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Obama Said No Deal, McConnell Denies, Says "Agreement Reached On All Tax Issues"

Tyler Durden's picture




 

Just when one thought the posturing couldn't hit more ridiculous levels, here comes GOP Senator Mitch McConnell refuting what the president said, refuting the supposed GOP revulsion to the president's prior statement, and stating that there is actually a deal, although if there actually was a deal, there would be voting going on right now, and passing it, instead of endless useless speeches meant simply to ramp headline scanning algos higher:

  • MCCONNELL SAYS AGREEMENT REACHED ON ALL TAX ISSUES
  • MCCONNELL SAYS `WE'RE VERY, VERY CLOSE TO AN AGREEMENT'
  • MCCONNELL SAYS HE REACHED OUT TO BIDEN TO SOLVE FISCAL CLIFF
  • SEN. MCCONNELL SAYS `LET'S PASS THE TAX RELIEF PORTION NOW'

So if agreement on tax issues, what is there disagreement on? Oh yes, there is no agreement on the spending side, but who needs details.

And while everyone follows their talking points, and is taking the charade to unseen before heights, nobody has voted on anything yet, and nothing has actually passed Congress. But once again, the algos seem to like it, for now, and are taking the market on yet another stop run higher.

 

Let's see if this can break now that ES VWAP is up to yesterday's...

 

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Mon, 12/31/2012 - 15:58 | 3110150 Dan The Man
Dan The Man's picture

the bernanke gave them permission to go over the cliff...that's what will happen

Mon, 12/31/2012 - 16:02 | 3110168 Renewable Life
Renewable Life's picture

These GOP amateurs!!!

Don't they realize, this is a set up??? Obama doesn't want us going over the cliff, HE NEEDS IT!!

It's all symatics at this point, we go over, all the taxes go up, the people scream, Obama's boys come to the rescue after Jan 20th, and they call this "saving", the Obsma tax cuts, NOT the Bush tax cuts anymore!!

He's counting on the house voting this down, that's the script!!

Mon, 12/31/2012 - 16:12 | 3110218 davidsmith
davidsmith's picture

No no, this is a mistake.  They're just doing their job: they keep probing the Tea Party House Republicans, to make sure they are remaining united and understanding where this is taking them.  Both McConnell and Obama are backing away from this freight train authoritarian regime. 

 

So far, in spite of repeated probings and blandishments, Tea Party House Republicans are not compromising in the least.  I would be very surprised if they are responding to Boehner in any way. 

Mon, 12/31/2012 - 16:15 | 3110229 Michaelwiseguy
Michaelwiseguy's picture

+ Hopeless for a signed, sealed, and delivered fiscal cliff deal before Midnight? 

- Hopeful for a signed, sealed, and delivered fiscal cliff deal before Midnight?

Which is it?

Mon, 12/31/2012 - 16:28 | 3110269 barliman
barliman's picture

+ All statements being made to generate market ramp into close for End Of Quarter window dressing

- Only CNBC talking heads are politically and economically stupid enough to not be able to recognize Kabuki theater when they see it?

Paul Krugman is obviously more inept than the CNBC talking heads ... but why muddy the waters?

Mon, 12/31/2012 - 16:54 | 3110407 Snakeeyes
Snakeeyes's picture

Here is the latest tax deal.

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

 

 

According to a senior staff member for Republicans, here is the package of taxes that have been agreed to:

— Current tax rates would be permanently extended for singles making $400,000 or below, and permanently extended for couples making $450,000 or below

— For singles, capital gains and dividends of $400,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $400,000 would be permanently taxed at 20 percent

— For couples, capital gains and dividends of $450,000 or below would be permanently taxed at 15 percent; capital gains and dividends above $450,000 would be taxed at 20 percent

— The Alternative Minimum Tax would be permanently patched

— Estates over $5 million would be taxed at 40 percent, and that tax rate would be permanently extended

 

Mon, 12/31/2012 - 16:53 | 3110408 Jack Napier
Jack Napier's picture

Backing away from this freight train? Is that why he passed an Executive Order for Congressional pay raises?

