A Snapshot In Charts: You Are Here

Tyler Durden's picture

While there was clarity in the recent election results -  there will not be any impending vote recounts that would leave control of the country hanging in the balance - Tuesday night’s results did nothing to change the basic dysfunctional dynamic between the two political parties. Now the fiscal cliff will have to be addressed in the coming lame duck session, and it won’t be easy to find a solution... Congressional Republicans retained the House majority — and by extension, in their view, a stance against higher taxes. Democrats kept control of the Senate and the White House, which they see as an affirmation of their view that deficit reduction must include some serious tax increases.

Victory guarantees the president nothing more than the headache of building consensus in a gridlocked capital on behalf of a polarized public, that has become tired of struggling with heightened uncertainty. If the president begins his second term under any delusion that voters rubber-stamped his agenda on Tuesday night, he may be doomed in his second term, and so is the outlook. The probability of Ben Bernanke’s tenure at the Federal Reserve being extended has also gone up – Mitt Romney had expressed his dissatisfaction with Bernanke’s wide-ranging and unconventional measures.

In this issue of the PunchLine I reiterate my concerns regarding the growing gulf between the behavior of investors enamored with monetary largess and the realities on the ground of globally weak economies... Add the risk of more corporate-earnings disappointments and we have a situation that needs remedying. The continuing slowdown in the global economy through late 2012 will almost certainly damage household and business outlooks even into 2013… and make fiscal repair more difficult. Indeed, visible signs of growth acceleration are difficult to find as the advanced economies remain inadequate almost across the board and the expected cyclical recovery in developing countries will be slow to develop, and probably not up to previous peak trends.


The Punchline

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
francis_sawyer's picture

While there was clarity in the recent election results...


I stopped there... (That was the PUNCHLINE)...

NotApplicable's picture

Unlabeled guest post, or inadvertently outed Tyler?

ebworthen's picture

Abraham Gulkowitz?

It's possible, but I doubt it.

buzzsaw99's picture

CEOs call for action to reduce u.s. deficit.


Yeah, when they're not demanding the gubbermint stop the impending fiscal cliff. what a bunch of aholz.

StychoKiller's picture

Dear Archer-Daniels-Midland:

Since corporate CEOs are demanding that we cut spending, we started with your subsidies and tax-breaks.  Tough break, big guy(s)!

cc:  General Electric, Exxon, Pfizer, etc.

Your buddies in Congress.


zorba THE GREEK's picture

It feels a lot like winter is coming, on the ground

and in the markets.

Dr. Engali's picture

So we are screwed.....OT  1/3 of American sheeple don't mind the TSA shoving their fingers up their ass so they can fly...






misnomer's picture

I'm guessing the 1/3 that belongs to the lbgt community? 

CunnyFunt's picture

I would consent only after taking a strong laxative.

infinity8's picture

About 3 weeks ago I met a woman (elderly) who lives in England (a good friend's mother) who is here in the US for a month long visit. I asked her how was her trip. She said not so bad this time because she must have looked "doddering" and they "didn't bother her too much". She travels a lot and also said "you get used to it".

I just need to check your asshole:


madcows's picture

I thought LGBT only made up about 3% of the population.  Guess I was wrong.

nmewn's picture

I want my free stuff!

Harbanger's picture

I never wanted free stuff before but now I do.  I'm applying for every free stuff program I can find before they run out.

nmewn's picture

Might as well strip it down to the wall studs before the termites get it ;-)

madcows's picture

It is now take or be taken. 

Today's new citizen is the irresponsible epicure.  They want everything that makes them feel good, and they want it for free from the government.  Pot?  Gimme.  Contraception?  Gimme.  Let me get high and fark everything, then give me a government funded abortion or EBT and all the child care fixings on the side.  I want a house, car, phone.  Gimme. Gimme. Gimme.

Ride the ship down.  Take as much from it as you can.  B/c the end is nigh.  There is more debt per person in this country than there is in Greece, and monetization ain't working for us (just the opposite).  This bitch is going down, in a bad way.

pragmatic hobo's picture

after all the insanely nasty posturing regarding immigration it's no wonder the republican's and their tea-party cohorts lost hispanic and to a large degree asian votes. To add to the lunacy romney chose tea-party runt as his his vp choice. Way to go bone heads.

nmewn's picture

"after all the insanely nasty posturing regarding immigration it's no wonder the republican's and their tea-party cohorts lost hispanic and to a large degree asian votes."

