Federal employees doing it on their own? LOL
  
  Report this comment
- netmail
  Posted on October 9, 2012 at 4:28pm
  Forget the cooked books job numbers and look at every other number involving the human condition in today’s culture!! It’s clearly DISMAL. I want Democrats to be as marginalized as The Whig Party…in every county in America. It can’t happen soon enough!
  
  Report this comment
- 2smartobeadem
  Posted on October 10, 2012 at 1:40am
  Sounds like noise to me . Obama wants this to be a conspiracy because that is what he is.
  
  Report this comment
RETIREDUSAFDEFENDER
Posted on October 9, 2012 at 3:57pm
What the liberal media isn’t saying is they used a different sent of numbers to get to the figure. They randomly called 50,000 people and based it off of who had a job and who did not. Thats how they got the 7.8% Total B.S!! It is to make the WH look good and we all know they are from Chicago and will cook the books!

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- yiska8
  Posted on October 9, 2012 at 4:10pm
  The liberal media will never recover fully from their actions. They’ll peak with this election. History will show to those that write it down truthfully and tell it truthfully that this was the result of the USA having the first ever fully bought and paid for state run media complex. Should real journalism ever rise again, this time in our history will be pointed to as the lowest of the low. They won’t have to work as hard during Barry’s second term, but will have to put in extra time to manufacture a legacy and video for DVD purchase on his many media created successes.
  
  Report this comment
- SamIamTwo
  Posted on October 9, 2012 at 4:14pm
  Well let’s not forget early “lay away” program that cranked up temps…WalMart the second largest employer, first is the Gov’t, hired thousands of temps…
  
  I can’t wait for the revised number to come out next month…this is just sort of preliminary and the real numbers (adjusted) pop out next month. LOL
  
  Report this comment
nesmond
Posted on October 9, 2012 at 3:56pm
I hope the undecideds can see through this ruse and vote accordingly.

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- Magyar
  Posted on October 9, 2012 at 5:16pm
  The numbers show that has already happened….
  
  Report this comment
- rosegrower
  Posted on October 10, 2012 at 12:37pm
  If after three and a half years of an Obama economy there are still “Undecided” voters, I hope they stay home on election day. They are either too stoned to make any kind of judgment call or they are completely unaware of anything going on in the world.
  
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Carpy1
Posted on October 9, 2012 at 3:51pm
And the numbers will be “adjusted” lower very quietly after the election as has happened with every job report in recent history.

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Unbelievable
Posted on October 9, 2012 at 3:50pm
Any one would doesn’t know these numbers were rigged is a friggin’ idiot! Even my teenage kids figured it out.. It’s not rocket science…

Predictions were… 113,000 new jobs = 8.2 unemployment… revised to 114,000 new jobs = 7.8 unemployment… Well DOH!!!

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- mtcountrygrl
  Posted on October 9, 2012 at 4:46pm
  actually wasn’t it 115,000 jobs and 8.2% unemployment that was predicted? That’s what I thought I read, which makes it even funnier.
  
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DesdemonasCrew
Posted on October 9, 2012 at 3:48pm
Love the fire in that man! Must be a spot on the Romney team for him after January!

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rockmanlinux
Posted on October 9, 2012 at 3:47pm
I just wish he wasn’t yelling the whole time and talking. Him yelling his point, doesn’t help him show his position.

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- MAULEMALL
  Posted on October 9, 2012 at 3:59pm
  Yes it does it’s just the whiners who got caught trying to make excuses didn’t want him to speak…
  
  Report this comment
tmo
Posted on October 9, 2012 at 3:45pm
Liesman is such a joke — whenever he is on he is on as a Minder — never makes sense, just talking points. Santellis knows the Chicago gang and is right.

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ricckky
Posted on October 9, 2012 at 3:44pm
Typical lib–no facts, just butt ass mean and angry because he has nothing to back up these new unemployment numbers. No class just crass!!!! The LIAR-n-chief would be proud of him!!!

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TheTruthTruthTruth
Posted on October 9, 2012 at 3:44pm
4 more years of Obama, 5% unemployment and 100 million on food stamps

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- izzy1127
  Posted on October 10, 2012 at 2:07am
  WOO HOO!!!!!!!!!!!!!! Now that’s something to look forward too. Be careful; you will have some lib read this and start to drool……. R/R 2012
  
  Report this comment
HKS
Posted on October 9, 2012 at 3:41pm
It’s a shame this guy is wasted on CNBC, should be with someone that can appreciate him.

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- Let.Me.Be.Clear
  Posted on October 9, 2012 at 3:50pm
  He’s about the ONLY reason I watch CNBC anymore instead of Fox Business News.
  
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thegreatcarnac
Posted on October 9, 2012 at 3:40pm
We all…I mean all…predicted that the closer to the election obama’s Bureau of labor would cook the books and make the unemployment figure anything they wanted it to be. We are tired of the lies. The coincidence factor can now be predicted when observing the obama regime. Their marxist style campaign is predictable if you just look at the way communist took down other countries. Obama is trying to do that to us.

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toiletclogga
Posted on October 9, 2012 at 3:40pm
Forget the unemployment numbers! We’d better be more concerned with the participatory workforce numbers! They are at their lowest point EVER!

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Sloburn
Posted on October 9, 2012 at 3:38pm
No news here, Liesman has been a Obama butt boy since he was born.

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YtownSports
Posted on October 9, 2012 at 3:37pm
There’s no such thing as coincidence. Why is it liberals get flustered when challenged while they’re so good at flinging accusations to find out if something sticks?

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Snowleopard {gallery of cat folks}
Posted on October 9, 2012 at 3:34pm
Santelli – great job, the truth hurts to Liberalism – keep up the work.

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- Bluebonnet
  Posted on October 10, 2012 at 12:52pm
  Most of us could have predicted this, but I didn’t expect it would be below 7.9, surprise, surprise.
  
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Tri-ox
Posted on October 9, 2012 at 3:32pm
Liesman is a liberal jackass and he always gets upset when anyone questions anything obama or his administration does – Rick Santelli is spot on, as usual.

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- OhSuzieQ
  Posted on October 9, 2012 at 3:45pm
  Sho nuff!
  
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