This page has been archived and commenting is disabled.

Stocks Slump On Boehner's "No Substantive Progress" Reality Check

Tyler Durden's picture





 

We are stunned... S&P 500 futures traded 1415 when Boehner began speaking. By the end of his first paragraph we had dropped 8 points and gone red for the day...and further...

  • *BOEHNER SAYS `THE WHITE HOUSE HAS TO GET SERIOUS'
  • *BOEHNER SAYS DEMOCRATS `COMFORTABLE' GOING OVER FISCAL CLIFF
  • *BOEHNER SAYS `NO SUBSTANTIVE PROGRESS' MADE IN TALKS
  • *BOEHNER SAYS DEMOCRATS RULING OUT `SENSIBLE SPENDING CUTS'
  • *BOEHNER SAYS DOESN'T KNOW WHAT WHITE HOUSE WILLING TO DO

It seems the algos are not amused...

 

 

It seems our tweet was replied to...

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 11/29/2012 - 12:50 | Link to Comment slaughterer
slaughterer's picture

KA CHING

Thu, 11/29/2012 - 12:52 | Link to Comment krispkritter
krispkritter's picture

No progress, no surprise. I thought Boner looked a bit flaccid in that presser...

Thu, 11/29/2012 - 12:58 | Link to Comment AlaricBalth
AlaricBalth's picture

The  culture of entitlement in the US is too embedded in our societal DNA and anything less than draconian cuts to transfer payments and massive tax increases will not make a dent. Actuarially, the numbers just do not add up and the raison d'etre has to do with demographics and a lack of true political intestinal fortitude from the right and the left. The culmination of this budgetary farce will be another contrivance solely designed to kick the can down the road for another extended time period.  In essence, politicians from both sides of the aisle are simply delaying a decision in the hope that it will resolve itself or perhaps someone else will come along later to fix this untenable issue.

 

The truth of the matter is, that there is no solution and those who wield the reigns of  power in Washington and on Wall Street know it.

Thu, 11/29/2012 - 13:07 | Link to Comment PlausibleDenial
PlausibleDenial's picture

Correct, and this just in....  Sorry, could not link it.

BillTally Update

While Congress was taking its scheduled pre-election recesses, the past several issues of the Taxpayer's Tab have highlighted special topics such as the savings from repealing the Affordable Care Act, the popularity of legislation to rename buildings and landmarks, tax reform, and of course, the in-depth spending agenda analyses that NTUF conducted on certain Senate and Presidential candidates. Now that Members are back for the "lame duck" session, this issue of the Tab will return to examining the legislation that your elected officials have introduced recently.

But first, a snapshot of where our BillTally research stands and what Members have proposed so far. As of today, NTUF has researched or obtained cost estimates for 1,505 bills introduced since the start of the 112th Congress. Over 80 percent of these bills would increase spending.

Snapshot: Bill Introduction Rates and Number of Scored Bills in the 112th Congress through November 28, 2012   Scored Bills Bills to Increase Spending Bills to Decrease Spending Ratio of Increase Bills to Decrease Bills House of Representatives 921 746 175 4.3 Senate 584 489 95 5.1 Source: NTUF BillTally System

For each of the 175 bills in the House that would reduce spending, Members drafted over four to boost spending. The ratio of spending bills to cut bills in the Senate is over five to one.

These ratios are down compared to previous Congresses (for example, during the course of the entire 111th Congress the ratio was over 12:1 in the House and over 17:1 in the Senate).

On the other hand, the ratios are up slightly since the BillTally report on the First Session, which identified 3.8 increases per cut bill in the House and 4.4 in the Senate. It should be remembered, though, that the new ratios are based on a snapshot of the data and that NTUF will continue to track spending and savings proposals through the rest of the year.

Thu, 11/29/2012 - 13:25 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Boehner is slumping,

Must is get pumping,

Suddenly stocks is dumping!

Quick, must is do something!

Boris is no more rhyme finding!

Thu, 11/29/2012 - 14:23 | Link to Comment CPL
CPL's picture

Break it on down DJ!

Thu, 11/29/2012 - 13:05 | Link to Comment Bay of Pigs
Bay of Pigs's picture

+1

Spot on.

Thu, 11/29/2012 - 13:16 | Link to Comment resurger
resurger's picture

+1

in the hope that it will resolve itself or perhaps someone else will come along later to fix this untenable issue

Ron Paul has left the building, only scavengers inept fucks is whats left ..

