Bloodbath

Tyler Durden's picture

Finally, the market realizes that it was the patsy all along. This is what a real cliff looks like:

Of course, none of this news to any of our readers. From November 13:

Once again, it will be up to the market, just like last August, just like October of 2008, to implode and to shock Congress into awakening and coming up with a compromise of sorts.

But please listen to all those "expert" political journalists, reporters and pundits, who said all is well and not to worry about anything. After all they had pretty slideshows and lots of clickbait to make you believe they know stuff

The good news: ES can only drop 5%, or limit down, on Sunday night when the market gets more of the same.

The better news: SPY is open late tonight, long after ES closes.

 

And it is different this time (from the debt ceiling debate of last year) as investorsd have been herded into risk assets en masse by an over-zealous Fed head...

 

Where it likely is not at all be different, is how much further the market will have to plunge to "extract" a deal from Congress... roughly another 15-20% lower. Which with a near record margin debt on the NYSE will become quite a sight to see.

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WonderDawg's picture

Congress doesn't decide the direction, but they do get advance notice.

MsCreant's picture

I stand corrected. Agree. I do think they can know what their own interests are and decide to do nothing.

max2205's picture

Dont be stupid.  Congress can still legally frontrun the news flow.  

Plus Ben will tell them when to go all in.  

 

 


DaveyJones's picture

but that would be breaking the law. They take oaths you know... and have plaques

Miffed Microbiologist's picture

Crap daveyjones, I read plagues instead plaques. For a second I was in a blissful euphoria. Reality bites once again. Oh... Here comes my Vicodin, I can be a sheeple again for a couple of days.

Miffed:-)

scatterbrains's picture

I would think these greedy basdids would demand more volatility than just a little whoops move at the close before commencing a Sunday night rally. I'd like to think these fuckers want to see at least a 25 to 30% move first before covering their insider tipped positions.  Plus gold would have been up today if that was the game plan... I would think anyway.

sessinpo's picture

Wow.

The Tea Party Caucus has about 14% of Congress, which means little influence. And some of those people that support the Tea Party have been removed from various  committee assignments.

People that believe that the Tea Party is the problem or has that much influence are like the the lunatics that believe that the few millions of Jews control the Billions around the world. Down arrow for you and LiesInDarkness.

And I will happily take the down arrows and stand in the minority. So far out of all the positions I have stated, I have been right the majority of the time, and happily profited from. I'll happily take an opposing position as I take money from YOUR wallet.

MsCreant's picture

I do not understand your comment. Who said a thing about The Tea Party? 

Element's picture

Think it's possibly a rogue troll-bot that de-localised from 2009

GetZeeGold's picture

 

 

Norad has just confirmed it....yes it was a troll.

valley chick's picture

already Pelosi coming out with a statement that they are moving FORWARD.  Don't have to wait till Sunday...TIS.

tenpanhandle's picture

FOURWORDS  - let them eat cake.

GetZeeGold's picture

 

 

Four more - let them pound sand.

Nobody For President's picture

I also read that Nancy Pelosi had trouble finding her car after the meeting. Really.

If she really thinks things are moving forward, she may not be able to find her ass - with either hand.

MSM theater of the absurd - no - bizzare - no ahhhh

words fail me.

Monday is going down. There is NO way they can make any deal except maybe just extend everything 30 days. Game theory for both sides sez they won't do it - time to hold hands and jump off the fiscal curb together.

But the fucking after market today on TZA was somethun', wern't it Mabel?

Harbanger's picture

"I also read that Nancy Pelosi had trouble finding her car after the meeting. Really."

Pelosi doesn't look for her car.  What makes you think she even drives her car.

GetZeeGold's picture

 

 

I hope she doesn't drive a car. That much botox and driving doesn't mix well.

Town Crier's picture

Heroes: Pelosi and crew marching up the stairwell of the Twin Towers.

Town Crier's picture

But wait, the Twin Towers heroes didn't set the fire.

mkkby's picture

Thank goodness for Pelosi, Boner, Reid and Obama.  They really have our best interests at heart and can be counted on to do the right thing.

Chupacabra-322's picture

@ TruthInSunshine,

Absolutely!  This is all deception and illusion/political therater.  A deal has already been cut by the Criminal Minions by their real Global Elite Bankster Masters. 

I'll go one better and say the bankruptcy and THE UNITED STATES restructureing has also already been done.  Welcome to the NWO of Global Aurthoritarian Police State Fascist Rule.  Run by the Global Criminal Crime Syndicate Banksters.

Christophe2's picture

Rather, what we see now is the theater play that is meant to make that pre-established 'deal'/decision somehow passable.

 

The debt itself is a joke (our own money was printed/debased to 'lend' to our own governments, and others), but nonetheless because 'the stock markets'/financial system will go down unless a 'deal' is made to extend and pretend, all of society will need to sacrifice even more blood money to pay off these insane parasites...

 

The 'deal' will be ever so reasonable: the poor, the middle AND the upper classes will all share some of the pain.  Isn't that wonderful?  And at the same time, the news stations feel like they have lots to say.

