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The Fiscal Cliff... In Context

Tyler Durden's picture




 

Some have argued that a fiscal-cliff-impacted US economy would enter a recession as hard as Manny Pacquiao hit the canvas on Saturday night but for most of the nation it seems the fiscal cliff is of secondary importance...

 

 

Via Google Trends - it appears the little Phillipino punching machine is more 'interesting' than the fiscal cliff...

Will Pacquiao-Marquez 5 coincide with Debt-Ceiling II?

 

(h/t @Not_Jim_Cramer)

 

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Mon, 12/10/2012 - 20:17 | 3050297 JeremyWS
JeremyWS's picture

Arguably the worst thing about modern society, Something relatively insignifcant is seen as far more important. Sad if you think about it, frankly we deserve to go over the cliff.

Mon, 12/10/2012 - 20:29 | 3050328 ZeroSpread
ZeroSpread's picture

Simpsons and the Fiscal Cliff. 

 

 https://www.youtube.com/watch?v=c91usT4P1u0  

Mon, 12/10/2012 - 20:29 | 3050335 stocktivity
stocktivity's picture

How did we ever as a nation allow one man (Bernanke) such power? Fuck you Bernanke!

Mon, 12/10/2012 - 20:57 | 3050414 CPL
CPL's picture

http://www.seasteading.org/

 

He'll be sea steading in no time with his buddies...once they figure out how to keep one from being swamped or overrun with pirates it will be a parasite tax haven.  ParaDISE sorry...freudian thing going on there.

Mon, 12/10/2012 - 21:08 | 3050442 MiguelitoRaton
MiguelitoRaton's picture

If Boehner and Obama went 3 rounds UFC-style I would pay for that shit, winner gets his way with the cliff.

Mon, 12/10/2012 - 21:37 | 3050512 CPL
CPL's picture

If the government handled the affair it would be promoted like UFC and play out like two old men having a thumb war.

 

One, two, three, four

let's start a thumb war!

 

wonder what the spread on that would be....

Tue, 12/11/2012 - 02:50 | 3051233 prains
prains's picture

Steven Harper is more interesting than the fiscal cliff   

Mon, 12/10/2012 - 20:36 | 3050353 GeorgeHayduke
GeorgeHayduke's picture

"...frankly we deserve to go over the cliff."

I have been saying that for quite a while. We will go over the cliff once the owners have protected themselves as well as then can, and not until then.

Mon, 12/10/2012 - 21:05 | 3050429 Ham-bone
Ham-bone's picture

any society that celebrates likes of Honey Booboo...well, let the chips fall where they may.

Mon, 12/10/2012 - 23:12 | 3050778 Mr. Magoo
Mr. Magoo's picture

Forget the fiscal cliff, i am more concerned with how the Duchess of Cambridge is feeling with her tummy sickness and why they murdered that poor nurse

Mon, 12/10/2012 - 23:18 | 3050806 Mr. Magoo
Mr. Magoo's picture

Go over??? we have already gone, just waiting to see the poof of smoke like wiley e coyote

Mon, 12/10/2012 - 20:17 | 3050298 Calidreaming
Calidreaming's picture

What fiscal cliff?     no one cares.   market going to rip up no matter what happens.    Where the hell is a asteroid when you really need one?

Mon, 12/10/2012 - 20:39 | 3050363 ball-and-chain
ball-and-chain's picture

That's what I say.

Fiscal cliff, smiscal cliff.

Bring it on.

And screw the man.

I've got my gun and my canned chili.  What can they possibly do to me?

http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-walked-ten-miles-through.html

Mon, 12/10/2012 - 22:02 | 3050566 Northern Lights
Northern Lights's picture

Don't forget the toilet paper................you know................regarding the chilli.

Mon, 12/10/2012 - 23:17 | 3050793 Mr. Magoo
Mr. Magoo's picture

I got my supply of Dinki Di and my V-8 interceptor 

Mon, 12/10/2012 - 20:19 | 3050299 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Rumor is Kim Kardasion's kitten just died, so that should keep everyone's mind off of other issues tomorrow.

Mon, 12/10/2012 - 21:21 | 3050477 IndicaTive
IndicaTive's picture

"Kardashian Smelly Pussy Scandal" Ryan Seacrest has the exclusive! But first...a word from our sponsor...

Mon, 12/10/2012 - 21:54 | 3050537 A Nanny Moose
A Nanny Moose's picture

What do you mean I'm suppose to feed them?