Mon, 12/31/2012 - 16:26 | 3110261 GMadScientist
GMadScientist's picture

Yup, still full-bore in "shoot the hostages" mode.

Nice of you guys to visit.

Mon, 12/31/2012 - 17:08 | 3110474 sessinpo
sessinpo's picture

Renewable Life:   "!Obama doesn't want us going over the cliff, HE NEEDS IT!!"

 

That statement contradicts itself. However, I understand what you MEANT to say, and you are correct, except that what Obama is doing is only PERCEPTION. There is no SAVING of anyone.

Mon, 12/31/2012 - 16:03 | 3110169 Renewable Life
Renewable Life's picture

Damn double posts!

Mon, 12/31/2012 - 16:04 | 3110173 Stackers
Stackers's picture

I thought I was a bad procrastinator .... how many months have these guys had to get this worked out ???

Mon, 12/31/2012 - 16:12 | 3110223 Jena
Jena's picture

How many years, you mean?

Mon, 12/31/2012 - 16:14 | 3110228 The trend is yo...
The trend is your friend's picture

Stacker,

Not worked out....Positioned for the 2013 early bonus in thier options account

Mon, 12/31/2012 - 16:21 | 3110248 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Intentional.  They know that if they are there late this evening, they can get loaded on the super-fancy Gubmint liquor, on the House.

Mon, 12/31/2012 - 16:45 | 3110328 DaveyJones
DaveyJones's picture

Yes, it is ironic that their constituents have "reached agreements" on a number of fronts:

They are all incompetent

They are all liars

They are all whores

They have no interest in American Citizens

They have no intestest in Constitutional principles

They are the result of our Supreme Court "officially" assigning them international corporate pimps

They must be prosecuted

They must be replaced 

Mon, 12/31/2012 - 16:09 | 3110207 The trend is yo...
The trend is your friend's picture

Mcconnell was apparantly spx call heavy and had to close his positions

Mon, 12/31/2012 - 17:33 | 3110612 ball-and-chain
ball-and-chain's picture

This has nothng to do with Republicans or Democrats.

It comes down to Wall Street and London.

The tail is wagging the dog.

The money men don't want to go over the cliff.

They own the politicians.

Figure it out.

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

Mon, 12/31/2012 - 15:59 | 3110152 Spitzer
Spitzer's picture

fckkk what a joke

Mon, 12/31/2012 - 16:10 | 3110210 magpie
magpie's picture

long euro

Mon, 12/31/2012 - 16:30 | 3110277 rwe2late
rwe2late's picture

no joke

the deal appears to be to have no deal.

at least until a concocted "shock doctrine" crisis can facilitate an "emergency" rescue even more advantageous for TPTB.

Mon, 12/31/2012 - 15:59 | 3110156 Boilermaker
Boilermaker's picture

SPX 20 handles....

DO I HEAR 40?

DO I HEAR 50?

RUT up even more.

SURPRISE!!!  THEY DID IT AGAIN!!!

Mon, 12/31/2012 - 16:02 | 3110163 fonzannoon
fonzannoon's picture

Dow up 875 points to just nip out gold.

Any republicans left out there? How's your fiscal conservative party working out for you? Spending cuts? Nah...Fuck off!

Mon, 12/31/2012 - 16:08 | 3110194 Everybodys All ...
Everybodys All American's picture

McDummy does not speak for the House.

Mon, 12/31/2012 - 16:19 | 3110222 fonzannoon
fonzannoon's picture

They will fold. They always do. Just give us some tanks in the street talk.

Mon, 12/31/2012 - 16:01 | 3110157 Boilermaker
Boilermaker's picture

OMFG, LOOK AT HER FLY!!!!

IT'S A NEW YEARS EVE MIRACLE!!!

WHO WOULD HAVE GUESSED IT?!?!?

Mon, 12/31/2012 - 16:05 | 3110180 ShrNfr
ShrNfr's picture

Err, anybody that knows that the fees due are based on the end of the mark to market value of the portfolio at the end of the quarter? Oh sorry, that would be dishonest now. I mean you would be transfering the customer's money to your pocket by using the customers money to pump up the prices.