It will never be fixed .. All down from here.

Thu, 11/29/2012 - 20:29 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

Sure there's a solution...

 

Bernanke coming out every so often to say that ZIRP will be here for 2013, 2014, then 2015, 2016, 2017, 2018, 2019, 2020, 2021... and so on, and so forth.

 

Didn't everyone know yet that we just need more papering over of the problem? I will be coming out with a new soft drink shortly, ZIRP SLIRP, in order to rise to the occasion!

 

/sarc

 

But yes, you're right of course. There is no solution from Washington, D.C.

Thu, 11/29/2012 - 14:10 | Link to Comment Anasteus
Anasteus's picture

I like these spectacular ritual dances for the masses like 'pursuing a progress' or 'no progress achieved' when no one really knows what the words actually mean. For some it means dismissing the cliff as if it never existed, for others dismissing the cliff alike while pretending something should be fixed. Both parties keep on making fuss for the appreciative public audience while at the same time everything was already decided yonks ago. The fiscal cliff restrictions, or whatever it is, will be postponed ad infinitum and additional trillions may flood into government's and private bank's accounts. That will be announced as a triumphal agreement and a 'definitive solution of the fiscal cliff'.

But, at least, the market algos and the rest of few relentless human speculators can reap the harvest out of risk-on and risk-off phases of this three-act play.

Thu, 11/29/2012 - 12:54 | Link to Comment vast-dom
vast-dom's picture

the pump up so no ka ching fool. just buy and hold deez nutz while i flip a coin and get my chimps throwing darts.

Thu, 11/29/2012 - 13:13 | Link to Comment fuu
fuu's picture

Hit an 18, 19, and trip-20.

Thu, 11/29/2012 - 12:56 | Link to Comment The trend is yo...
The trend is your friend's picture

market will be right where it was in about 30 minutes

Thu, 11/29/2012 - 12:59 | Link to Comment vast-dom
vast-dom's picture

i am stating the painfully obvious: GAME PONZI PLANET at this stage still reacting to this utter bs means we are all fucking stupid for bothering to track any of this, even if for dark comedic diversion purposes.

Thu, 11/29/2012 - 13:11 | Link to Comment resurger
resurger's picture

According to PONZI PLANET the S&P Must hold the "CRITICAL"..

Chose the right Answer:

A : The Critical 1,400

B : The Critical 1,400

C : The Critical 1,400

D : The Critical 1,400

Thu, 11/29/2012 - 13:15 | Link to Comment CPL
CPL's picture

E :  All of the above.

Thu, 11/29/2012 - 13:17 | Link to Comment spastic_colon
spastic_colon's picture

just watch the eur/usd manipulation and ctrl/p for your answers

Thu, 11/29/2012 - 12:58 | Link to Comment CPL
CPL's picture

Good news everyone!

 

It's Bullish!...just look at it.

Thu, 11/29/2012 - 12:50 | Link to Comment asteroids
asteroids's picture

Shades of 2008.

Thu, 11/29/2012 - 13:08 | Link to Comment HappyCamper
HappyCamper's picture

But, but, but... I backed up the truck with SPY calls betting on a Santa Clause rally! 

It's not fair!

Thu, 11/29/2012 - 12:51 | Link to Comment surf0766
surf0766's picture

"BOEHNER SAYS DOESN'T KNOW WHAT WHITE HOUSE WILLING TO DO"

 

answer >  nothing

Thu, 11/29/2012 - 12:54 | Link to Comment azzhatter
azzhatter's picture

they are willing to make you look like an asswipe. Mission accomplished

Thu, 11/29/2012 - 12:57 | Link to Comment surf0766
surf0766's picture

.

Thu, 11/29/2012 - 12:58 | Link to Comment drchris
drchris's picture

Wait, are you saing that compromise isn't when one side gets everything they want and the other side gets nothing?

Thu, 11/29/2012 - 12:52 | Link to Comment inevitablecollapse
inevitablecollapse's picture

i wish i could type out that sound that they play in cartoons when a submarine dives - aoooooooga, aoooooooga, dive, dive!  if anyone anticipated an 'all is rosy' outlook from the talking boehner, they were obviously let down

Thu, 11/29/2012 - 12:52 | Link to Comment Orly
Orly's picture

He is not a happy camper.

Thu, 11/29/2012 - 13:15 | Link to Comment Yen Cross
Yen Cross's picture

 I achieved "break even" Orly/  Now it's just "head lines"... Draghi Style/ all form no function!

