Obama Seeking Emergency Camp David Meeting, Boehner Just Says No

Tyler Durden's picture

In the most dramatic example of someone give the teleprompter the finger on the debt target (f/k/a debt ceiling, in the pre Federal Reserve days), after earlier it was announced that Obama, so willing to continue the charade, was pushing for a Camp David meeting where the debt ceiling issue would be resolved, bunch-of-fat-old-men-locked-up-in-a-room-nobody-leaving-until-solution-is-reached style, Reuters reports that Boehner has politely refused this latest farcical denouement, and told the White House "that he sees no need to move the negotiations on debt and deficits to Camp David." In other news, it is now 7 days and counting until July 22.

From Reuters:

House of Representatives Speaker John Boehner, the top U.S. Republican, has told the White House that he sees no need to move the negotiations on debt and deficits to Camp David.

"The speaker has told the White House he sees no need to go to Camp David this weekend," Boehner spokesman Brendan Buck said on Thursday.

The White House had been weighing the idea of Camp David talks but no decision had been made and White House aides said there were "currently no plans for that."

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baby_BLYTHE's picture

interesting location, 'Tanks in the Streets' anyone?

Deepskyy's picture

You know, I was rather disappointed that Monday's speech didn't have any doomsday rhetoric in it. 


All joking aside, if this isn't theatre (big if) then we might be in for a wild ride in a few days.

Viva Apocalypse.


pesamystik's picture

Honestly Tyler, I get a little tired of your ploy for "ratings" on this site. You have already said that you know the debt ceiling will be raised. We all know these are theatrics. There is no way they are not going to raise the debt ceiling and yet some of your posts are designed to create an air of "suspense" to keep the crowd entertained and coming back for more. 

Every week there is some new event that "might" bring the markets down, like Greece failing to vote on austerity. Every single time the status quo is maintained. It's all a joke.

whstlblwr's picture

Easy solution, don't read.

Now I see their tongues they screaming so hard.

"[Sen. Cardin] He noted a default would threaten the position of the dollar as global currency and could cause the average American to pay an average $250 per year in interest. He said it would have a “dramatic” impact on the stock market and “may very well turn this nation’s course from growth to another recession.”

Sen. Chris Coons (D-Del.) said the impact on the dollar could mean high gas prices, utility bills and food prices."

Isn't it opposite? would raise dollar, gas prices down. They think we fools. Right now it seem politicians care more about China than American people

And Americans paying attention know it is not recovery. Recovery that staged in stock market is not recovery. Heaping trillions dollars to bank to raise stock market not recovery.

tip e. canoe's picture

"Isn't it opposite?  would raise dollar, gas prices down."

of course it will, which is why they're screaming the opposite.

"They think we fools"

yes they do.   it's called the okie-doke:


methinks definition #7 is most appropriate here.

pesamystik's picture

Some think it would cause a rush to safety, ie. boosting the dollar. However, my view is that it would hurt the dollar in this particular instance. U.S. would not exactly be the safe place to throw your money. As a result, a cheaper dollar would translate into higher gas prices. Except, it would cause oil to actually drop...since equity markets would tank. Not sure what the end result would actually be in the short-term based on all the variables.

That being said, it's not going to happen. The debt ceiling will be raised. 

And yes, I do realize Tyler's agenda is to make money first and foremost. I'm sure he makes a killing here on advertising, even donations. That's not to say I don't value the information that is put out on here from time to time, even the snarky commentary provided with it. Sometimes I just feel like things get a tad bit disingenuous and things appear to be a little bit transparently about the money. 

I mean, we could all call out the mania leading up to $50 silver in which there were predictions of silver skyrocketing all the way to $100. Of course, it still might, but there was no talk of silver dipping down to $33 before that happened. Or all the talk about LNKD tanking. Now that it's in the 100's, not a peep. 

That all being said, I still love zerohedge, it's one of the best sites on the internet. I just tend to take some of the info on here with a grain of salt.

whstlblwr's picture

What cause oil price to go up now is devalue of dollar by inflate of stock market. Stock market fake it not represent value create in economy.

