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Gold Soars, Futures Plunge As Free Reign For Bernanke Appears Assured

Tyler Durden's picture


S&P futures are now unchanged from Monday's close - having lost 14 points from the close and over 18 from the highs. Meanwhile, gold is soaring and the USD is being sold. It would appear that as the odds of an Obama victory rises that the fiscal cliff reality becomes even more critical BUT given Bernanke's four-more-years, they have no need to do anything about it since he will just monetize away... Gold realizes its the 'stock' and equities have already priced in the 'flow' but forgot to price in the fiscal cliff (as we have noted)... We assume Schumer will be on the phone first thing in the morning demanding moar doing his job...

S&P 500 are plunging... (moar Bernanke trumped by moar Fiscal Cliff reality!!)


and gold is soaring (moar Bernanke) - catching and surpassing stocks...


USD weakness (moar Bernanke)...


and Tsy Strength (moar Bernanke)


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Tue, 11/06/2012 - 23:22 | 2954016 Trimmed Hedge
Trimmed Hedge's picture


Tue, 11/06/2012 - 23:30 | 2954027 flacon
flacon's picture

AL GOAR!! Yeargh!!!



Tue, 11/06/2012 - 23:34 | 2954044 TruthInSunshine
TruthInSunshine's picture

4 more years of The Bernank propping up The Walking Dead banking & financial sector (still loaded to the gills with toxic sludge that The Bernank is salivating at the prospect of over-paying for), and the ZIRP/NIRP forced "beautiful deleveraging" whereby consumers, savers and businesses further cut consumption, hiring and investment in order to allow the government to really run up the debt.

The virtuous circle of endless fiat creation for government friends that crushes the actual economy will continue, bitchez.

(It would have been the same playbook had Mittens won, anyways).

Tue, 11/06/2012 - 23:37 | 2954049 notbot
notbot's picture

This must be how liberals felt when W won a second term. This is a train wreck. 

I just can't believe America gave him a second term. 

Tue, 11/06/2012 - 23:53 | 2954089 HD
HD's picture

I was talking about this a few days ago. Democrats in 2004 would not, could not believe Bush would get a second term - and set themselves up for a huge fall. GOP did the same thing in 2012 - they assumed the Obama hate would carry the election no matter who they ran - the second Romney picked Ryan I knew it was over.

Wed, 11/07/2012 - 00:01 | 2954112 mick68
mick68's picture

The more sheeple on food stamps and welfare, the easier it will be for Dems.

Wed, 11/07/2012 - 00:10 | 2954130 AmCockerSpaniel
AmCockerSpaniel's picture

Don't bite the hand that feeds you!

Wed, 11/07/2012 - 00:24 | 2954225 Nothing To See Here
Nothing To See Here's picture

There's got to be something wrong cause these markets are actually reacting consequentially with current events... Help me here...

Wed, 11/07/2012 - 00:31 | 2954279 NoDebt
NoDebt's picture

Don't worry.  The "instant" reaction will not be the the same as the "2 weeks from now" reaction.


Wed, 11/07/2012 - 04:49 | 2955047 Deo vindice
Deo vindice's picture

HD - the second Romney picked Ryan I knew it was over.

The second the GOP picked Romney I knew it was over.

Ron Paul was the only man with a chance at defeating Obama. They knew that. They showed their hand in Obama's favour by picking a candidate that would lose to him.

Wed, 11/07/2012 - 05:08 | 2955056 Agent86
Agent86's picture

And if they're willing to rig things at the party level (see "scripted" DNC & RNC floor votes)' not much of a stretch to think they would do it for the national election. The whole thing is a sham...

Wed, 11/07/2012 - 06:14 | 2955099 Acet
Acet's picture

Choosing a Hedge fund guy as candidate at a time there is a huge crisis which most people blame bankers for: that was pure genious.

Wed, 11/07/2012 - 12:14 | 2956354 TruthInSunshine
TruthInSunshine's picture

Mittens was more private equity than hedge fund, but, yes, his past certainly didn't help him with independents/swing voters.

Wed, 11/07/2012 - 00:04 | 2954119 CrazyCooter
CrazyCooter's picture

I blew a gasket on this very subject weeks ago ... see my post from yesterday ...



NOTE: if you aren't logged in, the link wont work, as comments are paged in that situation (i.e. the post is actually several pages back)

Wed, 11/07/2012 - 01:17 | 2954612 ceilidh_trail
ceilidh_trail's picture

Cooter, I read your post. Amen. On a positive note, I attended Thomas massies victory party tonight. He is very much what I hope for the future of the republicans and America. We have got to take back our party before we can do more. In the mean time, Romney carries on the Romney legacy of like father, like son.

Wed, 11/07/2012 - 03:34 | 2954966 Stranded Observer
Stranded Observer's picture

Damn. . .you people who still believe in the Left/Right paradigm. . .what the hell are you doing on ZH?  How did you even find us here?

Wed, 11/07/2012 - 07:14 | 2955130 Muppet of the U...
Muppet of the Universe's picture

seriously you fuckers need to stop breaking rule 1 and 2.  b/c there are a plethora of retards coming on here now.  its fucking muppet galore on zh these days.

