This page has been archived and commenting is disabled.

Senate Deal "Apparently Short Of Needed Support"

Tyler Durden's picture


Update: U.S. Senate will attempt to vote on fiscal cliff Monday night, but still work to be done - Sen. Kyl. So the deal is done, but there is "hope" it passes. Should be good for another 10 ES points.

* * *

Everyone's worst nightmare has come true: the endless Greek bailout has now shifted to D.C., where deals are leaked, rumored, preannounced, and priced in, long before they are discovered to never have been there in the first place. The winners, as in Europe: hedge funds, and caterers. Everyone else is a bystanding loser.

From Reuters:

Skeptical U.S. Senate Democrats requested a meeting on Monday with Vice President Joe Biden about the tentative deal on the "fiscal cliff" that he is forging with Senate Republican leader Mitch McConnell, a Democratic Senate aide said.


With the deal apparently short of needed support, Democrats are hopeful that Biden will meet with them, but have not yet received a commitment, the aide said. Some Democrats complain that Biden went too far to find common ground with McConnell. Congress and the White House face a midnight deadline (0500 GMT Tuesday) to avert the fiscal cliff of tax hikes and spending cuts.

And now we look forward to tonight's Senate vote on the deal which "passed"... It passed right? The market said so.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 12/31/2012 - 18:50 | 3110832 lolmao500
lolmao500's picture

Turtle head McConnell needs to be made into soup.

Mon, 12/31/2012 - 18:54 | 3110845 ball-and-chain
ball-and-chain's picture

McConnel's a terd.  I agree.

But we should go over the cliff.

We need to get the ticks (Wall Street, London) off our backs.

It'll be painful.  But such is life.

Mon, 12/31/2012 - 18:58 | 3110860 maxmad
maxmad's picture

And over the cliff we go....

Mon, 12/31/2012 - 19:06 | 3110883 maxmad
maxmad's picture

This is the doom you are looking for....

Mon, 12/31/2012 - 19:17 | 3110919 SafelyGraze
SafelyGraze's picture

the best part of kotus talking to supporters as the bit about shrinking the debt while expanding the economy

which in the nunormal means expanding the debt while shrinking the economy

and they said it couldn't be done!

Mon, 12/31/2012 - 21:01 | 3111143 Michaelwiseguy
Michaelwiseguy's picture

Every time I hear Senator Rand Paul I think to myself, Oh my poor dear boy, God Love him, Do you not know what the game plan and end game is?

123112 - Sen. Rand Paul speaks on fiscal cliff negotiations

Mon, 12/31/2012 - 21:24 | 3111214 infinity8
infinity8's picture

"God bless his heart" -Nana.

*same Nana that said "who's tryin' to break my balls?" if the phone rang during Magnum, P.I. and "don't try to psychologize me".

Mon, 12/31/2012 - 20:44 | 3111146 TheFourthStooge-ing
TheFourthStooge-ing's picture


This is the doom you are looking for....

They did it for the lulz....

Mon, 12/31/2012 - 19:09 | 3110884 knukles
knukles's picture

Well fuck me with a stick... And all along I thought it was the Tea Partiers in the House who were holding the whole thing up.
Man, so we got some recalcitrant commies on the left facing off against the unrepentant libertarians on the right (or whatever the who they the we and them be these days....)

And I thought that Democrats were so amenable to bipartisanship....


(Don't shoot me, I'm just takin' it as I been told...)

Mon, 12/31/2012 - 19:10 | 3110902 busted by the b...
busted by the bailout's picture

It hasn't gotten to the House yet.  The TPers will get their chance later... maybe.

Mon, 12/31/2012 - 19:25 | 3110949's picture

Tax and spending bills must originate in the House.

Mon, 12/31/2012 - 19:36 | 3110971 Beam Me Up Scotty
Beam Me Up Scotty's picture

That was in another life....

Mon, 12/31/2012 - 19:38 | 3110983's picture

Just my luck, I was reincarnated as a constituent.

Mon, 12/31/2012 - 20:15 | 3111079 ACP
ACP's picture

You thought we're still a nation of laws?

That's so December 23, 1913...

Mon, 12/31/2012 - 21:14 | 3111198 Esso
Esso's picture

You know, just knowing that date will land you in a FEMA Freedom & Liberty Camp.

