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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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Mon, 12/31/2012 - 14:57 | 3109885 tooriskytoinvest
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/

 

Mon, 12/31/2012 - 15:15 | 3109993 true brain
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.

Mon, 12/31/2012 - 15:23 | 3110035 Michaelwiseguy
Michaelwiseguy's picture

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

Mon, 12/31/2012 - 15:23 | 3110037 Snakeeyes
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...

Mon, 12/31/2012 - 15:41 | 3110092 Obchelli
Obchelli's picture

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

Mon, 12/31/2012 - 17:51 | 3110675 ball-and-chain
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

Mon, 12/31/2012 - 14:57 | 3109887 knukles
knukles's picture

Todja he secretly watches Fox News.

Mon, 12/31/2012 - 15:02 | 3109930 ACP
ACP's picture

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

Mon, 12/31/2012 - 15:05 | 3109938 TruthInSunshine
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!"

Mon, 12/31/2012 - 15:07 | 3109955 derek_vineyard
derek_vineyard's picture

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

Mon, 12/31/2012 - 15:12 | 3109982 Taterboy
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."

Mon, 12/31/2012 - 15:18 | 3110014 TruthInSunshine
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.

Mon, 12/31/2012 - 15:04 | 3109943 fourchan
fourchan's picture

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

Mon, 12/31/2012 - 15:18 | 3110012 Panafrican Funk...
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.  

Mon, 12/31/2012 - 14:57 | 3109889 Lost Wages
Lost Wages's picture

Which market are you looking at?

Mon, 12/31/2012 - 14:59 | 3109906 DavidC
DavidC's picture

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

DavidC

Mon, 12/31/2012 - 14:59 | 3109890 scatterbrains
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

Mon, 12/31/2012 - 15:11 | 3109976 TheFourthStooge-ing
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.

Mon, 12/31/2012 - 15:20 | 3110025 toady
toady's picture

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

Mon, 12/31/2012 - 15:34 | 3110073 GMadScientist
GMadScientist's picture

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

Mon, 12/31/2012 - 14:59 | 3109894 slaughterer
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.  

Mon, 12/31/2012 - 15:00 | 3109917 DoChenRollingBearing
DoChenRollingBearing's picture

dupe, sorry

Mon, 12/31/2012 - 15:01 | 3109918 DoChenRollingBearing
DoChenRollingBearing's picture

You didn't write that post by yourself.

Mon, 12/31/2012 - 14:59 | 3109908 Cognitive Dissonance
Cognitive Dissonance's picture

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

Mon, 12/31/2012 - 15:02 | 3109929 Spastica Rex
Spastica Rex's picture

He meant "up."

Mon, 12/31/2012 - 15:35 | 3110074 GMadScientist
GMadScientist's picture

Consult Larry Craig for details.

Mon, 12/31/2012 - 17:14 | 3110517 Spastica Rex
Spastica Rex's picture

Lazy foot Larry!

/fomer Idahoian

Mon, 12/31/2012 - 14:59 | 3109909 devo
devo's picture

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

Mon, 12/31/2012 - 14:59 | 3109911 Boilermaker
Boilermaker's picture

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

RAM THAT SHIT!!!

Mon, 12/31/2012 - 15:06 | 3109948 Water Is Wet
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!

Mon, 12/31/2012 - 15:13 | 3109985 Boilermaker
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!!!

Mon, 12/31/2012 - 15:00 | 3109912 Freddie
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.

Mon, 12/31/2012 - 15:05 | 3109946 DoChenRollingBearing
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?

Mon, 12/31/2012 - 15:11 | 3109970 Ookspay
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.

Mon, 12/31/2012 - 15:19 | 3110023 Cloud9.5
Cloud9.5's picture

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

Mon, 12/31/2012 - 15:39 | 3110086 GMadScientist
GMadScientist's picture

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

 

 

Mon, 12/31/2012 - 15:01 | 3109915 Snakeeyes
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...

Mon, 12/31/2012 - 15:06 | 3109951 cliffynator
cliffynator's picture

Fiscal Cliffs of Insantity! (from Princess Bride)

 

I need to change my screen name...

Mon, 12/31/2012 - 15:16 | 3110004 Pool Shark
Pool Shark's picture

 

 

"A deal is NEAR."

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

 

Mon, 12/31/2012 - 15:01 | 3109919 Pool Shark
Pool Shark's picture

 

 

Sorry DJIA and NASDAQ;

NO 13k/3k FOR YOU!!!

[The Grinch came late this year...]

 

Mon, 12/31/2012 - 15:02 | 3109921 CrashisOptimistic
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.

Mon, 12/31/2012 - 15:22 | 3110033 Panafrican Funk...
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.  

Mon, 12/31/2012 - 15:02 | 3109924 gimli
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.

Mon, 12/31/2012 - 15:11 | 3109971 cliffynator
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...

