Boehner Speaks Again

Tyler Durden's picture


Update: ES moves down a whopping 1 pt when Boehner says "we are broke."

Update 2: Boehner ends about 3 minutes in, nothing notable to report: the GOP is waiting for a proposal from the White House, which in turn is waiting for a proposal from the GOP. And so on.

If the past few days' silence from D.C.was supposed to indicate progress in Fiscal Cliff talks between the GOP and democrats, then will today's impromptu press conference by Boehner be spun as even more indicative of progress? This may be complicated when he admits, once more, there has been none to talk of. Luckily, Boehner has long since served his duty, with his November 16 conference when he and Pelosi single-handedly stopped the market from plunging to 2012 lows, and AAPL from getting a 4 handle. All his subsequent appearances have been quite superfluous. Watch him live below.

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Tue, 12/11/2012 - 13:05 | 3052207 smlbizman
smlbizman's picture

agent orange has spoken....

Tue, 12/11/2012 - 13:11 | 3052225 Stackers
Stackers's picture

I forsee another Christmas eve 11pm deal that saves us at the last minute ... again ..... in our future

Tue, 12/11/2012 - 13:16 | 3052241 Stoploss
Stoploss's picture

Im looking for a black ball cap left somewhere.

It can be identified by the logo:   WWIII on the front.

If found, place in any out going mail box, and it will be returned.


Unless USPS files Chap 11, then im fucked.

Thanks in advance.

Tue, 12/11/2012 - 13:39 | 3052317 economics9698
economics9698's picture

The clown show continues…

Tue, 12/11/2012 - 14:22 | 3052487 ParkAveFlasher
ParkAveFlasher's picture

Nothing so sorry as a Broke Boner.

Tue, 12/11/2012 - 14:21 | 3052489 redpill
redpill's picture

They have to really get folks whipped into a frenzy so they use the "well we had to do SOMETHING" line at Dec 31st at 11:59pm.


Tue, 12/11/2012 - 13:20 | 3052242 N. B. Forrest
N. B. Forrest's picture

Saves us or continues with the slow destruction of our nation?


Going over the cliff is better than Obama's socialist plans. 


If we go over the cliff maybe we can just finnally get this crisis over and start picking up the pieces.  This kicking the can down the road is not only intolerably frustrating, but the more we do it the worse it is going to be when the shit finally hits the fan.  Let the cleansing process begin and let the shit hit the fan and spray all over Obama's face.


Tue, 12/11/2012 - 13:27 | 3052271 Harbanger
Harbanger's picture

"better than"? Who told you there's an"either or".

Tue, 12/11/2012 - 13:40 | 3052322 TruthInSunshine
TruthInSunshine's picture

Let me state this clearly, yet again, as many here and elsewhere have as well:  This is all theater. The fiscal cliff is a non-issue. Both "different" parties will agree on something, if they haven't done so already, that manages to screw over the largest % of actually productive businesses and people in the U.S., soon.


Tue, 12/11/2012 - 13:51 | 3052362 Harbanger
Harbanger's picture

The fiscal cliff is theater, the national debt which will cause the real crash is not.  The MSM dictates the national conversation, it will do whatever it takes for people not to see the truth.

Tue, 12/11/2012 - 13:40 | 3052324 Seer
Seer's picture

Spoken like another true Party Pussy...

Yeah, if "WE can take back the country then everything will be better"...

Tell me what "pieces" are there to be picked up?  And, who is going to be in possession of said "pieces?"  I'm thinking that you're going to make sure that you're in on it, just like everyone else who thinks that their "governing" model is going to save everyone else...

Tue, 12/11/2012 - 15:18 | 3052663 N. B. Forrest
N. B. Forrest's picture

You must either be a ward of the state, or a European.  So you get your kick-the-can down the road band-aid, an even bigger debt and Obama socialism for a few more years as the crisis continues to deapen.  Then what?  Then we have even a worse crash. 

Pull your head out of your ass.  Things are getting serious here, and America is heading for a Greek purgatory if we continue down our current path. 