HardAssets's picture

There's 'upper class' and then there's "Upper Class"

Unless youre a connected billionaire with all your money off-shore, you ain't in the big club.

You get to make your interest/tribute payments to those guys. . . and everyone else gets to duke it out for the scraps in class warfare (with a little tinge of race war maybe thrown it too). Divide and conquer has a successful track record going back many centuries.

Sigh.

Chupacabra-322's picture

@ Christophe2,

"all of society will need to sacrifice even more blood money to pay off these insane parasites..."

Do not forget, if the Host is killed the parasites die. 

TPTB_r_TBTF's picture

do not forget,

if this host dies,

the parasites move on to the next host...

mkkby's picture

Thanks for the heads up, Chupac...  I registered the domain "Global Criminal Crime Syndicate Banksters".  Eat that, banksters.

Harbanger's picture

Truthinsunshine, Why do you say Obamney & Boehner, not Obama & Boehner?  They're all the same?  The election is over, Obama owns the economy and our future.  The MSM is already protecting the Pres. from any blame, we deserve what we have coming. 

SheHunter's picture

Word.  At which time we'll see the same insane retrace as yesterday when the MSM jubilantly reported a Sunday meeting.

El Oregonian's picture

CLIFF-ISMS:

Cliff Clavin (of "Cheers" fame):

1) "It's a little known fact that the smartest animal is a politician. Scientists say if politicians had thumbs and a language, they could be trained to do simple manual labor. They give you 20-30 years of loyal service and then at their retirement dinner you can eat them."

2) "They did a study between politicians and chimpanzees. They proved chimps were 32% slower. Of course, they were better with public relations."

upWising's picture


AT THIS POINT, all we can do is take some advice from the great comic, Lily Tomlin:

––“Things are going to get a lot worse before they get worse.”

––“Reality is the leading cause of stress amongst those in touch with it”

––“No matter how cynical you become, it's never enough to keep up”

––“We have reason to believe that man first walked upright to free his hands for masturbation.”


ball-and-chain's picture

People just don't get it.

There is no cliff.

Wall Street runs Washington.

The tail is wagging the dog.

If Goldman Sachs says compromise, then there will be a compromise.

The money-men rule.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-was-freezing.html

unplugged's picture

A last minute kick-the-can deal will be reached at last minute - money in the bank.  That's all they know how to do.

achmachat's picture

but this is a good thing.. isn't it?

spanish inquisition's picture

Yes, remain calm.

What happend is a controlled demonstration of the Feds power of what may happen should you not come to a desicion that gives the treasury and Fed what they want. Should the Fed actully lose control, the market would lose 15-20%, completely collapsing the financial (political contribution)system. This is only a test.....

IridiumRebel's picture

if this was a real market I would care. I could care less by a bunch of algo-bots fucking each other. 

ghengis86's picture

You could care less? I couldn't. Fuck this shit. I've been out of this 'market' for two years now (thanks to ZH). I'm only into real markets that trade real, tangible assets. Rental real estate, PMs, land, lead and boats (I'm not a good sailor; I always seem to sink my vessels laden with PMs.). Pretty soon I'll be writing Casey-esque articles about which of my ten villas in South America is best post-SHTF!

Bitchezz!

IridiumRebel's picture

I got what used to be 3K still in as fuck money that I do not even count. Everything else is PMs, cash and RE. I'm with you. 

tango's picture

But if you had an opportunity to make money would you take it? I learned long ago that ideology is not a good method for investing. Yes, we will collapse...but t will not be tomorrow or next week or next year. Notice that Tyler seems to follow (is always quoting) folks like JP Morgan, Goldman and the financial gurus.

There are cycles for ever asset class and with the absurd FED policies the market is still a good temporary investment.

ghengis86's picture

Agree with everything up until the last eight words. Actually, just one word - 'investing' - is the only thing wrong IMHO. Yes, you can stil make money in the market if you can trade well. But that's not investing. I don't have the time to day trade in and out of positions. I'm not nearly smart enough either. I'm one of those sheep, retail investors that thought, up until a couple years ago, that putting money into the market was investing. It's not and I realized that. So with my limited 'investing' skill set, I put my money where:
a) it will never go to zero
b) it is not backed by paper
c) it is real and tangible
d) it will preserve wealth and provide cash flow (PM and RE)
e) it gives the bankers a big, fat, FUCK YOU! as my money will not be their plaything, rehypothecated, Corzined or otherwise

So, yes; seize your opportunity to make some more fiat when you can. Props to you and I wish you the best. Me - I'm okay playing this out passively as shit begins to like up on the fan.

To each his own.

Godisanhftbot's picture

 The Fecal cliff is a product of a dog catcher in the WH and a Boner on the other side of the fence.

GrinandBearit's picture

Beaks!.... where the hell is Beaks???

Buckaroo Banzai's picture

"Turn those machines back on!!!"

GrinandBearit's picture

Mortimer, your brother's not feeling well, we should call a doctor...

FUCK HIM!

pinkyringcapital's picture

What are THEY doing here?? ...they're SELLING...

buzzsaw99's picture

in that case gold was one half a patsy

cash and bonds, not so much

ApollyonDestroy's picture

See you at the party Richter!