- Prison Planet.com - http://www.prisonplanet.com -

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

Posted By admin On October 30, 2013 @ 6:18 am In Money Watch | Comments Disabled

Zero Hedge [1]
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…

Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/santelli-stunned-as-nobel-winner-fama-explains-fed-unwind-is-no-big-deal.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-10-29/santelli-stunned-nobel-winner-fama-explains-fed-unwind-no-big-deal

[2] Santelli: Get the Government Out of the Banking System: http://www.prisonplanet.com/santelli-get-the-government-out-of-the-banking-system.html

[3] Rick Santelli: Deflation Is The “Biggest Bogeyman In A Central Banker’s Closet”: http://www.prisonplanet.com/rick-santelli-deflation-is-the-biggest-bogeyman-in-a-central-bankers-closet.html

[4] Santelli on GDP Numbers: ‘Depressingly Weak’: http://www.prisonplanet.com/santelli-on-gdp-numbers-depressingly-weak.html

[5] Santelli: $4 Gas, $150 Oil Coming This Summer: http://www.prisonplanet.com/santelli-4-gas-150-oil-coming-this-summer.html

[6] Nobel prize winner — Ivar Giaever — “climate change is pseudoscience”: http://www.prisonplanet.com/nobel-prize-winner-%e2%80%94-ivar-giaever-%e2%80%94-%e2%80%9cclimate-change-is-pseudoscience%e2%80%9d.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.