Wed, 11/07/2012 - 08:01 | 2955211 Watauga
Watauga's picture

S-O,  Pls, your majesty, enlighten us on what we are supposed to think if we read or post on ZH?  We are lost sheep, after all, stuck in the ancient Left/Right paradigm, and cannot move on in our lives without your insights.  Thank you so very much, your Highness.

Wed, 11/07/2012 - 13:38 | 2956937 marathonman
marathonman's picture

Well played Watauga.  Well played.  Flakmeister might just have to let you stay in his little kingdom.

Wed, 11/07/2012 - 00:23 | 2954219 SmallerGovNow2
SmallerGovNow2's picture

Sure you knew it was over.  You didn't know dick....

Wed, 11/07/2012 - 03:48 | 2954240 HD
HD's picture

 FEEL FREE to look at my previous ZH posts regarding the election. Look at the time stamps.

Tue, 11/06/2012 - 23:52 | 2954090 lunaticfringe
lunaticfringe's picture

Yes. You can never underestimate the stupidity of the sheeple. It is something to behold.

Wed, 11/07/2012 - 00:05 | 2954123 A Lunatic
A Lunatic's picture

I expect you to become a full fledged lunatic shortly after the election...........

Wed, 11/07/2012 - 00:10 | 2954132's picture

That's just crazy.

Wed, 11/07/2012 - 00:11 | 2954135 AmCockerSpaniel
AmCockerSpaniel's picture

Am I the only one in Bill Gross's camp?

Wed, 11/07/2012 - 00:01 | 2954103 knukles
knukles's picture

Yes, indeed.
The uber-liberals were struttin', preening and mumbling unintelligible shit about the New World Order...

But now, if this does come to pass, I shall have the exceptionally good favor of....

Continuing to thrash the uberlibs about the failing policies of the Second Coming of the New Messiah


Mangling the neocons about how their fucking choice of every name that had come into view was the one to beat Obey except Ron Paul whom they treated like a dog and Now, Cold Revenge, that they had a chance with any warm body would do but Oh Fucking No, choose the One Person Who Could Be Beat ...

I'm stoked for Bear and Bullion.
I will have my I toldja so moment..... for the next 4 years.


And having No Fucking Idea what is gonna happen, me or anybody else, this is why we own gold.

Booyah, motherfuckers!
Crony Capitalsocialism Forward

Tue, 11/06/2012 - 23:59 | 2954108 you enjoy myself
you enjoy myself's picture

except shit wasn't falling apart in 2004.  liberals disagreed with his positions, but there wasn't some existential threat to society as we know it.  in a way, we're better off re-electing O and hastening the collapse - let the low-info voters learn their lessons the hard way, and only then will they possibly see the light.  what, you can't get a full-time job because no one offers more than 30 hrs a week anymore?  shocking.  gas is $6?  shocking.  beef is $10/lb?  shocking.  your doctor just retired, and/or no longer accepts medicare or mediacre patients?  shocking. you can't buy a home because no one in their right mind is loaning you money over 30 years?  shocking.

Romney was likely only going to delay it for a while.

Wed, 11/07/2012 - 00:13 | 2954143's picture

If you asked Romney he'd likely say that he'd delay it for a while and then announce that he wouldn't delay it for a while.

Wed, 11/07/2012 - 00:18 | 2954175 a growing concern
a growing concern's picture

No, he was for delaying the collapse, but then he reexamined the issue and has found that he's actually against delaying the collapse.

Wed, 11/07/2012 - 01:07 | 2954560 you enjoy myself
you enjoy myself's picture

yeah, imagine if he was for closing guantanamo, reducing the deficit by half, not raising taxes on anyone making more than $250K, against then for gay marriage, going through the budget line by line, transparency, if you like your doctor you can keep your doctor, accepting public campaign funding, against starting more wars, against warrantless wiretapping, againt bombing brown people with drones, against easing welfare work requirements, against executive orders.  and then he did all of those things.

he would totally be a flip-flopper then.  you're right.



Wed, 11/07/2012 - 01:33 | 2954681 sansnobel
sansnobel's picture

Really?  You obviously ain't been paying attention to the liberalization of Amerika.......Money is no object any more.  It is power and nothing more.  Always has been really.  When you are dealing with Trillions, it doesn't take high interest rates to make money for the fatted calf of rent seeking aka the FED and it's member whore banks ofcourse.  Economics and math went out the fucking window a long time ago.

Wed, 11/07/2012 - 02:56 | 2954747 Bananamerican
Bananamerican's picture

"This must be how liberals felt when W won a second term"

It is....or was....even for non-liberulz™

I couldn't believe it at the time, that amerika would WILLINGLY give that walking fascist clusterfuck another 4....

I explained to my 6 year old today that out of the 330 million or so of us, the amerikan people were once again given the choice of two men not FIT to be President...

4 more years of amerikan tears, it is....

Wed, 11/07/2012 - 02:37 | 2954873 Nobody For President
Nobody For President's picture

But you can believe they gave him a first term?

Wed, 11/07/2012 - 03:00 | 2954911 Bananamerican
Bananamerican's picture

ahhh, a trick question.....

in retrospect, yes, I can...

Wed, 11/07/2012 - 04:53 | 2955048 Deo vindice
Deo vindice's picture

I cannot understand how the voters gave BO a second term.

The first time around - elect the guy out of sheer ignorance.

But you can't use that excuse after 4 years. On the other hand, I guess you can.