If default, dollar goes up. Look at dollar now. It not crashing with fear index up. Dollar would go up. We need strong dollar for commodities and oil down. But they try to engineer oil down: Bernanke say no QE, it stupid.

(Moved response up since way down there.)

TruthInSunshine's picture

LNKD is the next AOL.

Back up the truck, because the 6  months lock up period means nothing in terms of te tankage that I and many others said will ultimately come, does arrive.


pesamystik's picture

I am pretty sure you're right. But these markets never cease to surprise me. If you had asked me if NFLX would have been hovering around 300 right now a year ago, I would have laughed in your face. Yet, there it is. Of course, a lot of these internet companies might implode sooner or later, it's just a matter of timing. I for one am not suggesting that LNKD is going to stay in the 100s, just that it is above it's opening IPO price. I wouldn't be surprised if it topped 150 in a few months, especially if QEIII is announced and risk-on trades become popular once again.

whstlblwr's picture

seem you try hard to look like trader to me.

SilverIsKing's picture


You truly think Tyler's mission here is to turn a profit?  That's absurd.  The ads generate revenue since it does cost money to run the site and put food in his stomach.  The fact that some of the news that you deem unfit for print is more an indication of the urgency given to get news up on the site as quickly as possible.

I think you've totally misunderstood what this place is about and what Tyler's intentions have been all along.

If he turns it into a pay site, then I may agree with you but until then, there's no way anyone can reasonably argue that he's in this for the money.

pesamystik's picture

I would not be surprised if he made close to a million a year on this site. If you think he is just putting "food" in his stomach off this site, you are very wrong. I could be radically off, but I know he is probably making at least a few hundred thousand. I am basing this on a New York Magazine article I read about ZH about a year+ ago when ZH was not nearly as popular and was not pulling in some of the high quality ads it has been running. I'm sure he loves calling out the system (as well as the rest of the team on this site) and getting paid for it at the same time but they are also getting paid a lot of money to do it. 

whstlblwr's picture

How else can you try to discredit ZH? And I hope they make trillions to get more news reporters and keep to report real news. I never believe other posters before about fake commenters but get that hair raise on neck feeling you from Treasury.

pesamystik's picture

Haha, like I've already said, I think the info on here is valuable and I like ZH, don't get me wrong. At the same time, it is not even entirely clear if there is more than one Tyler. I do not besmirch them making money. After all, there is a demand for the info on this site, and they should be well compensated as a result. I just don't like it to be too transparent (I suppose I'm quibbling here). Mostly, I was just pointing out some of the contradictory postings and "have your cake and eat it" attitude of ZH at times. When they're right, they go nuts throwing it in the MSM's face (as they should). However, when they're wrong, it's just brushed off and not mentioned. 

The ultimate agenda of this site (besides the nice perk of making money) is to bring down the financial system (this is my opinion). So, I realize that the info on here is not exactly supposed to be objective. When you're playing against the MSM and the financial oligarchy, you can't play fair. I suppose that might account for the somewhat bipolar nature of the blog posts on here. 

whstlblwr's picture

You so full of shit. The objective not bring down financial system from what read. It to report news, real news, not financial news sanctioned okay by White House or their corporate sponsors. Go troll somewhere else, or back to intern desk at Treasury, hope it not Geithner because if is should be screaming at Cantor right now.

I also believe when all this over in history Zero Hedge will get Pulitzer, honored for courage, truth in reporting.

tip e. canoe's picture

see Paper Street Soap Company

TruthInSunshine's picture

It is rumored that Tyler's house on Paper Street was purchased with a loan originated by New Century Financial in 2006, with a combined first and second mortgage of 3 million, and that a HELOC of 1.5 million was drawn against it, before it was bought by Maiden Lane Hedge Fund for 18 million taxpayer dollars, from JP Morgan (which had purchased it for $1 from the county treasurer when New Century Financial went bust).

By the way, Tyler still uses the home unfettered, and his luxury soap business, run from the basement, is booming.

SilverDosed's picture

A million a year on this site? Are you retarded? When's ZH having its IPO if thats the case.

Rynak's picture

A million in ads...... ROFLMAO..... do you have ANY clue at all about current revenue-potential of ads? Which year are you living in.... 1999, where ads were still paid per view and were measured in cents, rather than fractions of a cent?

