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Cliffbiter

Tyler Durden's picture





 

It's the last trading day of the year, nothing has been resolved on the Cliff, the perpetually wrong media has now decided to change its tune and is spin the Wile E. Coyote plunge as a "good thing" (just as we expected), Congress is nowhere, the Senate failed to reach any resolution last night and is resuming the "negotiations" farce at the bright and early hour of 11 am, and yet somehow, in spite of everything, the strong bid under the futures refuses to go away (thank you Kevin Henry). This despite what is becoming clear to even this broken market (InTrade odds of a debt ceiling deal by the end of today are still a substantial 2.3%) that there will likely be no deal until some time in February or March when the debt ceiling extensions expire by which point the only question is how deep the US recession will be. And still everyone will be shocked, shocked, when nothing is done today either. Why? Because the market continues to price in an outcome which demands that it crash for it to be achieved. That so few grasp this is frankly, disturbing. Also, everything else is perfectly enjoyable theatrical noise. And just to keep the excitement factor really high, most rates and FX markets close early today, with rates and FX futures markets close at 1pm New York time while cash bond trading at 2pm.

Not like news matters anymore, but here is what else happened recently, via BBG:

  • Greek October retail sales imploded by 18.1% by volume and 17.1% by revenue, the biggest dump in 2 years and proof that despite Greek hedge fund bondholders being made whole, the Greek nation and economy has never been worse.
  • Merkel said the economic environment will be more difficult in 2013 than this year, and that Europe’s sovereign debt crisis is "far from over," though progress has been made
  • A French court’s rejection of Hollande’s 75% millionaire tax shows the limits on his ability to tap high earners, even as the ruling is unlikely to attract investors and executives back to France
  • BofAML Corporate Master Index OAS narrows to 153bps. $54.9b has priced in December. Markit IG widens 1bps to 98bps; YTD low 83bps. High Yield Master II OAS rises 2bps to 530bps; $25.26b has priced this month. Markit HY narrows 5bps to 510bps, YTD low 445bps
  • $6.6b ABS priced in December
  • EUR/USD falls, trades at $1.3187. Asian, European stocks mixed; U.S. equity-index futures higher. Energy complex lower, precious metals gain.

Oh, and finally today the US finally breached its latest and greatest debt ceiling as reported previously. But just one more hike, and this time the US will get its financial house in order. Promise.

 


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Mon, 12/31/2012 - 08:22 | Link to Comment Pool Shark
Pool Shark's picture

 

 

Step 1) Sit back and watch Thelma and Louise drive us off the cliff

Step 2) When the time is right; retrieve bullion from bottom of lake

Step 3) Profit!

 

[2013: The year we make contact... with the bottom of the canyon...]

 

Mon, 12/31/2012 - 08:50 | Link to Comment negative rates
negative rates's picture

I scream, you scream, we all scream, for ice cream!

Mon, 12/31/2012 - 09:35 | Link to Comment Muddy1
Muddy1's picture

And the prospects of a bank holiday starting on Wednesday are????????????

Mon, 12/31/2012 - 09:49 | Link to Comment S5936
S5936's picture

Ah yes ! Got to put the old bank holiday withdrawal on the to do list. Forgot about that , must of been the Smirnoff.

Mon, 12/31/2012 - 08:14 | Link to Comment Racer
Racer's picture

It is obviously sooo important to them in order  that they have loooots of time for negotiation so they start as early as possible at .... uh, uh,.... what... ....11:00????

and they went home early too? Hmm, us workers don't get to have lie ins like that if something VERY important has to be done.

Mon, 12/31/2012 - 09:00 | Link to Comment CPL
CPL's picture

Look, the poor lambs have to get up for the crack of noon after giving themselves pay raises to deal with the inflation that does not exist.

 

Yeah that's the ticket.

Mon, 12/31/2012 - 10:38 | Link to Comment Nobody For President
Nobody For President's picture

Beat me to it - but you are probably on East Coast time...

