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Obama's Re-Election Party Cut Short By Biggest Market Plunge In 1 Year

Tyler Durden's picture




 

As the Romney bounce was removed last night, German (and European) growth is lowered, AAPL's dominance is questioned, and the 'fiscal cliff' (oh yeah that) comes into focus, is it any wonder equity markets dumped today. Depending on which index you looked at, equities fell the most in a year (or a month) with the Dow and Nasdaq closing below their 200DMA.

 

The day's plunge was stalled at the European close with S&P futures down 48 points from their overnight highs. Much was made of the 'off the lows' nature of the post-Europe move - but all of that bullshit was dashed as we crumbled (inverse eBay-like) on considerable volume into the close after touching VWAP.

 

leaving S&P 500 futures on edge...

 

Gold and Silver held up well on the day (+3 and 2.5% on the week) - though the latter well off its highs - as oil plunged back catching down to copper on the week.

 

USD strength into the European close dribbled away all afternoon - leaving it +0.25% on the week. Treasury yields leaked back a little wider into the close but remain down 5-8bps on the week.In general risk assets led the way lower overnight and into the US day session; its clear from the chart below that the European close saw a flush of selling relative to risk - which likely spurred the rebound we saw but the close seemed like hedgers fearsome of news (Greece?)

 

 

Our call yesterday that the strength did not feel like risk-on seems prescient now and the plunge into the close today suggests more than a few others used that VWAP ramp (and Boehner's speech) to reduce size more.

VIX closed at 19% - its highest in 3 months...

Charts: Bloomberg and Capital Context

 

Bonus Chart: Everyone's favorite AAPL... Log-scale chart - so a linear-regression means that trend was exponential... Current price action just broke below 200DMA and -2 Sigma trend line... lasttime this happened we fell 43% and 53% in the next 40 days...

 


 

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Wed, 11/07/2012 - 17:19 | 2958035 12ToothAssassin
12ToothAssassin's picture

Burn Baby!

Wed, 11/07/2012 - 17:22 | 2958058 Buckaroo Banzai
Buckaroo Banzai's picture

Turd, meet Punchbowl!

Wed, 11/07/2012 - 17:28 | 2958094 Kitler
Kitler's picture

Big white porcelain punchbowl.

Wed, 11/07/2012 - 17:34 | 2958117 Michaelwiseguy
Michaelwiseguy's picture

If I don't get a decent liberty candidate from the Republican party in 2016, I'm going to vote for Joe Biden in Revenge again, and make the R's losers again.

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 - 17:49 | 2958207 economics9698
economics9698's picture

For most of you ZH'ers this blog of mine is just stating what has already been said but here are my thoughts on the re-election of Obummer.

 

http://usa-wethepeople.com/2012/11/what-will-happen-with-the-obama-victory/

Wed, 11/07/2012 - 17:53 | 2958223 flacon
flacon's picture

Six Sigma day today. 

Wed, 11/07/2012 - 18:16 | 2958338 Spirit Of Truth
Spirit Of Truth's picture

Rather remarkable that Wall Street is currently suffering the impact of winter storm "Athena" (read: Athens) as this break in mass psychology takes hold:

http://thespiritoftruth.blogspot.com/2012/11/a-break-in-mass-psychology....

Wed, 11/07/2012 - 19:20 | 2958590 ACP
ACP's picture

FUCKING NO CONFIDENCE VOTE IS WHAT IT IS!!!

Wed, 11/07/2012 - 18:08 | 2958289 Michaelwiseguy
Michaelwiseguy's picture

Just think of the poor Liberal Democrat Progressers who are in need of a free mathematics lesson they will never forget.  Have a heart.

Wed, 11/07/2012 - 18:17 | 2958341 ElvisDog
ElvisDog's picture

That blog post is ridiculous, comparing Obama to Lenin. Vladimir Lenin was a genius, a true evil mastermind. Obama is really good at reading speeches off of teleprompters. That skill gives some people the illusion that he is smart, but in my opinion there is not much behind the suit and the voice. Obama isn't even a Bill Clinton, let alone a Vladimir Lenin.

Wed, 11/07/2012 - 18:06 | 2958274 ElvisDog
ElvisDog's picture

I didn't realize your vote would decide the 2016 election, mwg....

Wed, 11/07/2012 - 17:28 | 2958102 stocktivity
stocktivity's picture

Supply the missing word for a hedge fund manager who was out of the office all day and just walked in to see the price of his beloved iApple shares......"OH _______!!!!!!!!!!!

Wed, 11/07/2012 - 17:35 | 2958140 The Gooch
The Gooch's picture

Kevin

Wed, 11/07/2012 - 23:18 | 2958512 Albertarocks
Albertarocks's picture

Edited by author because it was just such a dumb comment.  :-)

Wed, 11/07/2012 - 17:48 | 2958199 stocktivity
stocktivity's picture

I'm just being curious...but now that Obama has been reelected, can he still blame Bush???

Wed, 11/07/2012 - 17:51 | 2958218 akak
akak's picture

"Make no mistake --- we must move forward from the failed policies of the past (unless it suits my political agenda)."

Wed, 11/07/2012 - 18:08 | 2958285 Bay of Pigs
Bay of Pigs's picture

LEAN FORWARD and March...