Mon, 12/31/2012 - 16:07 | 3110193 Boilermaker
Boilermaker's picture

I remember reading about that in last month's edition of "WHO GIVES A FUCK".

Now RAMP RAMP RAMP RAMP....SMACK IT UP...FLIP IT...RUB IT DOWN!!!!!

STAWKS ARE BOOMING!!!!

Mon, 12/31/2012 - 16:09 | 3110209 Taterboy
Taterboy's picture

Obama doesn't want the stock market to go down. The only thing he ever liked to see go down was old white men at Man's Country.

Mon, 12/31/2012 - 16:11 | 3110214 Boilermaker
Boilermaker's picture

WAIT?!?!

ARE YOU SAYING THIS IS RIGGED?

Mon, 12/31/2012 - 16:19 | 3110238 Joe moneybags
Joe moneybags's picture

Turn off the caps, BoilerShouter.  Your posts are just noise.

Mon, 12/31/2012 - 16:32 | 3110274 Anglo Hondo
Anglo Hondo's picture

 

Wait?!?!

Are you sayint you just arrived from way out there in the Universe?

Right!!!

(Edited for Caps)

 

Mon, 12/31/2012 - 16:01 | 3110160 ekm
ekm's picture

Dark Pools;

MS sells to BAC, BAC sells to C, C sells to MS.

 

There's plenty of money sloshing around as reserves.

Mon, 12/31/2012 - 16:03 | 3110165 Beam Me Up Scotty
Beam Me Up Scotty's picture

SPEND, SPEND, SPEND!!!  Because it feels so GOOD!!

Mon, 12/31/2012 - 16:04 | 3110166 khakuda
khakuda's picture

Once again, government has voted to continue growing.  More taxes and printed money to pay the bills, no spending cuts.  Who is surprised by this?

Mon, 12/31/2012 - 16:07 | 3110198 Bollixed
Bollixed's picture

I've never seen a weed commit suicide...

Mon, 12/31/2012 - 16:26 | 3110263 khakuda
khakuda's picture

Great analogy.  They just strangle all the useful plants, fruits and vegetables until people get off their butts to remove them.  The country has lost vigilance and it feels like we are on the cusp of yet another jump in government growth, financed by higher taxes, accelerating borrowing, the failure to reduce spending and a complicit, money printing Fed.

Mon, 12/31/2012 - 16:03 | 3110170 Snakeeyes
Snakeeyes's picture

Obama is like Lucy pulling the football away from McConnell (Charlie Brown). What a joke these politicians are.

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

Mon, 12/31/2012 - 16:04 | 3110174 OldE_Ant
OldE_Ant's picture

insert right hand into right pocket. 

Cue Boehner UP!

Mon, 12/31/2012 - 16:07 | 3110192 Beam Me Up Scotty
Beam Me Up Scotty's picture

insert righthand up Boehners ass.

Cue Boehner UP!

 

Fixed it for you.

Mon, 12/31/2012 - 16:13 | 3110225 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

insert righthand up Boehners ass.

Cue Boehner UP!

Bhoaner - the Diddle Me Elmo of Capitol Hill.

Mon, 12/31/2012 - 16:28 | 3110265 Renewable Life
Renewable Life's picture

If he does it, cue up Speaker of the House Paul Ryan, because Boner will be a politically dead motherfucka!!!

Mon, 12/31/2012 - 16:44 | 3110360 NotApplicable
NotApplicable's picture

What's your opinion of the upcoming WWE matches?