Mon, 12/31/2012 - 08:13 | Link to Comment Cursive
Cursive's picture

If we go over the "Fiscal Cliff", I'll wager that a bunch of idiots in NYC will still watch a ball drop at midnight and the sun will rise tomorrow.  Unbelieve to the mainstream media and talking heads, people can live without Big Brother.  Oh, there would be an adjustment to be sure, but we need the easy money cut off and a return to sanity.

Mon, 12/31/2012 - 08:22 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

We went over the fiscal cliff on August 15, 1971. What is staring us in the face right now is the prospect of hitting bottom.

Like the man said, it's not the fall that gets you, it's the sudden stop at the end.

Mon, 12/31/2012 - 08:46 | Link to Comment TheSilverJournal
TheSilverJournal's picture

That was supposed to temporary in order to defend the dollar against greedy speculators and keep the benevolent politicians in control of the counterfeiting ponzi. As always, look at what they do, and not what they say.

Vid of Nixon announcing end of Bretton Woods.

Mon, 12/31/2012 - 08:56 | Link to Comment iinthesky
iinthesky's picture

The dialectic marches ever forward, problem, reaction given to you by your programmers, solution. This is the reason they made this Super Congress. In order to ratchet up the income tax where noone will be to blame. Its just the fiscal cliff. Wow, the Edomite Luciferian conspiracy truly wants violence and bloodshed. They will squeeze till its unbearable and some MKULTRA manchurian dumb ass will snap and start something that will lead to ruin. Watch for it, and pray.

Mon, 12/31/2012 - 10:40 | Link to Comment Nobody For President
Nobody For President's picture

Another way to say it Buckaroo, is that I don't mind the laws of gravity, its the minimum sentencing guidelines that are such a bitch.

 

Mon, 12/31/2012 - 11:28 | Link to Comment Zap Powerz
Zap Powerz's picture

I, like Im sure many of you, have been listening with amusement to the talkings heads on various TV and radio shows about this faux fiscal cliff bullshit.

What strikes me as odd is that there is absolutely no one in the chattering class that asks the following question:

Who is making money from the US debt?

No one is getting at the root cause of the problem.  No one is asking the right questions.  Follow the money. There is a clear (and rather significant) incentive for the USA to be in debt.  Just like there is incentive for your bank to issue you a credit card with that initial low interest rate of 0%.

The reason we have a debt/spending problem is because we can borrow an infinite (they think) amount of money from a private bank to fund stuff we dont need, but want.  Just like your idiot neighbor that charges his Direct TV and big screen TV with the Sunday Package on his credit card.

The elected officials that push us deeper in debt and the bank that encourages greater debt are the enemies of freedom and should be delt with appropriately.

 

Mon, 12/31/2012 - 11:33 | Link to Comment Wjunk
Wjunk's picture

Its not the ups and downs that are a problems, its the jerks along the way.

Mon, 12/31/2012 - 09:24 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

Not so sure - if you don't remember the high-calibre excitement of a live TV cut-to-the-President announcing Bin Ladin's death interrupting everything else,  then you should.

“We can express our feelings regarding the world around us either by poetic or by descriptive means. I prefer to express myself metaphorically. Let me stress: metaphorically, not symbolically. A symbol contains within itself a definite meaning, certain intellectual formula, while metaphor is an image. An image possessing the same distinguishing features as the world it represents. An image — as opposed to a symbol — is indefinite in meaning. One cannot speak of the infinite world by applying tools that are definite and finite. We can analyse the formula that constitutes a symbol, while metaphor is a being-within-itself, it's a monomial. It falls apart at any attempt of touching it.” Andrei Tarkovsky (full version, age restricted)

Or, if it's too early for Soviet era cinema, you could just watch the Doctor Who Christmas Special, and cut to the ending [50 mins >]. Funny thing, last year it was all about 1,000 shining lights rising, now... well, I won't spoil the plot. Let's just say that Clotho works for Aunty to the Establishment on Christmas.