Mon, 12/10/2012 - 20:18 | 3050302 ghengis86
ghengis86's picture

One's scripted and the other is boxing (never thought I'd say that!)

Mon, 12/10/2012 - 20:30 | 3050308 LongSoupLine
LongSoupLine's picture

overlay the X-Factor and other brainless TV programming too...

 

 

you want to know why we're in the fucking mess we're in?  Look no further than the completely fucking full retard voting public who would eat a fucking steaming pile of dog shit on a bun if a boy band or Obama came on the fucking TV endorsing it.

 

Fuck these idiots...they can't be pushed over the fucking cliff fast enough.

Mon, 12/10/2012 - 20:25 | 3050315 Frastric
Frastric's picture

Is promptly youtubing Manny Pacquiao to waste away the next few hours...

Mon, 12/10/2012 - 20:28 | 3050325 chump666
chump666's picture

We all need to take the pain, simple. Pain is part of life and fuel for the journey.  But alas, our pathetic, ball-less, hollow, clueless lame a-hole leaders decided that they can drip feed illusion ad infinitum.  Problem is they listened to those academic pieces of turd, namley the Keynesian nut-cases that didn't learn from history - about how empires are killed by their own self indulgence.

 

 

Mon, 12/10/2012 - 20:41 | 3050367 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It's way beyond that.  It is not pain per se but who indeed should feel the pain.

The US Gvernment was bought by bankers and then sold out to the highest bidders over the years.  Now China et al have a controlling interest along with the said bankers.

They did this by creating the for profit and private Federal Reserve System, confiscating America's gold, devaluing the dollar, then going to war and spending the credit at the Treasury, then debasing the system more by going on a defacto fiat money standard, and then having the Fed take the losses as corproations went bankrupt.

Yet this does not mean I or anyone other AMerican should feel pain.  No, what should happen is we take control of America and take control of the money supply.  We shoud dispose of the Fed and the debt issued by the for profit banking cartel, reinstitute a gold standard, pull out of all foreign occupations, and then the system will be purged.

Tue, 12/11/2012 - 01:55 | 3050720 chump666
chump666's picture

Pain is universal. Wall Street and Detroit car industry should have been dismantled after 2008, shake them up, make them work for it.  Instead, they were bailed out.  No one should be bailed out. 

I agree with your post.

Mon, 12/10/2012 - 20:29 | 3050332 Jason T
Jason T's picture

we fell off the cliff in 2008.. we're deep in the ravine.  Man, this "cliff" stuff is propaganda .. war is peace, slavery is freedom.. look at the charts of the deficits.

 

getting out of the ravine is next to impossible..so there is no "fix."

 

give America 2 years...4 max before it gets dark and the wolves and coyotes come out 

Mon, 12/10/2012 - 20:53 | 3050400 odatruf
odatruf's picture

A fix is possible in that there are decisions that could be made which would improve the system and its outcomes. It won't be fixed because our heads are too far up our asses to do the right things.

Mon, 12/10/2012 - 21:37 | 3050510 kridkrid
kridkrid's picture

Sorry. You are wrong. Debt money plus usury = certain collapse. It's just timing. The narrative that you are repeating is provided as a distraction. Give people the sense that "if only we would have done A or elected B". None of it matters. The system has worked and functioned as designed and will collapse, as designed.

Mon, 12/10/2012 - 20:34 | 3050345 XOFnews
XOFnews's picture

but...but..oreilly is on sooner

Mon, 12/10/2012 - 20:45 | 3050376 nmewn
nmewn's picture

68 billion annually (higher taxes on "the wealthy" @ 200k...lol) against a 1.5 trillion annual spending deficit.

Sure.

Maybe if I started smoking crack this would make some kind of sense.

Mon, 12/10/2012 - 20:48 | 3050383 Racer
Racer's picture

Butterfly just got deaded

Mon, 12/10/2012 - 20:49 | 3050385 Atomizer
Atomizer's picture

BIS Quarterly Review, December 2012 |10 December 2012

IMF Adopts Institutional View on Capital Flows | 03 December 2012

 

Connect the dots..

Mon, 12/10/2012 - 20:54 | 3050404 tip e. canoe
tip e. canoe's picture

sidenote: Natural disasters resulting in significant losses have become more frequent in recent decades, with 2011 being the costliest year in history. Sebastian von Dahlen (International Association of Insurance Supervisors) and Goetz von Peter (BIS) explore how risk is transferred within and beyond the global insurance sector and assess the financial linkages that arise in this process. While most of the risk is retained within the global insurance market, part is transferred through retrocession and securitisation to other financial institutions and the broader financial market. These links appear small, but little is known about who exactly ultimately bears the corresponding risks, as no comprehensive international statistics exist.

http://www.bis.org/publ/qtrpdf/r_qt1212e.htm

Mon, 12/10/2012 - 20:50 | 3050389 asteroids
asteroids's picture

It was a good fight last Saturday. Manny was winning on points and was fighting very very smart. He was going for the kill, but his opponent caught him. Bang, out like a light. I wonder what the market equivalent would be?