Mon, 12/31/2012 - 16:03 | 3110175 Zer0head
Zer0head's picture

frontrunning when I say no deal BTFD BTFD

(the signal was the jovial upbeat mood of Obama and all of  the partisans who attended his speech)

Seriously the congressional insiders who can frontrun with impunity are milking this for all they can get

Mon, 12/31/2012 - 16:04 | 3110176 davidsmith
davidsmith's picture

Very much like the finance bill shenanigans which scuttled the Weimar Republic.  In the end, it all ends with a failure to agree on a financing provision.  In the Weimar case, the differences were also vanishingly small.  However, the sequester issue seems to be the smokescreen behind which the Tea Party Republicans are hiding.  It appears right now that they are holding.  It's now or never for them.  One more compromise and they are finished, whereas if they hold the line they can overthrow the government.  It all depends on what the oligarchs feel is in store for the economy.  I suspect they smell disaster, and want state-sanctioned cartels.  If we go over the cliff, it is a HUGE Tea Party victory and the political system will crumble.

Mon, 12/31/2012 - 16:11 | 3110216 ghostfaceinvestah
ghostfaceinvestah's picture

Great analysis.  This is the Tea Party's moment of truth.  If they crumble on spending cuts, they are finished, and we will likely see a third party arise.

Mon, 12/31/2012 - 16:16 | 3110231 davidsmith
davidsmith's picture

So far, dead silence from the Tea Party House Republicans.  My sense is that there is now planning for the next stage of the coup.  Obama can only declare a national economic emergency BEFORE a vote on the debt ceiling.  If Tea Party House Republicans don't cave now, they won't cave on the debt ceiling, claiming that the ceiling can't be raised until the tax and spend issues are resolve.  That freezes the political system.  If Obama tries a declaration of economic emergency after a failure to raise the debt ceiling, Tea Party House Republicans will claim it breaks the Constitution.  I suspect they will do something dramatic like walk out of the Capitol and refuse to come back.  Since Boehner is required to stick to his "majority of the majority," nothing will move in Congress.  Then the call for tax and other strikes will begin.

Mon, 12/31/2012 - 16:21 | 3110247 Beam Me Up Scotty
Beam Me Up Scotty's picture

This is about the time Senator Palpatine becomes Emperor Palpatine.

Mon, 12/31/2012 - 17:11 | 3110494 sessinpo
sessinpo's picture

Moment of truth? Only in the political, non violence sense, which they have demostrated. The real political truth is when they take arms. Hence the movement to disarm Americans.

Mon, 12/31/2012 - 16:07 | 3110182 muppet_master
muppet_master's picture

SHORTED spx @ 1419

just ADDED @ 1424...didn't short in the morning (@ 1398)....was sleeping.

come on bQE i know your under monkey order (QEorganizer) to ramp up his ponzi house of cards casino...

major sell-off on the news on Wed-Fri......spx below 1350....

not a stupid daytrader.....will ride and cover on a maaaaAAAJOR sell-offS. stupid bQE if you pump up spx to 1430, my avg short price = 1425...will cover @ sub 1350..thanks !!

Mon, 12/31/2012 - 16:05 | 3110184 ptoemmes
ptoemmes's picture

I posted this yesterday 

"

Wait until they all scramble to the mics and cameras proclaiming how they came together to save America....and the gutless reporters and pundits will all nod in awe. I figure before 3:00PM tomorrow to ramp the markets. You know it's gonna happen but you are powerless to stop it.

Unless I'm (hopefully) wrong.

"

 

I am really not that smart..it's just they are so predictable.

Mon, 12/31/2012 - 16:05 | 3110185 Backdraft
Backdraft's picture

bunch of primates having intercourse with a pigskin.........what a magnifcent cluster fuck.

Mon, 12/31/2012 - 16:23 | 3110254 Seasmoke
Seasmoke's picture

That's the NFL Playoffs.

Mon, 12/31/2012 - 16:30 | 3110283 GMadScientist
GMadScientist's picture

TMI: Bohemian Grove Edition

Mon, 12/31/2012 - 16:06 | 3110188 crawl
crawl's picture

Yup, all talk and the algos love it.  Who needs to write bills and pass votes when you can take the easy way out and just talk it?

The politicians better deliver what the market demands.  Or else.

Mon, 12/31/2012 - 16:09 | 3110204 davidsmith
davidsmith's picture

The meaning of McConnell's remarks just now is that the Tea Party Republicans are holding firm.  Whatever those secret meetings were, they ended in a conclusion to junk the system.  Which is not surprising: the Tea Party was going down in flames.  This is absolutely their last chance.  Out of desperation comes resolve....