 

Mon, 12/31/2012 - 08:17 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

We have a clueless populace, informed by a mass media that is biased and incompetent, served by a congress that is corrupt, and led by a president who is a fucking communist.

Yeah, we're pretty much screwed. Help me find the silver lining here.

Mon, 12/31/2012 - 08:25 | Link to Comment quadcap
quadcap's picture

In the long run, we are all dead.

Mon, 12/31/2012 - 08:53 | Link to Comment AssFire
AssFire's picture

a mass media that is biased and incompetent

Buckaroo, that implies they have a small amount of objectivity and not aware what they are doing- when in reality, they are corrupt, lying, corporate conspirators who only appear stupid as to not compromise their plausible deniabliity.

Plausible deniability was coined after the Kennedy administration and has been standard operating procedure for this country's leaders & elites since the Jekyll Island meeting

Mon, 12/31/2012 - 08:58 | Link to Comment TheSilverJournal
TheSilverJournal's picture

Assets are extremely mispriced, and economies are completely out of wack due to the world fiat monetary ponzi and if you can not only see the malinvestments, but act to benefit from these imbalances being righted, great fortunes can be made. It will be the greatest and swiftest transfer of wealth ever.

Mon, 12/31/2012 - 08:28 | Link to Comment Wakanda
Mon, 12/31/2012 - 08:33 | Link to Comment Pool Shark
Mon, 12/31/2012 - 08:28 | Link to Comment Cursive
Cursive's picture

@Buckaroo Banzai

Well stated above.  The silver lining is, if you survive the coming tumult, a return of individual liberties and free association.

Mon, 12/31/2012 - 09:27 | Link to Comment Muddy1
Muddy1's picture

It's stacked in my safe and under the mattress.

Mon, 12/31/2012 - 10:28 | Link to Comment Vooter
Vooter's picture

The silver lining is that you still have the opportunity to follow your passion--whatever it may be--before you die. All of this shit was happening long before you were born, and it'll be happening long after you're dead. It's called "human existence." Take care of your own, help others when you can, and live your life while you're still drawing a breath--because one day, you will draw your last. As shitty as our situation may be--and believe me, a LOT of people on this planet have it WAY worse than we do--it's the situation we find ourselves in. It's not going away. So as the old saying goes, "When you have lemons..."

Mon, 12/31/2012 - 11:05 | Link to Comment Spastica Rex
Spastica Rex's picture

Wisdom +1

Although I am personally a fairly "passionless" individual.

Mon, 12/31/2012 - 11:38 | Link to Comment Zap Powerz
Zap Powerz's picture

Mr. Banzai,

There is never a silver lining.  There is only the struggle of life.  Our ancestors had to evade saber toothed tigers, they had to survive disease, harsh winters, and famine.  You and I are proof that they succeeded.  Their life fucking sucked compared to ours.

Our struggle is to survive and thrive in our current hostile environment.  We have conquored all other predators, we have defeated famine and most diseases. Our homes are warm in the winter and cool in the summer.

Now we have to deal with the most leathal of all predators: the sociopathic human being.  There are only a few of them, but they have enormous power and influence.  They have weaknesses and we will find them and exploit them and defeat them.

Its not a silver lining, but it is hope.  We must hope and try to be as good at defeating our hostile environment as our noble ancestors were.  They didnt struggle, fight and die to pass on their genes just so we could get to this point and fail.  At least mine didnt.  Im going to fucking win.  I dont know how or even what winning means exactly, but Im not going to fail.

Fight brother.  Fight.

Mon, 12/31/2012 - 08:18 | Link to Comment Mongo
Mongo's picture

Where is Sylvester Stallone when you need him!

Mon, 12/31/2012 - 09:27 | Link to Comment Muddy1
Muddy1's picture

Rambo marathon this weekend on AMC channel.

