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Obama To Address Nation At 11:00 AM, Announcing Lack Of Agreement On Debt Ceiling, Or T Minus 10 Working Days Until T-Day

Tyler Durden's picture




 

After meeting for exactly 75 minutes, the president and members of congress achieved absolutely nothing except for what ZH readers already knew: that a debt deal has to be reached by July 22 or else. "President Barack Obama said Sunday that "we need to" work out a debt deal within the next 10 days as he convened a meeting with congressional leaders, aiming to fashion a deficit reduction package for the next 10 years. As the meeting opened, Obama and the leaders sat around the table in Sunday casual dress. Asked whether the White House and Congress could "work it out in 10 days," Obama replied, "We need to." Despite Boehner's preference for a smaller, $2 trillion plan for deficit reduction, White House aides said Sunday that Obama would press the lawmakers to accept the larger deal. Republicans object to its substantial tax increases and Democrats dislike its cuts to programs for seniors and the poor. The aides, however, left room for negotiations on a more modest approach." And just like on Friday when the president's appearance was heralded as a harbinger of a massive NFP beat only to be the biggest let down since Geithner's TV appearances in February which sent the market down by 10 S&P points each time, so the president will address the nation tomorrow. From Reuters: "U.S. President Barack Obama will hold a news conference at 11 a.m. EDT (1500 GMT) on Monday about the status of negotiations to cut the deficit and raise the debt ceiling, the White House said on Sunday. Obama met with congressional leaders for about 75 minutes Sunday evening and will meet again with them on Monday "to discuss the ongoing efforts to find a balanced approach to deficit reduction," the White House said, without giving a time for that session."

More from the AP:

"He's not someone to walk away from a tough fight," White House chief of staff William Daley said. "Everyone agrees that a number around $4 trillion is the number that will ... make a serious dent in our deficit." But embedded among the tough words was rhetoric that acknowledged the "big deal's" prospects had become uncertain at best.

"We're going to try to get the biggest deal possible," said Treasury Secretary Timothy Geithner.

It was an abrupt change from 24 hours earlier. Republicans late Saturday rejected the $4 trillion proposal, the largest of three under consideration, because its tax increases would doom it in the GOP-led House, Speaker John Boehner said.

The Ohio Republican informed Obama that a package of about $2 trillion, which bipartisan negotiators had identified but not agreed to, was more realistic.

Senate GOP leader Mitch McConnell of Kentucky left little doubt that the $4 trillion deal was dead.

"I think it is," McConnell said. Raising taxes amid 9.2 percent unemployment, he added, "is a terrible idea. It's a job killer."

The statements threw into question the extent to which the Sunday meeting, called for 6 p.m. EDT, would move the talks toward a resolution as an Aug. 2 deadline loomed. That's when the nation would begin to default on its debts, administration officials say, if no deal is reached to raise the borrowing limit from $14.3 trillion.

One thing is certain: with each passing day until July 22 or T-Day, the day by which Congress has to pass the debt ceiling legislation, of which there are precisely 10 working days, the market, which has so far completely ignored any concern about a failure in the debt talks, will start getting increasingly more nervous. As a reminder there is a 4 week Bill auction this Tuesday: the last one priced at 0.000%. If the logjam in DC continues after Monday, something tells us the government will not get ultra short-term funding for free.

As for the spin free interpretation of what the "deficit deal" means for America, read our previous observations on the matter here.

 

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Sun, 07/10/2011 - 20:51 | 1442253 DoChenRollingBearing
DoChenRollingBearing's picture

Bullish.

Sun, 07/10/2011 - 20:57 | 1442270 BlackSea
BlackSea's picture

For gold.

Sun, 07/10/2011 - 20:59 | 1442278 Long-John-Silver
Long-John-Silver's picture

and Silver

Sun, 07/10/2011 - 21:09 | 1442305 equity_momo
equity_momo's picture

My eagles arrive tomorrow. 10 weeks it took to get them at a large premium. The paper traders havent got a clue.

Sun, 07/10/2011 - 21:21 | 1442335 SwingForce
SwingForce's picture

And for Pabst Blue Ribbon Cans, ah smell the ether!

Sun, 07/10/2011 - 21:27 | 1442354 Long-John-Silver
Long-John-Silver's picture

Silver is above $36 again. I expect it to be slammed down again when New York opens. They've all been on vacation in the Hampton's so Silver and Gold went higher.

Sun, 07/10/2011 - 22:20 | 1442466 Dolar in a vortex
Dolar in a vortex's picture

Can we have a $1B pool to bet on what time he hits the teleprompter?

Cuz you know darn well it won't be 11:00am.

Sun, 07/10/2011 - 22:35 | 1442474 Michael
Michael's picture

Bullshit!

They are trying to pay for their own protection with the sheeple owned tax money!

They know a lot of their personal police state protection, through the Continuity of Government Program, will go away if they make significant cuts in government spending.

They're paying for their own physical protection with our money for Christ's sake!

Sun, 07/10/2011 - 23:23 | 1442562 dark pools of soros
dark pools of soros's picture

OUR money?  you better go re-read a dollar

Sun, 07/10/2011 - 21:20 | 1442334 DoChenRollingBearing
DoChenRollingBearing's picture

Well it´s still (9:19 PM ET) early action in gold trading in Asia, but both gold and silver

*YAWN*

are practically unchanged.

