UPDATE: NYT Full Of Crap Jay Carney Says.... Here It Comes: Obama and Boehner Close To Major Budget Deal, Long Bond Surges

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Thu, 07/21/2011 - 12:42 | 1477519 Commander Cody
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No doubt, it will be uber bullish.

Thu, 07/21/2011 - 12:46 | 1477531 spongeBOB
spongeBOB's picture

Good for +7pts on the SPX.

Thu, 07/21/2011 - 12:56 | 1477601 Ahmeexnal
Ahmeexnal's picture

comical. shortest lived "rally". How many seconds did it last?


Thu, 07/21/2011 - 13:11 | 1477671 TruthInSunshine
TruthInSunshine's picture

That would be so unfair if any bond traders just got wiped out because of a New York Times propaganda/planted/hit piece.

Has anyone seen Andrew Ross-Sorkin, by the way?

Hey, now that I think of it - where's Judith Miller?


Anyways - this New Normal is so fun! Never a dull moment, rumors just whizz by every fraction of a nanosecond, and the inverse of the inverse of the rational is the most or least likely to occur/or not.

Thu, 07/21/2011 - 12:56 | 1477604 Cognitive Dissonance
Cognitive Dissonance's picture

Round trip baby.

Was that as good for you as it was for me.

Lie to me if it wasn't.

Thu, 07/21/2011 - 12:59 | 1477619 Cdad
Cdad's picture

Having my after rumor cigarette now.  

Nice Ponzigasm.

Thu, 07/21/2011 - 13:09 | 1477674 stewie
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Thu, 07/21/2011 - 13:11 | 1477695 Van Halen
Van Halen's picture


Thu, 07/21/2011 - 13:52 | 1477851 I Am The Unknow...
I Am The Unknown Comic's picture


(that's what Ponzi said  :>0)

Thu, 07/21/2011 - 13:02 | 1477632 Blano
Blano's picture

Hell that wasn't even enough time to whip it out.  (for me anyways)

Thu, 07/21/2011 - 13:22 | 1477745 Cognitive Dissonance
Cognitive Dissonance's picture

Just call me Quick Draw McGraw.


Thu, 07/21/2011 - 22:42 | 1479527 StychoKiller
StychoKiller's picture

El Kabong FTW!!

Thu, 07/21/2011 - 13:04 | 1477640 wsmith
wsmith's picture

The rally continues.

The DOW is up by 158 points.

We have no power.

And Steve Lisman still wants head.

Now get on your knees, bitches.

Anyway, so long.

And God bless all you Marxist cocksuckers.


Thu, 07/21/2011 - 14:13 | 1477943 Spastica Rex
Spastica Rex's picture


Thu, 07/21/2011 - 14:41 | 1478056 cosmictrainwreck
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no... that would allow non-responsiblity; the dude's just fucked-up

Thu, 07/21/2011 - 13:14 | 1477708 spongeBOB
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I put it an order at the time of the spike to short FAS @ 26 but didn't hit :(

Thu, 07/21/2011 - 22:42 | 1479524 StychoKiller
StychoKiller's picture

I'm NOT believing any of this until someone sprinkles some pixie dust on my unicorn skittles!

Thu, 07/21/2011 - 13:20 | 1477739 slaughterer
slaughterer's picture

20 ES points on Greece.

another 20 or so ES points on USA

puts us at a new 52-week sugar high!

Robo must be rolling in it. 

Thu, 07/21/2011 - 12:46 | 1477532 Ahmeexnal
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uber bullshit

Thu, 07/21/2011 - 13:04 | 1477652 SWRichmond
SWRichmond's picture

Yes, but damned entertaining.  I can't even begin to describe how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem, one of their own making, and one that existentially threatens their survival.  It's the goddamned funniest thing I've ever seen.  It's been hard for me to work, I am spending so much time laughing my ass off.