 

Wed, 11/07/2012 - 17:54 | 2958232 FreedomGuy
FreedomGuy's picture

I just posted a similar comment on Yahoo. Actually, they are blaming Europe and saying it's just a coincidence that Obama was reelected.

I actually believe that Europe watched the USA and when they saw the Commie in Chief reelected they knew there is no way out for them. Traditionally America crashes last and recovers first pulling the world along with us. However, we are going to go the same route as Europe and we won't be pulling their economic butts out of the fire. Wait till it works it's way through the whole economy, especially now that the worst parts of Obamacare begin kicking in.

Wed, 11/07/2012 - 18:14 | 2958331 midtowng
midtowng's picture

If Obama is a commie then the Soviet Union wasn't communist.

Wed, 11/07/2012 - 18:05 | 2958269 Offthebeach
Offthebeach's picture

The local rag( Cape Cod Times) had exit interviews. One Obama voter said because of the mess Reagan and Bush
I don't know if he meant HW,GW or both

However in the guys defense, I hate LBJ, FDR,Nixon, Hoover, Wilson....and so forth

Wed, 11/07/2012 - 19:10 | 2958554 Karlus
Karlus's picture

He wont need to blame Bush now. Maybe blame The House, but with executive orders and Eric Holder, he wont eevn need to bother with a budget or anything....

Wed, 11/07/2012 - 19:18 | 2958584 hairball48
hairball48's picture

Of course he and the Dems can still blame Bush. Since when did the truth matter to those people??? You know, tell the "Big Lie" loud enough and long enough and the sheeples will believe it.

Wed, 11/07/2012 - 17:23 | 2958070 TruthInSunshine
TruthInSunshine's picture

More political Kabuki Theater, just like in 2008.

Oh no!!! The government may not bury the defense contractors and banks in taxpayer fiat!! Oh no, bitchez!! Tanks in the streets & martial law are coming!!

Where's Hank Paulson to amp this shit up & present a blank check for rubber stamping along with a cocktail napkin (outlining the plan) when we need him?

Wed, 11/07/2012 - 18:04 | 2958265 Praetorian Guard
Praetorian Guard's picture

The masses are not awake, they are sleep walking, like the undead... people (masses) will NEVER wake up to reality. The reality they seek is a witch hunt against the "haves", while they have their ears tickled by the PTB that the poor should rise up, not against the power establishment, but the rich, and evil money grubbers who, in normal times would be a measure by which to compare ones self (as in, I can obtain that too, with hardwork and ingenuity)... instead it will turn into redirected aggression against the wrong groups...

Wed, 11/07/2012 - 17:19 | 2958037 no taste
no taste's picture

Party is over for Karl Rove, too.

 

http://dearmreastwood.weebly.com/

Wed, 11/07/2012 - 17:23 | 2958066 Bastiat
Bastiat's picture

That's him in the punchbowl.

Wed, 11/07/2012 - 17:54 | 2958230 no taste
no taste's picture

Dear Clint Eastwood, A letter from an Angry Republican.

 

 

Does Karl Rove call all his funders while he is 

a) drunk

b) hung over

c) sober

d) doesn't matter, they won't take his calls.

 

Wed, 11/07/2012 - 17:36 | 2958152 Rathmullan
Rathmullan's picture

Not that it would, but the BLS could start unwinding some of the "seasonal adjustment" manipulation that it engaged in in getting the obig banks, I mean, obama, re-elected. Kev might be busy again tomorrow.

Wed, 11/07/2012 - 17:19 | 2958039 marathonman
marathonman's picture

The economy held together with bailing wire and bubble gum until November 6th can be allowed to collapse now that Barry has been re-elected.  Goldman Sachs is ripping muppets faces off again for old times sake.

Wed, 11/07/2012 - 17:32 | 2958125 Yellowhoard
Yellowhoard's picture

When a Goldman rookie rips the face off of his first muppet, does an older Sachsman pour some of the muppets blood into a tin can and insist that the rook drink some?

Wed, 11/07/2012 - 18:15 | 2958335 Offthebeach
Offthebeach's picture

New recruits are required to pick up a 20 yard dumpster worth of heated red hot pennies off a large commercial griddle range, one at a time, and fill back the dumpster.
This builds immense, calluses on the fingers which can be thrust though the vest of a living Muppet and pull out the beating heart. And the take a bite, blood running down the chin on to the pinstripes.

Wed, 11/07/2012 - 19:13 | 2958570 Karlus
Karlus's picture

"Grasshopper, when you can snatch the penny from the Client's hand, you are ready"

Wed, 11/07/2012 - 21:21 | 2958912 brak
brak's picture

it's true, the guy from Temple of Doom was director of the GS New Dehli office

Wed, 11/07/2012 - 17:40 | 2958168 LMAOLORI
LMAOLORI's picture

 

 

Baloney they just want more spending and QEternity

For Investors, More Fed Easing, Cliff ‘Heart Attack’

snip

An election that was supposed to be about change actually could end up being an intensified dose of more of the same for investors.

