48 Hours Away From The Cliff: "No [Major] Progress"

Tyler Durden's picture

Surprise! As we all wait on tenterhooks for tomorrow's messianic 'Meet the Press' appearance, The Hill reports that a Senate aid with knowledge of the talks said late Saturday afternoon there is "no major progress." The rare weekend negotiations continue with the sticking point still taxes - which will come as no surprise to any who read/listened to Ron Paul's clear analysis of the idiocy taking place - but differences on other issues, including spending cuts, linger. Reid has scheduled a Democratic caucus meeting for Sunday afternoon to give his colleagues a chance to weigh in on a potential deal. McConnell has said he would do the same.

 "I believe such a proposal could pass both houses with bipartisan majorities – as long as these leaders allow it to come to a vote," Obama said in his weekly address. "If they still want to vote no, and let this tax hike hit the middle class, that’s their prerogative – but they should let everyone vote. That’s the way this is supposed to work."

If the Senate passes the legislation, it would then force the House to take up the bill on the eve of the looming deadline - leaving the 'blame' at the foot of Boehner's Republicans should they not support it. The games continue... but in the meantime, consider what the debate would have looked like (literally) if Elizabeth Halseth was still in the Senate (and yes, we realize how silly this is; just like pretty much everything else).


Elizabeth Halseth was a Republican member of the Nevada Senate from November 2010 until February 2012. Halseth is the youngest woman in Nevada to ever have been elected to the Nevada Legislature.

From her bio:

Halseth was born in Portland, Oregon in 1983, where she was raised by her mother. She graduated from North Salem High School in Salem, Oregon in 2001. She moved to Nevada in 2006. Although she has taken online classes in psychology from Corban University, she does not hold a degree and is currently taking a break. She has indicated she intends to pursue a Master of Business Administration degree in the future.


Halseth married Daniel Halseth in the early 2000s.They have three children named Dana, Jordan, and Sierra.[6] In October 2011, Daniel was arrested on allegations of open and gross lewdness against Halseth. He filed for divorce the following month.


In 2012, Halseth made headlines for submitting a photo of herself to the men's magazine Maxim posed in a bikini for its "Hot 100" online contest.

More of America's youngest ex-senator can be found here.

In other news: Where are we... (Via Armstrong Economics)

The real manipulations of our future continues in Washington. The markets are pausing because as usual the politicians are incapable of ever doing the right thing. Obama is hell bent on following France down the toilet and Boehner is going along for the ride.


House Republicans are hoping Obama may offer to extend the Bush-era tax rates for incomes under $400,000, which is where he was before negotiations blew up. Obama has been pushing for a threshold at $250,000 while Republicans insist that it be set at $500,000. Even France is 1 million Euro. The Republicans are also hell bent on raising taxes because they know there is no money.


Republicans are praying for an extension of the current estate tax, which is a 35 percent rate over a $5 million threshold. Obama wants a 45 percent rate on a $3.5 million threshold. However, even the congressional Democrats are afraid of this one.


Obama wants an extension of unemployment benefits and various tax breaks for businesses and lower-income workers. The Republicans do not want to include the infrastructure funding that Obama has requested to help “stimulate” economic growth, which of course it will not do. The current payroll tax cut is also due to expire, meaning that individuals would see larger withholdings in their paychecks.


If a deal is reached, this would delay sequestration, which if left in place would result in roughly $1 trillion in spending cuts over the next decade since both sides could not agree on what to cut. It would leave the debt ceiling issue unresolved just to keep the drama for the financial markets and the press to sell papers. The Republicans hope to keep this as leverage with the Democrats to secure additional spending cuts and entitlement reforms. Sources on the Hill say this will most likely take place keeping it politics as usual.

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stinkhammer's picture

some carney sold me two tickets to ride on "the cliff"    I wasn't tall enough to get on

YuropeanImbecille's picture

The "Democrats" have played this well, they will shove this bullshit proposal down Boners throat and that was the end of it all.


there are no men left to say no, to this insanity anymore.. it is just as RP said it.

TruthInSunshine's picture

At 8:15 am EST on Monday, December 31st, there will be an "anonymous" rumor leaked that Obamney & Boehner have reportedly agreed on a deal in principle.

At 4:15 pm EST on Monday, December 31st, after market close, the earlier "anonymous" rumor will be steadfastly denied by both "different" parties.

Michaelwiseguy's picture

I'm changing the label "Conspiracy Theorist" to "CSI Hobbyist". They're everywhere.

