Obama: "My Offer Is Nothing" - Stocks Plunge

Tyler Durden's picture




 

 

Looks like today everyone in Congress was short. Here's why:

  • OBAMA SAID NOT TO MAKE NEW OFFER IN FISCAL CLIFF TALKS
  • OBAMA OFFER DETAILED BY SOURCE FAMILIAR WITH WHITE HOUSE MTG
  • OBAMA SAID REITERATING PROPOSAL FROM LAST WEEK ON FISCAL CLIFF
  • OBAMA PLAN INCLUDES RAISING TAXES ON EARNERS OF $250,000 AND UP, EXT OF UNEMPLOYMENT INSURANCE, ADDRESSES OTHER OUTSTANDING ISSUES-SOURCE

So much for a deal, and so much for the invisible DJIA support at 13,000.

 

 

and AAPL from its Wednesday's VWAP to yesterday's VWAP... still trading? still think the professionals aren't dumping technically into every rip?

Or, as Al Pacino would summarize it...

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Fri, 12/28/2012 - 17:22 | 3102990 israhole
israhole's picture

I don't have any skin in the game so couldn't care less one way or the other, but we have to be getting close to a bottom with comments like the above.

Fri, 12/28/2012 - 17:30 | 3103029 SheepDog-One
SheepDog-One's picture

Oh man...you doin ok dude?

Fri, 12/28/2012 - 16:51 | 3102839 ShrNfr
ShrNfr's picture

Shit what took the algos so long. This has been known since 2:36.

Fri, 12/28/2012 - 17:52 | 3103128 NotApplicable
NotApplicable's picture

Algo double head-fake?

Fri, 12/28/2012 - 16:54 | 3102855 bugs_
bugs_'s picture

the one wants an up or down vote on his plan - knowing it won't pass - so that he has a get out of jail free card when its time for the blamestorm.

you couldn't get a clearer sign that we ARE going over the fiscal cliff.  adjust your budgets accordingly - those of you that are forced to have them.

Fri, 12/28/2012 - 16:56 | 3102859 Banksters
Banksters's picture

Most Americans went to sleep and these traitorous cons sold them war, globalism, and endless debt.   They did nothing and now the country is circling the toilet bowl.  

 

FUCK THE FED

FUCK THE PRES

FUCK CONGRESS

FUCK THE SUPREME COURT

FUCK THE MSM 

 

 

Fri, 12/28/2012 - 16:55 | 3102860 SuperDeDuper
SuperDeDuper's picture

I love it when Zero Hedge is right. Check Mate, world.  LOL

Fri, 12/28/2012 - 16:55 | 3102861 Triple A
Triple A's picture

 the deal is coming so hold onto your panties gentleman. Our great leaders won't let us down. Sarc/

Fri, 12/28/2012 - 17:20 | 3102979 tbd108
tbd108's picture

Boehner is just waiting until he wins his job back. He will then bend over and drop his pants.

Fri, 12/28/2012 - 16:55 | 3102862 pods
pods's picture

Offer?  Well since our government is basically a gang anyways I figure this is a fitting scenario.

I say fuck it.  If we stop the charade we will see how we have been monetizing 10%ish of GDP in perpetuity.  

Instead we have this fucking theater while we scare the serfs until they are happy that Ben will monetize more of their kids weath away.

Fuck it, beam my up Scotty, there is no intelligent life down here.

pods

Fri, 12/28/2012 - 17:00 | 3102891 SheepDog-One
SheepDog-One's picture

I'll offer you for sacrifice...say... 5 million pensioners....we have a deal Mr Corleone?

Hmmmm...from what I remember from my civics classes clowngress passed the laws, and the executive branch signed them or not...WTF is this shit with the president telling clowngress what to do and what HE will 'offer them'?

Shows just how broken it all is.

Fri, 12/28/2012 - 16:56 | 3102864 Moe Howard
Moe Howard's picture

Fuck Obamao.

Fri, 12/28/2012 - 16:56 | 3102868 madcows
madcows's picture

I move for a vote of no confidence for the entire government.