Probably a good time to go and get some more, as no one seems to care about more can kicking.  I guess they will care later on when kicking the can does not work anymore.

Sun, 07/10/2011 - 21:27 | 1442356 Spastica Rex
Spastica Rex's picture

Kicking the can always works. Forever. I'm serial.

Sun, 07/10/2011 - 22:00 | 1442426 Cheesy Bastard
Cheesy Bastard's picture

Kix always works, too.  I'm cereal.

Sun, 07/10/2011 - 21:21 | 1442291 DoChenRollingBearing
DoChenRollingBearing's picture

¨Bullish¨.  And of course what I mean is, even down here in Peru for a few days:

1)  The Rs will cave (again) and/or

2)  Even if they don´t, the Tresrev will find some phony-baloney to keep it all going (printing the money or whatever) and/or

3)  Suspend our outflank that pesky constitutional business I have read about and/or

4)  Cook the books again and/or

5)  Just do it however, as the State Run Media will not care to report anything important.

---

What I do not see is the political honesty and fortitude to address our nation´s overspending.  Seems not enough want to solve anything.

---

A data point for Cognitive Dissonance!  Ain´t none of that cognitive dissonance down here in Peru!  NO ONE worries about that kind of stuff (.gov lying, crooked bankers, the cops shooting on the folks, etc.)!

Everyone here knows the government lies, banks steal and yes, the cops will shoot!

I will have to ask my in-laws if there is even the CONCEPT of cognitive dissonace here...

Sun, 07/10/2011 - 21:13 | 1442320 Twindrives
Twindrives's picture

Obama will announce that he and Holder have a bold plan to sell even more guns to narco terrorists in Mexico.

Sun, 07/10/2011 - 22:09 | 1442444 SparkySC
SparkySC's picture

Buy CAD/AUD/GOLD/SILVER/ grow maize and spinach and raise chickens/ stockpile vodka, wine, chop sticks, lube, and porn, you never know who will invade.

 

Mon, 07/11/2011 - 01:52 | 1442794 fockewulf190
fockewulf190's picture

"I shall not seek, and I will not accept, the nomination of my party for another term as your president."

President Barack Obama ala President LBJ

July 11th, 2011

11:05 AM EST

Sun, 07/10/2011 - 20:55 | 1442254 bob_dabolina
bob_dabolina's picture

Anyone want to take bets on how late he is? 

I think he's only 30 mins late for this one.

Regardless, I think seeing as we're having problems paying our bills, Michele Obama should take another $500,000 a day trip to Africa.

....let's take these negotiations seriously folks.

Sun, 07/10/2011 - 21:45 | 1442399 knukles
knukles's picture

Goddamn right.  Gotta take this shit serious like.  And them pecker-heads show up in Sunday casual. 
If I were a Senator...yes, a Senator.  I'd be Senator Philip A. Bluster (who was in a story somewhere, talks like Foghorn Leghorn) Ranking Member and Chair of the Newly established Senate Hindsight Committee, and By God, We Shall Never, Ever Run Out of Things to Question After the Fact, Nor Plain Downright Second Guess, Everybody Should be goin' in their Sunday Finest Come to Jesus Meeting Clothes.
I seriously hope all them Fucking Dumb as a Post Mainstream Media Liberal Make No Sense Types choke to fucking death on their holiday dinners, reporting about an imminent default because the debt ceiling won't be raised.

Jesus H Fucking Keeeeerist, for how long do people like that get paid to recite political propaganda, pablum, and perceptional crap.

Even the President and his most senior aides and advisers, supposed to be in the know on this shit, n'cest pas?  Same drivel and chickenshit, trying desperately to confound, confuse and panic the public for narrow political purposes in the never ending election cycle.

And the sheeple (who are really not that dumb as given a lack of credit for, and if they were that dumb, there would be no worries about alternative media) are really expected to take this charade seriously?  

Insert finger until reach prostate.  Rub vigorously.  Attend important meeting.  Kiss baby.  Insert finger.... 

Sun, 07/10/2011 - 22:36 | 1442484 goldfish1
goldfish1's picture

is anyone watching

Sun, 07/10/2011 - 22:45 | 1442496 ssp2s
ssp2s's picture

My bet is that he shows up on time this time.  Note that they set this for the later 11:00 am start, so I believe they learned their lesson and won't do anything earlier than 11:00 again.  So, see, they ARE capable of learning.

Sun, 07/10/2011 - 20:53 | 1442260 Arius
Arius's picture

certainly hope the market takes it well ...

Sun, 07/10/2011 - 21:01 | 1442283 Long-John-Silver
Long-John-Silver's picture

up triple digits in the morning, as always.

Sun, 07/10/2011 - 21:15 | 1442323 Arius
Arius's picture

yep...time to buy... again...

Sun, 07/10/2011 - 21:06 | 1442296 fellatio is not...
fellatio is not fattening's picture

HOPE is not a strategy nor a plan

Sun, 07/10/2011 - 21:47 | 1442408 knukles
knukles's picture

.... it's an adventure

Sun, 07/10/2011 - 21:50 | 1442409 knukles
knukles's picture

Like waking up in the middle of the night in a cold sweat with the monster from your dreams really chasing you around the bed, gettin' ready to stick it to ya, one more time....