Mon, 12/31/2012 - 16:13 | 3110226 fonzannoon
fonzannoon's picture

The tea party had their chance in 2011. They folded like a cheap suit when it came down to it. Sayanora.

Mon, 12/31/2012 - 16:20 | 3110242 davidsmith
davidsmith's picture

Mmmm, not necessarily.  Adversity concentrates minds.  Remember what happened to the Nazis during the last Weimar election.  They LOST support, and quite significantly.  A few months later, Hitler was Chancellor.  It all depends on whether they can freeze the democratic system.  If they can do that, if they can stop Federal legislating, period, then it doesn't matter whether they are losing support.  LOTS of authoritarian regimes come to power as minorities, even as declining minorities.  But this does appear to be their last iron in the fire.  I cannot imagine why they would cave in now, which is why it seems they are not caving in.

 

I think from now on you should regard McConnell and Boehner as simply agents of the Tea Party House Republicans.  They are taking orders from the Tea Party, not giving orders.  That's the difference from 2011.  It appears the oligarchs are preparing a big move.

Mon, 12/31/2012 - 16:27 | 3110256 Zer0head
Zer0head's picture

I suspect Fonz is correct, besides Rhinos + Dems = approval of whatever Reid and Mccon come up with and Boner falls on his  sword waiting for the promised appointment from Obama

 

as for the idea that Mc and Bone "are taking orders from the Tea Party, not giving orders."

 

nice thought but I think that is desparate thinking  hopefully I am wrong 

Mon, 12/31/2012 - 16:25 | 3110257 ghostfaceinvestah
ghostfaceinvestah's picture

Disagree.  The Tea Party kicked the can in 2011 until right now.  Today.  The sequestration was their plan, as a negotiating tool.  But if they agree to any agreement on tax hikes on anyone without substantial spending cuts, they are done.

Mon, 12/31/2012 - 16:29 | 3110275 fonzannoon
fonzannoon's picture

They had one shot with everyone caring about the debt ceiling and they caved. Now everyone thinks the debt ceiling is just an inconvenience that can be fixed by raising it. Even if they hold the line now Obama will raise the debt ceiling by executive order with the sheep cheering him on.

Mon, 12/31/2012 - 16:36 | 3110324 ekm
ekm's picture

He's been ruling by executive orders. That part of the law is quite blurry as far as I read.

If he rules that he can raise the ceiling, he could be going against the constitution quite openly since that part belongs exclusively to the house.

Not a constitutional lawyer, but if he goes ahead with that order, impeachment could happen.

Mon, 12/31/2012 - 16:40 | 3110346 fonzannoon
fonzannoon's picture

Impeachment by whom? Donald Trump? O is the best thing to happen to wall street and the banks since George Jr. who was the best thing since Clinton, who was the best thing since......

Just promise everyone everything and it will all work out.

Now if you don't mind we all have to concentrate on spiking the market and tanking gold into the close.

Mon, 12/31/2012 - 17:01 | 3110435 ekm
ekm's picture

No objections.

Good points.

Mon, 12/31/2012 - 16:42 | 3110348 fonzannoon
fonzannoon's picture

.

Mon, 12/31/2012 - 16:31 | 3110298 FinalCollapse
FinalCollapse's picture

Well - maybe they can pass the legislation without the TP votes?

Mon, 12/31/2012 - 16:32 | 3110295 NotApplicable
NotApplicable's picture

You need to stop confusing individuals with abstract collectives that they latch on to. Your statement is nothing but an absurdity as a result.

 

Mon, 12/31/2012 - 16:28 | 3110270 Lewshine
Lewshine's picture

OR ELSE??? BWAHAHAHAHAHAHA...Or else what??? We get another 500 point rally?? Or else you'll be left in disbelief for the 300th time this year (2012). Problem is, they keep doing the same thing and EVERYONE keeps thinking we will get a different outcome!