Fri, 12/28/2012 - 17:06 | 3102913 pods
pods's picture

If that was on the ballot and it actually purged those lying, cocksucking thieves, I would have voted.

pods

Fri, 12/28/2012 - 16:56 | 3102869 Joebloinvestor
Joebloinvestor's picture

HAHAHAHAHA

What fucking theater.

Drop a Hawaiian vacation to race back to Washington and DO NOTHING.

Blame the Republicans for everything.

I just don't give a fuck anymore.

Fri, 12/28/2012 - 16:57 | 3102870 BrigstockBoy
BrigstockBoy's picture

Now if only someone would take Fredo out fishing...

Fri, 12/28/2012 - 16:57 | 3102873 Tsar Pointless
Tsar Pointless's picture

In my best JoAnn Worley voice - booooor-riiiiing!

Fri, 12/28/2012 - 16:57 | 3102877 Dr. Engali
Dr. Engali's picture

Obama is screwing up all of Ben's hard work. One can only hope that he has been able to prop up this shit long enough for them to get all of their preps in place.

Fri, 12/28/2012 - 16:58 | 3102881 SmoothCoolSmoke
SmoothCoolSmoke's picture

The market is a joke.....worst possible news and the SP cannot even break 1400.

Fri, 12/28/2012 - 16:58 | 3102882 you enjoy myself
you enjoy myself's picture

what is Obama's bizarre fetish with $250K?  its going to raise maybe $50B a year.  and he's actually asking for increased spending.  he's using taxation as punishment, alone.

Fri, 12/28/2012 - 17:54 | 3103135 blunderdog
blunderdog's picture

That was the cutoff used in the bill that had already passed in the Senate, that's all.

Fri, 12/28/2012 - 16:58 | 3102883 ekm
ekm's picture

People

 

There's nothing to sell. To sell means to own something and sell. 

Primary Dealers + few other very very very big guys own everything.

Selling can't and won't happen. Only cratering can and will happen by the collapse of one or two primary dealers, thus flushing the market with stocks to trade with.

 

Check Hunsader:

http://twitter.com/nanexllc/status/284690976553984000

 

Fri, 12/28/2012 - 17:07 | 3102919 SheepDog-One
SheepDog-One's picture

Its basically all been monetized at this point.

Fri, 12/28/2012 - 17:12 | 3102942 ekm
ekm's picture

Correct.

The better way to put it:

Stock market is already owned by the government.

 

That's why NYSE bankrupted and had to be bought out to save face. I started calling NYSE bankruptsy 1 year ago since MFG collapse followed by the global bailout of stocks, Nov 2011.

Check this:

http://online.wsj.com/article/SB1000142412788732466910457820687051816480...


Fri, 12/28/2012 - 17:00 | 3102890 Martin T
Martin T's picture

Tony Montana: You wanna waste my time? Okay. I call my lawyer. He's the best lawyer in Miami. He's such a good lawyer, that by tomorrow morning, you gonna be working in Alaska. So dress warm

Fri, 12/28/2012 - 17:01 | 3102897 TWSceptic
TWSceptic's picture

Blame the other party and hope for the best, yes we can!

Fri, 12/28/2012 - 17:01 | 3102898 Bay of Pigs
Bay of Pigs's picture

If only Obama had the leadership skills and moral integrity of Michael Corleone things might better for the country.

Fri, 12/28/2012 - 17:01 | 3102899 Chupacabra-322
Chupacabra-322's picture

"When people loose everything and have nothing left to loose, they loose it."

-Gerald Celente.

Time is running out for the Criminals to disarm The American People before the whole Ponzi Scheme blows up in their face.  When that occurs there will be no place for these Criminals to run and hide. 

Fri, 12/28/2012 - 18:08 | 3103199 NoTTD
NoTTD's picture

Check your spelling.

Fri, 12/28/2012 - 18:43 | 3103333 Chupacabra-322
Chupacabra-322's picture

How's this?  Go Fuck Yourself. 