Tue, 12/11/2012 - 16:43 | 3052979 rich_wicks
rich_wicks's picture

Call me crazy, but I have been led to the conclusion that the following do not work:

  • Borrowing so much money that the national debt goes up at 9.4% a year, and has for 41 years
  • Having a tax revenue that is now less than 14% of the national debt.
  • Going to war at every opportunity and clearly and obviously lying about why we are in those wars
  • Trying to create a police state to oversee the citizens and have the citizens pay for said police state
  • Having a bunch of assholes who belong in one of two party labels but do pretty much the exact same damned thing once in power
  • Having said bunch of assholes point fingers at the other set of assholes screaming "it's their fault"
  • Having a monetary system so desperately corrupt that when a penny or nickel starts to have an intrinsic worth, the government just eliminates the coinage (they are phasing both those out - didn't you hear)
  • Having a media that is entirely full of shit and has stopped being the 4th Estate and is the propaganda wing for the 4th Reich
  • Pretending there is a solution to our impending fiscal insolvency of the nation
  • Pretending that, somehow, none of the above matters, because it's been going on for probably your entire life, just not at this level
  • Not prosecuting anybody in the financial sector like Jon Corzine, Franklin Raines, Angelo Mozilo, or Dick Fuld.

So it doesn't really matter at this freaking point what you or I think is a better governing system.  You have no control over it.  It doesn't matter one bit.  What matters is this country is going to go bankrupt really soon and there's a police state all setup in preparation for it.  That's the governing system we have now, and there's not anything you can do to stop it, not that you probably want to stop it anyhow, because you're an idiot.


Tue, 12/11/2012 - 14:20 | 3052484 eclectic syncretist
eclectic syncretist's picture

I predict we will go over the cliff, but not because of Oblathering idiot or Beavis Bonehead (worthless politicians).  It will be because the FedGov needs to preserve the illusion that Federal Reserve Notes have value. It's that simple.

"Should government refrain from regulation (taxation), the worthlessness of the money (credits) becomes apparent and the fraud can no longer be concealed." -- John Maynard Keynes, "Consequences of Peace."

Taxation is what the FEDGOV uses to perpetuate confidence in the value of their 'credit'. Banks charge interest on loans to give Federal Reserve Notes the perception of value.  Governments go to great lengths collecting far less than they spend - because it helps sustain an aura of value. The truth is that the government does not NEED to collect taxes to pay for services as it can simply print all the bank notes it needs. 

Going over the cliff will be seen as a way to help preserve the illusion at a time it is beginning to falter, even while the FedGov prints (dilutes) an extra $90,000,000,000 every month

Tue, 12/11/2012 - 14:24 | 3052499 TruthInSunshine
TruthInSunshine's picture

I wouldn't be surprised it they decide to cliff dive a few times, as you state, just in an attempt to promote that this "issue" is actually a real one, with anything other than a predetermined outcome.

Tue, 12/11/2012 - 14:37 | 3052546 Seer
Seer's picture

"The truth is that the government does not NEED to collect taxes to pay for services as it can simply print all the bank notes it needs. "

Well, the example of insanity is not lost, BUT... I think it all a matter of time/duration.  While the govt "could" do this, I am certain that it could not last very long.  The taxation stuff has only been an easy brake on the exponential function.  And just like risk, the thought that one can spread it out and therefore make it become "less," one cannot resolve an problem of indebted by issuing more debt*.

* The fact that there's really no intent of resolving indebtedness should tell you that: 1) It is NOT a function of the system to do this; 2) TPTB control through debt; 3) Both 1. and 2..

The drug that is money is wearing off.  TPTB have nothing else to hook us on.  Expect "force" to start replacing "drugs" as their means of control: and just like they cannot just freely print money, ramping up force will only speed up the eventual collapse.  Fate/reality won't be denied.

Tue, 12/11/2012 - 13:23 | 3052259 El Oregonian
El Oregonian's picture

Am I sensing another "Déjà Screw" moment, again from our Parasit... huh.. Politicians?

Tue, 12/11/2012 - 13:24 | 3052266 Jay Gould Esq.
Jay Gould Esq.'s picture

It will be interesting to observe the Republican Caucus in the House come January, and their selection of leadership positions: will Boehner and Cantor, et alii, be re-elected by the somewhat more conservative composition of said body ? A serious contest for the Speakership, Majority Leader, &c. -- although perhaps unsuccessful in the end -- will serve to display just how much influence Boehner and his circle have with/over the GOP House caucus.

Tue, 12/11/2012 - 13:44 | 3052338 Seer
Seer's picture

"will Boehner and Cantor, et alii, be re-elected by the somewhat more conservative composition of said body ?"

Dancing with Stars!

Kind of humorous to think that there are any REAL "conservatives" in national politics.

Tue, 12/11/2012 - 13:50 | 3052359 odatruf
odatruf's picture

Boehner has been down that road before. He was kicked out of leadership and built his way back one vote at a time.