Mon, 12/31/2012 - 15:13 | 3109988 gimli
gimli's picture

They were obviously his wife's servants

Mon, 12/31/2012 - 15:16 | 3109999 gimli
gimli's picture

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

Mon, 12/31/2012 - 15:18 | 3110011 gimli
gimli's picture

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

Mon, 12/31/2012 - 15:40 | 3110085 glenlloyd
glenlloyd's picture

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

Mon, 12/31/2012 - 15:02 | 3109927 Ookspay
Ookspay's picture

AU 2K!

Mon, 12/31/2012 - 15:03 | 3109931 XtraBullish
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.

Mon, 12/31/2012 - 15:11 | 3109975 Joe moneybags
Joe moneybags's picture

Xtra, turn off your bold italics.  Your comments are not one bit more interesting or insightful than any other.

Mon, 12/31/2012 - 15:15 | 3109994 Ralph Spoilsport
Ralph Spoilsport's picture

Neither are yours.

Mon, 12/31/2012 - 15:03 | 3109932 H E D G E H O G
H E D G E H O G's picture

SILVER IS ONLY UP  *FIVE HUNDRED EIGHTY FOUR PERCENT* SINCE 2002. just sayin.................................................what the fuck is in YOUR possession?

Mon, 12/31/2012 - 15:27 | 3110052 JP McManus
JP McManus's picture

I didn't start buying silver until 2003 :(

Mon, 12/31/2012 - 15:04 | 3109939 mutty
mutty's picture

His balance is balancingly balanced. I also enjoyed biological props and sycophantic audience of adoring fans. He has mastered the art of reality TV in his own balanced way.

Mon, 12/31/2012 - 15:08 | 3109957 busted by the b...
busted by the bailout's picture

I think the prez may have just blown the deal.

I doubt the House teapartiers are going to vote for any agreement knowing the spending cuts are going to be tied to MORE tax hikes / revenue enhancements in the new year. 

Looks like a major mistake to me.

I think we are making the dive -- the hard way now.

Mon, 12/31/2012 - 15:18 | 3110015 rubearish10
rubearish10's picture

You are correct sir. More circle jerkling to come!

Mon, 12/31/2012 - 15:19 | 3110024 Clowns on Acid
Clowns on Acid's picture

busted - Well said. Barry knows that he HAS to create a class warfare with his policies. If not, then his Alinsky plan falls down.

That is why he stuck his finger in the eye of REPS. Motivate his base (takers), forget about leading from a Presidential standpoint.

FORWARD ! bitchez....

Mon, 12/31/2012 - 15:09 | 3109958 Inthemix96
Inthemix96's picture

Anyone catch the fat fucker in blue behind the "O"?

More fucking chins than a chinese phone book

Mon, 12/31/2012 - 15:11 | 3109978 SheepDog-One
SheepDog-One's picture

Yea and she looked smug as hell too...I guess ObaMao didn't snatch the twinkie out of her hand and warn about 'obesity'? Huh....guess thats all just BS too.

Mon, 12/31/2012 - 15:13 | 3109959 Samsonov
Samsonov's picture

I turned on the tv and started watching Obama speak and then blacked out.  When I regained consciousness he was already gone.  I wonder what thoughts he implanted in my brain while I was in the coma.  

Mon, 12/31/2012 - 15:18 | 3110007 Ralph Spoilsport
Ralph Spoilsport's picture

"I wonder what thoughts he implanted in my brain while I was in the coma.  "

Unclean ones.

Mon, 12/31/2012 - 15:41 | 3110087 LFMayor
LFMayor's picture

"Brain implants"  uhhhh, yeah.  Tell me now, is your cornhole sore and your wallet empty?

Mon, 12/31/2012 - 15:10 | 3109967 SheepDog-One
SheepDog-One's picture

OK so now it's time to build up hope for the next speech!

Mon, 12/31/2012 - 15:10 | 3109974 Seasmoke
Seasmoke's picture

i dont understand his speech....he says he is saving middle class from tax cuts on only the 'millionaires' , but then goes on and says we will need much more revenue in other deals......WHERE FROM ?????

Mon, 12/31/2012 - 15:40 | 3110088 Loose Caboose
Loose Caboose's picture

Pennies ..... from heaven.

 

Mon, 12/31/2012 - 15:11 | 3109977 devo
devo's picture

So it sounds like the payroll tax cut is expiring and the Bush tax cuts will be extended. How exactly is that bullish?

Mon, 12/31/2012 - 15:49 | 3110125 GMadScientist
GMadScientist's picture

When your income doesn't come from a payroll.

Mon, 12/31/2012 - 15:13 | 3109986 Schmuck Raker
Schmuck Raker's picture

This is WAY better than the Chutes'N'Ladders game I got for Xmas!

Mon, 12/31/2012 - 15:32 | 3110065 Legolas
Legolas's picture

There's a new version of that game coming out tomorrow.  Bend over America.