Fri, 12/28/2012 - 17:02 | 3102900 SmoothCoolSmoke
SmoothCoolSmoke's picture

Run Romney/Ryan and then bitch when Obama ends up calling the shots?  Hey T-Pubs want to know why things are not going your way?  Find a mirror.  Too Funny.

Fri, 12/28/2012 - 17:03 | 3102903 Agent P
Agent P's picture

We still get to go to the donkey show with Fredo, right?

Fri, 12/28/2012 - 17:07 | 3102912 LouisDega
LouisDega's picture

Leave Fredo out of this. He's Smart

http://www.youtube.com/watch?v=vYabrQrXt4A

Fri, 12/28/2012 - 18:07 | 3103195 NoTTD
NoTTD's picture

Fredo?  Fredo was weak and stupid.

Fri, 12/28/2012 - 17:06 | 3102914 SheepDog-One
SheepDog-One's picture

OK so I guess THIS is the 'fear and panic plunge' so that the serfs will now be frightened and beg D.C. to take away their great great great grandchildrens lives as long as their pension is saved? And all with markets still around 8% from all time record highs....man what a clownshow.

Fri, 12/28/2012 - 17:08 | 3102917 kevinearick
kevinearick's picture

Open Source, Income Deferral, & Black/White Swans

So, as we have sped up the system by employing the implicit internet, pushed out on the integral side, capital has imploded, into a shrinking two-dimensional box of vertically and horizontally challenged cats, incapable of maintaining the breeder reaction, resulting in a derivative short in its probability matrix, exploding income inequality, as measured by the Fed, leaving Wall Street’s HFTs in the dust.

Assuming you have read something like Kissel, circa 86, you set up the algebraic equation with a ladder diagram on one side and a wiring diagram on the other, each with its own algebraic equation, leaving simple reduction with the matching algo to make capital transparent to any position you want, effectively eliminating its ability to seal its contacts to the mobility gateway coils.

To simplify level dimensionality, take that 2D ladder diagram grid you see when you program a PLC into a 3D cube, and then make connections across the dimensions to create additional dimensions. If a single laborer jumps that start to temporarily make the coil contact seal, as a distribution outlier, the ‘stray’ is immeasurable to capital. Only if you allow others to follow and trigger the cascade counter is capital any the wiser. First you build out the new dimension and then you trigger the cascade to measurable income.

Capital, being capital, employs, grows, the middle class to hunt you down, with increasing efficiency, replication, which slows down the scan in the pertinent areas. Effectively, it is going faster and faster in the wrong direction, eliminating its own recursive pathways as it expends energy to hunt you down, shutting down legacy mobility, which is why it has to bulldoze to keep real estate price inflation going, leaving more and more of the middle class on the outside looking in.

The only differences between devices is perspective. As capital loses perspective, the flux available to the shrinking labor pool grows. Net, the critters have given up the ability to effectively raise families in return for a ticket to a rigged lottery, with 0 chance to retire in a McMansion with a BMW out front. At equilibrium, capital must pay effective parents to raise children, which is when small business, the opto-coupler, comes in to re-ignite organic growth, and re-start the motors of industrial production.

By going virtual, capital has effectively cut its own throat, with miniaturized proprietary systems that the middle class cannot see or touch, and compounded the problem by eliminating the physical backups to ensure control, controlling less and less, shrinking volume, with more and more energy expended, increasing pressure, with no exit, until and unless you give it one. You adjust gravity accordingly.

The trick, of course, is to bring the Cyclops to the cliff edge before waking it up, and then to let its reflexes do the work for you. At this point, Congress can delay itself right over the cliff or go back into its cave. Either way, it’s out of the way. The problem/solution in abstraction is losing sight of the hash table kernel, leaving runaway event horizon stacks.

But what the hell do I know, I’m just a dumb laborer, which all of capital and most of the middle class is trying to prove is replaceable. Keep priming the pump, from the top, down, and good luck with that.