Mon, 12/10/2012 - 20:54 | 3050402 Seasmoke
Seasmoke's picture

I don't remember Obama ever getting us out of the "ditch" and yet now we are heading for a "cliff ".

Mon, 12/10/2012 - 21:09 | 3050446 nmewn
nmewn's picture

The can has been kicked to the end of the lazy, quiet cul-de-sac...so clearly, this calls for another government project to (by Eminent Domain) seize that families house at the end (during Christmas) bulldoze it...and extend the road.

Its what they do. They are fucking cowards.

"Here are the parameters that constrain us, (they say) all we have to do is change the parameters."

Debt ceiling goes up, so does gold, dollar goes down. Rinse, repeat, keep their pension intact, give themselves a raise to offset dollar devaluation.

Gimme my debt binky! ;-)

Mon, 12/10/2012 - 20:54 | 3050405 RobertC
RobertC's picture

Tyler,

It's Filipino, not Phillipino.  Otherwise, good post.

Tue, 12/11/2012 - 10:14 | 3051618 TheCanadianAustrian
TheCanadianAustrian's picture

I checking to see if anyone else noticed this before I mentioned it myself.

Mon, 12/10/2012 - 21:03 | 3050428 surf0766
surf0766's picture

The marxist want the cliff and more spending to crush the system.

Mon, 12/10/2012 - 21:44 | 3050521 kridkrid
kridkrid's picture

There are no Marxists. That is absurd. Fed to you to keep you off the scent. We have a uniquely American form of fascism masquerading as some sort of democracy made possible through the illusion of voting. Wake up and think for yourself.

Tue, 12/11/2012 - 01:19 | 3051122 Savyindallas
Savyindallas's picture

A vicious form of Fascism has truly taken over America  -but is it really "American"? I think it's the globalists. I believe Hitler and Mussolini were nationalist Fascists  -they cared for their countrymen  -at least those of germanic and Italian stock  - the fascists who run America don't give a damn about America or Americans  -they are doing everything to destroy the culture and racial makeup of what used to be Americans  -at least the 90% who were European Christians.  

Tue, 12/11/2012 - 08:06 | 3051425 kridkrid
kridkrid's picture

I'd go with that. That story makes sense and is consistent with the things we have been witnessing for the past _________ years (40, 60, 80, 100). This manufactured garbage about Obama as a Marxist and some sort of annomoly is retarded. It retards the conversation.

Mon, 12/10/2012 - 21:23 | 3050483 buzzsaw99
buzzsaw99's picture

Maggot Wall Street types are the only ones worried about the fiscal cliff.

Mon, 12/10/2012 - 23:23 | 3050829 logically possible
logically possible's picture

Would maggot wall street types include those with a 401K?

Mon, 12/10/2012 - 22:28 | 3050636 Being Free
Being Free's picture

uhh, yeah .... hey who's that blond with the delicious ass?

Tue, 12/11/2012 - 01:59 | 3051180 docmac324
docmac324's picture

This is no different that Paulson commanding 700 million to bail out the banks.  If we did not bail them, we were all going to die.  Here we are once again....

Let it fly bitchez, and see how much it really effects the common man.

 

Bunch of BS to intimidate and scare the masses into doing/or acting out against their best interests.

 

Tue, 12/11/2012 - 06:05 | 3051345 JPMorgan
JPMorgan's picture

There are no choices here, either way the American people are going to get hit, automatic cuts and hikes are set to come in on Jan 2nd on no agreement.

So it's just a political pissing contest of which party will take the majority of the blame for the austerity to come.

Tue, 12/11/2012 - 09:15 | 3051514 orangegeek
orangegeek's picture

The media has fiscal cliff spun as an event.  It's a process.

 

Like 2007-2009, the market's demise took time.

 

And the QE-X tinkering has run its course - another 2007-2009 process should start soon.  SP500 weekly isn't looking so healthy.

 

http://bullandbearmash.com/chart/sp500-weekly-finishes-marginally/

 

This fall in markets will be far more devastating that 2007-2009.  The key is preparation.

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