Mon, 12/31/2012 - 08:19 | Link to Comment icanhasbailout
icanhasbailout's picture

BofAML Corporate Master Index

 

Not even bothering to hide it anymore.

Mon, 12/31/2012 - 08:23 | Link to Comment deepsouthdoug
deepsouthdoug's picture

I've always wanted to know - is ol Wile E. Coyote a Democrat or Republican?

Mon, 12/31/2012 - 08:27 | Link to Comment Pool Shark
Pool Shark's picture

 

 

Neither; he's 'Roadkill'

 

Mon, 12/31/2012 - 12:09 | Link to Comment HurricaneSeason
HurricaneSeason's picture

I dont think he'd have a job if he wasn't a goobermint worker, whether he knows that and votes for the democrats is a seperate issue.

Mon, 12/31/2012 - 08:27 | Link to Comment lolmao500
lolmao500's picture

Well it is a good thing... in some kind of way... it could be even BETTER if it cut even more... by fixing the foreign policy, the medical industry and wall street... fix that and almost everything will be fixed... not that this will ever happen with the current bunch but eh.

A French court’s rejection of Hollande’s 75% millionaire tax shows the limits on his ability to tap high earners, even as the ruling is unlikely to attract investors and executives back to France

It will be fun to watch France's tax income for 2013...

Mon, 12/31/2012 - 08:40 | Link to Comment GCT
GCT's picture

LOL the French government is going to rewrite the law to make it more fair (LOL) to impose the same tax based on the courts opinion.  Nothing will change.  They will still impose the tax after the rewrite.  Go to french 24 they have it posted there.

Mon, 12/31/2012 - 09:24 | Link to Comment espirit
espirit's picture

With the French Oligarchy renouncing citizenship and heading to Belgium or Switzerland in an attempt to flee taxes - can't wait until those respective countries have an "Ah Hah!" moment.

Mon, 12/31/2012 - 13:11 | Link to Comment DosZap
DosZap's picture

It will be fun to watch France's tax income for 2013...

I hope it is a small as they deserve,  frigging frog socialist biatches.

They FIND it unconstitutional AFTER they see if it will fly, only thing  flying is millionaires.(LOL)

 

Mon, 12/31/2012 - 08:29 | Link to Comment westboundnup
westboundnup's picture

Insult to catastrophic injury . . . markets will end today off session lows.

Mon, 12/31/2012 - 08:40 | Link to Comment Global Hunter
Global Hunter's picture

you just gave me some hopium based fertilizer for my green shoots.

Mon, 12/31/2012 - 08:32 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

We are all Palestinians now. Got rocks ?

Mon, 12/31/2012 - 09:32 | Link to Comment Zosynspiracy
Zosynspiracy's picture

F'k the Palestinians.......this is Amerika........we will fight with molotav cocktails and ammonium nitrate!  We might be a beaten down old dog of a populace.....but don't count us out just yet.......us good ol' boys will show the world we got one last good fight in us........they will just wait for the up and coming generations who will be defeated with water hoses while tapping incessently into their netherPhones.....

Mon, 12/31/2012 - 08:34 | Link to Comment HD
HD's picture

"Because the market continues to price in an outcome which demands that it crash for it to be achieved."

Agreed.

Except in the new uber manipulated, print forever, goal-seeked, happy fun time hopium market - a 5% correction IS a crash.

I would be thrilled beyond words to be wrong.

 

Mon, 12/31/2012 - 08:37 | Link to Comment Global Hunter
Global Hunter's picture

is it even allowed any more for stock markets to decline by 5% in any period of time less than one year?

Mon, 12/31/2012 - 09:27 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Hussman sez (crash) of 32 to 39% due in near future.

