Obama 'Balanced'; Market 'Unbalanced'

Tyler Durden's picture

He came; he spoke; he said 'balanced' a lot. The market decided it's not so 'balanced' and is responding thus...

 

S&P 500 futures ramped on the hope in the first few words and then slipped back as he went on and on in a 'balanced' way...

 

Chart: Bloomberg

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tooriskytoinvest's picture

US Economy Is At Depression-Era Levels: This Slow Motion Economic Collapse...Beyond The Obvious -- Mountains Of Deficit And Debt. It Is About Polarization" In Washington And Dysfunctional Structure Of The Current US Economy... US GDP Priced In Gold Worst In A Century. Stop The Debt, Spending, & Wars!!!

http://investmentwatchblog.com/us-economy-is-at-depression-era-levels-this-slow-motion-economic-collapse-beyond-the-obvious-mountains-of-deficit-and-debt-it-is-about-polarization-in-washington-and-dysfunctional-structure-o/

 

true brain's picture

What Obama doesn't know is that the power elite is determined to make an example of him. His reign will be over  the Greatest Depression ever.. He thinks he has all the cards but he does not; he will be the only and last black president this country will ever know. The secret is the Republican really wants to go over the cliff. When the rich gets soaked , the poor blacks and hispanics end up in the street. They outsmarted Obama- always have and always will.

Michaelwiseguy's picture

Complete hopelessness comes in less than 10 hours. Thank you God.

Snakeeyes's picture

There is little doubt that we are way over the top on spending and borrowing with the little guy getting foodstamps and cellphones.

http://confoundedinterest.wordpress.com/2012/12/31/lets-make-a-deal-rais...

Obchelli's picture

And markets move higher and higher crashing VIX - is that invisbible hand of chairsatan Beernank?

ball-and-chain's picture

We're in a depression.

But this isn't the first time.

And it won't be the last.

Got to keep things in perspective.

We'll survive.

http://www.angrysinner.blogspot.kr/2012/12/yesterday-i-hiked-ten-miles.html

knukles's picture

Todja he secretly watches Fox News.

ACP's picture

And the Tylers forgot to label the red arrow "change."

TruthInSunshine's picture

Obamney Translator Just Produced This Translation:

 

"We are going to ensure that more flesh & blood is extracted from the rapidly dwindling pool of actually productive individuals & businesses, and we will implement measures in a series of steps to save the parasitic Banking/WallStreet/Defense/BigPharma&HealthCare complex from any cuts (let alone not see their taxpayer provided trillions in subsidies increased dramatically), because Deep Capture is here to stay, and that's how Deep Capture rolls bitchez. Happy New Year!"

derek_vineyard's picture

is this all scripted?   (this = the f____ c____ words i just cant say or type anymore)

Taterboy's picture

"Does this mean those meany Repubs can't take my Obama phone. Time to hit the New Year's Eve 40 oz."

TruthInSunshine's picture

KromyKomradeDerKommissar has rationed lager, ale and pilsner, and is substituting malt liquor in 40 ounce bottles, for sales completed with EBT Swipes.

This is part and parcel of Chain CPI and Hedonic Quality Adjustment.

fourchan's picture

i think i will leave my shorts fully in place. look out below. dow 12,250 by friday

Panafrican Funktron Robot's picture

The levitation only has to happen through 4 pm EST.  We're looking at a pretty solid dump from Jan. 2nd - Jan. 21st.  

Lost Wages's picture

Which market are you looking at?

DavidC's picture

The one that went down and is now going up again...

DavidC

scatterbrains's picture

looked to me like an effort at taking advantage of gathering all eyes just before everyone leaves the office early for the holiday...  and no deal

TheFourthStooge-ing's picture

.

looked to me like an effort at taking advantage of gathering all eyes just before everyone leaves the office early for the holiday...  and no deal

But, but, he said a potential deal appears to be in sight. Why aren't the markets reassured by that? It sounds like it's almost a sure thing, unless the punchbowls in Vichy DC have been spiked with Psilocybe cubensis.

toady's picture

OK, off to the new years party. Push all this off till a #supercliff in March, and a #supercalifragilisticexpialidousioscliff in July.

GMadScientist's picture

+1 for "Vichy DC", I'm stealin' it!

slaughterer's picture

Fuck, MErry Recession and Happy NEw Misery.  See you wrecked at the bottom of the cliff, all barefoot and bloody, mein Kumpels.    ZH town--built by Clayton, with Third World hands.  