Wed, 11/07/2012 - 02:42 | 2954887 Chuck Walla
Chuck Walla's picture

I just can't believe America gave him a second term. 

Because getting free shit without a care in the world, worse,  with no idea how that dollar gets to them, means never having to worry... until the EBT reads WTF!  Detroit is now the model city of the future. If you commute, like LA or NYC, don't worry about the extras in life, GASOLINE IS the extra, so you can pay for the new wonderland of old Marx.

Rifle shopping Wed. first thing since I just got canned because of Obamacare.


Wed, 11/07/2012 - 02:54 | 2954900 Bananamerican
Bananamerican's picture

What's Marx got to do with the modern amerikan Corporate State, oh foolish partisan?

Wed, 11/07/2012 - 04:31 | 2955031 malikai
malikai's picture

Actually Marx has a whole lot to do with the propaganda. But it pretty much ends there, in my view.

Wed, 11/07/2012 - 01:54 | 2954762 Overfed
Overfed's picture

We all knew a fascist would win either way.

Tue, 11/06/2012 - 23:21 | 2954017 thedrickster
thedrickster's picture

The dude abides, the dude abides.

Tue, 11/06/2012 - 23:25 | 2954025 Muppet Pimp
Muppet Pimp's picture

Close enough for me....thanks bro! 

Wed, 11/07/2012 - 00:28 | 2954262 Walter_Sobchak
Walter_Sobchak's picture

fucking amateurs dude

Wed, 11/07/2012 - 09:53 | 2955598 L0nG-DoNg-SiLv3R
L0nG-DoNg-SiLv3R's picture

This is what happens when you find a stranger in the Alps, do you see? Do you see what happens...?

Tue, 11/06/2012 - 23:22 | 2954019 Dr. Engali
Dr. Engali's picture

Gold bitchez!  What's the price of lead doing Tyler?

Tue, 11/06/2012 - 23:29 | 2954038 jim249
jim249's picture

You must mean tungsten.

Tue, 11/06/2012 - 23:30 | 2954043 Dr. Engali
Dr. Engali's picture

No I mean lead surrounded by full metal jackets.

Wed, 11/07/2012 - 00:15 | 2954145 AmCockerSpaniel
AmCockerSpaniel's picture

If you wait for those drones (30,000) to get in the air above the US, then it's too late.

Wed, 11/07/2012 - 00:30 | 2954268 Dr. Engali
Dr. Engali's picture

There is a lot to be learned from Afghanistan...where empires go to die.

Tue, 11/06/2012 - 23:32 | 2954046 Sabibaby
Sabibaby's picture

not for bullets... Cu or Pb please. 


Au and Ag for currency :-)

Tue, 11/06/2012 - 23:54 | 2954095 HD
HD's picture

 Long light bulbs.

Tue, 11/06/2012 - 23:58 | 2954100 a growing concern
a growing concern's picture

So my RGR calls are going to be doing well in the morning, I presume?

Wed, 11/07/2012 - 01:51 | 2954755 Bananamerican
Bananamerican's picture


Wed, 11/07/2012 - 01:56 | 2954769 Overfed
Overfed's picture

Copper, lead, and brass FTW!

Wed, 11/07/2012 - 02:32 | 2954863 Zymurguy
Zymurguy's picture

Don't forget blued steel bitches!

Tue, 11/06/2012 - 23:24 | 2954023 AGORACOM
AGORACOM's picture

Soybean Oil is up 1% in the last 90 minutes ... started moving once Obama win started sinking in.

Obama win = Bernanke stay = ZIRP to 2016

George .. The Greek ... From Canada

Tue, 11/06/2012 - 23:26 | 2954028 Uber Vandal
Uber Vandal's picture

I think you meant ZIRP to 9016.

Wed, 11/07/2012 - 03:41 | 2954978 you enjoy myself
you enjoy myself's picture

and futures have now spiked from -13 to +6, the -13 first printing once it became apparent O was going to win.  dismay over future margin compression apparently being displaced by the dollar's continued devaluation.

Tue, 11/06/2012 - 23:32 | 2954040 cranky-old-geezer
cranky-old-geezer's picture



Please stop hyping these < 1% moves. 

I don't even care until it's 3%.

Tue, 11/06/2012 - 23:37 | 2954056 willwork4food
willwork4food's picture

ditto. wake me up when the first riots start in Detroit.

Wed, 11/07/2012 - 00:05 | 2954122 knukles
knukles's picture

If the Romulan wins, cities will burn.
And mayhaps, like the home team winning the SuperDooperPooperBowl, riots of joy and celebration expressing one's free speech burning, pillaging and looting with impunity and then...

Blaming it on Bush or...
Saying it'll be Fucking Great for GDP.

Booyah, Motherfuckers!

Wed, 11/07/2012 - 00:28 | 2954263 SmallerGovNow2
SmallerGovNow2's picture

Riots would only have started if Romney had won.  the sensible Liberatarians and Republicans will go about their lives and try and figure out how to avoid their Federal Overlord and the giant sucking sound from 47 million on food stamps and 50% of the population on the federal dole...

Tue, 11/06/2012 - 23:38 | 2954060 Muppet Pimp
Muppet Pimp's picture

nice tits cog

Wed, 11/07/2012 - 01:57 | 2954772 Overfed
Overfed's picture

You'll get yer 3% and then some. Just give it a couple days.

BTW, I liked your old avvy better.