At best, ad-income from this site per month, is measured in thousands of dollars, not tenthousands.

pesamystik's picture

Read this article and get back to me.


Zerohedge has an entire staff of people working for it. You're the one off your rocker if you think the site is only pulling in a few thousand a month.

Rynak's picture

So what? How is this relevant to what i wrote?

Is that all you got? The assumption, that because there are multiple tylers, the site must be making a million, completely ignoring nowadays ad-revenues?

Has the thought ever crossed your mind, that those who run ZH, may simply be doing it, to get a middle class income, for doing what one likes? Plus, with the understanding which the "staff" has, they may very well making good profits by doing what they claim.

Bottom line: You've got nothing but assumptions.

Oh, and by the way:


Bob's picture

Whatever motivation you attribute, the emphasis upon drama is characteristic, hell, even defining.  Note that, for this headline, the White House says it wasn't "planning" a Camp David meeting.  Maybe they asked for feedback on it as an idea . . . but would that strictly support the spin? 

That said, the "snarkiness" is fundamental and essential, goddamn it! and regardless of the "spin" exercised as poetic license in headlines, the actual substance is almost always included in the body of the article. 

StychoKiller's picture

Golly, how is Flash Gordon gonna foil Ming the Merciless' evil plans this time?  Tune in next week to find out!

Signed, "Every thing I need to know, I learned by watching TV"

hurdygurdypauliepoodle's picture

I will argue that this place used to be more about news and intelligent commentary and less about providig a place for tin hatters, Beckians, Teapotters and Rushtafarians to hang out...

I will argue that the owners of this site wish to remain anonymous due to the nature of the site (see above) and allow anyone to comment and to add thier blogs because (t(he)y) have become quite rich for the millions of hits.  Nothing says sell out like getting a lot of revenue for doing little other than provoking fear and teasing people's dark and curious sides, regardless of the truth or the outcome.  (ask Murdoch)

For proof that hits make money, see Facebook et al.  This may not seem reasonable to you, but few who are regular commenters here are what one might call reasonable people.


hurdygurdypauliepoodle's picture

Oh, and this is also a place where teens can escape and become experts and where adults can have adulation away from their humdrum lives simply by saying something that others can relate to.  It also is a place where you can garner a large audience and even influence the stock market...politics... etc.





whstlblwr's picture

Seem many here today want to discredit ZH.

I been reading blog for years, still same as before. But maybe it have more influence now, so status quo want to discredit in comments.

Illusion that things good is status quo strategy. ZH takes off illusion, it's why only news blog we read.

At night CNN with wife, but sometime propaganda too much so turn off or switch to Judge Napolitano on Fox. It hard for me and wife to understand why news think okay to lie to American people. Need courageous news producers. Courage lacking in America now.

Remember American vote for change and didn't get, maybe now we will vote again and get change.

blunderdog's picture

I don't think you have a very good understanding of the Internet advertising market.  Yes you can monetize a site like ZH, but Facebook isn't about "hits make money," it's about sharing subscriber information with true profit-model businesses.

As for the fact that ZH is overrun with whackjobs, agreed.  That's not the same thing as saying all regular commenters are whackjobs.

cranky-old-geezer's picture

If he turns it into a pay site, then I may agree with you but until then, there's no way anyone can reasonably argue that he's in this for the money.

A free site with high traffic can attract well-paying advertising and be more profitable than a pay site with its substantially lower traffic. 

Free high-traffic sites with advertising are the new paradigm.

whstlblwr's picture

Sorry, but you idiot. I own silver so pay attention and yes one of TD's said sell silver before dipped to $33. What is your agenda? Don't read, you don't like it, free country. Lots of feel good blogs to read.

What cause oil price to go up now is devalue of dollar by inflate of stock market. Stock market fake it not represent value create in economy. If default, dollar goes up. Look at dollar now. It not crashing with fear index up. Dollar would go up. We need strong dollar for commodities and oil down. But they try to engineer oil down: Bernanke say no QE, it stupid.