In the aftermath of President Barack Obama's successful re-election bid Tuesday, market experts prepared for an accelerated push of easy Federal Reserve monetary policy.

http://www.cnbc.com/id/49723418

 

Obama's best friend at Goldman Sachs

http://finance.fortune.cnn.com/2012/11/06/jan-hatzius-goldman/?iid=HP_LN

Wed, 11/07/2012 - 17:20 | 2958043 FROZENOJFUTURES
FROZENOJFUTURES's picture

Sup vix. Also RGR up pver 6.8% Guns, bitchez. Also short financials, long gold miners. 

Wed, 11/07/2012 - 17:21 | 2958045 New England Patriot
New England Patriot's picture

DBMIVFRP

Wed, 11/07/2012 - 17:21 | 2958049 TeamDepends
TeamDepends's picture

Bumps in the road

Wed, 11/07/2012 - 17:21 | 2958050 buzzsaw99
buzzsaw99's picture

poor little hedge fund maggots don't get their romney welfare checks. boo hoo

Wed, 11/07/2012 - 17:26 | 2958091 RSloane
RSloane's picture

Why would they need Romney's welfare checks, they've gotten plenty from Obama and will get even more.

Wed, 11/07/2012 - 17:28 | 2958104 buzzsaw99
buzzsaw99's picture

Yeah, the coming wars will be good for the eCONoME.

Wed, 11/07/2012 - 17:36 | 2958147 earnyermoney
earnyermoney's picture

Wars that HillBarry will start. Two cold blooded killers.

Wed, 11/07/2012 - 17:30 | 2958112 earnyermoney
earnyermoney's picture

no need. They've been receiving wellfare checks from Barry every month for the past 4 years and will get a cost of lubing adjustment in December for the next 4 years.

Wed, 11/07/2012 - 17:44 | 2958189 RSloane
RSloane's picture

Yup.

Wed, 11/07/2012 - 17:49 | 2958205 buzzsaw99
buzzsaw99's picture

that brings up another point. they are some ungrateful backstabbing bastards. O gave them so much freaking money and they shit all over him as soon as mittens came onto the scene. i hope hope o cuts them off at the knees but i know he doesn't have the ballz for it.

Wed, 11/07/2012 - 17:21 | 2958054 BeaverFever
BeaverFever's picture

Someone appears to have an Apple fetish...

Wed, 11/07/2012 - 18:31 | 2958415 Panafrican Funk...
Panafrican Funktron Robot's picture

Probably has something to do with being the one stock ticker that will either cause or "save us" from the next "crisis".  You do realize it's weighting on the NASDAQ?  Or are you just another fucking dipshit that's infected this site recently?

Wed, 11/07/2012 - 17:21 | 2958056 slaughterer
slaughterer's picture

I call bear trap.  Wait until the first QE4 rumor drops.  

Wed, 11/07/2012 - 17:24 | 2958068 fonzannoon
fonzannoon's picture

Look how long QEinfinity lasted. There is no doubt QE4 is coming. But it will get sold away like a fart in the wind. Buy real assets.

Wed, 11/07/2012 - 17:34 | 2958134 Joe Davola
Joe Davola's picture

You reminded me of an interesting question I need answered:  recently replaced my 7+ year old 110k+ vehicle and the new one came with heated seats, should I be worried if I bust a move when the electrics are on - you know, like when you dutch oven and have the flannel sheets on the bed?

Wed, 11/07/2012 - 17:44 | 2958186 IridiumRebel
IridiumRebel's picture

It will redistribute the smell just like American wealth. We are all in this together. Just make sure that the person riding shotgun doesn't have a smoke lit.

Wed, 11/07/2012 - 17:52 | 2958220 pods
pods's picture

Your biggest problem is using the seat heater for too long.

Monkey butt sucks, and God forbid you are on a long drive, Baboon Ass might set in.

pods

Wed, 11/07/2012 - 21:16 | 2958894 Joe Davola
Joe Davola's picture

Got it, limit duration to the onset of bonobo arse.

Wed, 11/07/2012 - 17:31 | 2958121 Tyler Durden
Tyler Durden's picture

Sorry, wrong answer. There is no "Fed Surprise" anymore. See "The One Big Problem With QE To Infinity"

Submit complaint to:

Kevin Henry

New York Fed, Markets Group

33 Liberty Street

New York, NY 10045

(212) 720-2777

Wed, 11/07/2012 - 17:41 | 2958175 slaughterer
slaughterer's picture

An additional $40-50b in unsterilized Treasury purchases per month alongside the open-ended monthly MBS purchases will be sufficient  to get ES above 1500, bar any sudden fiscal cliff plunge.  Of course it is not a surprise: every economist polled expects this addition to QE3infinity to come in December.   But it will be a new level of flow for guys like Kev' to play with.  

Wed, 11/07/2012 - 17:53 | 2958225 Tyler Durden
Tyler Durden's picture

Every economist polled said QE 3 (aka QE 4, aka QEternity) would be enough to bring ES above 1500.

See the problem?

Wed, 11/07/2012 - 18:01 | 2958256 adr
adr's picture

What are they going to buy?

Every bank is sending me refinance offers so they can write a new mortgage and sell it off to the Fed. The problem is the appraisers haven't been playing ball and have written every house in my neighborhood down 10% in the past six months. So even though I have the credit score, I can't refinance.

Kind of hard to make up a MBS without any actual mortgages. I am sure the banks will figure out a way somehow though.