Tyler posted the market can't fall because of all the sideline money is in, on huge leverage, no selling will take place till Ben says so...And that ain't now.

Mon, 12/31/2012 - 16:10 | 3110191 LouisDega
Mon, 12/31/2012 - 17:24 | 3110525 WmMcK
WmMcK's picture

One of the last men to hand out $500 bills ...

 

And I'll take Monte's cookie jar instead (behind Door #3)

Mon, 12/31/2012 - 16:08 | 3110195 catacl1sm
catacl1sm's picture

Whee!!!

Mon, 12/31/2012 - 16:08 | 3110199 eatthebanksters
eatthebanksters's picture

Where is the anger? People must be saving it up for when the shit actually hits the fan.

Mon, 12/31/2012 - 16:33 | 3110305 GMadScientist
GMadScientist's picture

Wait until the meds stop flowing.

Mon, 12/31/2012 - 16:08 | 3110201 BlueStreet
BlueStreet's picture

There goes the eggnog budget for tonight.  

Mon, 12/31/2012 - 16:09 | 3110202 inevitablecollapse
inevitablecollapse's picture

what.the.fuck

Mon, 12/31/2012 - 16:09 | 3110205 Kaiser Sousa
Kaiser Sousa's picture

DOW 36,000!!!!!

"MONDAY, TUESDAY HAPPY DAYS!!!!!!!"

"O'BAMA GO'N PAY MY MORTGAGE!!!!!"

 

buy all the physical Gold and Silver you can Bitchez.......................

 

Mon, 12/31/2012 - 16:09 | 3110208 debtor of last ...
debtor of last resort's picture

Seems they have learned a lot from Europe. But they could do better in my opinion. Ponzi-pussies.

Mon, 12/31/2012 - 16:11 | 3110211 mammoth mo
mammoth mo's picture

What you have here is this.

Obama says we are close.  Which means the Republicans won't give in just a little to save America.

McConnels says we have a deal.  Which means the Democrats won't give in to save America.

 

This is face saving 101.  When the right person says something then we will have a deal.  Who is that person....  The person who will use this as a spring board to running for President in 2016.

 

 

Mon, 12/31/2012 - 16:11 | 3110213 SmoothCoolSmoke
SmoothCoolSmoke's picture

Face facts boys:  Can kicking works.  Hate it if you must....but it works.

Greece, Italy, Spain, Portugal, Ireland........  and the best evidence of all?

JAPAN.

How long has the Japanese Govt been kicking the can?  20 years!?!?!  OMG....don't all the Japanese people get tired of living in cardboard boxes and eating gruel?

Huh?  Whadda ya mean they don't have to live in cardboard......?????

Exactly.

But SOMEDAY, you say.  Uh-huh....the someday that never comes. 

 

 

Mon, 12/31/2012 - 16:20 | 3110240 abgary1
abgary1's picture

That someday has arrived for the Yen.

Mon, 12/31/2012 - 16:24 | 3110255 SmoothCoolSmoke
SmoothCoolSmoke's picture

Yet the Japanese people continue to have one of the highest standards of living in the world.

Mon, 12/31/2012 - 17:13 | 3110510 DosZap
DosZap's picture

Yet the Japanese people continue to have one of the highest standards of living in the world.

Yep, because they allow no immigration to speak of.

Mon, 12/31/2012 - 16:34 | 3110315 GMadScientist
GMadScientist's picture

"As long as I can still reach my dealer, it's really cool!" - River Phoenix

Mon, 12/31/2012 - 18:54 | 3110848 abgary1
abgary1's picture

Not for long. A devalued Yen and inflation will take care of that.

Mon, 12/31/2012 - 16:11 | 3110215 ptoemmes
ptoemmes's picture

The Senate - AND THE HOUSE - have to vote on whatever this is...not going to happen by 4:00PM ET so in case it does not pass one or the other....

Mon, 12/31/2012 - 16:11 | 3110221 yogibear
yogibear's picture

Easy to figure out. Traders and fund managers want to finish out the year up.

There was only a 100% chance of that happening. No real solution to the debt.