Sun, 07/10/2011 - 20:56 | 1442262 equity_momo
equity_momo's picture

Is he going to be a half hour late again then make some pithy soundbites before fucking off to the golf course without taking so much as a "hey Prez , is it true Pelosis growler tastes like pennies?"

Heaven forbid he be accountable for anything or even answer a question (not that those fucking pussies in the press pack ever ask anything more difficult than "whats Michelle wearing tomorrow")

Ive got your hope and its buried in the same cemetary as change.

Sun, 07/10/2011 - 20:57 | 1442267 czarangelus
czarangelus's picture

Guys, we all know there's not a chance in Hell they'll let the debt default while there's still another six months of can kicking available to them...

Sun, 07/10/2011 - 21:11 | 1442313 Boilermaker
Boilermaker's picture

They sure as fuck will default on debt.  They'll default on the debt and obligations they owe their own citizenry.  You can fucking count on it.

Sun, 07/10/2011 - 21:25 | 1442351 DoChenRollingBearing
DoChenRollingBearing's picture

Well, we´ll see because I do not know (Bearings don´t have clues).

Whether they default or not, having a nice little pile of gold should give anyone some comfort.

Sun, 07/10/2011 - 21:27 | 1442355 Boilermaker
Boilermaker's picture

I hope you're ready to defend your gold with a gun.  Because, you can bet those short and curly hairs on your ass that they'll confiscate it by making it illegal to hold it.  They've done it before and they sure-as-shit will do it again.

Sun, 07/10/2011 - 21:42 | 1442385 DoChenRollingBearing
DoChenRollingBearing's picture

I´m there dude.

See my below comment about how that WILL STOP after 20 - 50 Fascist Thugs go down trying to break into people´s homes trying to confiscate gold & guns.

Sun, 07/10/2011 - 22:33 | 1442478 redguard
redguard's picture

Ultimately I think that is what TSA is for, they won't come to your house looking for bullion.

Their just going to make it damn difficult to get it out of the country, that's why they pay particular attention to the very young and old. Examining diapers for example

Mon, 07/11/2011 - 05:06 | 1442897 dognamedabu
dognamedabu's picture

Swim the Rio Grande. Mind you, weighed down with all that gold that may not be the best idea. Better plan, drive to the Montana/Alberta boarder and bribe some Hutterites to let you in using their fields. Better still become one and live the good 'ol life being a chicken boss. 

Sun, 07/10/2011 - 22:24 | 1442471 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The government asked for gold in FDR's day and people gave it to them willingly because they believed the government acted in the best interest of the people.  Today, people do not trust the governemnt, and how would the governemnt know I have PMs?  They wouldn't.

Sun, 07/10/2011 - 22:01 | 1442430 Ying-Yang
Ying-Yang's picture

Boilermaker you got junked (not by me) but I smell a well thought out play evolving.

Team Red and Blue playing a game of chicken.

What do the Banksters really want? Do they want us to be in the same position as Greece?

Pissed off enough to demonstrate while austerity is imposed to pay down the debt that we had no say so over. Think of the end game of globalization and how a US default will add to their incrementalist approach.

Sun, 07/10/2011 - 22:20 | 1442463 snowball777
snowball777's picture

They want more free QEroin.

Sun, 07/10/2011 - 20:57 | 1442268 SwingForce
SwingForce's picture

Where art thou, O Debt Brother of mine?????

Sun, 07/10/2011 - 20:59 | 1442276 Long-John-Silver
Long-John-Silver's picture

Time to break the ties and leave the Union. Succession is the only way free states can rid themselves of a bankrupt Kleptocracy. No need to worry about another war of aggression by the Yankees. Their too busy with four wars in the Middle East and the continued occupation of Germany, Japan, and Korea. 

Sun, 07/10/2011 - 22:03 | 1442433 Bobbyrib
Bobbyrib's picture

Best of luck.

Sun, 07/10/2011 - 22:24 | 1442470 snowball777
snowball777's picture

Secede.

You went to a private prep school?!

Sun, 07/10/2011 - 22:33 | 1442480 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What is needed is for constitutional monie to be issued.  Otherwise, America's decisions will be made by international bankers.

Sun, 07/10/2011 - 20:59 | 1442277 disabledvet
disabledvet's picture

state of denial=state of emergency.

Sun, 07/10/2011 - 21:00 | 1442281 Everyman
Everyman's picture

BTW if you think "tech stocks" are the way out, llok at what the Nvidia President and CEO did this last week, sold aver 6 million dollars worth of share!

 

http://finviz.com/insidertrading.ashx?oc=1197649&tc=7

Sun, 07/10/2011 - 21:00 | 1442282 oogs66
oogs66's picture

he is a great campaigner...shitty president but great campaigner

Sun, 07/10/2011 - 21:02 | 1442288 equity_momo
equity_momo's picture

Send his ass to China then and get them to buy more worthless IOUs.

Sun, 07/10/2011 - 21:03 | 1442290 Long-John-Silver
Long-John-Silver's picture

If you wanted someone that would destroy the USA, you picked the one.

Sun, 07/10/2011 - 22:04 | 1442437 Bobbyrib
Bobbyrib's picture

The US needs more partisan fools.

Sun, 07/10/2011 - 22:36 | 1442485 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What?  Get real.  He left his campaign to order Congress to bail out the banks.  He didn't fool me.  I didn't vote for him.