Mon, 12/31/2012 - 19:09 | 3110888 Pool Shark
Pool Shark's picture



While I'll personally be paying a bunch more in taxes, at least we'll be actually cutting some of the graft for the federal government parasites.

I feel like Robert Downey Jr. in the latest Sherlock Holmes movie: I'll willingly go over the Reichenbach falls, as long as I can take Moriarty with me...


Mon, 12/31/2012 - 19:10 | 3110900 knukles
knukles's picture

Actually, since I have no choice but to go over the falls, I'm grateful some bastard is along for the ride.


(And just to let you all understand what I'm talkin' about, just the other night I sat in the passenger seat next to Elvis when he was flyin' the UFO)

Mon, 12/31/2012 - 20:31 | 3111125 ACP
ACP's picture

The criminal scum in govt follow the (slightly altered) words of Patton: Make some other poor, dumb bastard go over the cliff.

Mon, 12/31/2012 - 20:34 | 3111133 TheFourthStooge-ing
TheFourthStooge-ing's picture

parenthetically, knukles said:

(And just to let you all understand what I'm talkin' about, just the other night I sat in the passenger seat next to Elvis when he was flyin' the UFO)

So Elvis was flyin' it this time? He must have cashed in some of his frequent flyer miles if they were actually letting him fly it. Next time you see him on a flight, ask him about the time he had a few too many drinks at a saucerport bar with one of the bigfoot stewardesses.

L-o-l-a Lola, Lo-Lo-Lo-Lo-Lola ...

Mon, 12/31/2012 - 20:44 | 3111147 Eally Ucked
Eally Ucked's picture

Knukles was drunk at that time, it was Mcconnell, not Elvis, and Reid was the bigfoot stewardess giving him top notch service.

Mon, 12/31/2012 - 19:36 | 3110977 Beam Me Up Scotty
Beam Me Up Scotty's picture

Don't be so sure.  Obama will start issuing executive orders to keep the parasites well fed.  You wait and see.

Mon, 12/31/2012 - 19:52 | 3111018 Gazooks
Gazooks's picture

open a vein, bitchez

Mon, 12/31/2012 - 20:26 | 3111115 ExpendableOne
ExpendableOne's picture

He already did.  Pay raise anyone?  

Mon, 12/31/2012 - 19:14 | 3110914 bjfish
bjfish's picture

.. deservedly so, I might add.  We can't have Repub levels of taxation and Dem levels of spending.  Just doesn't work.  In fact, Dem levels of spending won't work with any level of taxation. 

Too many ppl riding in the wagon, no longer enuf pulling the wagon ... the wagon stops & all hell breaks loose.

Mon, 12/31/2012 - 19:20 | 3110934 knukles
knukles's picture

ding ding ding ding

We got a winner!


Math, the New Inconvenient

Mon, 12/31/2012 - 19:42 | 3110997 Salon
Salon's picture

John Adams once said

Facts are stubborn things

Mon, 12/31/2012 - 19:52 | 3111019 Ned Zeppelin
Ned Zeppelin's picture

And Ronald Reagan once said

Facts are stupid things

Mon, 12/31/2012 - 20:18 | 3111090 mvsjcl
mvsjcl's picture

And Donald Rumsfeld once said:

Facts are known knowns

Mon, 12/31/2012 - 20:00 | 3111040 Gazooks
Gazooks's picture

fact is, happy (as if) fucking new year to ZH'erz all


13. a lucky fucking number




Mon, 12/31/2012 - 20:13 | 3111073 GeorgeHayduke
GeorgeHayduke's picture

"In fact, Dem levels of spending won't work with any level of taxation."

I'm no Dem but this myth is not backed up by the facts. From all indications thus far Dems tax and spend while Repubs borrow and spend. Note that spend is part of both sentences.

Just look at any government spending chart and it'll show the reality. From 2000 to 2006 when Bush had a Republican Congress (veto proof in some years), government spending still went up. It's just a amtter of what they spend the money on and who gets the the bigger piece of pie.

Here's just one of many sources that'll help debunk this myth for anyone who actually cares to see beyond the myths:

Mon, 12/31/2012 - 20:28 | 3111118 eatthebanksters
eatthebanksters's picture

Convenient much did Barryborrow in the last 4 years?  Dems spend, borrow, spend, tax, spend, borrow, spend, tax....They can't win an election without buying the votes and playing the class warfare game, even though their hearts are as black as any conservative.  Do yo think Buffet or Soros give a shit?  They get their cocks polished by whomever is in office.  Get real!