Mon, 12/31/2012 - 08:35 | Link to Comment Global Hunter
Global Hunter's picture

"A French court’s rejection of Hollande’s 75% millionaire tax shows the limits on his ability to tap high earners"

Fuckin amateur! Just sign an executive order like Obamao does...somebody get Obamao's handlers at the UN on the blower with this Hollande toot suite.

Mon, 12/31/2012 - 08:36 | Link to Comment q99x2
q99x2's picture

With fake money and algos the fraud indexes can go higher.

Mon, 12/31/2012 - 08:37 | Link to Comment OldNewfy
OldNewfy's picture

Perhaps the alleged leaders could keep us distracted by provoking a noisy (and 'essential' for our security) military adventure somewhere.  Seems that when you've got lots of able-bodied adults out of work, they get to be cannon-fodder in a military conflict, ideally somewhere else.  Wars generally seem to have been used as justification for deficit funding strategies, at least historically.  What bad international actors can be fingered?

Mon, 12/31/2012 - 12:16 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Since "wars" dont involve battles anymore, I think Peru would be good. I dont think they have any military and they have that shining path terrorist group and natural resources. It would save on gas to ship all the stuff there instead of the China area.

Mon, 12/31/2012 - 08:37 | Link to Comment NaiLib
NaiLib's picture

Happy New Year! Washington Politicians still alive and thriving...Don't worry. They will get paid no matter what. That is one of the main resons why there is no solution. Cliff is certainly better for the US than anything they will come up with.

Mon, 12/31/2012 - 08:44 | Link to Comment HD
HD's picture

Paid? Hell, they just got a raise.

Mon, 12/31/2012 - 08:46 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

To cheer you all up, since most of the minnows have left the fiscal pond ~ 10,000 fish on 3 acres; vertical (low-tech) aquaculture. [Video is low information, but the tech is hardly rocket-science. More like bucket + pump from your local DIY store].

Mon, 12/31/2012 - 08:49 | Link to Comment negative rates
negative rates's picture

Next up, nail biter debt talks that lag into May, or beyond.

Mon, 12/31/2012 - 08:50 | Link to Comment Professor Fate
Professor Fate's picture

The best possible outcome is to do absolutely nothing about the cliff or debt ceiling.  Let it all happen. Get it over with.  BrIng on FEARLESS FREEP? 
http://www.youtube.com/watch?v=wOKmuH8BfOk

"Push the Button, Max"

Fate the Magnificent

Mon, 12/31/2012 - 09:04 | Link to Comment TheSilverJournal
TheSilverJournal's picture

Not raising the debt ceiling would be very much the right thing to do. Going over the cliff won't solve the debt problem because the debt problem is much, much bigger.

There is no way out other than bankruptcy. The only question is, bankrutpcy now and it will be very bad, or bankruptcy later and it will be extremely bad?

Mon, 12/31/2012 - 09:16 | Link to Comment Zosynspiracy
Zosynspiracy's picture

People like you, with all due respect act like this is somehow a matter of poor mismanagement, chance, irresponsibility, inept incompetence on the part of government.  As much of a dolt your average politician is they didn't get to where they are by mere chance and being retarded.  The USA went over the fiscal cliff in 1913 when we allowed our monetary system to be controlled by a bunch of private banks and bankers.  The real enemy is not government, the real enemy is Rockefeller, Morgan, and banks such as CITI who control everything in this country.  This is exactly what they want.  Bankruptcy?  HAHA......fat chance...these banksters would never allow that to happen and watch their paper wealth go up in smoke?  No these guys know exactly what they are doing......they don't care one iota about America or Americans.  They operate withina  global framework of corruption, manipulation, and outright power grabs.  STATOIL is buying up 70,000 acres of prime natural resource rich land while millions of Americans are out of work......LMAO!  And we as dumb braindead retarded American lemmings just keep grabbing our ankles while our wealth, prosperity, and country are sold off piecemeal by the fascist pigs in government at the behest of their banking overlords.  Jesus fucking Christ we fought a goddamn war over this shit 250 years ago..WTF happened to this country??????????  We are straight up pussies.........Ron Paul was our last chance......and he was laughed off of the political stage..called a kook and a creepy old guy.....that is the idiocy that is the American voting public.  But what the hell do I know I'm just a tax paying, law abiding, hard working, middle class white boy who expects to suffer the consequences of my actions and handle my shit like a man! 