Sun, 07/10/2011 - 21:03 | 1442289 Dre4dwolf
Dre4dwolf's picture

"Or else" what?

 

Government shut down? GOODRIDDENS

Government shrinking ? Good

Government defaulting? About time, everyone else has anyway its the new "in thing".

Marshal Law? This is America, the police weigh 400 LB they aint going to take charge of anything, they are too dumb to organize any kind of "marshal law".

 

So what do the American people have to lose ? NOTHING.

 

Sun, 07/10/2011 - 21:05 | 1442294 equity_momo
equity_momo's picture

What will scare the politicians into doing a last minute deal is the realization that the productive part of American society will get on just fine , even excel , without a government.  Imagine the consequences....

Sun, 07/10/2011 - 22:42 | 1442494 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If you are ready for the dollar to fail, then this is true, but most people will get their minds blown when they find out the dollar is as fictitious as leprechauns.

Sun, 07/10/2011 - 21:05 | 1442295 Long-John-Silver
Long-John-Silver's picture

They might discover the police are on the other side of the barricades with the citizens.

Sun, 07/10/2011 - 21:11 | 1442315 DoChenRollingBearing
DoChenRollingBearing's picture

We hope.  Cognitive Dissonance himself wrote some 6 weeks ago that they might be conditioned to fire upon us.

Hard to say how that issue would break...

Sun, 07/10/2011 - 21:22 | 1442338 Long-John-Silver
Long-John-Silver's picture

The thing about "Real Americans" is they will fire back, and in greater numbers.

Sun, 07/10/2011 - 21:28 | 1442357 DoChenRollingBearing
DoChenRollingBearing's picture

All that we ¨Real Americans¨ need to do is kill some 20 - 50 Fascist Thugs breaking in (should it come to that), and they will STOP trying to confiscate our gold and/or guns. 

Word would spread REAL FAST in the LE commuinity.

Sun, 07/10/2011 - 21:29 | 1442364 OrestesPenthilu...
OrestesPenthilusQuintard's picture

They are conditioned to fire upon us - it's already happening.  Bill Cooper was telling us this in the 1990's.

Sun, 07/10/2011 - 22:44 | 1442501 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The steriod heads will shoot in a second, and the guns will be trained on the poor folks first, but step in the line and it won't matter if you are wearing vercace shades.  Kent State, bitchez.

Sun, 07/10/2011 - 22:05 | 1442441 Ying-Yang
Ying-Yang's picture

RollingBearing dude... take Katrina as a dry run. How many NOPD left the ranks to watch over their families?

Who watches your family when you are gone? 

Sun, 07/10/2011 - 21:04 | 1442292 fellatio is not...
fellatio is not fattening's picture

90 minutes, where do they find the time?  Our country is "publically" in default in 10 days (some already know we are) and they spend 90 minutes and agree to speak again tomorrow, what else did they have to do, investigate baseball?  Tell the drug companies to give away meds?  Make paper signs to hold up in 11 days saying "will work for food" what a fucken joke

Sun, 07/10/2011 - 22:48 | 1442508 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Bam had to hit the links.

Sun, 07/10/2011 - 21:07 | 1442297 sabra1
sabra1's picture

so, he's going to address the nation to get us deeper into debt, when the present debt load will never be paid off anyhow. is this weird, or what? i just love the theatre!

Sun, 07/10/2011 - 21:11 | 1442304 bob_dabolina
bob_dabolina's picture

If he had a dollar for every golf ball he's swung at he could have had our national debt paid off last year.

Mon, 07/11/2011 - 04:43 | 1442886 Yen Cross
Yen Cross's picture

 ROLMFAO!!! +2

Sun, 07/10/2011 - 21:46 | 1442403 nmewn
nmewn's picture

Ping!

Negotiations to raise the government debt ceiling...lol.

A good starting example (for a real leader) would be the voluntary forfeiture of all their present wealth, along with their pensions, for having ushered government to this pivotal point with their outstanding stewardship of it.

Now, what are those odds? ;-)

Still not accepting false premises on this end.

Sun, 07/10/2011 - 22:51 | 1442513 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Washington and Jefferson both died broke because they sold off most of their property to pay for America's debt.  Not bad dudes for it.

Sun, 07/10/2011 - 23:53 | 1442620 DoChenRollingBearing
DoChenRollingBearing's picture

I did not know that, Mr Lennon.

BRAVO to you for letting us know.  Real Americans.

And so a special:

+ $36

to you!

Sun, 07/10/2011 - 21:07 | 1442299 DormRoom
DormRoom's picture

well I can now mark down on the calender when the likely day for a mass extinction event will be.

Sun, 07/10/2011 - 21:30 | 1442369 OrestesPenthilu...
OrestesPenthilusQuintard's picture

Sayonara useless eaters!!!

Sun, 07/10/2011 - 21:08 | 1442302 lynnybee
lynnybee's picture

ditto to everything all the other guys said above !   disgraceful, it's all such a travesty & disgrace to the decent, hard-working, salt-of-the-earth Americans.    .......... sic of the whole sorry scene.

Sun, 07/10/2011 - 23:01 | 1442528 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

you write funny !   ........ why ?

I've notice you write the same funny way everytime.  Voice is still voice even when puncuation is changed.  Voice is very obvious.  In fact, punctuation can not hide it.