Mon, 12/31/2012 - 20:31 | 3111128 ExpendableOne
ExpendableOne's picture

Please step outside the box for a bit.  Note that the folks who control both parties are making boatloads of money both on the spending side and the borrowing side.  What's not to like about that eh?  


Republican is the flip side of Democrat and the entire coin belongs to the "bankster elites".

Mon, 12/31/2012 - 21:17 | 3111202 TheFourthStooge-ing
TheFourthStooge-ing's picture


Note that the folks who control both parties are making boatloads of money both on the spending side and the borrowing side.  What's not to like about that eh?

What's the use of having a one party system if you're not playing all sides for the big grift?

Republican is the flip side of Democrat and the entire coin belongs to the "bankster elites".

They're like the American League and the National League of the War Party.

Mon, 12/31/2012 - 21:51 | 3111254 GeorgeHayduke
GeorgeHayduke's picture

That's what I was trying to say, but not so bluntly. Both parties exist to milk the sheople for their owners.

Mon, 12/31/2012 - 20:36 | 3111136 Chuck Walla
Chuck Walla's picture

"Everyone takes, nobody makes, work doesn't pay, indulgence doesn't cost, money is free, and money is worthless."


~ Canadian MP Pierre Poilievre



Mon, 12/31/2012 - 19:38 | 3110982 One World Mafia
One World Mafia's picture

The cliff cuts are way too small to do anything but cause a slight delay of a few months before the day of reckoning. 

Mon, 12/31/2012 - 20:33 | 3111127 eatthebanksters
eatthebanksters's picture

The additional taxes paid by the rich are inconsequential, the brownie points Obama scores with the masses are immense.  What's ironic and amusing is he is so willing to raise taxes but won't close can increase my tax rates all day long if you give me loopholes and write offs.   The ignorant masses don't understand their glorius and adored leader is fucking them in the ass while he dirnks 25 year old scotch with Dimon and Blankfein.

Mon, 12/31/2012 - 20:13 | 3111072 westboundnup
westboundnup's picture

Ole Mitch

Mon, 12/31/2012 - 19:00 | 3110864 Snakeeyes
Snakeeyes's picture

Too many spending cuts for big spending Dems. Boehner is like dealing with Fredo.

Mon, 12/31/2012 - 19:11 | 3110903 bjfish
bjfish's picture

Commence the Obama Depression

Mon, 12/31/2012 - 19:27 | 3110956's picture

Obegin the Obeguine.

Mon, 12/31/2012 - 20:17 | 3111089 Pool Shark
Pool Shark's picture

Well played sir.

[golf clap]


Mon, 12/31/2012 - 19:30 | 3110960 Atlantis Consigliore
Atlantis Consigliore's picture

Needed Govie Theme Song: Where the Frauds Are... music overdub on all Tyler coverage of Greeceamerica.

Mon, 12/31/2012 - 20:39 | 3111141 TheFourthStooge-ing
TheFourthStooge-ing's picture

lolmao500 said:

Turtle head McConnell needs to be made into soup.

Urrggh! I wouldn't even feed that to AnAnonymous or Max Fischer.

Mon, 12/31/2012 - 21:08 | 3111188 akak
akak's picture

Alas, alas, three inches alas, McConnerr turtlehead soup not being known in pseudo-scientific traditional 'medicine' of Chinese lore of fabled past with making big and strong the weak oriental pee-pee.  For that with needing much the rare and endangered tiger penis, bear gall bladder and ground dragon bones.

Mon, 12/31/2012 - 21:28 | 3111223 TheFourthStooge-ing
TheFourthStooge-ing's picture


For that with needing much the rare and endangered tiger penis, bear gall bladder and ground dragon bones.

Preparingness diligently the best with overnights rhinoceros umbilical cord broth marination the ingredients giving much so the extended benefits propitiously.

Mon, 12/31/2012 - 18:51 | 3110834 stormsailor
stormsailor's picture

what difference does it make.  they make this up as they go along.

Mon, 12/31/2012 - 19:07 | 3110889 HardlyZero
HardlyZero's picture

No, no.  They follow the ancient Greek script.  It always has the same ending.

Mon, 12/31/2012 - 19:31 | 3110958's picture

The Hudson Brothers had the lowdown on zombies long ago:


What difference does it make?

