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Santelli Stunned As Nobel Winner Fama Explains Fed Unwind “Is No Big Deal”

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Zero Hedge
October 30, 2013

If ever there was a few minutes of television to confirm the deep-seated disconnect between reality and the ivory-tower academics pulling the levers behind the curtain, CNBC’s Rick Santelli just exposed it. For once, simple questions were enough to allow none other than Nobel-Prize-winning economist Eugene Fama to show Santelli (who did his best not to explode in incredulity) that the “smartest people in the room” just don’t get it (just as they didn’t get it in 2007). Santelli was gracious and polite as he asked what the great professor’s thoughts were on QE… (and the entire brief clip is worth watching in its entirety) but his conclusion is perhaps the most stunning (and left Santelli almost silent)… when asked the impact of the Fed ‘Tapering’ or even selling down its $4 trillion in assets, Fama calmly says “it’s basically a neutral event… It’s No Big Deal!” Indeed, professor, that is so clear…

“What the Fed is doing now… is kind of a nothing activity.”


Or the Hollywood version…

This article was posted: Wednesday, October 30, 2013 at 6:18 am





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