Sun, 07/10/2011 - 21:08 | 1442303 Boilermaker
Boilermaker's picture

Time to walk up the futures all night long and have a positive open, spike during the newser, and then a late day rally to get the masses into a roll-your-sleeves-up fervor.

I suspect by the time I squeeze out my morning loaf the futures will be +60 on the DOW...maybe more.  If there are visible peanuts in it, I'll go +80 but not more.

Sun, 07/10/2011 - 23:10 | 1442536 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No way.  Bernanke is testifying this week, so that means gold will stay at premium, and equities will be weak.  Then look at the cyclical trend:  equities failed to make new highs.  They will wash the range back to support during the next several weeks.  Bernanke will not need much to switch from QE Light to QE 3.  All he needs is a raised debt ceiling.  So unless the debt ceiling is not raised, and if it is not then say goodbye to the dollar, then he will get back on his Trojan Horse, and monetize more trillions of dollars.

Sun, 07/10/2011 - 21:10 | 1442306 Sooth
Sooth's picture

11AM?

What parts of The Nation are home watching TV at 11 AM on a Monday morning?

Sun, 07/10/2011 - 21:11 | 1442314 QQQBall
QQQBall's picture

Obama's base, that's who. ;)

Sun, 07/10/2011 - 21:30 | 1442367 DoChenRollingBearing
DoChenRollingBearing's picture

 

:)   :)   :)

:)   :)   :)

:)   :)   :)

Sun, 07/10/2011 - 23:18 | 1442546 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Whose base won't be?  Palin's base will be at the library reading The House of Rotheschilde: The World's Banker?  Romney's will be at the museum attending the Picasso exhibet?  All bases are unemployed, and have false hope.  The only real candidate is Paul, and his base appears to be inactive.  Where are you Paul supporters?  Marching?  Striking?  Having a sit in?  Naw, you are listening to Alex Jones do your work for you.

Mon, 07/11/2011 - 01:37 | 1442773 baby_BLYTHE
baby_BLYTHE's picture

Sadly I do agree with you the Paul supporters are dead as of now.

What was needed is another economic emergency like we had in 2008 which will certainly come once again before the next Presidential election.

Paul gained enormous credibility as he had predicted the inveitable credit bust as a result of Greenspan's ridiculous amount of monetary easing post-tech wreck

Mon, 07/11/2011 - 08:25 | 1443113 krispkritter
krispkritter's picture

I believe Paul supporters are working. One reason it makes it harder for them to provide support other than dollars. And we know the 'funny munny' in elections, like '08, can't be matched by the real constituency. If that line of 'credit' is never closed, any real candidate doesn't have a chance...

Sun, 07/10/2011 - 21:30 | 1442368 mr. mirbach
mr. mirbach's picture

The NSA will be pissed that BHO will be pre-empting The View!

Sun, 07/10/2011 - 21:56 | 1442422 knukles
knukles's picture

So that's why he wants a kill switch for the Internet.  Get all the SEC examiners off the transmission sites so the ratings go up.  Crafty shit them Illuminati folk be teachin' him.

And WTF is he gonna say again, already, that we haven't heard yet, anyhow?
Oh well, once a community organizer, always a community organizer.

Sun, 07/10/2011 - 21:12 | 1442316 equity_momo
equity_momo's picture

His electoral base , if they are out of bed by then or Judge Judy isnt on at the same time.

Sun, 07/10/2011 - 21:18 | 1442330 bob_dabolina
bob_dabolina's picture

QQQ & equitymo - 

You got it all wrong. 

You guys are forgetting it's Monday. His base doesn't wake up until at least 11:45 AM. 

Sun, 07/10/2011 - 21:22 | 1442343 Boilermaker
Boilermaker's picture

Lightest trading volume of the day and, therefore, the easiest to manipulate the indexes for a better show.

Sun, 07/10/2011 - 23:31 | 1442566 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Until the Algo Machines from Hell follow Greenlight's lead.  Light volume days are the easiest to play, from both sides of the trade.

Sun, 07/10/2011 - 21:41 | 1442383 lynnybee
lynnybee's picture

11AM?

What parts of The Nation are home watching TV at 11 AM on a Monday morning?   ....

Price is Right is on !  Drew Carey is doing a great job replacing Bob Barker.   You know, when there are no decent jobs to go to, you just stay home & live under the radar & as frugally as you can.   It's actually cheaper to stay home & watch the Price is Right than to go to a $8.50/hr. job !   By the time you pay for a car, pay for gasoline, pay for a lunch, subtract Federal & State & Social Security taxes out of that shitty little paycheck, YOU MIGHT AS WELL JUST STAY HOME & WATCH THE PRICE is RIGHT !  IT'S CHEAPER .

Sun, 07/10/2011 - 23:16 | 1442549 snowball777
snowball777's picture

Plus you can laugh about the similarity between the market and that yodeling mountainclimber...

http://www.youtube.com/watch?v=QqMVjsaGEZo

Save Hans!

Sun, 07/10/2011 - 21:46 | 1442404 dow2000
dow2000's picture

The only one that matters to this fucking puppet: Wall St., we watch TV all fucking day (CNBC, Bloomberg, CNN, etc.).  I every 10 feet there's a 55 inch plasma on every single trading floor.  Not to mention the TV feeds traders get directly into their computers.