Wed, 11/07/2012 - 18:33 | 2958432 Panafrican Funk...
Panafrican Funktron Robot's picture

"Kind of hard to make up a MBS without any actual mortgages. I am sure the banks will figure out a way somehow though."

Starts with an "M", ends with "ERS".  

Wed, 11/07/2012 - 19:41 | 2958659 MachoMan
MachoMan's picture

Ummm...  *looks around*...  you need a new appraiser or more equity.

PS, expect more write downs...  probably best to get more equity.  Might also consider selling...

Wed, 11/07/2012 - 17:35 | 2958138 resurger
resurger's picture

Do you really think that QE4,5,6,7,8,910,20 is new news?

 

Wed, 11/07/2012 - 17:39 | 2958164 akak
akak's picture

Don't be ridiculous --- there is NEVER going to be any "QE10"!

 

When they get to the double digits, they will be using Roman numerals.

 

(Personally, I can't wait to see what QEXXX is going to look like!)

Wed, 11/07/2012 - 17:44 | 2958188 Misean
Misean's picture

Just like Apple!

Wed, 11/07/2012 - 18:23 | 2958371 rqb1
rqb1's picture

Or the super bowl

Wed, 11/07/2012 - 17:52 | 2958221 RSloane
RSloane's picture

"I call bear trap." Think of it as the wedge closure, or bear wedgie if you like.

Wed, 11/07/2012 - 17:22 | 2958057 Yellowhoard
Yellowhoard's picture

No. No. No.

The market sold off because today is the first day that anyone has heard of the fiscal cliff. And Europe. And stuff.

Wed, 11/07/2012 - 17:23 | 2958065 Kastorsky
Kastorsky's picture

transitory

Wed, 11/07/2012 - 17:23 | 2958071 Timmay
Timmay's picture

Dow Futures.....

 

Wed, 11/07/2012 - 17:24 | 2958077 slaughterer
slaughterer's picture

Do we really think that Obama even noticed the drop in the market today? Even if he did, would he allow this drop to disturb his enjoyment at winning the election?

Wed, 11/07/2012 - 17:31 | 2958115 fonzannoon
fonzannoon's picture

Only If Corzine was long on margin

Wed, 11/07/2012 - 17:24 | 2958081 topspinslicer
topspinslicer's picture

Aint no party like a Deeeetroit party!!!  Keep on rocking in the former free world....

Wed, 11/07/2012 - 17:33 | 2958132 LMAOLORI
LMAOLORI's picture

 

 

Did you see who he is partying with? 

Obama will spend election night with pastor despite recent racist remarks

snip

President Obama will watch voting returns with the pastor who prayed at his 2008 inauguration and last week said that all white people go to hell when they die.

“We’ve gotten word that the Rev. Joseph Lowery, one of Barack Obama’s frontier supporters in 2008, will be at the side of the president and first lady tonight in Chicago,” the Atlanta Journal-Constitution reports.

Wed, 11/07/2012 - 17:25 | 2958082 Motorhead
Motorhead's picture

Charts, bitchez!

Wed, 11/07/2012 - 17:25 | 2958084 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Time for an off topic question if no one minds:

 

Does anyone else feel like the social/political atmosphere is growing significantly darker lately?

 

I mentioned to a few of my workmates that all markets were down today except the gun makers (earlier ZH posting) and their response was total poker faced silence.  These people are not Obama supporter types (probably would like Ronmney better if anything).  I was careful not to appear gleeful, or scared or sarcastic or anything when I mentioned it because I didn't want to color their response.  Just, "hey look at this..."

 

Whenever  mention some bit of evidence that things are out of whack these days no one wants to talk about it.  The conversation is always dropped.   On the internet I can get someone to tell me what an ignorant troll I am for bringing up Jim Sinclair but even there people just don't want to pick up on anything substantial.

 

Its like people who consider themselves educated are making "all the right moves" and they can see its not working at all for them and yet looking outside the box is *not* an option for them yet.

 

 

Wed, 11/07/2012 - 17:27 | 2958099 New England Patriot
New England Patriot's picture

I believe that is the "sleep" from which many people refer to the "waking up." 

Wed, 11/07/2012 - 17:33 | 2958128 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I always remember Republicans being treated in the press as dimwitted and probably a little racist, but in this campaign I noticed so many people treating anyone who might vote for Romney as if they were *subhuman filth*.

I tried to point out that this might be dangerous in a nation where the president can kill anyone with a drone strike and no oversight, but again, silence.

Even on "anything goes" message boards where racist rants and dead baby humor is tolerated, people seem deeply uncomfortable with any talk of substance.

I tried to start a thread on one called "Statements that made a speaker look crazy 10 years ago but are boring now" and one example was "Military drones spy on me while I BBQ!".  Again, no real interest in picking up the topic even as a joke.

Its like you can feel something simmering out there.  Still under the surface for now...

Wed, 11/07/2012 - 17:45 | 2958190 CrockettAlmanac.com
CrockettAlmanac.com's picture

I've sensed it for some time but now it's growing closer. It crept in with the autumn like a chill in the bones.

Wed, 11/07/2012 - 17:53 | 2958227 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Lots of Ayn Rand haters here will probably get down on me for this, but your post reminded me of the first few pages of Atlas Shrugged.  Probably been 15 years since I read it and I remember the deep sense of dread that filled Eddy Willers in the fall.