He has more than enough lock solid support to win a vote among the GOP, but because the Speaker is elected by the whole House, even 17 votes lost from among his party would put his position in jeopardy.

The problem is, he represents a party that straddles too much space along the spectrum.



Tue, 12/11/2012 - 14:40 | 3052553 Seer
Seer's picture

Isn't he on Dancing with the Stars?

Who the fuck really cares other than political ideologists (folks who cannot recognize reality) and Party Pussies?

Tue, 12/11/2012 - 13:38 | 3052309 A Nanny Moose
A Nanny Moose's picture

Last Holidaze we got NDAA'd. This ought to be good.

Tue, 12/11/2012 - 15:19 | 3052670 AmCockerSpaniel
AmCockerSpaniel's picture

If the MSM wanted to get the truth out, they would have the Super PAC's send out a rep and tell us how this all will end, and when.

Tue, 12/11/2012 - 15:30 | 3052699 waterhorse
waterhorse's picture

maybe someone will take the plot and make it into a lifetime movie for next year's heartwarming Christmas programming:  "The Heroes of Washington D.C. Save Christmas," starring Agent Orange, bad facelift lady with pearls and the Turtle-looking turkey wattle guy.

Tue, 12/11/2012 - 13:13 | 3052231 kliguy38
kliguy38's picture

Bon'r was spotted early in his career by the PTB. His value as a middle amerika working class stiff was valuable......not to mention certain "proclivities" that afforded complete control fo the bufoon. His rise to power was swift and unimpeded..........perfect!

Tue, 12/11/2012 - 13:49 | 3052354 Seer
Seer's picture

I don't even think that it needs to be said (any more than with Obama).

It's a circus.  We already know that they don't practice by the medical credo of "first do no harm."  And from this point on it's ALL down hill.

We're pretty pathetic if we can't learn to acknowledge that POWER CORRUPTS.  We use "power" to hide behind the unsavory things: stealing and killing.  Governments and religion do a great job of hiding all this; unfortunately, this comes at a cost...

Tue, 12/11/2012 - 13:58 | 3052391 kliguy38
kliguy38's picture

The dye is cast....unlike many of us want to believe there will be a "very heavy" price to pay for what we have allowed to take place in the name of "freedom" unimaginable hell awaits us.

Tue, 12/11/2012 - 14:55 | 3052599 Seer
Seer's picture

Well, I'm an optimistic "doomer!" :-)  Those that might refer to me as a doomer would likely jump off a tall building if they knew what I knew.  The fact that I'm still standing flies in their faces.  Anyway...

One has to have the right perspective on things.  I tend to avoid putting too much in the "good" vs. "bad" thing because these are labels that are applied to highly variable and transient things.  And, well, my favorite word is "depends."

I don't see it as being bad that we'll cease doing that which cannot continue.  There's no choice.  One can either attempt to go down with the ship (lots of people in this position, almost always those who think I'm the "doomer"), OR, one can face the big unknowns (which, will likely cause LOTS of pain).

"Life is full of misery, loneliness, and suffering - and it's all over much too soon."  - Woody Allen

"More than any time in history mankind faces a crossroads. One path leads to despair and utter hopelessness, the other to total extinction. Let us pray that we have the wisdom to choose correctly." - Woody Allen

"I am a complex enough being that I can hold in my heart the understanding that we are really, really fucked, and at the same time that life is really, really good." - Derick Jensen

Tue, 12/11/2012 - 13:30 | 3052283 slaughterer
slaughterer's picture

See Organge Man = BUY

See Wrinkled Woman = BUY

There, I made it easy for everyone.  

Tue, 12/11/2012 - 13:45 | 3052339 Silver Bug
Silver Bug's picture

They will make a deal. It is QE to infinity. The money printing goes on!

Tue, 12/11/2012 - 15:25 | 3052687 waterhorse
waterhorse's picture

I thought at first you were talking about Angelo Mozilo.

Tue, 12/11/2012 - 13:06 | 3052213 resurger
resurger's picture

This time its green

Tue, 12/11/2012 - 13:07 | 3052214 Undecided
Undecided's picture

Glad I shorted, just follow the Good cop, Bad cop role and make alot of money.  Then buy Gold with the Profits.

Tue, 12/11/2012 - 13:18 | 3052247 Atlasshruggedme
Atlasshruggedme's picture

Golds looking good... 

Tue, 12/11/2012 - 13:08 | 3052219 mrktwtch2
mrktwtch2's picture

theres no crying in congress!!