Sun, 07/10/2011 - 21:49 | 1442411 nmewn
nmewn's picture

;-)

Sun, 07/10/2011 - 21:10 | 1442311 PulauHantu29
PulauHantu29's picture

The "Q" is why didn't his majesty resolve the tax issues last December instead of pushing for changes now?

 

Sun, 07/10/2011 - 21:10 | 1442312 QQQBall
QQQBall's picture

Watching these hacks jockey for election position is disheartening. Now the Dems are posturing as the debt reduction kings and will blame Repubs if the cuts are only $2T. I say throw them all out -send a message for real this time - HOPE AND CHANGE! The 'pubs should tell PrezO $4T and no new taxes and then sit back until he caves. The problem is that politically the Pubs don't want to give OBummer and issue - the economy sucks and he is toast.

QBz debt reduction package centers around "shrinking the empire" - like err NATO for starters?

Sun, 07/10/2011 - 23:37 | 1442595 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So you want to keep the ponzi running, but you want to kill all of the poor and old people.  Yeah, well, like Calvin said, 'I am going to heaven, so I can do what the fuck I want!'

Mon, 07/11/2011 - 00:13 | 1442647 QQQBall
QQQBall's picture

Learn to read you fucktard. How does shrinking the empire by disbanding NATO kill little children - did you mean like in Belgium or what?

Listen up... people paid too much for house and now underwater - lose house, cry me a river and move to apt - I do not want to pay. People spent all they made and borrowed more and then lost job and run out of TWO FUCKING YEARS OF UE bennies - I do not want to pay. Min wage man stick pecker in min wage wife and make new welfare, WIC, free-medical baby every 12 or so months; I do not want to pay. PERIOD.  Simple? Not for Palin, not for Obama, not for Blue or Red. Wake the fuck-up - the whole Right/Left; Liberal/Conservative; Red/Blue, Donkey/Elephant... Seriously, wake the fuck up.

First the Pubs want -$4T, but the DEMS want higher taxes... hmmm, so the pubs go for $2T with no taxxes over like 10 years, which will not even cover 5 quarters the way The Messiah hands it out.  Then the DEMS move to actually get to a point to scare the shit outta everyone by sending out warning letters to all SS recipients, vets, etc., and make the Pubs look like shit. The 'Pubs know The Messiah is in deep shit and may be beatable, so the last thing they want is an issue he can stand on... Oh yeah, deficit (let alone debt reduction), that was never the issue anyway. The system is broken, but all you wanna do is call people "Palin supporters" or baby killers or whatever.  Here is a link to you:

www.yahoo.com

 

 

Mon, 07/11/2011 - 04:55 | 1442892 Yen Cross
Yen Cross's picture

+1 QQQ

Sun, 07/10/2011 - 21:12 | 1442317 mynhair
mynhair's picture

Wow!  90 minutes before someone had to puke!

Must be a record when confronted by TOTUS.

Sun, 07/10/2011 - 21:29 | 1442362 Cheesy Bastard
Cheesy Bastard's picture

I like your style, cat.  And I'm not just sayin that cause I'm 2 steps down from you on the food chain, either. 

Sun, 07/10/2011 - 21:42 | 1442387 mynhair
mynhair's picture

O great, need to wipe the keyboard again....

Sun, 07/10/2011 - 21:13 | 1442319 digalert
digalert's picture

I Barack Barry Hussein Soetoro Obama what's his name, declare, today, we must maintain laser focus on jobs, and the children, amnesty and education... While Bush ran the bus in the ditch, I been gunnin it back and forth till, well, I fried the transmission and siezed the motor. Now we need a new bus.

 

 

Sun, 07/10/2011 - 21:18 | 1442331 Twindrives
Twindrives's picture

Ha, that's funny! 

Sun, 07/10/2011 - 22:08 | 1442447 knukles
knukles's picture

I therefore hereby declare the Nubian Underpriviliged Minority Behind Nomore Unemployment Transition System (NUMBNUTS) to begin immediately building buses for our Million Man Motorcade to Motown Party and Double Our Fucking Export Program.
By appointing Dr. Paul Krugman, a preeminent Neo-Keynesian economist with absolutely no common sense nor management experience as the programme's leader with this great and simple empty gesture, I, the Leader of the Most Powerful Nation on Earth have saved or created 3,040,017 jobs.   

Sun, 07/10/2011 - 21:15 | 1442321 RobotTrader
RobotTrader's picture

Bonds and U.S. Dollars are flying in Asia as "Risk Off" resumes.

Sun, 07/10/2011 - 21:16 | 1442327 equity_momo
equity_momo's picture

stfu i dont need your weatherman skills to tell me currently what the weather is like outside my front door.

Sun, 07/10/2011 - 21:23 | 1442346 Boilermaker
Boilermaker's picture

You don't like the Monday Morning QB?  Golly, that's odd.

Sun, 07/10/2011 - 21:29 | 1442365 Arius
Arius's picture

euro crashing on the news !

got to be in before the market opens...

Sun, 07/10/2011 - 21:37 | 1442376 Long-John-Silver
Long-John-Silver's picture

TPTB came in early and are hammering Gold and Silver right now. It's so obvious to anyone and everyone. BTFD Bitchez!

Sun, 07/10/2011 - 21:38 | 1442378 DoChenRollingBearing
DoChenRollingBearing's picture

@ RobotT,

Not a surprise!