Wed, 11/07/2012 - 02:40 | 2954883 cranky-old-geezer
cranky-old-geezer's picture



Agree, it was classy, may go back to it.

Tue, 11/06/2012 - 23:35 | 2954051 lolmao500
lolmao500's picture

TSY strength is really the stupidest thing I've ever seen on the markets. It defies belief. MORE DEBT = MORE CONFIDENCE!! MAKES NO FUCKING SENSE.

Tue, 11/06/2012 - 23:40 | 2954065 willwork4food
willwork4food's picture

dude, more debt= more cash in circulation, ie. M2. The more cash in circulation the more it is spent=velocity of money.

Regretably this has side effects you might not notice.

Your savings might deteriorate, food will increase and your dick might fall off.

Wed, 11/07/2012 - 00:09 | 2954128 knukles
knukles's picture

TIPS are rallying hard along side PMs....

What inflation be that, me Lord?
Ah me Sheriff, arrest those making meaningless numbers askew from our desires.
Aye, me Lord, so it shall be.
Fair Cryer, bestow all's well upon the populace, send them sweet dreams before we tax and tithe of them yet again

But is good to be King

Ah, the New Versailles

Tue, 11/06/2012 - 23:37 | 2954057 Essential Nexus
Essential Nexus's picture

Gold wins the election!!!

Tue, 11/06/2012 - 23:44 | 2954077 Harbanger
Harbanger's picture

I feel bad for the people that didn't prep for this.

Tue, 11/06/2012 - 23:49 | 2954083 Dr. Engali
Dr. Engali's picture

Not me.....not in the slightest. If they choose to accept the shit sandwich fed to them...well then so be it.

Wed, 11/07/2012 - 00:12 | 2954137 knukles
knukles's picture

Doc, I've become jaded about it all.
I'm as tired of being falsely accused of being a racist for disagreeing upon economic and financial matters as I've become tired of being told I'm crazy and laughed at for holding PMs

Fuck 'em

Wed, 11/07/2012 - 00:17 | 2954159's picture

What if I called you a pinhead?

Wed, 11/07/2012 - 00:36 | 2954326 knukles
knukles's picture

I'd pout and possibly never come back to be so inappropriately abused again.... have to start posting on HuffPo where I'd be appreciated.
Plus, its not nice to make fun of people with handicaps... so why are we talking about the Messiah?
I'm so confused.

Wed, 11/07/2012 - 00:36 | 2954325 Dr. Engali
Dr. Engali's picture

I believe a lot of people share the same sentiment.

Wed, 11/07/2012 - 00:30 | 2954274 SmallerGovNow2
SmallerGovNow2's picture

hear you doc, you see the pimply faced kids in the Obama audience?  they truely have no clue what is going on....

Tue, 11/06/2012 - 23:48 | 2954080 Alpo for Granny
Alpo for Granny's picture

GoldMAN wins the election!!

There...all fixed now.

Wed, 11/07/2012 - 00:37 | 2954329 hidingfromhelis
hidingfromhelis's picture

Goldman wasn't going to lose with either "choice" in this farce.  The American people, not so much.  We lose with either Rombama or Obamney.  As for the barbarous relic, it neither won nor lost; it stays the same while it takes more and more clownbux to purchase.

Wed, 11/07/2012 - 02:58 | 2954904 LMAOLORI
LMAOLORI's picture



Yes even Paul Krugman agrees


Obama's best friend at Goldman Sachs


You all better hide that Gold


How Obama Could Steal Your Gold


How bankrupt governments will confiscate your gold


Tue, 11/06/2012 - 23:37 | 2954058 TumblingDice
TumblingDice's picture

Treasuries going up because of stronger government and weaker private sector economy.

Tue, 11/06/2012 - 23:40 | 2954063 Everybodys All ...
Everybodys All American's picture

uh right?

Tue, 11/06/2012 - 23:39 | 2954061 Everybodys All ...
Everybodys All American's picture

Bernanke reign of terror continues ...

Tue, 11/06/2012 - 23:39 | 2954062 AgLand
AgLand's picture

All that glitters is not gold.

Often it is the soy And wheat in the fields at harvest!

Though I still own gold of course.

Tue, 11/06/2012 - 23:43 | 2954069 willwork4food
willwork4food's picture

Damn you fuckers that can afford silver, let alone gold...I for one am jealous.

You didn't build your gold pile...i want some of it.


Tue, 11/06/2012 - 23:53 | 2954088 Harbanger
Harbanger's picture

Why the Sarc?  Better take a boat ride before the msm starts blaming the hoarders.

Wed, 11/07/2012 - 00:35 | 2954321 edifice
edifice's picture

Already begun... Nancy Grace accusing silver bull-yon stackers of being insane:

Wed, 11/07/2012 - 03:46 | 2954986 Stranded Observer
Stranded Observer's picture

Nancy Grace is wasting precious oxygen in our environment.  This death-whore who profits on other people's misery would do us all a better service if she was to become nitrogen rich fertilizer in the ground.  


What I meant to say, er, rather, is her opinion on anything is suspect.

Tue, 11/06/2012 - 23:42 | 2954068 Odin
Odin's picture

Obamney wins! Obamney wins!


....t-minus 11 hours until the cartel raids gold/silver...