Mon, 12/31/2012 - 18:53 | 3110836 Apathetic or Wh...
Apathetic or Whatever's picture

Listen to Rand Paul's senate speach this morning and tell me how this matters at all.  The American people are simply uninformed and that's the way they like it, just keep sending me my check so I can pay my bills until I die, that's all they care about.

Mon, 12/31/2012 - 19:19 | 3110930 Temporalist
Temporalist's picture
12/31/12 - Sen. Rand Paul speaks on fiscal cliff negotiations

Mon, 12/31/2012 - 18:51 | 3110837 rguptatx
rguptatx's picture

Let the spending cuts begin. Hope Congress starts cutting spending by passing a balanced budget and forcing idiot-in-chief's hand.

Mon, 12/31/2012 - 18:55 | 3110852 Obchelli
Obchelli's picture

Reps just surrendered to idiot-in-cheif - 2 month delay on sequestration... Kicking can one more time

Mon, 12/31/2012 - 19:40 | 3110989 Beam Me Up Scotty
Beam Me Up Scotty's picture

"Let the spending cuts begin. Hope Congress starts cutting spending by passing a balanced budget and forcing idiot-in-chief's hand."

Spending cuts.  You said spending cuts........


There won't be any spending cuts.  They will all be so far in the future, that they will never happen.  When will you people learn? 

Mon, 12/31/2012 - 18:55 | 3110838 ElTerco
ElTerco's picture

The market went up because they knew it would fail.  This moves the probability of QE-infinity to 100%.

Mon, 12/31/2012 - 18:59 | 3110863 RmcAZ
RmcAZ's picture

Don't we already have QE-infinity? I guess we need QE-infiniter and QE-infinitest, to borrow some Tylerisms.

Mon, 12/31/2012 - 19:15 | 3110913 busted by the b...
busted by the bailout's picture

Yes, but infinity is only the time dimension; they can still increase the quantity per month.

Mon, 12/31/2012 - 19:17 | 3110927 SHEEPFUKKER

QE infinity to infinity I believe is the term. 

Mon, 12/31/2012 - 19:35 | 3110973 ElTerco
ElTerco's picture

Also known as the Weimar Infinity(R).

Mon, 12/31/2012 - 19:54 | 3111021 Ned Zeppelin
Ned Zeppelin's picture

QE Infinity Squared (R)

Mon, 12/31/2012 - 20:04 | 3111051 Everybodys All ...
Everybodys All American's picture

Question: How many times can you announce QE infinity? Answer: Apparently, numerous times.

Mon, 12/31/2012 - 18:54 | 3110843 Obchelli
Obchelli's picture

Deal or not futures are "limit up" +250....

And then Mccain announces delay of sequestration....

I'm short this marked and I'm f%^d

Mon, 12/31/2012 - 19:05 | 3110880 busted by the b...
busted by the bailout's picture

You are not alone.  I've been waiting for "reality" to resume for four years.  I don't feel pain anymore.

In fact I feel happier every day now!  Soooo happy that I'm going to buy triple long ETFs first thing Wednesday morning!  Yes, that's the ticket!  It will be so much better than reality!  Long live the Bernank; long live fiat!

Mon, 12/31/2012 - 19:20 | 3110940 stormsailor
stormsailor's picture

down middle 6 digits for the year.  oh my aching short a-hole

Mon, 12/31/2012 - 19:36 | 3110975's picture

My middle digit is up more and more often these days.

Mon, 12/31/2012 - 19:36 | 3110976 Seasmoke
Seasmoke's picture

Hopefully you count 2 as the middle. Because 4-8 are some serious figures to lose.

Mon, 12/31/2012 - 20:12 | 3111070 stormsailor
stormsailor's picture

middle of 4-8 was down 7 figures at one point. clawed my way back

Mon, 12/31/2012 - 18:54 | 3110847 buzzsaw99
buzzsaw99's picture

there is no market

Mon, 12/31/2012 - 19:02 | 3110874 Cdad
Cdad's picture

Today was very good evidence of that.

Mon, 12/31/2012 - 19:11 | 3110904 knukles
knukles's picture


Mon, 12/31/2012 - 19:33 | 3110968 buzzsaw99
buzzsaw99's picture

Market is a little tweeting bird chirping in meadow. Market is a wreath of pretty flowers which smell bad.

Mon, 12/31/2012 - 19:41 | 3110981 akak
akak's picture

"Norman, Norman, please coordinate!"