Tue, 12/11/2012 - 13:44 | 3052337 Harbanger
Harbanger's picture

Unfortunately, no matter who started it, Butters always gets caught and blamed for everything.

Tue, 12/11/2012 - 13:12 | 3052229 Water Is Wet
Water Is Wet's picture

Remarks by Governor Ben S. Bernanke

Deflation: Making Sure "It" Doesn't Happen Here

But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost... We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

Tue, 12/11/2012 - 13:18 | 3052246 DavidC
DavidC's picture

By producing inflation, the Fed FORCES higher spending - higher spending doesn't mean spending on MORE things if it takes more money to buy the SAME things.


Tue, 12/11/2012 - 13:54 | 3052367 Seer
Seer's picture

Force doesn't work.

More spending isn't happening.  Can't push on a string.

And, the inflation is being injected into the financials' books to make them appear "legal" again.

Years ago I made the call: stagflation.  And we're lucky if that's all it is: but luck doesn't really have anything to do with it- physical reality says that it's "contraction" for as far as the eye can see.

Tue, 12/11/2012 - 14:23 | 3052496 madcows
madcows's picture

NO.  I can only spend what I have.  If food costs me an additional $1,000 this year, then that $1,000 must come out of some other area, such as retirement savings, or car purchases or political contributions.

Tue, 12/11/2012 - 15:24 | 3052685 Seer
Seer's picture


I think you missed what I was saying...  which was that raw money-printing wouldn't work, and that it wouldn't work much faster than the currently governed tax-based money-printing that has been the "norm."  It's the SAME path: one just would get us to the end of the line quicker.

" If food costs me an additional $1,000 this year, then that $1,000 must come out of some other area, such as retirement savings, or car purchases or political contributions."

You have an extra $1,000?  Retirement savings?  Car purchases?  Political contributions?

Sorry, you sound just like one of Them (the "entitled").  Reality WILL dictate that you have no "extra" in the future- nature doesn't do "extra."  The clue should be seen from the 4+ billion humans who live on $3/day or less.

Tue, 12/11/2012 - 13:29 | 3052270 Landotfree
Landotfree's picture

The Fed doing it's job.   The Fed has no ability to exponentially grow supply/demand long-term, that would take unlimited power.   There are no helicopters coming in to save anyone by dropping dollars.  

"a determined government can always generate higher spending and hence positive inflation"

Of course completely false, that is the lie they want you to believe.   The same tinfoil hat people that claim you shouldn't believe the Fed, always believe the one lie the Fed does tell.  If the Fed had this ability houses would be trading north of the 2007 level.  

Tue, 12/11/2012 - 13:56 | 3052377 Seer
Seer's picture

You give me a sense that there's still hope for humanity...

Tue, 12/11/2012 - 13:15 | 3052235 semperfi
semperfi's picture

They've all had years to find a solution.  So I'm confident they'll find one in the next 20 days. :P

Tue, 12/11/2012 - 13:30 | 3052284 Landotfree
Landotfree's picture

There is no solution as the system is working right on schedule.  

Tue, 12/11/2012 - 13:20 | 3052250 Kaiser Sousa
Kaiser Sousa's picture

Dow rises 110+ on talk that once again an agreement is eminent due to the "silence of the scams"....then "Boner" seps out and says the same shit he's been saying since the election and "presto, chango......" Dow still up 100+....

and the phony paper price of Gold and Silver stay down and trade sideways....

uh, huh....right

Tue, 12/11/2012 - 13:23 | 3052258 DavidC
DavidC's picture

An agreement would be eminent whether or not it's imminent...


Tue, 12/11/2012 - 13:32 | 3052288 Kaiser Sousa
Kaiser Sousa's picture

spelling was never my strong suit...

conveyance of ideas i always consdered to be much more "impotent"...

thanks anyway......

Tue, 12/11/2012 - 13:23 | 3052261 becky quick and...
becky quick and her beautiful mouth's picture

so let me get this straight. we only have 3 options:


1) massively raise taxes, that will solve everything

2) massively cut spending, that will solve everything

3) do both, that will solve everything


no other options, just those 3 things. there's nothing else that could be done.

Tue, 12/11/2012 - 13:30 | 3052282 john39
john39's picture

4.  jail and/or hang the criminal central bankers that engineered the destruction of the world economy, and their political lackeys...  use all criminal wealth they have amassed (estimates of over $50 trillion, but who knows) to rebuild world infrastructure for productive purposes.... energy, agriculture etc.  

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