Mon, 12/31/2012 - 09:57 | Link to Comment TheSilverJournal
TheSilverJournal's picture

If you're going to tell me how I act and what type of group I'm like, at least be somewhat in the ballpark about it. One way or another, the US is going bankrupt very soon. Ponzies must grow or they die. So much fiat is going to be created that the numbers will literally start reaching for infinite, at which point it will be impossible for fiat to hold any impression of scarcity and the printing press will be rendered worthless.

The ponzi started with the lie behind fractional reserve banking, long before 1913. The lie being that depositors are told they can withrdaw on demand, when it fact it's circumstantial.

 

Mon, 12/31/2012 - 10:22 | Link to Comment urwright
urwright's picture

Fractional Reserve is the problem?

No.

Problem started the day some asswhipe deemed Capital as being seperated from the fruit of Labor.

This is the reason Capital Punishment has been basterdized into seperrating criminals of life creating wealth from just dumb killers. Manson could never hold a candle to the Bernank

Mon, 12/31/2012 - 10:29 | Link to Comment TheSilverJournal
TheSilverJournal's picture

I agree. The problem started with the lie behind fractional reserve banking and has led to the fiat ponzi engulfing the world, rates down to 0%, and now QE...which is the end. There are no more steps in this ponzi other than to just keep jacking QE. Government couldn't be huge without the Federal Reserve and the Federal Reserve couldn't exist without government. All of this is to siphon off the wealth of the people and run it through the central planners so they have the power of redistributing that wealth.

Mon, 12/31/2012 - 10:15 | Link to Comment urwright
urwright's picture

Bless You Man.  

Mon, 12/31/2012 - 10:16 | Link to Comment Vooter
Vooter's picture

Well, I don't disagree with you, but the bottom line is, what are you doing about it? And don't worry--I'm not doing anything about it, either. But you were the one calling people on the carpet, so lead the way....

Mon, 12/31/2012 - 08:51 | Link to Comment Samsonov
Samsonov's picture

It's not strange that stock prices stay up, given the high profit margins and the relatively stable economy--and the lack of investment alternatives.  Look at it this way: the money the government prints has to go somewhere, and where it goes eventually is to businesses, and shareholders.  Until there is some disruption, which may not be for many years, I see a major crash as unlikely.

Mon, 12/31/2012 - 08:55 | Link to Comment Catullus
Catullus's picture

BTFD when and if it happens.

Mon, 12/31/2012 - 09:00 | Link to Comment Sudden Debt
Sudden Debt's picture

we still have a few more years untill the pension funds blow up.
3 to 4 years.

2013: more of the same old same old untill the old dies.

Mon, 12/31/2012 - 09:30 | Link to Comment Debt-Is-Not-Money
Debt-Is-Not-Money's picture

"2013: more of the same old same old untill the old dies."

As part of ObamaCare I expect the FDA any day now to approve Hemlock to speed this along!

Mon, 12/31/2012 - 09:12 | Link to Comment Inthemix96
Inthemix96's picture

What you lot need in America is a large unacountable, monolithic beaurocratic system in place to resolve the terible situational crisis which yours and my country face.

We could call this new and improved money raking machine on the backs of the populace something like....... I dont know, how about the E-EWE?

And if we employ say, 13,000 lecherous, arse-wanking, lazy dickheads on around $12,000 per month to sort out the very grave and dire money-from-thin-air situation, we could even have some progress to pastures a fair bit more prosperous than we face now.

Any chance of a 'Nobel', for my handsome work here please?