           Now I can go over to my EBS account and chew my toe nails off/

 

Thu, 11/29/2012 - 13:01 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Whisper rumor that Obamney's teleprompter is being warmed up.

They're going to throw some algobot machine language tempting buzzwords out from the POTUS podium for some quick & nasty, hot HFT uptick love.

Thu, 11/29/2012 - 13:03 | Link to Comment resurger
resurger's picture

Get ready for Algo driven melt up in 5,4,3,2,1 ..

Thu, 11/29/2012 - 12:53 | Link to Comment azzhatter
azzhatter's picture

Ozero knows the thing is held together with string and scotch tape. He figures he can make the rethuglicans the fall guys. Good strategy. Personally, I think we crossed the point of no return long ago. Let 'er roll

Thu, 11/29/2012 - 13:27 | Link to Comment chubbar
chubbar's picture

Exactly! Knowing that we are past the point of no return, the rethugs should trot out Boner to proclaim that they will step aside and announce that they will "allow Obummer to drive the economy into the ground with their outrageous tax and spend policies". Then they should just vote present and allow the Demos to tax the shit out of everything under the sun while cutting no spending. This would just put the economy into a steeper dive than it already is and get the collapse going sooner. Not that I want either of those two parties to survive but I just don't understand why the rethugs don't realize the MSM is going to portray them as the problem either way it goes? The class warfare has caught on and the public is fully on board. Anything short of rethugs agreeing to confiscating the net worth of folks who earn over 500K is just going to make the rethugs look like they are defending the rich guys, which they are of course. That manuever would completely undercut the whole discussion and while it'd be a short term loss for that party, the Demons would be run out of dodge after the collapse, unfortunately for the rest of us it still leaves rethugs in existence.

Thu, 11/29/2012 - 19:33 | Link to Comment neidermeyer
neidermeyer's picture

I can get on board with that ,, maybe Boehner should just rent a cruise ship and take all the (R)'s out for a last hurrah around the caribbean with a free hooker in each stateroom,, give Obama EVERYTHING ... I'm tired of waiting out this slow motion train wreck , lets get it over so we can rebuild.... Where's Cuffy Meigs when you need him?

Thu, 11/29/2012 - 12:53 | Link to Comment Debtless
Debtless's picture

Crybaby. Bitch.

 

Thu, 11/29/2012 - 12:55 | Link to Comment foodstampbarry
foodstampbarry's picture

Never let a crisis go to waste

riots, mayhem , martial law...

 

Obama inserted as ruler for life...fundemental change accomplished.

Thu, 11/29/2012 - 12:58 | Link to Comment Everybodys All ...
Everybodys All American's picture

It's trans-formative. Doesn't that make you feel better.

Thu, 11/29/2012 - 12:54 | Link to Comment caimen garou
caimen garou's picture

Time to get off the tit and get to work, no time off,no going to the bar after work and they all should get  a pay cut to reflect the work they have done = 0

Thu, 11/29/2012 - 12:54 | Link to Comment HyperLazy
HyperLazy's picture

Relax, its part of the infinite circus - just BTFD and STFR.

Thu, 11/29/2012 - 12:54 | Link to Comment BlueCollaredOne
BlueCollaredOne's picture

I fucking hate all politicians

Thu, 11/29/2012 - 16:27 | Link to Comment falak pema
falak pema's picture

that sounds very freudian...

Thu, 11/29/2012 - 12:54 | Link to Comment The trend is yo...
The trend is your friend's picture

Politicians truely have a gift, they can stand in front of a crowd for several minutes speaking and say nothing

Thu, 11/29/2012 - 14:02 | Link to Comment RopeADope
RopeADope's picture

Politicians truely have a gift, they can stand in front of a crowd for several minutes telling them they will rape their children and the people will applaud.

Fri, 11/30/2012 - 11:43 | Link to Comment Silver Bully
Silver Bully's picture

'...and the people will applaud.'

It makes sense when you think about it. Politicians love to kiss babies and talk about how they do what they do 'for the children.' It isn't rape if the parents give their blessing, right?

Thu, 11/29/2012 - 12:55 | Link to Comment algol_dog
algol_dog's picture

Go over the cliff. Best thing that could happen ....

Thu, 11/29/2012 - 12:54 | Link to Comment algol_dog
algol_dog's picture

Go over the cliff. Best thing that could happen ....