 

This sense that with summer long gone and all the leaves off the trees, there is now nothing between us and the cold empty sky above.

Wed, 11/07/2012 - 18:20 | 2958358 RSloane
RSloane's picture

It does feel closer, Crock, that's for sure.

Wed, 11/07/2012 - 17:38 | 2958163 CrockettAlmanac.com
CrockettAlmanac.com's picture

Waiter, we'll have 300 million cups of coffee, please.

Wed, 11/07/2012 - 17:51 | 2958215 surf0766
surf0766's picture

No the sheep are not waking up.

Wed, 11/07/2012 - 17:32 | 2958124 fonzannoon
fonzannoon's picture

More importantly they can go shit in a hat. I would stop bringing it up if I were you. They are on to you.

Wed, 11/07/2012 - 17:42 | 2958172 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I think a lot about this too.  We aren't quite at the witch-hunt point yet, but what will happen when a nation of people who think its cool to be stupid confront another market crash and are unable to hide from the fact that they cannot have what they think is rightfully theirs?

Maybe people will be fine losing everything if their neighbours lose everything too, but what if they aren't?

Yesterday's Fourth Turning post really got to me.  It wasn't the first time I had heard of the idea by any means, but people's desire not to be bothered with reality seems palpable now.

I try to walk a fine line between interacting with people enough to get a sense of where the public conciousness is, but without making enemies (in real life at least, on the internet I take out my anger by putting sticks in various establishment eyes).

Wed, 11/07/2012 - 18:02 | 2958259 pods
pods's picture

You will come to a point where you do not give a shit if they call you crazy.  

Eventually you will see that some other people sense something is wrong.  Those people you can point in the direction of knowledge and learning.

But you cannot change anyone.  Change comes from within.  (what am I a fortune cookie?)

There is going to be a whole lot of sorrow in the near future.  Try your best to prepare those who depend on you for its arrival.  

If you get bored talking to yourself IRL, come up with questions that you can inject into converstations that fuck with people's minds.

pods

Wed, 11/07/2012 - 18:09 | 2958290 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I only ever read one article on techniques used by cult-deprogrammers.  They have something I think called the "discovery method" that they use to try to help people snap out of their brainwashing.  

The idea is that you ask the member innocent sounding questions that lead them to hopefully see the contraditions between their belief system and reality on their own rather than trying to "argue them towards reason".

I must not be very good at deprogramming because I haven't saved anyone yet :)

Wed, 11/07/2012 - 18:29 | 2958404 CrockettAlmanac.com
CrockettAlmanac.com's picture

You need to talk about these things to gauge not only the public mood but the mood of specific individuals. It's imperative that you find like minded people who you can trust and who will trust you in the days ahead. If you're met with stony silence then fonz is right, let it be.

Wed, 11/07/2012 - 17:36 | 2958146 thomasincincy
thomasincincy's picture

If the woking class family that is having a hard time making ends meet and don't take advantage of the system..they are fools...sad to say. Just like the credit bubble, a runaway train

Wed, 11/07/2012 - 17:37 | 2958154 Awakened Sheeple
Awakened Sheeple's picture

I feel for the people with cognitive dissonance. They still can't face what we're going to go through, even though it's right around the corner. Poor bastards are going to be shattered.

Everyone "feels it" intuitively that all is not right with the world anymore especially the younger generation. They seem more comfortable expressing it, because they don't have anything to lose.

Wed, 11/07/2012 - 17:50 | 2958210 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

I still remember the first time I purchased some bullion coins a few years back.  It was one of the hardest things I ever did.

 

And it wasnt the money either, I was a single, carefree guy with lots more cash still than bullion.  But my heart was racing as I walked out of that store with ten ounces swinging strongly in my blue-jeans pocket (nothing humourous about that image).

 

I was almost laughing like a mad man when I thought that if a mugger had stopped me in that moment demanding I empty my pockets, he would have snatched a wad of $20s form my left hand and had no interest in the gold in my right hand.

 

Its one thing to tell yourself this shit is really happening.  Its another to take that first step...

Wed, 11/07/2012 - 18:22 | 2958368 RSloane
RSloane's picture

Most of us have been right there, ForWhom. We took the first step on the realization that it is really happening, and the worst, by far, is yet to come.

Wed, 11/07/2012 - 19:54 | 2958696 MachoMan
MachoMan's picture

this is also why you carry your gun to the coin store...  or everywhere you go (that is legal) for that matter...

Wed, 11/07/2012 - 17:44 | 2958184 JohnFrodo
JohnFrodo's picture

America is laughing. America is the only serious country that has virtually no taxation compared to the rest of the world. No national sales tax, no real tax on corporations, personal tax a joke, no real gas tax. The debt problem could be solved in 6 months.

Wed, 11/07/2012 - 18:04 | 2958266 Mike in GA
Mike in GA's picture

"The debt problem could be solved in 6 months."

 

Oh really?

Lessee, $16 Trillion of debt divided by 180 days or less = $88.88 BILLION in an economy which is only generating a total of say, $41 Billion a day = FAIL

Point is, there ain't enough to tax no matter how high the rate AND IF THEY DID TRY TO TAX THEIR WAY OUT, the revenue raised would be LESS than projected and the congress and Prez would SPEND it on some kind of assinine NEW SPENDING rather than use it for debt reduction!