Cognitive Dissonance's picture

I loved that blooper of his. Something about shoving it down their..........oops.

devo's picture

That chart looks like a nerd's boner on prom night.

Boilermaker's picture

Fuck it!  Ram the RUT!!! Ram the SPX!!!

RAM THAT SHIT!!!

Water Is Wet's picture

I love your wildly bullish enthusiasm!  It's depressing seeing so many bears on here.  Good to see a good guy willing to put up with all of them!

Boilermaker's picture

FUCK YEA!  The fate of the entire Republic and my son's personal future ride on the valuations and multiple on common equity!!!

It just makes sense!  Now RAM THAT SHIT!! RAM IT!!!

Freddie's picture

The House Tea Party repubs should tell Mullah and Hairy Read to go F themselves.   Cut everything 10%.  Then when the debt ceiling comes up in a few weeks - cut everything 10% again.   They need all out war against the islamic. F him.

DoChenRollingBearing's picture

Yes, it's the spending.  But, I have little confidence that the Tea Party Republicans are up to the task of holding ALL of their feet to the fire.

***

I agree as well re the debt ceiling.  That would be a great opportunity to gum-up .gov!  Cut, cut, cut!

If they cut spending enough...

1) They might LOWER taxes

2) We would have fewer "programs"

3) Less NASA aid to our Muslim country pals... (N Korea is Muslim, right?)

4) Too many other things to even list

What's not to like?

Ookspay's picture

Hairy Greid is the most despicable human being ever to stain the halls of congress, may he soon go the way of number two Arlen Spector.

Cloud9.5's picture

I don't know?  Barney comes in a close second.

GMadScientist's picture

They've been stymied so far by the inability to find anyone that actually knows how to pass a bill.

 

 

Snakeeyes's picture

LOL! The market is reacting to the expectation that the can will be kicked down the road ... yet again.

Fiscal cliff replaced by fiscal insanity!

http://confoundedinterest.wordpress.com/2012/12/31/lets-make-a-deal-rais...

cliffynator's picture

Fiscal Cliffs of Insantity! (from Princess Bride)

 

I need to change my screen name...

Pool Shark's picture

 

 

"A deal is NEAR."

You keep using that word, I do not think it means what you think it means...

 

Pool Shark's picture

 

 

Sorry DJIA and NASDAQ;

NO 13k/3k FOR YOU!!!

[The Grinch came late this year...]

 

CrashisOptimistic's picture

This is still a fairly stiff smack at 2013 GDP.  The Payroll Tax rate is going up 120B across the entire year.

The Sequester will be another 100B+ across the year, and what's amusing is he wants to say "that has to be balanced with revs" when that deal was already defined in Aug 2011.  He got his price for that already -- the payroll tax cut (not rising).  He's trying to get paid twice for the Sequester.  Not going to happen.

In sum it looks like 1.5-2% reduction in GDP for 2013.

Then come March, the Boehner insistence on $1 of baseline spending cut for every $1 of debt ceiling increase again comes into play.  The MSM isn't understanding all this, but the GOP is winning.  Spending cuts ARE happening. That is what the Sequester is.  The tax increase on the rich is only a few hundred billion.  The spending cuts are trillions.

Panafrican Funktron Robot's picture

I think the 120B payroll tax going up will have a "multiples" effect on GDP.  That's 120B taken directly out of consumption spending.  Consider the implications of leverage on that 120B.  I think the knock-on damage is probably closer to 600B from that tax hike.  Recession guaranteed just from that point alone.  

gimli's picture

It was wonderful he had all those "folks" behind him laughing and clapping. Next time maybe we can watch in 3D and sense-around. Then he can add the Academy award for acting to go with the Nobel.

cliffynator's picture

Seriously!  What was that crowd he was speaking to, the Press Corps?  I didn't expect to hear hootin' & hollerin', raucus laughter and clapping, let alone invitations to New Years Eve parties...

gimli's picture

They were obviously his wife's servants

gimli's picture

....... whoops, excuse me, I meant staff

gimli's picture

..... but then again it is possible they were orcs or goblins

glenlloyd's picture

I'd be hard pressed to find a difference.....

XtraBullish's picture

Never underestimate the replacement power of equities within an inflationary spiral. Short U.S. fiat by buying ANYTHING "tangible" because the currency of the world's largest debtor nation is going to get trashed. Short cash; short bonds; short the banks. Buy gold stocks, oil stocks and depressed junior mining issues for the torque. And turn off CNBC.