Lipstick on the pig again. Time for a big kiss people, the pig (deficit) looks much more attractive now,

 

 

Mon, 12/31/2012 - 16:15 | 3110224 mammoth mo
mammoth mo's picture

Meanwhile with less than 50 minutes left in the trading session the dow has killed the vix on nothing.

Two statements that at best were not needed.  At worst they were market manipulation.

 

Note how the Dow has gone up and down but the vix has gone straight down.

 

http://www.marketwatch.com/investing/index/VIX

 

http://www.marketwatch.com/investing/index/DJIA

Mon, 12/31/2012 - 16:14 | 3110227 AssFire
AssFire's picture

Banana Republic

Mon, 12/31/2012 - 16:14 | 3110230 max2205
max2205's picture

Tna on all swing made you $15k on a $60k per trade.   Thanks dopes in congresss 

Mon, 12/31/2012 - 16:17 | 3110235 you enjoy myself
you enjoy myself's picture

the best part?  this all gets repeated 6-8 weeks from now, and that too will likely be some cobbled, last-minute, stop-gap, partial solution.  this is like watching a legislative adaption of '24' - i'm perversely enjoying it.  maybe when CSPAN shows the last day of negotiations before we hit the debt limit they can have Boehner, McConnell, Reid, and Obama shots in every quadrant of the screen, and their calls back and forth use the CTU ringtone.

Mon, 12/31/2012 - 16:22 | 3110250 SheepDog-One
SheepDog-One's picture

That's how the USA runs now...from 1 emergency to the next, bad news is good news, avg. it and divide by Pi, and good enough for another +300 point market ramp every time!

 

Mon, 12/31/2012 - 16:18 | 3110237 Seasmoke
Seasmoke's picture

Yes 2 + 2 = 5

Just make it stop !!!!!!

Mon, 12/31/2012 - 16:19 | 3110239 pragmatic hobo
pragmatic hobo's picture

HLF up 11%

Mon, 12/31/2012 - 16:21 | 3110243 SheepDog-One
SheepDog-One's picture

We're just thiiiiiis close! Just one tiiiiiiny vote away!

SAME. OLD. SHIT.

Mon, 12/31/2012 - 16:21 | 3110244 zebrasquid
zebrasquid's picture

What's the name of that snake that eats its own tail until it disappears?

Mon, 12/31/2012 - 16:23 | 3110253 SheepDog-One
SheepDog-One's picture

Oroborus.

Mon, 12/31/2012 - 16:29 | 3110271 zebrasquid
zebrasquid's picture

We need to change the flag from stars and stripes to that snake...

Mon, 12/31/2012 - 16:23 | 3110251 ZFiNX
ZFiNX's picture

What the algos giveth, they can taketh away.

Mon, 12/31/2012 - 16:25 | 3110258 ZFiNX
ZFiNX's picture

Has anyone done any calculus on just how much this market is being supported by the fed?

Mon, 12/31/2012 - 16:27 | 3110264 SheepDog-One
SheepDog-One's picture

My calculations keep coming to '100%'

Mon, 12/31/2012 - 16:29 | 3110278 GMadScientist
GMadScientist's picture

Would you like that in percentages or in trillions?

Mon, 12/31/2012 - 16:28 | 3110266 Joe moneybags
Joe moneybags's picture

The senate R's have been completely out-foxed.  They are agreeing to NO spending cuts, a slight tax rise, and are putting the conservative House R's in the doghouse. The final result:  Tax and spending for ever and ever, amen.

Mon, 12/31/2012 - 16:29 | 3110273 GMadScientist
GMadScientist's picture

Outfoxed?! LOL

They played their parts marvelously...supporting actors, but actors just the same!

Mon, 12/31/2012 - 16:40 | 3110343 NotApplicable
NotApplicable's picture

It boggles the mind to realize how much suspension of belief has to occur for people to continue to play along with this script.

Of course, once the world felt the need to deal with the "Dumbledore is gay" controversy, well, I can no longer express surprise at this outcome.

As always, I blame all of this on the Teletubbies.