 

FAIL all around and certainly in less than 6 months.

 

Wed, 11/07/2012 - 18:47 | 2958485 New_Meat
New_Meat's picture

Dave Ramsey will have a book out just in time for Christmas. - Ned

Wed, 11/07/2012 - 19:25 | 2958613 Mark Wilson
Mark Wilson's picture

That dude's pretty cool. I read one of his books several years ago and he gives very sensible advice.

Wed, 11/07/2012 - 18:04 | 2958268 jmcadg
jmcadg's picture

Really? I thought you guys even had a wanking tax!

I'd be on Food stamps!

Wed, 11/07/2012 - 18:08 | 2958286 imbrbing
imbrbing's picture

You give them all your paycheck first, I will be right behind you

Wed, 11/07/2012 - 22:20 | 2958603 BlackholeDivestment
BlackholeDivestment's picture

 The corrupt reality of social control, through the 2 Party evil vote, does not provide an escape from contempt. The general weakness of all Americans is defined by the turnout. When you sustain these two pathetic party's you really do nothing to help people escape contempt. 

If you vote for a Democrat you are a delusional Communist idiot Great Wal Mart of China Suicide Squid. If you vote for a Republican you are a delusional idiot Great Wal Mart of China Suicide Squid.

I heard some idiot media whore last night, an ''African'' LMAO American, pathetic, ...say something completely false. She said some bullshit about people not voting based on the color of somebody's skin. The numbers declare, beyond a shadow of doubt, that the ''African'' LMAO American vote was totally Black. About 5% did not go for the Lilly White Magic Mormon Underwear Man. That reality played out locally all over the country for all political posts. In D.C. it was laughable. The fact is, America has not grown up, with regard to stupid ideas like race etc...''African'' LMAO Americans are still so affected by the past racist reality they suffered throughout the history of America and they voted overwhelmingly for Apollyon, the worst of two evils, because of it. This just shows how young America still is in history. This ''black vote count'' is a weakness that defines the image of contempt, which has so affected this population, and defines a portion of contempt that has not been overcome. The country, as any individual, must pay the natural price for contempt and this vote defines the prolonged nature of the beast.  

The so called ''White'' vote is really now just down to a majority White Male vote for the lesser evil of the two partys. LMAO. The last two votes for this office define this. More males voted against keeping the same evil bastard the two party company boys of the zero interest beast offered. This means that their vote numbers in a Presidential election has finnaly been overcome by electoral demographics. It also reconfirm that White Males are still delusional enough to cast their vote for the lesser evil as if there is some degree left of whatever version of hope that indicates. LMAO. 

When it comes to the youth vote, the country is dealing with a greater poverty at this point, and in the age of information, amazingly enough, the strong delusion of a free government lunch rules the belly of this beast. 

When it comes to American women, they have offered their majority vote based on personal security and thereby defined the weakness of their condition through a socialist vote, rather than independence and liberty etc...

When it comes to the immigrant vote, it's based on a hand out too, that is simple enough. 

All of this has ''changed'' the country and defined the condition and spirit of the Country. The Constitution? DEAD!!!

When you combine the ''change'' and the ''contempt'' with a criminal class that has established a borderless crime wave, that has now marked the global labor force with the Great Wal Mart of China Suicide Vampire Squid standard of care, and captured the political system to the Vote 2 Party 666 Citizens United Company Robot Voice as an equal with a human, well, history well defines the deadly affect of the soul-less nature of the beast. This time is like no other time in human history however, correction must come to a corrupt super fast borderless global market system and pathetic centralized reserve currency system that has to deal with idiot muslims and antichrist Israelis, along with super weapons that are piled into the mix from America Europe China and Russia. Throw in natural disasters, like todays 7.4 quake etc... and you get the prophetic combination of the strong delusion, ethnic and civil war, that turns global. The natural correction that plays out this time shall be massive. Trying to force the speed of, and amount of, immigration in first world countries all over the world, through a U.N. Agenda etc..., to allow for multiculturalism at a pace beyond assimilation has increased the power of singularity for the voice of contempt. The leaders of Europe have declared this plainly and the vote for socialism in the United States well reflects the falling away from the love for the Constitution's call for freedom from government tyranny which defines the high price now paid by local labor, all over the world, now subject to a not ''more'' lol perfect union, but more compromised and flawed, to the point of global market failure and geopolitical unrest. 

The falling away is at hand and the correction is going to be big and horrible. 

P.S. Mr. Down Arrow, lol, please have balls enough to make your case. I am actually interested in what you object to. LMAO.

Wed, 11/07/2012 - 17:25 | 2958085 Bastiat
Bastiat's picture

Does Obama have to get on his knees before Lord Blankfiend in order to turn this around?  Or, does he care at this point?

Wed, 11/07/2012 - 17:35 | 2958141 Bastiat
Bastiat's picture

Damn.

Wed, 11/07/2012 - 17:55 | 2958237 RSloane
RSloane's picture

Double damn!

Wed, 11/07/2012 - 18:01 | 2958258 Tenshin Headache
Tenshin Headache's picture

So Fed intervention is driven by the MOON? Who would have thought!