Thu, 11/29/2012 - 12:54 | Link to Comment nobusiness
nobusiness's picture

Russel 2000 in a world of its own?  I guess because housing is "fixed" and the fiscal bullshit doesn't matter?

Thu, 11/29/2012 - 12:55 | Link to Comment Napoleon
Napoleon's picture

Who's better at distorting reality...algos or pisani?

 

Thu, 11/29/2012 - 12:55 | Link to Comment azzhatter
azzhatter's picture

Boner looks like he sleeps with a bottle of Jack

Thu, 11/29/2012 - 13:13 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Boner looks like he sleeps in a vat of leather dye.

Thu, 11/29/2012 - 12:56 | Link to Comment Yen Cross
Yen Cross's picture

 This shit " Not Tyler" This diatribe belongs in some stupid Quentin Tarantino [zombie flick]! Bitchez/

  Poor Tyler must be laughing his ass off, over this dis_information!  Thank GOD for zero/hedge!

Thu, 11/29/2012 - 12:56 | Link to Comment TopGunTraitor
TopGunTraitor's picture

Glad I bought QID. Everyone in Congress is a bunch of turds.

Thu, 11/29/2012 - 12:57 | Link to Comment tooriskytoinvest
tooriskytoinvest's picture

Warren Buffet Warns That The D-Day Is Here And Fed Has No More Bullets Left To Stimulate Us Economy. We’ve Kicked It Down The Road For A Long Time; Millions of Taxpayers Is Heading Into An ‘AMT Shock’

http://investmentwatchblog.com/warren-buffet-warns-that-the-d-day-is-here-and-fed-has-no-more-bullets-left-to-stimulate-us-economy-weve-kicked-it-down-the-road-for-a-long-time-millions-of-taxpayers-is-heading-into-an-a/

Thu, 11/29/2012 - 13:31 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Warren "Fuck The Taxpayers, Let's Get A HUGE Bailout, amIright Charlie Munger?" Buffet

Thu, 11/29/2012 - 12:58 | Link to Comment tickhound
tickhound's picture

Headline should read... Stocks Slump on "No Substantive Progress" Talking Points

Thu, 11/29/2012 - 13:00 | Link to Comment SheepDog-One
SheepDog-One's picture

Stocks 'slump' to comfortably green.

Thu, 11/29/2012 - 13:08 | Link to Comment tickhound
tickhound's picture

* breaking... Senator Reid about to apply magic market talk

Thu, 11/29/2012 - 13:12 | Link to Comment optimator
optimator's picture

Do Reid and bohner have the same broker with advance scripts?

Thu, 11/29/2012 - 13:27 | Link to Comment gjp
gjp's picture

No kidding.  The only surprising thing will be if the market ever goes down by more than 20% again.  I won't hold my breath.

Thu, 11/29/2012 - 12:57 | Link to Comment LongSoupLine
LongSoupLine's picture

fucking bullshit!  SPX still green!

 

if he said something good, it would be up 3 fucking %!

 

 

fuck you HFT fucking dickwads!

Thu, 11/29/2012 - 13:01 | Link to Comment Zer0head
Zer0head's picture

in time, in time  late day Dec 24th

the call options  hung by the chimmney with care

in knowledge that the cliff would no longer be there

Thu, 11/29/2012 - 13:14 | Link to Comment CPL
CPL's picture

Just round up a posse and spam the shit out of twitter and yahoo financial groups with bullshit bad news.  Add correction to the posts as well.  They seem to react to that.

Thu, 11/29/2012 - 12:58 | Link to Comment scatterbrains
scatterbrains's picture

gold said kiss my ass niggas.. never bough the hype although interesting now that it isn't selling off either... yet.

Thu, 11/29/2012 - 12:59 | Link to Comment Quinvarius
Quinvarius's picture

Listen to John William's latest interview on future money trends.  He is saying hyperinflation starts before midterms.

Thu, 11/29/2012 - 13:01 | Link to Comment SheepDog-One
SheepDog-One's picture

Why should I listen to him, none of these people have been right about jack shit. They'll do what they want, when they feel like it, thats all. 'Mid terms' my ass.

Thu, 11/29/2012 - 13:12 | Link to Comment Quinvarius
Quinvarius's picture

Avoiding a giant assraping seems like a good reason.

Thu, 11/29/2012 - 12:58 | Link to Comment Quinvarius
Quinvarius's picture

They have to drag this horseshit out until Dec 21.  Why would anyone expect anyone to admit the deal is already done now?  They don't have any choices.  They will raise the debt limit, spend more, and not raise taxes.