DoChenRollingBearing's picture

Non illegitimi carborundum...

Some things get stronger under stress...

"Antifragile", the title of Nassim Niscolas Taleb's new book (the guy wrote the enormously influential (2007) The Black Swan) as well as a word he had to make up.  I am at Page 48.  As he explores his topic, so I will chip in my reactions as I encounter ideas of interest.


Michaelwiseguy's picture

You do all realize you're all just part of a few very powerful peoples game play, don't you? It's been that way for over 100 years!

economics9698's picture

When I feel really bummed about the shit we are in today I read Rothbard and it makes me feel better reading about the really big shit piles in the past.  It always amazes me how few men of intelligence there are that ever existed.  Most just money grubbing whores or buffoons who could not think out of a paper box. 

Funny how this shit will all be over in 10 years and everyone will have 20/20 hindsight.

AGuy's picture

" I read Rothbard and it makes me feel better reading about the really big shit piles in the past."

Not if you consider the Planet has about 7 Billion people and about 25K to 30K Nuclear weapons. This will not end well! When A nuclear war breaks out more people will die in the first day, than all of the wars of the past combined.



Michaelwiseguy's picture

I really like the part of this video where Jackqueline Kennedy scoops up parts of JFK's skull and brains from the trunk of the limo and tries to put back together pieces of her husband's head with the car moving. (About 50 minutes into this video.)




GetZeeGold's picture



I wasn't tall enough to get on


I lied about my age and was standing on a stool.....they didn't think twice about it. I plan on going back tomorrow.

SWRichmond's picture

Raised by her mother + flaunts her sexuality + has her husband arrested = misandrist neofeminist.  Women like this are throw-aways.  or better still, stay-ways.  God help you if you ever get involved with one of these.  There aren't words strong enough to express my contempt.

GetZeeGold's picture


God help you if you ever get involved with one of these.


Don't look now......we're surrounded.

one-in-nine's picture

Much better to rent than own. 

GMadScientist's picture

missed her daddy, dated a filanderer, and was hoping to find another sugar-daddy with publicizing her goods.

you're not projecting at all. really.


Tyler Durden's picture

Or you can just read this op-ed which explains why central planning guarantees failure: "Black Swan" Fund Creator Explains Why Central Planning Has Doomed Us All

TruthInSunshine's picture

Another gem that's a must read, from 2002, by The New Yorker re Taleb & Niederhoffer.

economics9698's picture

@ Tyler, good analogy but the bail outs started with Penn Central (AMTRAK) in 1970, Chrysler, and so forth.

Before bail outs it was regulations, cartels, and unions.

DoChenRollingBearing's picture

@ Truth

Yes, thank you as well for a real gem.   And from 2002, before I had even heard of the guy.

Truly, I did not think that anything could come along before today ends (in 10 minutes) that would add to my most excellent day, it was ZH-er "The Navigator" who pointed the way to "honestan"'s most excellent post a few days ago.

Truth and Tyler, what a great way to finish a remarkable day, + muchisimo to you both.


What is NEW in Antifragile, though, is that Taleb says that prediction is mostly wasting one's time.  He (at least through Page 48) is saying that it is examining the vulnerability of the thing (system, notion, person, company, etc.) where paydirt is found, especially in finding ways to thrive in an unstable and risky environment.

TruthInSunshine's picture


Taleb has been pretty much stating that everything is rigged from top to bottom by central fractional fiat reserve banks for now, but that unforseeable events will inevitably completely undermine their ability to keep things from spiraling extremely out of control (into entropy once again), and in the interim, this is why so many long-standing, extremely reputable large AUM fund managers have essentially returned partner/investor monies and closed shop.

The next crisis is going to be one for the record books. It will be so, at least in significant part, because those with their hands on the levers chose to kick the can, rather than take the medicine, in 2008.

DoChenRollingBearing's picture

@ Tyler

Thanks for the interesting link.  I missed that article.

I spend a lot of time at ZH, yet I miss a lot.  To get it all, I would never get any "work" done!