Wed, 11/07/2012 - 18:13 | 2958314 imbrbing
imbrbing's picture

I would say QE to the moon, but I think it has reached past that. Ths link was when it was 14T

 

http://www.dailymail.co.uk/news/article-1390090/One-giant-debt-mankind-U...

Wed, 11/07/2012 - 17:29 | 2958089 Rockfish
Rockfish's picture

That POS casino was headed for dive no matter who won. If you were yesterday you deserve the hit today.

Wed, 11/07/2012 - 17:26 | 2958092 Seasmoke
Seasmoke's picture

who cares about the market.......today is my 2 year ZH anniversary !!!!!!!

Wed, 11/07/2012 - 17:36 | 2958120 fuu
fuu's picture

Grats on the 44 minutes!

That was your 3032 post, your 1192 of 2012.

Wed, 11/07/2012 - 17:55 | 2958236 Yen Cross
Yen Cross's picture

Fuu, you da man! :-)  Well said.

Wed, 11/07/2012 - 18:05 | 2958270 fuu
fuu's picture

<bow>

Wed, 11/07/2012 - 17:27 | 2958096 JPM Hater001
JPM Hater001's picture

The band Chicago should write a ballad about this.

Wed, 11/07/2012 - 17:29 | 2958107 BlackholeDivestment
BlackholeDivestment's picture

...the Black Horse just turned Pale, and you know what follows. 

Oh now I get Clint's empty chair. You see, when you abort labor and are married to your own image... LMAO.

Wed, 11/07/2012 - 17:32 | 2958123 surf0766
surf0766's picture

False Flag..

Wed, 11/07/2012 - 17:35 | 2958137 malikai
malikai's picture

Pretty good day here. Heh.

http://blog.quantsig.net/2012/11/07/post-election/

Forex, equities, commodities, and paper.

Wed, 11/07/2012 - 17:37 | 2958157 bania
bania's picture

To: Barack Obama

CC: Ben Bernanke

 

Dear Barack,

Today was a friendly reminder who still runs this country.

Kindest regards,

- Wall Street

Wed, 11/07/2012 - 17:37 | 2958158 clagr
clagr's picture

I feel sorry for Obama; look at the mess he has just inherited!

Wed, 11/07/2012 - 17:43 | 2958183 surf0766
surf0766's picture

IN Amerika all his mess are belong to you.

Wed, 11/07/2012 - 17:37 | 2958159 JohnFrodo
JohnFrodo's picture

Whoever was elected was going to be greated by a tough market. Everyone knows the dirt under the carpet is not just peeking out, its staring down the planet.

Wed, 11/07/2012 - 17:43 | 2958179 Agent P
Agent P's picture

Obama's Re-Election Party Cut Short By Biggest Market Plunge In 1 Year.

Obama's response: "Like I give a shit!"

Wed, 11/07/2012 - 17:44 | 2958185 surf0766
surf0766's picture

Where's Jay-Z

Wed, 11/07/2012 - 18:02 | 2958260 LMAOLORI
LMAOLORI's picture

 

 

Who knows my guess would be partying with the obama's seems they scratch each other's backs

Beyonce and Jay-Z help raise $4 million for Obama

 

Spending on White House dinners soars under Obama

President Obama has spent far more lavishly on White House state dinners than previous chief executives, including nearly $1 million on a 2010 dinner for Mexico's president, according to documents obtained by The Washington Examiner.

Presidents have long used formal dinners to court foreign heads of state and to dish out fine food and wine to reward political, financial and show business celebrities and supporters.

But current and former government officials said the documents obtained by The Examiner point to an unprecedented upsurge in White House spending on such events.

The Obama extravaganza two years ago for Mexican President Felipe Calderon, which included a performance by pop star Beyonce, cost $969,793, or more than $4,700 per attendee, the documents show

more

http://washingtonexaminer.com/spending-on-white-house-dinners-soars-under-obama/article/2511758#.UJmEu4WhA-M

Wed, 11/07/2012 - 18:33 | 2958427 edifice
edifice's picture

Ah, well, when you consider that $1 million is only 25 seconds of government spending, it doesn't seem like a big deal.

Wed, 11/07/2012 - 17:50 | 2958209 buzzsaw99
buzzsaw99's picture

I hope to hell that was his response.

Wed, 11/07/2012 - 18:25 | 2958384 WAMO556
WAMO556's picture

Actually, he has been tapping Beyonce's ass. Why do think she keeps showing up at his parties and why MOOCHELLE is mad??!!

Wed, 11/07/2012 - 17:47 | 2958198 Yen Cross
Yen Cross's picture

 Are you kidding me?

I'll bet Obama jumped on some unmarked jet out of Andrews AFB, and flew to " Oahu Hawaii" for Choom Fest 2012<>

 

Wed, 11/07/2012 - 17:48 | 2958203 Big Ben
Big Ben's picture

For Big O and his supporters, a stock market plunge is like icing on the cake. After all, isn't it unfair that some people have more money than others? So a stock market selloff promotes fairness and equality.

Wed, 11/07/2012 - 17:51 | 2958212 buzzsaw99
buzzsaw99's picture

Unlike a freaking five year fraudulent prop job which forces everyone to pay too much?