Tue, 11/06/2012 - 23:45 | 2954078 Turin Turambar
Turin Turambar's picture

Well, everyone has been looking for a Black Swan event.  It looks like the fuse is lit if Obama closes this out.  tic toc tic toc...

I'm not a fan of either of the establishment candidates, but a marxist for Presidient America? Sheesh.  :-(

Man, I am going to take a beating tomorrow in my coal stocks.  They were doing so well, and I was looking forward to a triple or more under Moderate Mitt.  Time to take a loss and go short I guess.  ((

Tue, 11/06/2012 - 23:53 | 2954093 Gringo Viejo
Gringo Viejo's picture

I hear ya Turin. I expect to take a loss on ANR before I can unload it. Oh well. The sheeple have spoken. If you think America got effed during the last 4 years, just wait. This next 4, we won't even get a reacharound.

Wed, 11/07/2012 - 01:25 | 2954651 Turin Turambar
Turin Turambar's picture

Sorry to hear that Gringo.  I was actually looking forward to a slight pullback on ANR, so I could add some to my holdings.  You might not lose much.  I'd much rather be holding that now than my JRCC.  Stick a fork in coal.  It's done.  :-(

Wed, 11/07/2012 - 00:09 | 2954126 El Hosel
El Hosel's picture

..... Black Swan,  Black Don..... Same smell.  

  Banksters Rule Bitches, the stripes don't matter.

Tue, 11/06/2012 - 23:50 | 2954084 swissaustrian
swissaustrian's picture

Let me be clear: You didn't trade that.

Forward, comZHrades.

Tue, 11/06/2012 - 23:56 | 2954096 swissaustrian
swissaustrian's picture

Elizabeth Warren promoting socialism on Bloomberg right now


Wed, 11/07/2012 - 00:00 | 2954109 Everybodys All ...
Everybodys All American's picture

The fact is these people are not democrats. JFK would have to run as a republican.

Wed, 11/07/2012 - 04:27 | 2955022 you enjoy myself
you enjoy myself's picture

JFK was possibly to the right of Romney.  and Chrissy Matthews would have been hyperventilating that their family wealth derives from Joe Kennedy's drug running. 

Wed, 11/07/2012 - 00:15 | 2954146 knukles
knukles's picture

Isn't she the Last of the Mohegans or some such non-pox infested blanket survivors?

Another birth certificate check, please?

Wed, 11/07/2012 - 01:29 | 2954663 ceilidh_trail
ceilidh_trail's picture

No, she's just a liar.

Wed, 11/07/2012 - 00:30 | 2954273 yogibear
yogibear's picture

Obama's future government architecture is modeled after Europe's. Since he was elected he admired Europe's socialism.

Wed, 11/07/2012 - 01:33 | 2954680 dvfco
dvfco's picture

I wouldl love to introduce a bat to Warren's head.  In return, she can hit me with her bow and arrow.  Lying fucking whore.

Wed, 11/07/2012 - 00:01 | 2954113 Yen Cross
Yen Cross's picture

 Time to restore that old pedal car I had when I was a kid.  Either that or I can buy a horse. It will be cheaper to fill up than my car with Chair Satan at the helm.

Wed, 11/07/2012 - 00:02 | 2954115 sharky2003
sharky2003's picture

With it looking like we'll have more of the same (dem pres, dem senate, repub house), this could be huge, in addition to the fiscal cliff...Things should get interesting quickly.

Treasury expects debt ceiling to be reached by end of 2012 

Wed, 11/07/2012 - 00:16 | 2954154 El Hosel
El Hosel's picture

"Debt Ceiling?".... WTF!?  There aint no ceiling on a 15 Trillion Dollar pile of debt. The debt blew through the ceiling when gold was $35 an ounce.

Pass the smoke and mirrors.

Wed, 11/07/2012 - 00:25 | 2954238 sharky2003
sharky2003's picture

I meant with status quo reelected, we can expected round 2 of debt ceiling drama.

Wed, 11/07/2012 - 00:03 | 2954117 Jon Bong Jovi
Jon Bong Jovi's picture

I kind of want Obama to win, because I need more public subsidies for my real estate projects. 

Wed, 11/07/2012 - 00:20 | 2954201 Harbanger
Harbanger's picture

All your project are belong to the people now.  Obama Wins!!  Yaii!!

Wed, 11/07/2012 - 01:31 | 2954671 dvfco
dvfco's picture

Having Section 8 tenants, I wish I could have given you a plus 100 on that one.  It was well timed.  

My favorite Section 8 tenant spent several months in jail after throwing bleach in the eyes of her 'couisn' while drinking (and the police say smoking crack) in the building.  It appears the woman pulled the blinds of the wall and my tenant through bleach in her eyes.

When I asked what happened she said, "You know those beautiful blinds you bought for me?" (I thought, those $1.99 ones from Home Depot - yes I do remember).  Well, she said, "I loved those blinds and my crazy bitch cousing ripped them off the window and I said, 'Bitch - you ruin my blinds - I'm a gonna make you blind'  and then she poured the bleach on her eyes/face.  I was a little stunned, seeing as it's a pretty strong middle class community with a one-bedroom apartment going for $1,325 at marke rent (and a tiny - 400 sq.. foot. apt.).

She's fucking crazy and shows up asking for money at my other tenants' door at 4 a.m., half the time she's either buck naked or has her wig on backwards.



