Boehner's Bipartisan Fiscal Cliff Bluff - Live Webcast

Tyler Durden's picture




 

Lots of reading between the lines and inference we are sure... standard political protocol surely means he will toe the line on TV... or will he?

 



 

“We won't solve the problem of our fiscal imbalance overnight, in the midst of a lame duck session of Congress,” Boehner said in prepared remarks. “And we certainly won't solve it by simply raising tax rates or taking a plunge off the fiscal cliff.

“What we can do,” Boehner continued, “is avert the cliff in a manner that serves as a down payment on – and a catalyst for – major solutions, enacted in 2013, that begin to solve the problem.”

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Wed, 11/07/2012 - 16:32 | 2957756 Disenchanted
Disenchanted's picture

Who cares?

Wed, 11/07/2012 - 16:35 | 2957764 LouisDega
LouisDega's picture

Its snowing outside. Who is Boehner?

Wed, 11/07/2012 - 16:42 | 2957799 Supernova Born
Supernova Born's picture

Democrats are the disease, but Republicans have been proven, they are not the cure.

Wed, 11/07/2012 - 16:43 | 2957818 Manthong
Manthong's picture

Hmm..

Boehner.... Bainer?

Seems I heard that name from somewhere before.. maybe a politician or something.

Wed, 11/07/2012 - 16:50 | 2957861 mick68
mick68's picture

At first glance, sounds like he's rolling over but a pro like him would never do that. In reality, he's getting a jump on the "we're the nice guys" rhetoric AND throwing the fiscal cliff into the political arena right away.

Wed, 11/07/2012 - 16:51 | 2957865 fonzannoon
fonzannoon's picture

Listen you guys snap the ball and we will punt it.

Wed, 11/07/2012 - 16:53 | 2957880 Michaelwiseguy
Michaelwiseguy's picture

I think we should drive over the Fiscal Cliff at ramming speed, and let the Bernank pick up the slack to make peoples debt payments on time.

Wed, 11/07/2012 - 17:51 | 2958213 economics9698
economics9698's picture

Obama is expected to reappoint Bernanke. This translates into Obama spending and Bernanke printing the USA into oblivion. Bernanke has shown his wiliness to print whenever banks need a bailout or the federal government needs funds. In 2011 11.1% of the GDP was Federal Reserve held federal debt.

Under Bernanke the Federal Reserve has created QE I, QE II, Operation Twist, QE III to infinity. No reason to think the monetary expansion will stop with Obama’s re-election.

For the immediate future there will be a financial cliff.

Not the financial cliff reported in the press where the Republicans and Democrats need to come to a budget agreement, this is immaterial. It does not matter. It’s a dog and pony show for the public. It’s politics. It’s a waste of time to focus on.

The financial cliff is the debt that we have accumulated both public and private that we cannot pay back. The total public and private debt that is 350% of the GDP. This debt will be impossible to pay back. The federal debt that is 104.8% of the GDP in 2012. The unfunded liabilities that top $100 trillion. These numbers are unsustainable and they were created by American consumers, Republicans, and Democrats.

That is the fiscal cliff.

The economy is most likely in recession and the BLS will continue to downward adjust its GDP numbers.

Consider early 2001. A U.S. recession had already started months earlier, but first-quarter GDP growth was initially reported at 1.2%. Based on final revision, that same quarter’s GDP growth is now reported at -1.3%. Likewise, by early 2008, the U.S. was also already in recession, but first-quarter GDP growth was initially reported at 1% growth. That figure was only later revised to -1.8%.”

The bond buying from China ended in July 2011. Japan has slowed down its purchases of bonds as it has transitioned from an exporting nation to an importing nation. Now there are signs that the panicked Europeans have quit buying US bonds. The train is running out of track. The buyers for US bonds is drying up, it’s only a matter of time before the rest of the public realizes the US cannot pay back its debt.

That is the financial cliff.

Wed, 11/07/2012 - 18:04 | 2958264 walküre
walküre's picture

CNN is preparing the banner CRISIS - USA HEADING TOWARD FISCAL CLIFF as we speak.

There will be weeks and months of coverage on this which will only stop during Thanksgiving and Christmas if we're lucky. It is just another crisis that shall not go to waste in every sense of the word.

The "crisis" will be filling airtime, columns and debates in bars and around family tables.

THREAT OF FISCAL CLIFF is the new TERRORISM THREAT

and of course

FIGHT FISCAL CLIFF

followed by

HIGHTENED LEVELS OF FISCAL CLIFF

and naturally

FISCAL PATRIOT ACT

expand on it as you like

In the end there will be downgrades, some extensions, some backdoor deals, some meetings involving the IMF and when it's all settled and done we will have the SOLUTION much like we were presented with solutions from Europe earlier.

oh, and there will be rumors lots of rumors around as well

the end

Wed, 11/07/2012 - 19:05 | 2958541 grunk
Wed, 11/07/2012 - 19:00 | 2958526 Treeplanter
Treeplanter's picture

Speaker Bonehead always caves and he always loses the media narrative The Boy Wonder loves him.

