• Sprott Money
    05/05/2016 - 06:02
    Why is a Deutsche Bank mouthpiece suggesting “negative retail deposit rates or perhaps wealth taxes”? The answer is to (supposedly) stimulate our economies.


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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Sat, 12/29/2012 - 01:42 | 3104224 The Heart
The Heart's picture

Still, this is well embellished into the Stonework of ZH.

Give thanks for the the truth that is the beginning of freedom from the beast the world is fast getting tired of tolerating. With the talks of war crimes tribunals for isrealli leaders being discussed at the Hague now, we can be sure some hateful racist apartheid nation with dangerous USA taxpayer bought weapons of mass destruction working the the rottenchild empire of the dusted god money will have pretty good motivations to do the dirty barons works for that Utopia all are promised sometime soon. Funny how that works...deceptions...war...and all the hooey-balooey from the lamest stream yellow journalism propaganda dis/mis-information machine.


Sat, 12/29/2012 - 07:17 | 3104353 Jacks Cold Sweat
Jacks Cold Sweat's picture

i loved that spiderman paradgim shift

Fri, 12/28/2012 - 17:56 | 3103145 PTDBDucks
PTDBDucks's picture

It doesn't really matter does it? Just change the f'n accounting and reverse the entries on the ledger. Spending becomes a plus and tax cuts will send your surplus into orbit. Let Bernanke print until the final collapse, the numbers mean nothing anymore.

Hey Big 0... surf's up!

Party on dude.

Fri, 12/28/2012 - 17:59 | 3103157 Joebloinvestor
Joebloinvestor's picture

The real sticker shock is when that $250k level is agreed to and then people figure out that it was for JOINTLY filed returns.

Guess what if you and your spouse make $126k @?


Fri, 12/28/2012 - 19:56 | 3103623 blunderdog
blunderdog's picture

     Guess what if you and your spouse make $126k @?

I have a guess.

You're each in the top 5% of income earners and can probably afford to pay a LOT more for food and oil.  If you want to pay less in taxes, it's a lot easier to become poor than it is to become rich.  You don't even have to work or nothin'.

Fri, 12/28/2012 - 17:59 | 3103160 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Der Put ist Gut

Fri, 12/28/2012 - 17:59 | 3103163 shitting_alpha
shitting_alpha's picture

whoever posted this is an idiot.


typical crap statistical "analysis."  notice the huge positive COT at the end of 2008, not to mention the fact that he used 2 data "points" in history and conveniently ignored a third.




the location of the positive COT is very obviously not the reason why this market will go down when it goes down;  sort of like how giraffes didn't grow their necks longer because the leaves were up high.


you guys are hilarious.

Fri, 12/28/2012 - 18:04 | 3103176 Kastorsky
Kastorsky's picture


Fri, 12/28/2012 - 18:05 | 3103183 disabledvet
disabledvet's picture

Ah "political pundits." and to think back oh those many...was it just weeks ago?...while Zerohedge became suddenly doormat...I mean dormant..."the bezerker" (yours truly) screamed to rafters "FISCAL CLIFF!" in the echo chamber. And without fail "the market traded on this (so called) news" while disabledvet did what he does past...musing on his own irrationality. I'm sure many a 'merican got their call..."a black man has been reelected! A black man has been reelected!" and leaving aside me being the last person in the world to talk race in 'merica I must say I found MYSELF feeling odd for a change. While I find the addition of Marc Chandler to the site quite the high powered addition (and it is...copyright ABC media 2009-2012 rights reserved--what exactly are those rights reserved for again?) I still find this site must read because of its MsCreants and assorted others. I agree the market got whacked today...but to devolve your own imbecility down to "those other political pundits" as opposed to your own (albeit correct thanks to me) view of "fiscal cliff as negative" is truly rich indeed. How long must disabledvet toil before allowed into the Pantheon of Pontificators? How long I ask????? I have gone out of my way to be hateful, despicable, irriscable and "just plum crazy." I want answers! I want THE TRUTH!

Fri, 12/28/2012 - 18:06 | 3103185 ZeroFreedom
ZeroFreedom's picture

Buying SDS and TWM on Monday after they kiss and make up but do nothing on Sunday.

Fri, 12/28/2012 - 18:07 | 3103194 Frastric
Frastric's picture

2013 is going to be the 2001 and 2008 years of hell for stock markets. First came the corporate/dot com bubble, then came the subprime/banking bubble, and now 2013 comes the bond market bubble. Each burst was progressively more violent and each burst bubble effected ever larger parts of the ponzi financial scheme.

Fri, 12/28/2012 - 20:07 | 3103671 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"...2013 comes the bond market bubble."

I take it "13" is not your lucky number?