Thu, 11/29/2012 - 13:30 | Link to Comment gjp
gjp's picture

yes, that is exactly what they will do and the market has already disepensed with the drama.  Off and to the races on the prospect of unlmited funny money courtesy of Uncle Ben.

Thu, 11/29/2012 - 12:58 | Link to Comment SheepDog-One
SheepDog-One's picture

Wait...why does Boner even matter? Obama and dems rule. See they fucked up...they should have manipulated it so at least there would be an illusion of power strugle.

Thu, 11/29/2012 - 12:59 | Link to Comment monopoly
monopoly's picture

What a freaking circus. 

Thu, 11/29/2012 - 12:59 | Link to Comment Crtrvlt
Crtrvlt's picture

Boehner- is military spending , almost half of all spending, on the table for spending cuts......

Thu, 11/29/2012 - 13:17 | Link to Comment RopeADope
RopeADope's picture

But the politicians have to keep our Armed Forces out of the country which costs money. There is nothing more dangerous to them than armed men and women that are trained in force projection and still retain American values.

Thu, 11/29/2012 - 13:24 | Link to Comment docj
docj's picture

You do realize it's nothing even remotely close to half of all gov't spending, right?

Not saying that it couldn't, or shouldn't, be cut. (It could, and should.) But if you don't address Medicare you can cut the DOD almost to zero and HHS will absorb it all within about 10-years.

Thu, 11/29/2012 - 13:37 | Link to Comment chubbar
chubbar's picture

Perhaps he meant more than half of discretionary spending?

Thu, 11/29/2012 - 13:40 | Link to Comment docj
docj's picture

Which is like - what? - about 1/3 of all spending?

Thu, 11/29/2012 - 14:17 | Link to Comment chubbar
chubbar's picture

I believe that is pretty accurate. Of course discretionary spending is 100% of what the politicians claim they can cut, which was probably his point.

Thu, 11/29/2012 - 13:00 | Link to Comment piceridu
piceridu's picture

How did that empty suit rise to become Speaker? Ok, I already answered my own question.

We live in a country where the National philosophy is Infantilism.

Thu, 11/29/2012 - 13:06 | Link to Comment stormsailor
stormsailor's picture

mentally line that question up with the realization that the prior speaker was nancy pelosi

 

i've had sweat socks that were more intelligent

Thu, 11/29/2012 - 13:01 | Link to Comment Intelligence_In...
Intelligence_Insulter's picture

Out of control spending needs to be addressed, the coming fiscal cliff is serious.  The idealogical differences in the 2 parties is blatently clear.  Obama wants to continue socialism, obamaphones, and EBT cards, and the GOP want to tighten their belts, and let the private sector take this economy to new heights.

 

Cut social programs and start selling off government infrastructure, it's the only way this country is going to get back on track.

Thu, 11/29/2012 - 13:03 | Link to Comment Quinvarius
Quinvarius's picture

Or, make more social programs to back up the ones we cannot pay for, and create more government owned infrastructure.  You don't solve big impossible problems in politics.  You make them bigger.

Thu, 11/29/2012 - 13:11 | Link to Comment forwardho
forwardho's picture

There, you just inserted reality into his post.

Thu, 11/29/2012 - 13:04 | Link to Comment SheepDog-One
SheepDog-One's picture

'Idological differences'....'Obama wants'....'GOP wants'....its all just a BS puppet show controlled from behind the curtain.

Thu, 11/29/2012 - 13:26 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Clinton already ended welfare as we knew it. He gave them all jobs working for the government and answereing the phone for $50,000 to $100,000 a year. Bush added on with TSA. That's where the cuts will come, whether the U.S. makes them or China does. When the jobs all go overseas, the affirmative action janitors and firmen can't be making $100,000 a year, nor can the federal workers. They debated whether to make 50,000 TSA workers minimum wage private contractors or unlimitedly funded government workers. They made the wrong choice, the right choice would be to eliminate them altogether. Cutting someones $15 a month in food stamps will do nothing compared to some of the governments ridiculous wages and jobs.

Thu, 11/29/2012 - 13:03 | Link to Comment ebworthen
ebworthen's picture

Posturing, building the drama, creating a crisis so our taxes can be raised and already taxed entitlements cut.