Mon, 12/31/2012 - 15:14 | 3109991 IridiumRebel
IridiumRebel's picture

Party on you fuckin slaves! Where my Hypnotiq? Gots ta get my Fuq on! It New Yeerz Eve yo! Balance dat shit! I gon' be imbalanced by midnite!

/> I feel like everyone around me is getting dumber. I feel like I am just surrounded by stupid in America. The dumbing is working. Long Bitch Slapz.

Mon, 12/31/2012 - 15:29 | 3110055 Legolas
Legolas's picture

Probably from the Chemtrails.  I have a friend who has rode a Harley for many years.  He's not able to convey anything in a cogent manner any more.

Mon, 12/31/2012 - 15:48 | 3110120 GMadScientist
GMadScientist's picture

You're the source!

Mon, 12/31/2012 - 15:15 | 3109996 Joebloinvestor
Joebloinvestor's picture

You mean he didn't fill the speech with "I" or "Me"?

Mon, 12/31/2012 - 15:17 | 3110001 ZFiNX
ZFiNX's picture

The fact it is now being negotiated amongst senators in my opinion shows there isn't a single goddamn bill that's going to pass the house. The senate is going to reach a deal and when it doesn't pass the house, place the blame firmly on Boehner, the tea party, et al. Thus they have a scapegoat for all the misery that's about to follow. The tea partyers have made it clear there will be no compromise from them.

Mon, 12/31/2012 - 15:16 | 3110002 Ralph Spoilsport
Ralph Spoilsport's picture

I feel better after that. I watched the whole thing through the bottom of a shot glass.

Mon, 12/31/2012 - 15:18 | 3110016 Joebloinvestor
Joebloinvestor's picture

I think people are missing the point.

They obscure the top rate with "families making over $250k".

That my friends means JOINT TAX RETURN.

Individuals making over $125k are gonna get SCREWED.

Mon, 12/31/2012 - 18:58 | 3110857 Joebloinvestor
Joebloinvestor's picture

Newest rumor is $450k individual, $450k filing jointly.

Rush is on to divorce court.

Mon, 12/31/2012 - 15:19 | 3110019 Meatballs
Meatballs's picture

Who here could have said it better than this?

"President Obama announces the bullshit is in sight, but the bullshitters are still bullshitting in the bullshit room. However a bullshit deal should be reached soon."

-Opinionated Democrat

Mon, 12/31/2012 - 15:18 | 3110020 SheepDog-One
SheepDog-One's picture

Just got to get through today and tomorrow....they haven't got jack shit and want to go over the cliff.

Mon, 12/31/2012 - 15:21 | 3110030 vegas
vegas's picture

He spoke ..... BFD. Remember, Freedom means NEVER having to listen to anything Chalky Soetero ever says.

Mon, 12/31/2012 - 15:43 | 3110097 lakecity55
lakecity55's picture

Chalky.

+100

But the Chalky character actually has some values and a code, unlike Khardashian.

Mon, 12/31/2012 - 15:23 | 3110036 SheepDog-One
SheepDog-One's picture

We're 'balanced' firmly in a depression....gee thats swell.

Mon, 12/31/2012 - 15:26 | 3110047 Didn't build that
Didn't build that's picture

This is sickening, the hopium pump of equities day after day on worsening fiscal situation. Somehow bad news is always priced in.

When will people realize that there is *No* deal on the table, there is only guaranteed pain through higher taxes and runaway inflation. 

Mon, 12/31/2012 - 15:33 | 3110067 buzzsaw99
buzzsaw99's picture

the number is meaningless. piss poor volume for the last two years and this time of year it is even worse

Mon, 12/31/2012 - 15:30 | 3110056 Rick Blaine
Rick Blaine's picture

b-b-b-b-b-but we can't go over the cliff!!!!!

Must...keep...printing...money...

Mon, 12/31/2012 - 15:30 | 3110058 q99x2
q99x2's picture

We did it. Dow 13,000. Happy New Year.

Mon, 12/31/2012 - 15:42 | 3110094 Obchelli
Obchelli's picture

And market keeps moving higher crashing the VIX. Is this invisible hand of chairsatan?

Mon, 12/31/2012 - 15:45 | 3110106 Boilermaker
Boilermaker's picture

DOW 13,000...

PHEW...that's great.  I thought we had a fucking problem.

Now, let's break out the noise makers and party favors and ring in the wonderful new year!!!

Mon, 12/31/2012 - 15:46 | 3110112 lakecity55
lakecity55's picture

So.... I did not understand the purpose of the speech.

Oh, wait, it was a campaign speech!

Now I get it.

Tools.

Mon, 12/31/2012 - 15:48 | 3110123 Loose Caboose
Loose Caboose's picture

Television - off.  Critical thinking skills - on.  The big talking screen is our Soma.  I don't want to watch anymore of this.  It's making me stupid and filling me with rage.  This is all a farce.  There is no cliff.  There is no debt.  There is no Easter Bunny.  Jury's still out on Santa.

Happy New Year ZH.

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