Mon, 12/31/2012 - 09:50 | Link to Comment negative rates
negative rates's picture

Well lets see. There is no will of the people to make an agreement, there is no trust in the congress anymore, and the Administration is dropping like flys. Cliff? I don't see any cliff, maybe some boats.

Mon, 12/31/2012 - 10:06 | Link to Comment orangegeek
orangegeek's picture

The system is locked down by big government and lapdog media.  Decades of training and we have an obedient populace.

 

There's an achillies heal.  The markets.  Below is a Dow daily.  It will be hard to ignore/explain the turn down/ the disappearance of pensions and investments when the markets accelerate downward.

 

http://bullandbearmash.com/chart/dow-jones-daily-falls-150-points-today/

 

From people to companies to share prices to indexes.  Stock market indexes are the truest reflection of what's really going on out there.  That's why Barry and his band of thieves are unloading billions everyday to keep it propped up.  Barry and his thieves know that when the markets tank, it's a different world - this is a process, not an event like that made up "fiscal cliff" nonsense.

Mon, 12/31/2012 - 10:12 | Link to Comment jplotinus
jplotinus's picture

This article is saying futures market indicators do not confirm the prediction of a crash today, despite ZH's incessant calls for a crash in order to force Congress to take some step that would not really lower debt, not really cut the deficit and not really raise taxes, but would please the market.

That is the wrong approach. ZH does not have the ability to accurately and reliably predict the direction of the market on any given day; and, neither does any other entity, animate, inanimate or singularity, even.

It would be better to analyze the actual cuts and their likely effects as a function of what money is withheld from what function, and not otherwise. The market will do what it usually does; i.e., go up one day and down the next.

Mon, 12/31/2012 - 11:08 | Link to Comment Spastica Rex
Spastica Rex's picture

I think anyone who predicts that the market is going to go up on any given day has a pretty good track record. Better than the National Weather Service. Way better.

Mon, 12/31/2012 - 10:24 | Link to Comment Lewshine
Lewshine's picture

I posted last night around 8:00 pm CST that the Futures market would continue to improve up and until the open. If anyone on this link, on this site - Or in the frickin WORLD believes this is NOT a gigantic scam on behalf of Ben, Timmy and the rest of our immoral central planners - You have to be brain dead!! There is NOTHING that moves these markets either up or down, that first doesn't get approval by these animals. There has been nothing done, nor will be - Cliff, Ceiling, War or full blown depression makes absolutely no difference, the markets (any of them, any asset that trades) will perform EXACTLY as needed...Leaving nothing to chance.

We all gather together on this site and others like it to discuss "what might happen" based on current, historical and future events. What a great waste of time!! NO EVENT touches pricing. Pricing of assets is all together separate of events. This is what Ben has created. Tied to nothing but NEED!! His needs, based on his perceptions. He can halt, run and crush momentum, flip and whipsaw the biggest moves AT WILL...And we sit around giving this fraud credibility by debating what might happen next (in the markets) IF a bunch of men on the Fed's payroll do on Capital Hill. Here's the 100% guaranteed answer, whatever the hell Ben NEEDS - Period!!

If we see a 20% retraction in stocks it is because the move is needed to pursuade, it is needed to further Ben's business - It has been allocated and approved.

Within a 1/2% of everything...NOTHING is left to chance.  

Mon, 12/31/2012 - 11:16 | Link to Comment post turtle saver
post turtle saver's picture

Drink!

Mon, 12/31/2012 - 12:31 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Funny thing about the fiscal cliff news.  Washington and the media are calling 10% cuts in Federal spending a disaster.  On the other hand 10% cuts for citizens facing higher taxes are trivial.

 

Mon, 12/31/2012 - 12:54 | Link to Comment glenlloyd
glenlloyd's picture

Fiscal cliff will be like Lehman bonds, day before bankruptcy they were trading par, the next they were worth pennies.

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