Damn you Tinky-Winky!

Mon, 12/31/2012 - 16:28 | 3110267 GMadScientist
GMadScientist's picture

Right up to the trading range from before xmas then back...c'mon lemmings, these bags won't hold themselves!

Mon, 12/31/2012 - 16:37 | 3110281 devo
devo's picture

Flash crash alert.

Scratch that: full bull ahead!

Mon, 12/31/2012 - 16:34 | 3110290 Joe moneybags
Joe moneybags's picture

Mitch McConnell is the Neville Chamberlain "Peace in our time" Appeaser Pussy of the Year.

Mon, 12/31/2012 - 16:35 | 3110317 FinalCollapse
FinalCollapse's picture

The good or fake news are being Fed to algos and the bad news are RonPaul-ed.

Mon, 12/31/2012 - 16:40 | 3110338 Disenchanted
Disenchanted's picture

 

 

 

Hey Mitch, take that bankster cock out of your mouth so I can understand what you are saying.

 

On second thought, never mind.

Mon, 12/31/2012 - 16:40 | 3110344 q99x2
q99x2's picture

McConnell is a politician isn't he. Then he is lying.

Mon, 12/31/2012 - 16:40 | 3110345 ekm
ekm's picture

I've been saying since 2011 Nov global bailout: The exchanges will be going bankrupt.

NYSE went already bankrupt, nasdaq and cme are next.

 

Reason:

When there are no stocks avaialable for trading, just little crums here and there, all that money created by the Fed will be fighting over crums like hienas in winter.

Mon, 12/31/2012 - 17:44 | 3110651 Everybodys All ...
Everybodys All American's picture

I think you are right. Trading is way down on all trading desks. Way down. Retail is virtually non existant.

Mon, 12/31/2012 - 16:48 | 3110383 Benjamin Glutton
Benjamin Glutton's picture

Bungee jump bitchez!!!

Mon, 12/31/2012 - 16:52 | 3110400 The Heart
The Heart's picture

A...B...C...1...2...3...easy as can be...takes no degree.

For those that are mentally incapable of understanding the Way to save the day, your future, and your chuildrens futures, all ye has to do is follow the leader. Easy peazy!

The pattern template to save America is right here:

http://au.news.yahoo.com/world/a/-/world/15732202/executives-at-collapse...

.

 

 

Mon, 12/31/2012 - 18:40 | 3110818 Hubbs
Hubbs's picture

Huh? Icelandic bankers get 5 months plus  two years time already served? It seems crime does pay.

Mon, 12/31/2012 - 17:22 | 3110543 ZFiNX
ZFiNX's picture

No vote in the house tonight... shocking.. shocking.. I tell you

For some reason the soundtrack of '300' just came on in my head.

Mon, 12/31/2012 - 17:40 | 3110636 sbenard
sbenard's picture

Good luck, Mr. McConnell, getting that "deal" passed in the House and Senate.

Mon, 12/31/2012 - 18:55 | 3110850 Hubbs
Hubbs's picture

The way this stock market see sawing to shave slice by slice the remaining wealth of private retail equity investors is identical to the explanation my divorce lawyer gave me when I asked him how long the divorce action will go on:  "Until the money runs out!"

 

Like that rant Dillon Ratigan had on Fox a few years ago after he left CNBC:  The Wall Street-Corporate- FED- Political = facism2  power complex is about THE EXTRACTION.

The extraction of the last remnant of wealth and assets from the lower 99%.

http://www.youtube.com/watch?v=CYpSka2ZhPo

Mon, 12/31/2012 - 19:20 | 3110936 Fix It Again Timmy
Fix It Again Timmy's picture

100 Senators replaced by 100 Sea Cucumbers - budget deal passes, 1st budget in 3 years is drawn up, effective legislation [first time in 50 years] is being drafted.  Damn, it was all about getting intelligent life forms in the Senate....

Mon, 12/31/2012 - 21:42 | 3111245 WhiteNight123129
WhiteNight123129's picture

I don´t watch Argentina´s politics either...

 

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