Thu, 07/21/2011 - 14:12 | 1477937 sgt_doom
sgt_doom's picture

"..how much genuine enjoyment I have gotten these past few weeks watching these establishment politicians squirm with a genuine intractable problem.."

I'm fairly certain that's not what you've been observing, but simply the usual "political theater of the absurd" -- meant to confuse and bewilder the lowbrows (guess who falls into that category???) while passing the original recommendations of Obama's Bowles-Simpson Deficit (privatize or kill Soc. Sec. and Medicare) Commission.

And never forget, long-time private banksters Erskine Bowles sits on the board of directors of Morgan Stanley***, while his wifey sits on the board of directors of JPMorgan Chase.

***"Out of all borrowers, Citigroup received the most financial assistance from the Fed, at $2.5 trillion. Morgan Stanley came in second with $2.04 trillion, followed by Merill Lynch at $1.9 trillion and Bank of America at $1.3 trillion."



And the GAO study (thx to youse guys, I loves youse):




Thu, 07/21/2011 - 13:05 | 1477663 Gene Parmesan
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It provides a nice insight, however, to how things will move when the thespians down in DC inevitably reach agreement on how they're going to screw us over. Gold's and silver's reactions are good examples.

Thu, 07/21/2011 - 12:46 | 1477533 bill1102inf
bill1102inf's picture

DOW +500 soon!

Thu, 07/21/2011 - 12:52 | 1477571 DonnieD
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Correct me if I'm wrong, but didn't we rally 200+ the other day on a debt deal. Now we're gonig to tack on another 200+ again. They should announce another deal tomorrow and we'll be at Dow 13,000

Thu, 07/21/2011 - 12:57 | 1477605 chartcruzer
chartcruzer's picture

forget this bullshit circus and the equities markets

take a good long look at the shape of the long term parabola forming on


Ill bet we have a least of few more years (of kick the can) to finish the part of the curve before it goes vertical.

easy as pie!

Thu, 07/21/2011 - 13:20 | 1477740 EscapeKey
EscapeKey's picture

Yes, but that was yesterday, and today is today. News today is news today, even if they're recycled.

Unless, they're negative, of course. Then they're "priced in".

Thu, 07/21/2011 - 12:46 | 1477534 Mike2756
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wonder what threw stocks into a fit of ecstasy.

Thu, 07/21/2011 - 12:56 | 1477599 dracos_ghost
dracos_ghost's picture

EU "Marshall Plan". Forced credit expansion to the stars baby.

Thu, 07/21/2011 - 12:47 | 1477537 Iriestx
Iriestx's picture

It's almost as if this is just some political kabuki-esque farce to cover over the fact that both parties made a decision months ago to eliminate your SS benefits, and this act is just something they're doing to legitmize it.

Thu, 07/21/2011 - 12:54 | 1477574 Cognitive Dissonance
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I would say they knew they were going to cut SS, but they wanted to engineer a compelling reason to be 'forced' to do so. Presto chango, we now have a terrible crisis ready and waiting because they just couldn't agree to raise the debt ceiling. Like magic.

When someone doesn't want you to do something that you want to do, find some way to get them to beg you to do what they originally didn't want you to do.

"Suddenly I have a terrible tooth ache. Please smash my fingers so I'll forget about the tooth ache."

Thu, 07/21/2011 - 12:59 | 1477616 Subprime JD
Subprime JD's picture

I was thinking the same thing CD. It was given that they would raise the ceiling, the question was what they are going to cut and how will they make it acceptable to the public.

Thu, 07/21/2011 - 13:53 | 1477854 SheepDog-One
SheepDog-One's picture

Eat your peas.

Thu, 07/21/2011 - 13:08 | 1477669 Oh regional Indian
Oh regional Indian's picture

Seriously CD, anyone seeing such brilliant moves has to know that there is a plan. THe whole system of how US laws get written and passed, and all the things that are "stuffed" into them... it's really quite masterful, these lawyers and acountants in CONgress had it all figured out for them by some genius strategist. He either left a blue-print or a brilliant plan at the very least.