Wed, 11/07/2012 - 18:07 | 2958279 RSloane
RSloane's picture

There's going to be plenty of 'fairness and equality' to go around soon.

Wed, 11/07/2012 - 19:08 | 2958544 ersatzteil
ersatzteil's picture

They better hope that money stays in stocks if they know what's good for them...all that cash entering actual circulation is going to hurt like hell come time to buy "transient items too volatile to be measured in inflation" like food and gas. Cheaper to keep it spinning round the washing machine.

Wed, 11/07/2012 - 17:48 | 2958206 surf0766
surf0766's picture

Where's all the communist today. I thought they would be all over this place

Wed, 11/07/2012 - 18:06 | 2958273 RSloane
RSloane's picture

They were here but their sheltered workshops closed and they had to stop typing.

Wed, 11/07/2012 - 17:51 | 2958214 Misean
Misean's picture

Were the riggers overrun by margin calls or did the Feral Reserve run out of ink?

Wed, 11/07/2012 - 17:51 | 2958217 dltff-ya
dltff-ya's picture

http://hillbuzz.org/did-the-ron-paul-revolution-stay-home-last-night-84239

 

Thats what you get for treating 9 percent of your party like crap. 

Wed, 11/07/2012 - 18:40 | 2958453 Urban Redneck
Urban Redneck's picture

Unfortunately the 3 million is down to less the robamany vote differential, and the number will continue to drop.

Wed, 11/07/2012 - 17:52 | 2958222 doomandbloom
doomandbloom's picture

Forward, bitchez

Wed, 11/07/2012 - 17:54 | 2958231 Henry Chinaski
Henry Chinaski's picture

It will be interesting to see who resigns and who stays with Obama after this election.

Wed, 11/07/2012 - 18:20 | 2958360 surf0766
surf0766's picture

How many red diaper babies are there?

Wed, 11/07/2012 - 17:54 | 2958233 uncle reggie
uncle reggie's picture

Why does anyone even pay attention to the manipulated gyrations of the Dysfunctional Great Casino? Must love that gamble fix.  

Wed, 11/07/2012 - 17:54 | 2958234 Silverhog
Silverhog's picture

Life Sucks then you Die. Sounds like the new slogan to me.

Wed, 11/07/2012 - 18:24 | 2958379 Seasmoke
Seasmoke's picture

Birth. School. Work. Death.

Wed, 11/07/2012 - 18:49 | 2958491 New_Meat
New_Meat's picture

And the government was with Julie at each step of the way!

Wed, 11/07/2012 - 17:58 | 2958242 tooriskytoinvest
tooriskytoinvest's picture

Jim Rogers: Obama re-election means disaster is now guaranteed

Bond King Bill Gross: These coming tax increases could hammer your stocks
http://www.moneynews.com/StreetTalk/Gross-investment-income-taxes/2012/11/07/id/463215

THE SUGAR HIGH WILL END AND TIME FOR MARGIN CALLS!! Stock Market Is At Risk Of Losing 2,000 Points Within The Next Few Weeks
http://investmentwatchblog.com/the-sugar-high-will-end-and-time-for-margin-calls-stock-market-is-at-risk-of-losing-2000-points-within-the-next-few-weeks/

Wed, 11/07/2012 - 18:13 | 2958316 walküre
walküre's picture

Gold, corn and wheat are up. Does anything else matter? "Flyover" farming country should have voted Obama. He's our man. Cheaper fuel, higher commodity prices. Win, win. Romney wanted to drive those farms into default and buy them cheap. The farmers in the Midwest may not realize that but their biggest nightmare is not happening. Unless of course Obama goes full Stalin and confiscates the farms to feed the people as a measure of national security. That would be the biggest nightmare.

Wed, 11/07/2012 - 18:32 | 2958425 lakecity55
lakecity55's picture

You can pretty much count on the "Uncle Joe" thingy.

Wed, 11/07/2012 - 18:34 | 2958434 chump666
chump666's picture

Who caught this?  If so congratulations.

Didn't see it coming.

Wed, 11/07/2012 - 18:38 | 2958445 orangegeek
orangegeek's picture

SP500 forecast from last see could see it was coming.

 

http://bullandbearmash.com/chart/sp500-weekly-closes-week-week-lot-worse/

Wed, 11/07/2012 - 19:01 | 2958532 dark pools of soros
dark pools of soros's picture

The Bernack will be back from his hangover... BTFD

Wed, 11/07/2012 - 19:44 | 2958664 Thomas Paine
Thomas Paine's picture

Could it be...could it be today's market theater was allowed to slip a little harder to help convince the adoring prols their puppet in chief is really, really gonna stick it to the man?  Maybe think like a criminal...to see thru these pathetic illusions. What a farce. Yeh just BTFD bichezzz!

Wed, 11/07/2012 - 20:06 | 2958728 ersatzteil
ersatzteil's picture

"Who run Bartertown?"

"You know who."

"Say it."

"Bernankster WallSter run Bartertown."

"Lift market!"

Wed, 11/07/2012 - 21:26 | 2958924 toomanyfakecons...
toomanyfakeconservatives's picture

A lot of small businesses and non-favored industries may as well close up shop now that the Golfer in Chief has 4 more years.

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