What "insanely nasty posturing regarding immigration"?

WAMO556's picture

Time to cross swords with your ass. When you get pulled over by a cop, there is an immediate request for: drivers license, proof of insurance and registration. However, to become a registered voter, all you have to do is go to the DMV get a license (motor - voter), all you need to get a license is a utility bill or some flimsy piece of paper, and poof now your a democrat voting automaton.

HOWEVER, the background has been setup that if you oppose immigration, showing proof of citizenship is RACIST. FUCK YOU!!!!!

I believe that the integrity of the voting system has been purposefully compromised by domestic enemies of the state..

If you ain't a citizen, a registered alien then your AN ILLEGAL ALIEN.

If you vote and are an illegal alien, then the death penalty will be applied. Non citzens do not have constitutional protection.

The problem is NOT immigration, the problems are people who vote who should not be voting.

If you don't like it, too bad. This shit will get fixed. And soon!

Dr. Engali's picture

I'm not quite certain who you are yelling at with this one. If you're addressing nmewn then I suggest you read his post again.

nmewn's picture

Apparently you're talking to the hobo.

eclectic syncretist's picture

The black-haired Jewish youth lies in wait for hours on end, satanically glaring at and spying on the unsuspicious girl whom he plans to seduce, adulterating her blood and removing her from the bosom of her own people. The Jew uses every possible means to undermine the racial foundations of a subjugated people. (Book 1 Chap 11)
-Adolf Hitler (Mein Kampf)

Lednbrass's picture

Wanting immigration law enforced is "insanely nasty posturing"?


madcows's picture

Forget the 2 consecutive quarters definition.  I don't think we ever left the first one.  The government just borrowed us some GDP points from Ben.  Take the government's borrowed portion out of the GDP and the numbers are still negative.  Borrowed money is not growth.  It's just the opposite.  The collapse and consolidation was never permitted to happen, but it will, soon enough.

Shizzmoney's picture

All of the casinos are in debt........no wonder shit is so expensive!

jplotinus's picture

"I never wanted free stuff before but now I do. I'm applying for every free stuff program I can find before they run out."

Did you ever want a modern, post-Bismarck, nation state, not to mention post- modern transnational norms of a civil society? Or are you pining for an earlier epoch?

Mind you, I am not here leading you on. There is no wrong or right answer. You are evah free to want your vision of the society you live in. I am just ax-in.


Totentänzerlied's picture

"Did you ever want a modern, post-Bismarck, nation state"

Yeah. but the liberals tell me I'm just being ungrateful!

jplotinus's picture

"Wanting immigration law enforced is "insanely nasty posturing"?"

Yes. Deal with it.

mypearl's picture

The new rich is to be debt free. But for how long...

Return2Sanity's picture

Interesting to see so much chatter today about how the Republicans need to get their “fringe elements” under control, including an editorial on FT.com, along with a conveniently-timed CBO report showing how many jobs will be lost if the spending cuts passed last year actually take place as planned. By fringe elements, of course they mean the candidates who dare to think that democratically-elected representatives should be the ones to make decisions about the size of the federal deficit. It would seem that the technocrats' model for using public debt as a policy tool to offset private balance sheet deleveraging doesn't contain a variable for the right of the people to self-govern.

1eyedman's picture

there is no 'fringe'...or political 'spectrum', its a cirlce.   draw circle, divide in thirds, label DEM, REP, LIB around the edge....'middle of the road'  is where DEM REB touch;  DEM LIB touch on liberal social issues;  REB LIB touch on free mkt conversatism....

yes easy for technocrate to use OPM....if they didnt use our future taxes to back everything the investors/current owners/plutocrats  would have to eat it...

Grand Supercycle's picture

WILE E.COYOTE crash update.

SP500 head & shoulders formation on daily chart continues.
SP500 weekly chart also shows likely head & shoulders.
DOW monthly chart shows bearish rising wedge.

The current bearish price action comprises the first installment of the very overdue Wile E. Coyote sell off.

As mentioned, the previous SPX meltup - devoid of healthy retracements - has caused the coming crash.

One can only stretch the bungee cord so far before it reacts...


Look Out Below.