Thu, 11/29/2012 - 13:05 | Link to Comment stormsailor
stormsailor's picture

until i see some dead bankers. this is all a lot of blather

Thu, 11/29/2012 - 13:05 | Link to Comment SheepDog-One
SheepDog-One's picture

No politician puppet has any standing to say 'we cant pay for something' ever again when its no problem to shovel trillions into TBTF banks vaults. All bullshit 100%.

Thu, 11/29/2012 - 13:05 | Link to Comment Quinvarius
Quinvarius's picture

Obama is making Boner look bad with the gov algos.

Thu, 11/29/2012 - 13:10 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

Boner says "looks good" - SP up 15

Boner says "looks bad" - SP down 8

Hmmmmmmmmmmmmmmmmmmmmm

 

Thu, 11/29/2012 - 13:10 | Link to Comment alangreedspank
alangreedspank's picture

The only bad thing about the "cliff" is the tax increases. Otherwise, spending cuts are fine and will only show how much the economy is a centrally controlled basket case.

Thu, 11/29/2012 - 13:11 | Link to Comment russwinter
russwinter's picture

Incidentally we are only $74 bn from breaching the debt ceiling.

Thu, 11/29/2012 - 13:12 | Link to Comment alangreedspank
alangreedspank's picture

"Hi, the name is Cliff. Fiscal Cliff".

Thu, 11/29/2012 - 13:17 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

SP back to 1415.  Hmmmmmm, seems BTFD is back in spades.

Thu, 11/29/2012 - 13:18 | Link to Comment Squid Vicious
Squid Vicious's picture

even boner's flaccid presser results in a mini-squeeze...un fuckin real

Thu, 11/29/2012 - 13:19 | Link to Comment Gimp
Gimp's picture

And the next four years will be.....just like the last four - SURPRISE M*****F*****S!

Thu, 11/29/2012 - 13:22 | Link to Comment RopeADope
RopeADope's picture

I think you meant to say like the last 32 years.

Thu, 11/29/2012 - 13:22 | Link to Comment digalert
digalert's picture

ShadowStats John Williams says,

"this president, this congress will see hyperinflation"

 

Thu, 11/29/2012 - 14:55 | Link to Comment blunderdog
blunderdog's picture

Yeah, BUT...

1) he says that every year

  ~and, far more important~

2) he's a fat fuck, so there's no reason to listen to anything he says

Thu, 11/29/2012 - 13:35 | Link to Comment LukeWorm
LukeWorm's picture

DEMOCRATS `COMFORTABLE' GOING OVER FISCAL CLIFF

I like that expression :-) 
 

Thu, 11/29/2012 - 14:48 | Link to Comment JLee2027
JLee2027's picture

No worries. Boehner will cave again, at the last minute. I see huge tax increases ahead.

Thu, 11/29/2012 - 15:10 | Link to Comment JohnFrodo
JohnFrodo's picture

There should be a mortorium on fiscal cliff untill the last two days, its like a basketball game, the last two minutes are all that matter.

Thu, 11/29/2012 - 15:26 | Link to Comment skunzie
skunzie's picture

From all the headlines you posted, ol' Weepyboy Boehner is nice and ready to cave in and raise taxes on us all.

Thu, 11/29/2012 - 16:41 | Link to Comment jplotinus
jplotinus's picture

So what if stocks drop because tax increases are imminent?
Tax increases are needed if the US debt level is to be reduced and annual deficit reduced. Duh...

Alternately on ZH there are usually one or more threads or charts or both lamenting and lambasting annual $trillion budget deficits. Next to those threads, other charts and threads jump up and down on why, exactly, any tax increase at all will mean the death of private sector job creation, nevermind that in the last 3 decades of ever lower taxation, the outcome for jobs has been that of outsourcing of the entire manufacturing segment and much of the service sector of the economy.

Low taxes d-int create a damn thing except wealth disparity and huge deficits.

Look, bitchez, you can't have it both ways. Taxes are too low and need to be raised. It is as simple as that.

Deal with it

Thu, 11/29/2012 - 16:56 | Link to Comment Lewshine
Lewshine's picture

DEAL DEAL DEAL...Dow rises 1000 points in an hour. Details: All investment vehicles capital gains 42% tax, Inheritance/Death tax 50%, Mortgage interest is now non-deductable, Employed and small business making more than $251,000 are taxed at 44% on income - DOW drops 25 points...But ramps another 1000 in last 10 minutes of trading.

It won't matter what they conclude except a lot of people will pay a hell of a lot more for what the Fed encouraged, and what the bankers got away with!!

Do NOT follow this link or you will be banned from the site!