Fri, 12/28/2012 - 18:08 | 3103200 H E D G E H O G
H E D G E H O G's picture

anyway, let the fucker burn down. my quote of the day, "guns don't kill, but subway trains do."

Fri, 12/28/2012 - 18:32 | 3103291 TrustWho
TrustWho's picture

My Quote: "Ban the Subway Trains to Protect Commuters"  

Fri, 12/28/2012 - 19:58 | 3103636 blunderdog
blunderdog's picture

Don't be fuckin' with the trains.  They're a very cheap way for us NYCers to kill ourselves--it's too fuckin' hard to buy a legal gun to blow our brains out with, and they put these big FENCES up around all the bridges!

Fri, 12/28/2012 - 21:08 | 3103816 I am on to you
I am on to you's picture

No guns dont kill:

Its the idiot behind it!

Fri, 12/28/2012 - 18:09 | 3103201 Zer0head
Zer0head's picture

Obama live at 5:45pn  meanwhile his posse on the phones to Corporate 'leaders'

Fri, 12/28/2012 - 18:17 | 3103234 lynnybee
lynnybee's picture

is this really it ?   is this "the bloodbath" i've been waiting for ?    i can't wait.   i want to see this (thank god i've nothing in the market) .    my brother-in-law makes fun of me, makes fun of my reading ZEROHEDGE, telling me to "get off that internet" !  

Fri, 12/28/2012 - 18:51 | 3103367 SKY85hawk
SKY85hawk's picture

Take a look at ERY (short energy)  and FAZ (short financials).

No margin and brother-in-law will be eating CROW!

Fri, 12/28/2012 - 18:18 | 3103235 Frastric
Frastric's picture




Fri, 12/28/2012 - 18:19 | 3103239 pashley1411
pashley1411's picture

So, they pull back the curtains on Panem and discover behind the smoke and noise there is no intellgent life.   Wow, surprise. 

Fri, 12/28/2012 - 18:19 | 3103242 ramacers
ramacers's picture

reality (knuckle-draggin') beckons.

Fri, 12/28/2012 - 18:22 | 3103256 Imminent Collapse
Imminent Collapse's picture

Cue ball's made of styrofoam
And no one's got the time

Fri, 12/28/2012 - 18:25 | 3103268 ugmug
ugmug's picture

Face the facts, politicians like to show charts that go up and down to all the escorts that they caucus with after a hard days snooze. It makes their members more erect and responsive to constituent demands.

Fri, 12/28/2012 - 18:39 | 3103298 q99x2
q99x2's picture

Dow futures down 226 S&P down 26.

Not bad. But not enough for the banksters to blackmail another cool trill yet.

Won't be hearing from Bankfeind until he gets his holiday profits offshore. He cleaned them out good this year. Like the grand finale.

Fri, 12/28/2012 - 18:37 | 3103304 StoleYourMoney
StoleYourMoney's picture

Cash is KING.

Fri, 12/28/2012 - 18:37 | 3103306 max2205
max2205's picture

The payroll tax is a big problem alone. No beer money for the 50% ers

Expect riots on obamerramas watch

Fri, 12/28/2012 - 18:39 | 3103313 Spastica Rex
Spastica Rex's picture

The Empire stands until the mercenaries can no longer be paid.

Until then, maybe some new episodes, but same old soap opera.

The future sucks because it's BORING.

Fri, 12/28/2012 - 21:00 | 3103803 arby63
arby63's picture

ironic. i sort of just said the same thing above. bravo!

Sat, 12/29/2012 - 09:51 | 3104428 falak pema
falak pema's picture

boring holes into the Titanic's hulk! Yikes! 

Fri, 12/28/2012 - 18:40 | 3103322 ZFiNX
ZFiNX's picture

When the market doesn't already know in advance what the decision is I begin to suspect its consequences extend far beyond the performance of a domestic stock market. If we see this passed, we will have given ourselves free reign to enlarge our military and welfare for the next ten years, that means high food prices for non-agricultural countries and cheap oil exports due to United States military pressure on those countries. This is probably the last straw for the Middle East, their people have shown they are suffering enough.

Fri, 12/28/2012 - 19:02 | 3103409 I am Jobe
I am Jobe's picture

Until some fuckers get hung nothing will happen. Amerika is fucked

Fri, 12/28/2012 - 20:59 | 3103799 arby63
arby63's picture

boy, ain't that the truth. i wish it would start somehow......fantasies for now. nothing much will be "doable" on the flogging front until "we" figure out a way to starve the beast....the ones that protect the pigs who enslave us.

Fri, 12/28/2012 - 19:10 | 3103438 PersonalRespons...
PersonalResponsibility's picture

This is so staged, Kevin Henry obviously could have prevented this.  He must have been told to start the holidays early.