Bob's picture

Agreed on the silver.  Wish I'd gotten my ass down to the store to sell before it fell . . . but it looks good for the next couple weeks again anyway.  It's hard to regret having physical, good for so many situations.

tip e. canoe's picture

i/o/w the petrodollar will rise while the gloddollar will fall, yes?

but why would equity markets necessarily tank if $ move out of the Treasury markets?

Putty's picture

Until it isn't.  Stay tuned.

TruthInSunshine's picture

Anyone thinking the debt ceiling deal isn't already done and done is not being realistic (i.e. cynical enough of your "elected representatives").

It's in the bag.


In other news:

Only 1.7 million homes have gone into foreclosure in JUST the first 6 months of 2011, but there would have been 2.7 million homes going into foreclosure in just these 6 months if it weren't for 'paperwork problems,' so, just like the debt, these foreclosures will keep being kicked like an oxidized can down the street, until there are 15 million (or more) homes in foreclosure, piled up, like steaming heaps of cow dung.

What great progress!


Foreclosure Glut Pushes Filings Into 2012
oldman's picture

Morning Truth,

I woke up this morning with the sense that none of this is real.

All of it seems like theater compared to the forest. I'm getting tired of focusing on simple problems like these that we refuse to do anything about even though the solutions are obvious and simple. I've never met a horse, bear, bird, fish, mosquito-----any other species that is as so confused that it complicates EVERYTHING to absurdity.

Anyway---maybe there are no problems except in our mind

if the thing(whatever it may be) falls apart---so what---some will live, some will die----what changes---certainly not this species

PS    I hope this is real, I hope this is not real, I hope this is rreal, I hope this is not-----------------------

doing nothing was so simple---I'm going back to it

TruthInSunshine's picture

It is rumored that there will be a press conference, whereby Obama, in the Rose Garden, and with Bernanke and Geithner at his side, will announce his 2012 economic program to get the nation back in its feet.

It will entitled 'Mind Over Matter,' and the crux of the program will be that no matter what Americans see or are faced with in the difficult years ahead, "if they don't mind, it won't matter."


oldman's picture


This rumor is the final straw.

Everyone is doing nothing! Even the opposition----

Time for change-----What do we do?

I don't want to do a thing, but we've been co-opted by these bastards

Let me knoe what the do-nothing dudes have up our sleeve

You are the president, after all.


Quixote's picture


Your comment has an air of stupidity in it. It seems contrived to piss me off. It is a joke.

tip e. canoe's picture

everyone has an agenda stik.   perhaps tylers is page clicks.    what better way to keep em comin back then suspense?   remember twin peaks?

Ethics Gradient's picture


The reality is, critical readers should read analytic posts and the rest of Zero Hedge with the blanket assumption that the author is totally "conflicted." 

That's what Marla had to say on the issue.

whstlblwr's picture

I always think agenda to report atrocities. When you see so much fuck up and have access, don't want to report?

vib's picture

The process is like a standard movie plot, except the twist probably is that Obama is forced to veto the issue first as an emergency measure. I don't think they'll really go over the edge to just wind down government spending.

Fukushima Sam's picture

Let me guess, you have not read "Fight Club"...

Eireann go Brach's picture

Hey pesamystik..fuck off back to Kenya too!

camaro68ss's picture

Obama just wants to be close to the golf course so he can get some holes in before and after his meetings

TruthInSunshine's picture

Obama and Boehner are going to have a good laugh together about all of the reporting over their 'spat' at Bohemian Grove, as they smoke some Cuban cigars, wet their whistles with some fine cognac, and watch the Moloch sacrifice, that's for sure.

eureka's picture

But if "Boner" doesn't do the debt thing up how's PentaGun gonna get more new tanks?

Sophist Economicus's picture

They have nothing to worry about!   A democrat is in the White house - the odds of an all out war has a high probability (wilson, Roosevelt, Kennedy/Johnson, Obama....)

V in PA's picture

Obama is more like Buchanan. Setting the stage for an internal conflict that some Republican will have to fix in 2013.

Transformer's picture

You gotta be kidding.  That's funny.  LMAO


As long as the words, Democrat and Republican are a part of your working vocabulary, you are part of the problem, not part of the solution.