Nobody cares!  Until they do...

---

Anyone take that Monster Box you offered a while back?  Gold bull Bearing admired your guts (and timing as it turns out).  If you still have it, might just want to keep it now...

Detractors of the Robot might want to look at his TRADING calls, which were pretty good as far as I can recall.

---

The Robot just might want to think about more PMs for the long run though...  I just LOOK at the PM prices each day...  Until I get extra money and then BUY no matter what those prices are.  Why?  Because my gold is not leaving my hands, until given away...  When it will be worth a fortune.

Sun, 07/10/2011 - 21:15 | 1442322 mynhair
mynhair's picture

$10 trillion in cuts, or bust!

(Tea Party offer)

Sun, 07/10/2011 - 23:19 | 1442556 snowball777
snowball777's picture

How cute; the Tea Party thinks they have a seat at the table.

Sun, 07/10/2011 - 21:15 | 1442326 random shots
random shots's picture

You kiddies really need to brush up on your history. Same thing happened in 02 (including raiding government retirement accounts) and the debt ceiling was increased. The debt ceiling has been increased 69 times since 1917 and some have come down to the last minute (literally). Google debt ceiling articles and the same drama goes back to 1967. Those wish to see how this drama has been played out before can google "The Debt Limit: History and Recent Increases" You folks really think Congress has grown a conscious? They will continue to kick the can.

Sun, 07/10/2011 - 21:24 | 1442347 Atomizer
Atomizer's picture

Actually, it was in 1995-1996 GAO vs. Cock block administration

GOA -Click here

 

Same fears, different era, and same outcome.

Sun, 07/10/2011 - 21:29 | 1442363 random shots
random shots's picture

Perhaps we can crowdsource this and find all historical instances about debt ceiling drama.

Sun, 07/10/2011 - 21:57 | 1442419 dwdollar
dwdollar's picture

There's always a chance these arrogant incompetent pricks delay an agreement significantly past expectations.  This in turn triggers a sh*t avalanche in the market which we all know is built up well above safe limits.  History is filled with small incidents which trigger sh*t avalanches.

Sun, 07/10/2011 - 21:17 | 1442328 firefighter302
firefighter302's picture

"...to cut the debt and raise the debt ceiling."

Think about that for a second.

 

Sun, 07/10/2011 - 21:31 | 1442353 bob_dabolina
bob_dabolina's picture

Anyone who listens/reads to what comes out of DC is subject to a mycotic brain aneurysm and possible bleeding of the eyes/ears while simultaneously suffering from an acute myocardial infarction.

Make sure it's done in small doses if you feel the need to take on that type of risk and consult with your physician.

 

Sun, 07/10/2011 - 22:14 | 1442453 HungrySeagull
HungrySeagull's picture

Every word that comes out of Ben or Obama is sufficient to induce Insufficienty into anyone' Cardiac system. If left in situ long enough, it will kill em.

Mon, 07/11/2011 - 04:49 | 1442888 Yen Cross
Yen Cross's picture

 It's all that Yeti lunch his (Wookie) wife serves up. That could clog a Volcano in Iceland!

Sun, 07/10/2011 - 22:13 | 1442452 HungrySeagull
HungrySeagull's picture

Default and then continue as if nothing has happened?

Reaches for the Bromo...

Sun, 07/10/2011 - 21:22 | 1442340 zorba THE GREEK
zorba THE GREEK's picture

 It's all the voters' fault. What did they think was going to happen when they elected

 president whose party symbol is JACKASS.  

Sun, 07/10/2011 - 21:24 | 1442349 BlackholeDivestment
BlackholeDivestment's picture

...relax, the Washington Monument will remain open, at a cost to tax payers rather than tourists, and ...will still be screwing you by Noon. http://www.youtube.com/watch?v=TAyWvcIFfy4

http://www.youtube.com/watch?v=ClKioZqOi5s

Sun, 07/10/2011 - 21:28 | 1442352 djsmps
djsmps's picture

So, if I tune in around 12:15, and wait a few minutes, I might catch der Fuhrer's speech?

 

Sun, 07/10/2011 - 21:29 | 1442359 mynhair
mynhair's picture

Correct.  Needs to happen when Rush starts his monologue.

Sun, 07/10/2011 - 21:29 | 1442358 km4
km4's picture

Before I speak, I have something important to say.

- Groucho Marx

I'm sure Pres Teleprompter will live up to it ;)

 

Sun, 07/10/2011 - 21:39 | 1442380 mynhair
mynhair's picture

That was just me taking a leak outside, but thank you for your concern.

Sun, 07/10/2011 - 21:40 | 1442382 Cheesy Bastard
Cheesy Bastard's picture

Just back from Tokyo, are ya?

Sun, 07/10/2011 - 21:45 | 1442400 mynhair
mynhair's picture

No.  Back from Fukisima.  Nice to be able to see that running water at night.

Easier to fill bottles.

Sun, 07/10/2011 - 21:50 | 1442414 Cheesy Bastard
Cheesy Bastard's picture

Ok, but now the only excuse you have for missing the bowl at night is that you were absolutely wasted.  Usually a grimy handprint on the back wall just over the toilet tank is corroborating evidence.