It's working like clock-work.


Thu, 07/21/2011 - 14:16 | 1477961 Spastica Rex
Spastica Rex's picture

CONfidence game. The marks keep playing.

Welcome to one-world grifterment.

Thu, 07/21/2011 - 13:34 | 1477786 I_ate_the_crow
I_ate_the_crow's picture



Thu, 07/21/2011 - 12:57 | 1477608 Bob
Bob's picture

Mr. Market is the sock puppet for this charade to satisfy "investors."

Thu, 07/21/2011 - 12:46 | 1477538 wsmith
wsmith's picture

It's another great buying opportunity.

The DOW is now up almost 200 points.

I believe we should all give Steve Lisman head.

That fat bald prick deserves it.

Anyway, so long.

And God bless all you Marxist cocksuckers.


Thu, 07/21/2011 - 12:47 | 1477541 Lazane
Lazane's picture

hi ho that dog that "wags the tail"

Thu, 07/21/2011 - 12:48 | 1477542 alien-IQ
alien-IQ's picture

gee I wonder if the market will like it? LOL!!! Looks like a 300+ DOW day if the news breaks before the close. this is so pathetic I can't decide whether to scream or cry.

Thu, 07/21/2011 - 12:47 | 1477543 lolmao500
lolmao500's picture

Downgrade is a coming.

Thu, 07/21/2011 - 12:49 | 1477552 cossack55
cossack55's picture

So what. Its transitory.

Thu, 07/21/2011 - 12:47 | 1477544 cossack55
cossack55's picture

Yippee!!! I just knew our wonderful mast...leaders would save us. We are just too stupid to exist without their devine guidance.  I would pray to both of them if it wouldn't piss off the real G*d (Rudolf von Bernankenstein).

Thu, 07/21/2011 - 12:48 | 1477547 Corn1945
Corn1945's picture

Who would buy a 30 year bond from the US, a country with a history of currency debasement?

It gets to a point where people deserve to lose their money.

Thu, 07/21/2011 - 12:53 | 1477585 LMAO
LMAO's picture

Who would buy a 30 year bond from the US, a country with a history of currency debasement?

The FED!


Thu, 07/21/2011 - 12:56 | 1477591 hedgeless_horseman
hedgeless_horseman's picture

No below average portfolio manager of a below average portfolio ever got fired for buying U.S. treasuries.

Thu, 07/21/2011 - 13:47 | 1477830 Temporalist
Temporalist's picture

Below Average...the New American Spirit of Excellence!

Thu, 07/21/2011 - 12:49 | 1477553 SeverinSlade
SeverinSlade's picture

I called it.

PMs are sinking on the news.  It's incredible how easy it is to call the elites on their game.

Thanks Blythe and co!  We all appreciate the discounts on PMs!

Thu, 07/21/2011 - 13:10 | 1477689 papaswamp
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Asia has been hoping for this...they will load up.

Thu, 07/21/2011 - 13:21 | 1477743 SeverinSlade
SeverinSlade's picture


Everyone is freaking out about the new silver contracts launching tomorrow via HKMX.  I'm not so optimistic.  The last thing China wants to do is push up the price of the metals.  They are BTFD just like us.  HKMX will be more of the same.  Only difference between them and the COMEX is that HKMX gives China direct access to physical metal. 

Thu, 07/21/2011 - 14:06 | 1477915 SamuelMaverick
SamuelMaverick's picture

I disagree. The new exchange will offer sellers a new outlet to sell PM's, the end result will be a more free price discovery, and could give London and Comex ( JP Morgan) fits.  It is all about getting more control from the US and Europe.  Then again, maybe the new exchange might be in bed with Comex and if so, all it will be is more of the same BS.  I am personally betting on the Asians wanting more control over their economic future, and their desire to kick the hell out of the European and US bankers, market makers and governments. Dont forget about the soon to be opening Pan Asian Gold Exchange in the next month or so.  These exchanges could be game changers.   Good Luck.

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