Wed, 11/07/2012 - 16:50 | 2957862 Dolar in a vortex
Dolar in a vortex's picture

Given his priapism for stupidity, it's pronounced boner.

He needs to be voted out as speaker. If the pubbies are serious about change, they'll go after him. If not, he stays.

Wed, 11/07/2012 - 16:51 | 2957864 Buckaroo Banzai
Buckaroo Banzai's picture

Article 1, Section 7. All bills for raising Revenue shall originate in the House of Representatives...

STARVE THE BEAST

Wed, 11/07/2012 - 17:20 | 2958041 Everybodys All ...
Everybodys All American's picture

That has hardly been the case lately. No budgets. Sequestrations and continuing resolutions have bastardized the whole process. We are going down the wrong path at break neck speed.

Wed, 11/07/2012 - 18:02 | 2958261 Catullus
Catullus's picture

The tax cuts were temporary. They're expiring. They weren't renewed by republicans who had control of congress and white house from 2000-2006.

Wed, 11/07/2012 - 17:13 | 2958000 Praetorian Guard
Praetorian Guard's picture

Hahaha you said boner... hahaha... yea... cornholio...

Wed, 11/07/2012 - 18:07 | 2958281 LouisDega
LouisDega's picture

Heh hee hehehe   Better than Weiner.. hehhehe

images

Wed, 11/07/2012 - 17:24 | 2958075 HurricaneSeason
HurricaneSeason's picture

I think he owns a solar panel company in Ohio or something.

Wed, 11/07/2012 - 16:52 | 2957867 Bunga Bunga
Bunga Bunga's picture

"Government is not the solution, it is the problem" ... at least some republicans figured it out, but did the opposite in their 20 years since 1980.

Wed, 11/07/2012 - 17:29 | 2958108 RichardP
RichardP's picture

If you are quoting Ronald Reagan, he did not make a global statement.  He limited himself by saying, In this present crisis, government is not the solution ...

http://en.wikiquote.org/wiki/Ronald_Reagan

There are times when government is not the solution.  But there are times when government is the solutionTo say otherwise is to ignore reality.

Wed, 11/07/2012 - 17:35 | 2958139 akak
akak's picture

Government is a disease masquerading as its own cure.

Wed, 11/07/2012 - 17:09 | 2957980 Long-John-Silver
Long-John-Silver's picture

Republicans have been proven, they are not the cure.

 

They are a Placebo.

Wed, 11/07/2012 - 20:01 | 2958718 jamezelle
jamezelle's picture

Govt is the disease.

Wed, 11/07/2012 - 18:07 | 2958276 LMAOLORI
LMAOLORI's picture

 

 

Boehner is another Judas Christie

Boehner Extends Olive Branch on 'Fiscal Cliff'

http://www.cnbc.com/id/49731550

Wed, 11/07/2012 - 16:38 | 2957791 Gully Foyle
Gully Foyle's picture

Beavis: You know, he seems like a great guy.
Butt-head: Yeah. He's the kind of guy you would call up and say, 'Hey, you're a great guy. Why don't you come on over and stay a while?'
Beavis: Yeah. Except he kind of looks like the ass-end of a dolphin.
Butt-head: Uh, yeah he kind of does.

Wed, 11/07/2012 - 16:46 | 2957838 Piranhanoia
Piranhanoia's picture

Beavis:   What is his name?

Butthead:  Boner

he he    hehehe   hehahahehahaehahehahehheahehhheaa

Wed, 11/07/2012 - 16:53 | 2957881 Rathmullan
Rathmullan's picture

He won't. The republicans had 4 years to figure out that their own operatives were essentially working to get obama re-elected. And then they they run billy dudley's buddy's buddy as their candidate.

There are some things more important in this country than politics and that's the health of the big banks.... whom we're all bitchez to.

Wed, 11/07/2012 - 18:23 | 2958352 LMAOLORI
LMAOLORI's picture

 

 

That ought to be good got popcorn?

Treasury Pick Is Obama’s Pivotal Choice for New Term

snip

One of the top potential candidates for the Treasury job is White House Chief of Staff Jack Lew, the officials said.

A onetime aide to former U.S. House Speaker Tip O’Neill, Lew served as OMB director for Obama and former President Bill Clinton. He would bring a deep understanding of the tax and spending issues that could be at the center of the administration’s negotiations with Congress in a second term. He also has relationships with key congressional leaders and Obama’s trust, according to the officials.

Treasury Contender

Another possible contender is Erskine Bowles, who served as Clinton’s chief of staff and was co-chairman of a bipartisan panel formed by Obama that drafted a plan to cut the deficit, the officials said.

“Erskine has plenty of experience, not only in government but in business,” said John Mack, the former chief executive officer at Morgan Stanley. (MS) “The next Treasury secretary has to have experience in the global economy.” in full

http://www.bloomberg.com/news/2012-11-07/treasury-pick-is-obama-s-pivotal-decision-at-start-of-term-two.html

 

Jack Lew Former Hedge Fund Exec. at Citigroup, Made Money Off Mortgage Defaults

snip

From 2006-2008, Jack Lew was chief operating officer of Citibank's alternative investments division. And it was his division that made billions of dollars betting "U.S. homeowners would not be able to make their mortgage payments," as the Huffington Post reported. 