Wed, 11/07/2012 - 00:33 | 2954296 yogibear
yogibear's picture

Just make sure you have plenty of section 8's

Obama's future free housing for all.

Wed, 11/07/2012 - 00:38 | 2954344 knukles
knukles's picture

Section 8's is how ya git outta the Army...

Wed, 11/07/2012 - 01:03 | 2954527 Jon Bong Jovi
Jon Bong Jovi's picture

I don't mess with that section 8 crap, I leave that for the politicans. A large number invest in Sec 8. I deal with high end luxury market, you know all the white flighters moving back into the cities. Gubmint subsidizes about 45%+. I should get into Section 8 more, but them damn poor people destroy those units. I just get sick and tired dealing with poor people sob stories. I capture the low end dollars by investing in Wig Shops, Sneaker Stores, and Check Cashing establishments. 

Wed, 11/07/2012 - 01:17 | 2954617 JMT
JMT's picture

what about Fried chicken restaurants?? Kennedy Fried chicken? Popeyes?? 

Wed, 11/07/2012 - 07:45 | 2955145 Zero Govt
Zero Govt's picture

doing biz jumping through regulatory hoops set by the calamity clowns of the economy, Govt

all bow, Mr Shambles is gonna tell you how to do it

Wed, 11/07/2012 - 00:05 | 2954121 Gringo Viejo
Gringo Viejo's picture

Bold fucking call, eh?

Wed, 11/07/2012 - 00:12 | 2954136 Kreditanstalt
Kreditanstalt's picture

GOLD is the only voter that counts.


Wed, 11/07/2012 - 00:16 | 2954149 knukles
knukles's picture

The only truth is price

Wed, 11/07/2012 - 00:14 | 2954144 disabledvet
disabledvet's picture

Hurricane Sandy was your tell: "all for Obama even though FEMA is the exact opposite of help." I see a big cabinet reshuffle...possibly Colin Powell in at State and a second term and a most unlikely of Presidents in search of a legacy. Sorry but while i doubt the guy has any love for me i love the guy's story. "We ain't talkin' bean bag here" and he not only got the top job as a community organizer (hey, 5 boroughs of New York---hint, hint?) but looks like he's kept it. This isn't Ronald Reagan's second, nor George Bush's either. Bill Clinton did better against Dole. The fact of the matter is "revenge voting works." This is not a nation "looking for solutions" and the more managerial and technocratic "Mitt"...well, you all sum him up on "the street" here i think the way the rest of the "non-aligned movement" would. I think healthcare was a big deal for folks...certainly since the vast majority of people voting for Obama were working class and white. whine all you want about "socialism" but the rest of the industrialized least what's left of it...has full insurance coverage for all its citizens. i think it really is crazy that the USA not only doesn't but that such a condition has been IN THE DECLINE. i expect a wild next few weeks to two years...almost all of it on the one area the President has taken a personal interest in which me at least...fascinatingly "foreign policy." i firmly believe he can really establish a legacy here...a noticed a "good old fashion witch burning" of Abu Mazzin after he hinted at some type of concession in his home town which is Israel. but i blah, blah, blah. Buy gold...and all that shit. Unless of course Mitt Romney....

Wed, 11/07/2012 - 00:48 | 2954430 JMT
JMT's picture

{{ I think healthcare was a big deal for folks...certainly since the vast majority of people voting for Obama were working class and white.}}}

Bull!! Who PAYS for this healthcare?? It is cheaper to pay the penalty than to pay likely of $500 a month for a single person with no health issues. Oh yes, and make the definition of 'low income' absurdly low.. $50,000 in the '5 boros' of NYC or most of the northeast isn't enough to rent a cardboard box but the threshold for low income for a single person (to qualify for a waiver ) will be ridiculously low. Meanwhile, kids can stay on their parents policies up until age 26 which is an extreme moral hazard

And working class and white?? two words WHITE GUILT

Wed, 11/07/2012 - 00:48 | 2954431 JMT
JMT's picture

{{ I think healthcare was a big deal for folks...certainly since the vast majority of people voting for Obama were working class and white.}}}

Bull!! Who PAYS for this healthcare?? It is cheaper to pay the penalty than to pay likely of $500 a month for a single person with no health issues. Oh yes, and make the definition of 'low income' absurdly low.. $50,000 in the '5 boros' of NYC or most of the northeast isn't enough to rent a cardboard box but the threshold for low income for a single person (to qualify for a waiver ) will be ridiculously low. Meanwhile, kids can stay on their parents policies up until age 26 which is an extreme moral hazard

And working class and white?? two words WHITE GUILT

Wed, 11/07/2012 - 00:48 | 2954433 JMT
JMT's picture

{{ I think healthcare was a big deal for folks...certainly since the vast majority of people voting for Obama were working class and white.}}}

Bull!! Who PAYS for this healthcare?? It is cheaper to pay the penalty than to pay likely of $500 a month for a single person with no health issues. Oh yes, and make the definition of 'low income' absurdly low.. $50,000 in the '5 boros' of NYC or most of the northeast isn't enough to rent a cardboard box but the threshold for low income for a single person (to qualify for a waiver ) will be ridiculously low. Meanwhile, kids can stay on their parents policies up until age 26 which is an extreme moral hazard

And working class and white?? two words WHITE GUILT

Wed, 11/07/2012 - 04:00 | 2954998 Stranded Observer
Stranded Observer's picture

Can you say that one more time please?