(I am going to keep reading Taleb's book though, it covers a lot of turf above & beyond central planning)

CompassionateFascist's picture

Net: they will tax more, spend more, deficit more, and monetize more. This deep in a Debt Trap, it's about all they can do. Well, yes, in theory, they could sharply reduce taxes, spending, and regulation, so restoring a free market economy and a Constitutional Republic...but that the Global Stalinists will not do: no more welfare/warfare state. No more control. No more lawless power. Ultimately, of course, when their debt Ponzi collapses, power will flow from its ultimate source: lethal violence. Which is why the Global Stalinists - Soros, Bloomberg, Feinstein, Schumer, and their goy stooges - are making a final, desperate gun grab. They will fail, and they are doomed.    

fonzannoon's picture

If people had any clue who  the bad guys were they would not need a gun. They could have voted them out. The fact that they keep voting them back means when the debt ponzi collapses and chaos hits, people will go after each other because they still will be too fuckin stoopit to realize what was going on the whole time.

GetZeeGold's picture



You can start with a jewish masonic republician,


Not all that much different from a jewish masonic democrat I'm thinking. It's all the same club really.

eclectic syncretist's picture

any sucker who thinks this or anything is about dems vs repubs is lost until they realize that the two parties are sides of the same coin. 

scatterbrains's picture

for realz.. this is a fight between two splinter Keynesian factions.. those that control the federal reserve and the potus vs. Keynesian that know in their gut that this ponzi is about to blow and want to throttle back a little bit or at least appear to want to for the voting public.


eclectic syncretist's picture

any sucker who thinks this or anything is about dems vs repubs is lost until they realize that the two parties are sides of the same coin. 

ball-and-chain's picture

I agree.

We ain't going over the cliff.

We should go over the cliff.  But we ain't.

The world is controlled by Wall Street and the City of London.

Get used to it.


asteroids's picture

Common sense folks. It take TIME to write the damn law and get it right. By all rights it should be properly vetted and debated. These bozos are short circuiting everything. Even if something does pass. It'll be a mess.

toady's picture

Drop the 'even'...

If something passes it will be a mess.

GetZeeGold's picture



Something wicked this way comes.

Insideher Trading's picture

This is so unbearably sophomoric that it elicits no feeling other than embarrassment.

I can't believe this is what our country has come to. All that's left to do is sigh and watch this tragic comedy sublimate. This is like watching two retards fuck (no, I've never seen two retards engage in coitus, but I can imagine this is what it would feel like)

stinkhammer's picture

Rule #1 don't let retards fuck; including you Harry and Nancy

DoChenRollingBearing's picture

@ stink and Insideher

Add my + 1 to the many others you got, well done!

Pharming's picture

I think I need to change my picture...your's is easier to look at than my burning dollar.

bunnyswanson's picture

Paying off witnesses, covering up criminal activity and corroboating their stories is time consuming. 

NeedtoSecede's picture

I had to go to WalMart twice this weekend, and from looking around at the zombies walking around there I can say, without any doubt in my mind, we are fucked.  Even if the system does crash, and these fuckers are starving in the streets, they will still think the goobermint will "save" them and whatever is left of the media will be telling them "the truth", and they will believe it  We have morphed into a fat, lazy, brain dead nation of zombies and many may not even notice if this fucker crashes.  Keep the TV on and make sure the shelves stay stocked with soda pop (beer) and the sheeple will remain docile even as they are led to slaughter.

I just hope I have a little more time to get my shit squared away before it all comes down.  And just for good measure...

Fuck You Timmah, Fuck You Berspankme, Fuck You Feinstein!


ShortTheUS's picture

RTRS: A source with knowledge of the talks, speaking on condition of anonymity, said: "We are still very far apart with almost no time left on the clock."

I am Jobe's picture

She will gain more respect if she was at Mustang Ranch.

willwork4food's picture

Then I might seriously start believing in the Senate again...

eatthebanksters's picture

Hoes are at least honest when they tell you they'll fuck u for money

knukles's picture

She's taking degrees online in psychology.

She's trying
Not very hard, but trying
And I still like the 40's pinup women, better

GetZeeGold's picture



And I still like the 40's pinup women, better


They had to put more work into it....cause they couldn't take off their clothes.

Karlus's picture

No thx. Seems this chickie was banging the local golf pro named Tiger (not Woods) and when hubby confronted her, she had him arrested five days later. Its a setup so she could get custody and relo to Alaska with her boytoy.

Also seems to be involved in four past sexual harassment lawsuits.

No thx, dont need this type of creature around.


awakening's picture

Very interesting tale there, beware the Weapons of Mass Distraction ZH'ers =)

GetZeeGold's picture



I hurt my head in the car wreck officer......I swear! Please, at least leave me with my dignity and blame the car.

blown income's picture

That was a great read ,un fucking real almost like the movie with Douglas and Moore in Oregon !!!