Fri, 12/28/2012 - 18:11 | 3103211 ZeroAvatar
ZeroAvatar's picture

Lay off the dope, dude.

Fri, 12/28/2012 - 17:10 | 3102923 Waterfallsparkles
Waterfallsparkles's picture

Obama creates all of this hoopla and still saying my way or the highway?  Shame on him.  He is acting more and more like a Dictator than a President.

He wants total control over the Debt Ceiling for the next 2 years.  Just think how much damage he could cause to our Country by printing like Zimbabwe without Congress approval.

Next thing you know he will do a Presidential Executive Order to make himself Dictator for life.

Fri, 12/28/2012 - 17:09 | 3102925 Banksters
Banksters's picture

This is what happens when foreign and domestic policy is run by sociopaths.   Without principles we are lost.  

Fri, 12/28/2012 - 17:09 | 3102926 Getting Old Sucks
Getting Old Sucks's picture

I think this shit is all planned out on both sides.  They want the money from all of us and will just blame each other.  It will affect me and mine and yes, I'll be pissed.  However, there'll be some satisfaction that government spending will be cut and the defense fat cats will be hit hard too.  Government agencies will be forced to lay off.  They'll have to issue Treasuries to redeem SS trust bonds.  SNAPS will be cut as will unemployment insurance extended benefits.  Time to choose between working for minimum wage or pick garbage to eat.  Let the collapse begin.  Get the gold and silver ready to barter.

Fri, 12/28/2012 - 17:10 | 3102929 TheMayor
TheMayor's picture

BUY the F'N DIP!

Fri, 12/28/2012 - 17:12 | 3102933 lakecity55
lakecity55's picture

You have followed your orders well, ManofManyNames.  Soon, America will no longer exist.

The Council has voted to move you to head (puppet) of the UN, upon the final collapse of the former American Republic.

You will also get a key to the Elite Men's Room and Spa.

Soon, we will conquer these "americans" with overwhelming military force; even now, we are unveiling our NBC weapons to use upon these useless cattle. We shall grind them under our feet and salt their earth.

A special thanks too, from our Chairman, Lucifer.

(signed)

TPTB.

Fri, 12/28/2012 - 17:16 | 3102963 Uncle Remus
Uncle Remus's picture

The 99 names of O'Duffer...

Fri, 12/28/2012 - 17:54 | 3103133 FreedomCostsaBu...
FreedomCostsaBuck-o-Five's picture

Saw a new one earlier in the thread: Obongwater!
HA!

Fri, 12/28/2012 - 17:48 | 3103104 Getting Old Sucks
Getting Old Sucks's picture

If shit gets bad enough, there won't be a square inch in the world where a rich man will be safe.  They will have to disguise themselves as one of us to survive and live out their lives as a poor man. 

Signed,

The 99.9%

 

Fri, 12/28/2012 - 17:59 | 3103148 Freddie
Freddie's picture

The USA will not be safe. The elites hiding in Colorado or Arizona or Wyoming or Idaho?  Utah NSA bunkers?  The locals know who is there.  Chicago or Manhattan or Long Island?  Probably not.

The only place will probably be Hawaii.  Yeah the military is there but the Pentagon and Joint Chiefs are cowards.

Fri, 12/28/2012 - 21:49 | 3103895 Real Estate Geek
Real Estate Geek's picture

 I have good news and bad news, Getting Old Sucks.  The good news is that YOU are rich, at least as far as the rest of the world is concerned.  And that's also the bad news.

Fri, 12/28/2012 - 17:11 | 3102934 1eyedman
1eyedman's picture

its been a long time since a nice Friday-Monday rope a dope.....but like i said before and nicedown  12/31, sets up an easy 'up January'....or at least 'off the lows' for January..

Fri, 12/28/2012 - 17:11 | 3102936 stant
stant's picture

the mack daddy will never get a carrier named after him but he might get one shoved up his ass

Fri, 12/28/2012 - 17:16 | 3102965 F. Bastiat
F. Bastiat's picture

We can only hope.

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