Wed, 11/07/2012 - 00:21 | 2954205 bnbdnb
bnbdnb's picture

I love GOLD.

Wed, 11/07/2012 - 00:46 | 2954406 freedogger
freedogger's picture

Get ready for mass layoffs...

Wed, 11/07/2012 - 00:48 | 2954428 hawk nation
hawk nation's picture

Tomorow i will buy more pms

Im not waiting for a dip in price

Dont feel comfortable having alot of cashon hand at this point

Do others here feel this way?

Wed, 11/07/2012 - 01:44 | 2954730 FreeMktFisherMN
FreeMktFisherMN's picture

I echo your sentiments. I don't have a ton of capital, seeing as I'm a student, but I have a 'solid' stash of PMs (mostly Ag) and quite a bit of dry powder. I really think breaching $30 is not going to happen. There is simply too much cheap money and tailwinds of QE. They have tried hard lately, like today with the initial plunge preceding the surge, but there are too many people waiting for the cheap prices gobbling up phyzz. 

I need to get more survival goods in general. But PMs is the most practical store of wealth for me at this point. I'll be adding soon. 

Wed, 11/07/2012 - 04:36 | 2955038 you enjoy myself
you enjoy myself's picture

not yet.  mid to late Dec - all stocks are going to get hammered until the Fed announces that twist is unsterilized come Jan.

Wed, 11/07/2012 - 00:54 | 2954466 Mitch Comestein
Mitch Comestein's picture

Well, I feel like I did about this time of night four years ago. 

Offtakes: Taxes are going up for $250 MFJ earners and gays who earn $200K+.  Obammie will have the leverage to strongarm the repubs. 

Bernack came in big for BO.  I think we need to come up with a statistical measure for dow points created or saved on each QE jolt.

Wed, 11/07/2012 - 01:46 | 2954728 silverisgold
silverisgold's picture

Anyone who thinks that a Romney win would have made their lives better is living in serious delusion.

Wed, 11/07/2012 - 03:13 | 2954940 zebrasquid
zebrasquid's picture

Anyone who believes an Obama win won'ts make their life much worse than if Romney won is seriously deluded./a

Wed, 11/07/2012 - 01:58 | 2954771 zebrasquid
zebrasquid's picture

Forward Obamunists!

Wed, 11/07/2012 - 02:01 | 2954785 dvfco
dvfco's picture

I just had to throw in one Ode to The Governor of New Jersey -

"Fuck You - You Fat Fuck - If you hadn't given that low-life cocksucker the Sandy photo-op, it might have changed the course of history.  I hope you starve to death, because that's what half the people I know on Long Island are doing today.  FEMA disappeared with the Marine 1 Helicopter.  May you next be elected chief toilet scrubber of the Federal Pen - as all Jersey politicians eventually find themselves - and once again - fuck you."

Wed, 11/07/2012 - 02:48 | 2954896 LMAOLORI
LMAOLORI's picture



+1 Forever to be known as Judas Christie !


Ron Paul: Fema picking up tab for Sandy will mean higher inflation for Americans


Early estimates on the cost to clean up the damage in several states are ranging between $20 and $100 billion. Additionally, Governor Christie of New Jersey, and Governor Cuomo of New York have both intimated and advocated that the Federal government should foot he entire bill to clean up their state from the hurricane's destruction.

Wed, 11/07/2012 - 13:54 | 2957039 marathonman
marathonman's picture

I was amazed that as broke as we were, we kept throwing mega-money at New Orleans after Katrina.  Never underestimate the power of the monetary printing press.  Of course oil hit $140/bbl around that time.  Hind sight's 20/20, but I'm nearly going blind....

Wed, 11/07/2012 - 02:30 | 2954857 Tapeworm
Tapeworm's picture
Free Reign For Bernanke Appears Assured

Free rein is the spelling. Free rein ----think of a horse. Of course you can see it as free Reign of the FED over we peons that are to be mulcted into oblivion.

Wed, 11/07/2012 - 02:42 | 2954888 LikeClockwork
LikeClockwork's picture

Not convinced of the 'Futures Plunge' bit. Election decided and now on with the show.

Wed, 11/07/2012 - 02:48 | 2954894 Bear
Bear's picture

You might be right ... it would look bad for him if after His Election the market tanks. Give it a respectable two weeks.

Wed, 11/07/2012 - 02:54 | 2954899 Chuck Walla
Chuck Walla's picture

Free Reign For Bernanke Appears Assured

Free rein is the spelling. Free rein ----think of a horse. Of course you can see it as free Reign of the FED over we peons that are to be mulcted into oblivion.

Umm, I see that going either way, really.

FORWARD SOVIET! Detroit, our new City of the Future!

Wed, 11/07/2012 - 05:57 | 2955069 Tapeworm
Tapeworm's picture

I thought that I said that.


 Anyway, most of the old vibrant cities of manufacturing innovation will go the way of Detroit.

 Manufacturing now is mostly considering just how one is able to stay low; below the radar of OSHA and the rest of the fine collectors.

 Any small manufacturing shop is at the mercy of a pair of OSHA functionaries. Any shop can be wiped out at an instant by OSHA fines and them closing the doors even of a shop with impeccable safety record. Their system is a bounty hunter scam where they can fine for anything that one does. I am a real prick about employee safety not only to avoid fines, but to make sure that my valued employees never get injured.