Fri, 12/28/2012 - 19:09 | 3103439 DarthVaderMentor
DarthVaderMentor's picture

Come on....12.9K on the DOW and 1402 on the S&P? That's just market theater playing up to the political theater in DC right now.

Wake me up then the S&P breaks under 1000. Anything less than that is just HFT and algo games.


Fri, 12/28/2012 - 19:15 | 3103459 Yes_Questions
Yes_Questions's picture



OT: is it just me or are the fembots on CNBS set to extra Bitchy lately?

Or is it the lunar cycle?

Fri, 12/28/2012 - 19:20 | 3103475 FinalCollapse
FinalCollapse's picture

From the Fawlty Towers: "Have you hung the picture yet Basil?"


Fri, 12/28/2012 - 19:21 | 3103481 Tom Green Swedish
Tom Green Swedish's picture

Ok I am going to attempt to look for an answer to this question.  How can the stock market exceed or not exceed GDP growth of an economy in a given time.  I will use China and the USA as examples.


Market Gains 10 years - 2000 - 2010

S&P Market Gain USA 10 Years - -26.24 Percent (60.33 for 2002 - 2012) Basically Flat for 2000 - 2012

Shanghai SSE Composite 10 Years - 131.48 Percent




GDP Growth 10 years

2000 - 2010

USA - 48 Percent

China - 113.3 (What is growth based on US Dollars)


Our economy grew 48 percent from 2000 -2010 yet the stock market lost 26 percent. Go from 2002 to 2012 and it gained 60 percent more close to the growth but higher than overall growth, but the economy only grew 1.7 percent last year.  Ok what gives? Why is the market so damn choppy when we are putting up good numbers? 


Furthermore why did the stock market gain 213 percent from 1990 to 2000 when growth was only 100 percent?  Is this some kind of parlor trick?

Sat, 12/29/2012 - 10:25 | 3104443 Absinthe Minded
Absinthe Minded's picture

It's make believe capitalization of the chosen corporations by Bernanke bucks. It's amazing what inflation can accomplish.

Fri, 12/28/2012 - 19:22 | 3103483 Global Hunter
Global Hunter's picture

no matter how high the market continued to go higher, I couldn't help but think that longs were picking up nickels in front of a bulldozer. This post in no way changes that feeling.

Fri, 12/28/2012 - 19:31 | 3103526 mendigo
mendigo's picture

dump it at a loss now
pick it up cheap on Jan 2

Fri, 12/28/2012 - 19:31 | 3103529 halfmetaljacket
halfmetaljacket's picture

Obama still optimistic a fiscal-cliff deal can be made

we are buying senseless in our charitable trust.......my sources said ES will open above 1420 on monday



Fri, 12/28/2012 - 19:34 | 3103539 Bob Sacamano
Bob Sacamano's picture

The MSM and this site is pre-occupied with the "cliff" crap - which is not an issue of consequence in the scheme of things.  Very sad.  The market will have a relatively modest reaction (less than 10%) no matter what happens.  Non-event.

Fri, 12/28/2012 - 19:35 | 3103548 sbenard
sbenard's picture

I DEMAND my Santa Claus rally! Where is my Santa Claus rally?

Uh, you mean we CAN'T print our way out of this mess after all?

Sat, 12/29/2012 - 09:50 | 3104427 Waterfallsparkles
Waterfallsparkles's picture

I think that many were counting on the Santa Clause rally.  Or at least the run it up at the end of the year to show profits and get bonuses.

But, sadly as we all know, Wall Street does the opposite of what everyone thinks.  That is how they catch you in a bad position.  Where you have to Sell to avoid losing more Money.  Then once you Sell at a loss they reverse it dramatically.  Leaving you in the dust, not even being able to Buy back in where you sold.

Fri, 12/28/2012 - 19:37 | 3103562 The Duke of New...
The Duke of New York A No.1's picture

Long NY Fed Tungsten.

Fri, 12/28/2012 - 19:40 | 3103568 Tommy Gunner
Tommy Gunner's picture

The policians are playing a game... they are forcing down the markets pretending there will be no deal... meanwhile they are buying the markets in anticipation of a big leap upwards when a deal is reached.

All because it is not illegal for an elected rep to front run.  

What a fucked up country america is - bribery is completely legal (if run through a lobbyist) - and politicians can engage in insider trading.


Fri, 12/28/2012 - 19:49 | 3103594 orangegeek
orangegeek's picture

Dow Jones daily looks very bearish.




The Dow March contract is 150 points below today's close.


January is going to be ugly.

Fri, 12/28/2012 - 20:00 | 3103646 michigan independant
michigan independant's picture

Wake me up at 500

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