Sun, 07/10/2011 - 21:52 | 1442415 mynhair
mynhair's picture

Errr, got me.  When were you in my terlot area?

I am not wasted, I'm hammered.

Wasted is 4 rum cokes from now.

Sun, 07/10/2011 - 21:57 | 1442423 Cheesy Bastard
Cheesy Bastard's picture

That is when the yard looks like one big litterbox. 

Mon, 07/11/2011 - 01:43 | 1442783 HungrySeagull
HungrySeagull's picture

No.

A friend got epic wasted one time LONG ago.

He staggered out on what was left of his own power and collapsed to his knees and puked.

That was 9PM at night when the party was just getting going.

The roar of the dry heaves through the window lasted until about 7 am the next morning and then silence.

That was the end of him. But at least he saw the sun.

Sun, 07/10/2011 - 21:31 | 1442366 mynhair
mynhair's picture

I tried to tell you klowns Friday, this is not the cave you're looking for.

Most of you are so out of touch, it's as pathetic as the Dims.

Re-elect OweBama!

Vote Ron Paul!

Sun, 07/10/2011 - 21:34 | 1442371 Cleverbot
Cleverbot's picture

I'll be nice and let you choose between Canadian and American dollars.

Sun, 07/10/2011 - 21:42 | 1442384 BlackSea
BlackSea's picture

You guys got it all wrong!

At 11AM tomorrow the teleprompter a will announce the end of the NFL lockdown. Like he gives a rat's ass about USA's finances anyway...

Sun, 07/10/2011 - 21:43 | 1442388 trampstamp
trampstamp's picture

Probably all the unemployed.

Sun, 07/10/2011 - 21:43 | 1442391 Atomizer
Atomizer's picture

The teleprompter will tell us how America can contain this transitory blip. John Boehner will supply crocodile tears to set drama, fear and voter discontent.

Kittie - Immortal

http://www.youtube.com/watch?v=DG2qhVN6x34

Mon, 07/11/2011 - 01:47 | 1442788 baby_BLYTHE
baby_BLYTHE's picture

Very Nice, that track rips!

Sun, 07/10/2011 - 21:43 | 1442393 israhole
israhole's picture

Who gives a rat's ass?  You've been robbed of everything. Not only your money (and subsequently your future), but your freedoms as well.

I could not care less what these assholes promise, just hang the Israel-first traitors and we're on the way to  recovery.

 

Sun, 07/10/2011 - 21:44 | 1442395 Everybodys All ...
Everybodys All American's picture

Our government was never meant to function in this manner. The House needs to pass what they believe is right and the senate should as well. The bill should be reconciled and passed on to the president. This type of deal making behind closed doors is not and I repeat not the way our government was meant to function.

Sun, 07/10/2011 - 21:56 | 1442421 CrashisOptimistic
CrashisOptimistic's picture

Suppose it won't reconcile?

Sun, 07/10/2011 - 21:44 | 1442396 Fix It Again Timmy
Fix It Again Timmy's picture

They worked 90 minutes straight?  I'm sure that calls for a one week recess...

Sun, 07/10/2011 - 21:46 | 1442405 silvertrain
silvertrain's picture

watch out for the okie dokie, we have another 11 am news conference..

http://sports.yahoo.com/golf/blog/devil_ball_golf/post/Tiger-Woods-set-t...

Sun, 07/10/2011 - 21:46 | 1442407 mynhair
mynhair's picture

This affects the Casey Anthony jury beat down how?

Sun, 07/10/2011 - 21:48 | 1442410 mynhair
mynhair's picture

Oh, look!  Au is up a whole .31!

Oh happy daze!

http://www.youtube.com/watch?v=SLY7yI1xV-M

Sun, 07/10/2011 - 21:49 | 1442412 f16hoser
f16hoser's picture

Perhaps Obummer will announce the new "Gold-backed Iraqi Dinar?" That would be really KOOL!

Sun, 07/10/2011 - 21:59 | 1442425 New_Meat
New_Meat's picture

"He's not someone to walk away from a tough fight,"

"PRESENT"

- Ned

Sun, 07/10/2011 - 22:04 | 1442438 Cheesy Bastard
Cheesy Bastard's picture

+1, although my position on that is evolving.

Sun, 07/10/2011 - 22:01 | 1442429 Sathington Willougby
Sathington Willougby's picture

Pigs get fat, hogs get slaughtered.

This is one huge filthy stinking rotten hog.

 

Sun, 07/10/2011 - 23:19 | 1442555 HungrySeagull
HungrySeagull's picture

With all the moldy paper now stacked higher than mountains and converted to bits (Confetti) for storage convience, it should be enough to smoke sufficiently adequately the hog.

Sun, 07/10/2011 - 22:05 | 1442439 chet
chet's picture

Not much he can do anyway.  As we run out of time, Obama is increasingly irrelevant.

We're waiting on legislation, which comes from the legislative branch.  The problem here is that Boehner can't pass shit through his own majority. 

Have you all thought about that?  Why doesn't he use his big bad majority, and 2010 mandate to just pass the deal however he wants through the House and then drop it on the Senate's doorstep.

It's because he can't.  Obama can't run Congress for them.

Sun, 07/10/2011 - 22:12 | 1442450 Bobbyrib
Bobbyrib's picture

Who gives a shit why they can't pass it? Both parties are screwing us by adding debt to cater to their interest groups of choice.

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