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Chart Of The Day: Deja Boo
As an update to our comment last week on the three 'F's of US fiscal-policy-making; it seems we are following the path of last year's debt-ceiling debacle ever more closely. Once again - do we need a 20% drop in US equities to spur the politicians into action? As they try and wedge a square peg of higher taxes into a round peg or spending cuts, we suspect so...
Chart: Bloomberg
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"do we need a 20% drop in US equities to spur the politicians into action?"
Let's hope. I'd even be ok with a 50% drop.
I'd be ok with a 100% drop !
Me TOO !!
You know, I was gonig to make some comment about how TD had messed up the metaphor by saying the people dealing with the fiscal cliff were trying to fit a square peg into a[nother] round peg, rather than a round hole.
But really, looking at the jackass-ery going on in DC, that really may be the best description.
Looks like your chart is upside down; markets still going up
:-(
I hope AAPL goes there. It would be funny to watch the liberals squirm that their number one money maker (after their homes) is going up in flames.
You know it is funny. The liberals have Chief Seattle posters on the walls of their houses that say "The earth does not belong to us, we belong to earth" but they think about those houses as assets and that "their" land is super sacred to them.
They will die and they will be buried elsewhere. Their kids will sell the land to the next duchebag. And the cycle will go on.
Who will stand in for Hank "As The Former CEO Of Goldman Sachs, Let Me Warn That There Will Be Tanks In The Streets & Martial Law If Wall Street & My Bankster Buddies Don't Get a Blank Check Within 24 Hours" Paulson this time?
Dont do that mate, dont spur the fucking lunatics at all. Everything they touch ends up fucked.
They are either criminal, or they are criminally insane, one or the other.
Goldman promised 1250 on the S&P...and we all know how often that works out for the muppets.
to tylers: the US markets dropped AFTER the debt ceiling was increased last yr. not before. look at the calendar.
The debt ceiling increase on July 31st caused the credit rating downgrade August 5th. Then Geronimo.
look at aug 3 & 4th last yr. before the US was even downgraded.
Do you really think that GS, JPM et al didn't know the downgrade was coming?
So this is bullish? /sarc off
Put your helmets on , we are crashing through that ceiling.
I would raise the debt ceiling for this guy...
http://www.youtube.com/watch?v=DL-a-r7iJIU&feature=g-high
He be 3rd year collidge strudent KEEP OBAMA PRESDENT!! OBAMAPHONE!
Looks like we know when the Senate will sell out of their positions and reinvest into the market then.
Goldman already advised them on the latest takedown in gold too. They'll be BTFD on that one as well.
Next to the Wall St banksters, the US Senate just might be the most corrupt institution on the planet these days.
Luckily for us they are probably using GLD.
The thing is, good luck recovering 20% after losing 20% in todays markets....already nervous holders of equities and funds would mash the sell buttons if they drop it, and never come back either. Its like trying to hold them hostage with a double barrel hair trigger shit machinegun, and the barrel is pointed right at their own heads.
Double Barrel Shit Machine Gun - YouTube
Peak panic is still a long way off. And I ain't talking fiscal cliff panic or even debt ceiling.
<This is just pre-panic.>
Agreed. as much as i know this will fall apart, i'm frankly honest of the amoutn of people cheering fro an utter collapse. they must be all self sufficient farmers with excess funds to trade in the market.
I've been holding the SPXU. The rest in cash. That's why I cheer when I see a drop.
Some people are short.
Or 1.62 * 20% = roughly 32% drop for a nice fibonacci scale-up
The fiscal cliff is shuffling the money around in your wallet when the gas gauge says "empty".
Bottom line, going off the cliff is in everyone's best interests in Washington. This is an economic false flag.
Three topics that I''m sick of hearing about ...Greece, the fiscal cliff , and the debt ceiling. I wish Greece would default...we would drive off the cliff....and we would let the "market"determine the debt ceilng.
Greece defaulted last Summer. Where were you?
They gave everyone a "voluntary" haircut of 50% and extended maturities if I recall.
How Can People Take This Total Fool @TFMetals Seriously? http://chartistfriendfrompittsburgh.blogspot.com/2012/12/how-can-people-...
I urge you to seek counseling.
Remember guys, the fundamentals don't matter any more. We have solved the "gravity" problem once and for all. It won't matter if we go off the fiscal cliff because the issue will at least be RESOLVED. Good, bad, doesn't matter. Just resolve it and fire up the printing presses.
Compare that to Europe where they have aready resolved their problems. How's that? Well, Greece, Spain, etc. has already been resolved by resolving to not resolve it (endless can-kicking). That's why Europe is fixed right now, the Euro is soaring and we're drifting lower.
When you let go of sanity it stops hurting and things make sense again.
another buying opportunity,... the big boys could give a fuck-- easy to time the bottom on this laugh, even for mindless algos
if you want to get rich... just, go over the cliff, period!
...all the casino chips will be easy picking at the wells'p[l]ump bottom?
Jam it in... and break the M`fucker off!
;-)>
OVERLAY TWO CHARTS. PREDICT DOOM. NEXT POST.
the beast is on the gobble
and all that matters is we're all headed for it's belly
http://youtu.be/ntmthFyaYzY
WTF? What chart is that? Doesn't appear to be the S&P 500?
You could, at least, label the source of the chart.