 At any time OSHA can walk in and wipe me out. I don't want to place myself at their whim any more. I want out.


 My problem is that I am in machining. My machine tools run from small stuff to 140,000 pound surface grinders that might as will be scrapped if they had to be moved. They have me pinned down by the vast cost of moving them out of this parasitic feeding pen. Stealing money from me for some chickenshit regulation interpretation is good for them. I have no way of leaving for a more reasonable venue.

 I would never set up the specialty precision plate grinding facility again. They will pick me off and kill whatever margin I have on these truly safe machines. There are no other shops within 200 miles of the southwest end of Lake Michigan that have our capabilities. Wipe me out and it puts a fat hole in manufacturing that needs our specialty.

 So what? Who gives a shit?

 FWIW, my employees are getting a 15% donation to their IRA this year. In the past fifteen years their SEP/IRA payment has been at worst 11.5% and nearly always a 15% payment. They pay zero for medical insurance and have a large part of their deductible paid too.

 The goo wants to wipe me out and screw all of my employees in the name of "fairness".

 I want Obamacare ASAP so that I can get away from $20,000 policies for a healthy family of three. I'll pay the fine gladly and dump them on the system. Then they can get a raise to cover the difference. They can decide what to do with the dough rather than me having to plan their lives aound "health insurance".

 The way that it stands id that hiring a full time know nothing for training will cost more than the wage if he has a family.

 Who would you hire?


Wed, 11/07/2012 - 02:45 | 2954890 Bear
Bear's picture

People are and will continue buying gold to protect their money from the prying eye of POTUS and to give to their children without having to pay 55% estate tax. When these things are fully understood (Dem=55% tax, DEM=track all transactions), loads of people with lots of dollars will pile in. And this is of course without a sinking dollar. 2012 is your golden opportunity ... $2100 by 12/31, buy now before the rush.

Wed, 11/07/2012 - 03:07 | 2954918 QE49er
QE49er's picture

And a big win for the stackers tonight

Wed, 11/07/2012 - 07:37 | 2955156 Zero Govt
Zero Govt's picture

they need a rest, it hasn't exactly been plain sailing of late

Wed, 11/07/2012 - 05:06 | 2955053 johnberesfordti...
johnberesfordtiptonjr's picture

I see that one of the Tylers has, as usual, gone hysterical over a minor move. Gold is not “soaring” and stock futures are not “plunging.” In fact, stock futures are UP at the moment. ZH, like Drudge, has become a childish and biased apocalyptic rant factory. However, ZH may prove useful as a contrary indicator.

Wed, 11/07/2012 - 07:36 | 2955117 Zero Govt
Zero Govt's picture

USD weakness (moar Bernanke)...

and Tsy Strength (moar Bernanke)...

the Bernanke Mad, Mad, MAD Contrarian (Un)Hedged Fund to the rescue

central planning (and banking) really does work, just ignore the USSR and Communist China experiences, just believe the propaganda they spin

Wed, 11/07/2012 - 07:37 | 2955155 Freewheelin Franklin
Freewheelin Franklin's picture

SO, when the market collapses, will we still get to blame Bush, and "capitalism"?

Wed, 11/07/2012 - 07:47 | 2955158 Zero Govt
Zero Govt's picture

Monopolism hasn't got a lot to do with Capitalism in truth

do you think Bubble Ben and that absolute drip Mervyn King would be keen to have their monopolies taken away and compete in a free (money) market?

their survival rate in a free market can be measured in milli-seconds

Wed, 11/07/2012 - 08:07 | 2955225 Ghordius
Ghordius's picture

+1 Capitalism as such is a quite neutral term. It denotes a society where the accumulation of capital is allowed. Compare with Socialism where this is only allowed in part or only for certain parties or Communism where this is forbidden.

For that reason it would be smarter to resort to the more burdensome but exact term: Liberal* Free-Market** Capitalism.

(*) Liberal = means (not conservative and) against unnecessary freedom-reducing laws. Libertarians belong to the "Family of Liberalism" too, btw. Don't take the alliance of social democrats and liberals that is called the US Democratic Party as a template for "liberal", they aren't that.

(**) Free-Market = means monopolies, oligopolies, cartels and trusts are not allowed. This means anti-trust/anti-cartel laws and action.

Ah, I'm so happy that the elections are over, now I can discuss politics as I prefer. I repeat, the ideal pursued by the great men of our combined history is called:

Liberal Free-Market Capitalism

And for that you need functioning, not too corrupted states based on republican principles with democratic elections.

If you ask the Germans, they will talk about Social Free-Market (Soziale MarktWirtschaft), of course, but they mean the same with social benefits. Nevertheless, even they will remind you that the Free Market is the minimum companion to Capitalism, otherwise you'll get your Monopolism.

Wed, 11/07/2012 - 08:15 | 2955244 Ghordius
Ghordius's picture

"Central Planning", btw, is currently more something like a propaganda meme. As such it actually denotes the Central Plans of a Communist country where the central planning organs fix how much of each product and service has to be delivered.

As an invective against the FED is ok, but please, remember that there are people reading this with little or no idea what socialism or communist really is. This can be seen in the US 18-26 years old youth that finds now the term "ok". IMO they would not if this endless propaganda would stop and people would talk a bit more about facts.

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