The piece also reported: “Lew made millions at Citi, including a bonus of nearly $950,000 in 2009 just a few months after the bank received billions of dollars in a taxpayer rescue, according to disclosure forms filed with the federal government. ”

Taxpayers still owed more than $200 billion from bailouts

http://money.cnn.com/2012/09/11/news/companies/taxpayer-bailouts/index.html

 

 

 

Wed, 11/07/2012 - 18:43 | 2958471 Nobody For President
Nobody For President's picture

Jame ie

JAME ie

JAME EEEEEEEEEEEEEEEEE

Oh wait, he screwed up, didn't he?

Wed, 11/07/2012 - 17:00 | 2957928 Chupacabra-322
Chupacabra-322's picture

This Bone head needs for a bunch of dudes to Bukakke in his face.

Wed, 11/07/2012 - 16:33 | 2957760 PLira
PLira's picture

He'll roll over like a pet goat in a mosque.

Wed, 11/07/2012 - 16:55 | 2957891 Sancho Ponzi
Sancho Ponzi's picture

 

 

 

Main Entry: Boehner

Part of Speech: noun

Definition: pansy

Synonyms: baby*, caitiff, chicken heart, chicken liver, chicken*, coward, cry-baby, fraidy-cat, jellyfish, lily liver, milksop, momma's boy, namby-pamby, pantywaist, quitter, scaredy cat, sissy, weakling, wimp, wuss, wussy, yellow, yellow belly

 

Wed, 11/07/2012 - 16:34 | 2957761 knotjammin2
knotjammin2's picture

This guy is a drunkin POS!!!  STFU!!

Wed, 11/07/2012 - 16:54 | 2957892 Joe Davola
Joe Davola's picture

Hey now, ater the way today has gone - I plan on being drunkin in a few hours myself

Wed, 11/07/2012 - 16:36 | 2957773 bagehot99
bagehot99's picture

Boner, dude.

Wed, 11/07/2012 - 16:37 | 2957780 buzzsaw99
buzzsaw99's picture

boehner. egad.

Wed, 11/07/2012 - 16:37 | 2957781 Motorhead
Motorhead's picture

What a big cry baby he is...and a total putz.  He'll be golfing with Obama somewhere by week's end.

Wed, 11/07/2012 - 16:37 | 2957785 Cognitive Dissonance
Cognitive Dissonance's picture

The pot is calling the kettle black.

<Is that racist?>

Wed, 11/07/2012 - 16:42 | 2957815 Gully Foyle
Gully Foyle's picture

Ricky: Hotel Security! This man's drunk as fuck, he's on drugs, he's a male prostitute. I'm gonna escort him out of here!
Ricky: [Narrating] I may have called him a male prostitute. I don't remember exactly, but very well he could be a male prostitute. You don't know that. But he got pissed off at me, saying 'Oh, you kidnapped me!' It wasn't kidnapping, so if he's gonna say I kidnapped him, I'm gonna call him a male prostitute.

Wed, 11/07/2012 - 16:49 | 2957851 brewing
brewing's picture

no, but you can freely smoke it in colorado now...

Wed, 11/07/2012 - 16:54 | 2957890 Matt
Matt's picture

failbook investment advice:

Pot legal in Colorado and Washington State, invest in PepsiCo!

KFC, Taco Bell, Aunt Jemima, Doritos, Mountain Dew, etc.

Wed, 11/07/2012 - 16:59 | 2957923 Joe Davola
Joe Davola's picture

Gotta figure landing fees at DIA gonna go up considerably - those ganja-touristas gonna be flying in from all parts.

Wed, 11/07/2012 - 16:55 | 2957894 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

Don't fire up that joint quite yet. The "vote" needs to be certified (within 30 days) before you can share the wealth with one another.

Wed, 11/07/2012 - 16:58 | 2957909 stormsailor
stormsailor's picture

yeah, but wouldn't it be fun to sit on the steps of the police station and fire up some fine hydro with some friends.

 

and no hassle.

Wed, 11/07/2012 - 17:00 | 2957925 brewing
brewing's picture

i live in nebraska so i'll be crossing the border twice - for a bag of weed and then taco bell...

Wed, 11/07/2012 - 17:05 | 2957949 Joe Davola
Joe Davola's picture

Gotta love how Washington state got their 25% VAT as part of their referendum.  Gonna be interesting how the oft used cry of "legalize and tax it" works out:  But Mr. Tax Collector Dude, I like totally forgot to send in the check.

Wed, 11/07/2012 - 16:38 | 2957787 DollarDive
DollarDive's picture

Take it from the rich.......  Po aint got no mo !

Wed, 11/07/2012 - 16:39 | 2957792 JoeStocks
JoeStocks's picture

He should start crying soon....

Wed, 11/07/2012 - 16:39 | 2957794 Imminent Collapse
Imminent Collapse's picture

Orange faced baboon.

Wed, 11/07/2012 - 16:39 | 2957795 DollarDive
DollarDive's picture

This guy is a Dick

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