Every time I see or hear a conformist, hopelessly brainwashed sheepizen whose status-quo power-structure paradigms are challenged or refuted, I think of that scene from Star Trek.

Mon, 12/31/2012 - 20:53 | 3111166 Fredo Corleone
Fredo Corleone's picture

In a similar vein, I see "Landru ! Landru ! Help us !"

For so very many in this nation, completely dependent upon the "gratuity" of the Archons, self-reliance is a concept wholly alien.

Mon, 12/31/2012 - 21:31 | 3111227 knukles
knukles's picture

Wasn't he the Scientologist guy who put the atomic bombs in the volcanoes next to which he'd just settled his chosen ones from Nibru or something like that?  I may have a few details wrong, but....

Mon, 12/31/2012 - 21:42 | 3111242 GMadScientist
GMadScientist's picture

L. Ron is Xenu

Tue, 01/01/2013 - 11:38 | 3111249 Fredo Corleone
Fredo Corleone's picture

Season 1, Episode 21. ( Nibru is actually the classified, pre- programmed destination of Voyager 2. -- But you didn't hear it here. )

Mon, 12/31/2012 - 18:55 | 3110851 Cdad
Cdad's picture

Every tick chasing broker says "passed" so it must be so...right?  

Mon, 12/31/2012 - 18:56 | 3110853 Joebloinvestor
Joebloinvestor's picture

Look forward to the divorces.

$400k individual, $450k filing joint.

Mon, 12/31/2012 - 19:21 | 3110907 knukles
knukles's picture

Or $800K total, filing separately...  :)

Mon, 12/31/2012 - 19:17 | 3110921 Nid
Nid's picture

No shit...the fucks in Washington love socially engineering via free abortions and paying folks not to work, but they've slapped a healthy penalty on marriage. Perhaps it motivation for 1%ers to cross breed with crack whores?

Mon, 12/31/2012 - 18:59 | 3110858 busted by the b...
busted by the bailout's picture

The market "said"/knows nothing is going to change materially in the new year.  They don't care about the details.

Mon, 12/31/2012 - 19:08 | 3110893 MiltonFriedmans...
MiltonFriedmansNightmare's picture

The "market" is a circle jerk of primary dealers which will cease to exist in the not too distant future.

Mon, 12/31/2012 - 21:05 | 3111167 EclecticParrot
EclecticParrot's picture

I assume your forecast was for a parallel universe that none of us have the science to visit (and where, for example, a perfect copy of Timmay Geithner frolics, only with smaller ears and a personality).  

No, it seems far more likely that the following sequence, already in nascency, fed to CNBC by their sponsors, the primary dealers, will play out, goosing equities further before an ultimate 18-20% plunge:  

a) continue to push the rotation from bonds angle:   ("old people don't realize how dangerous bonds can be"/"2013 may exhibit the first signs of wage inflation"/"China will boost growth and hence energy stocks"/"worlld leaders are finally tackling problems, business uncertainty will naturally fade, and Bernankus may need to act before 2017 on rates", etc.)

b) Squeeze shorts further to produce a few 300+ point up days in Jan to spark panicky 401(k) re-allocations to stocks, plus use the same hedgie trick that worked in 2012 to get AAPL back to 675, dumping heavily a few times each day at, per Tyler, yesterday's closing VWAP, and at daily VWAP after 2:00

c) While a) and b) are occuring, use friendly neighborhood algo bots to unload the primary's holdings onto Joe Public, largely through institutional retirement buying to honor customer allocation shifts (and make money selling them them bogus algos that will lead to heavy buying at precisely the VWAP levels the dealers wish to sell at, first to unload inventory, then again to short naked at prime levels for the final planned plunge)

d) Lather, repeat, continue to hedge this scheme with VIX magic

e) On April 9th (or thereabouts), begin daily 2-part "operation fuckem":  a) goose shorts with wicked spikes at 9:45 each day (or at 10:03 on days of important economic releases), then engineer slow, steady, alligator/sawtooth plunges from 10:30-12;30, fucking shorts with odd spikes thereafter until 2:45, then a final 3:12 - 3:52 p.m. flush (stopping, of course, at 3:29 for a fake "rebound" to enrage tag-along shorts), but not ignoring the daily 3:52 march back to VWAP (old habits die hard, don't they?)


In this manner, I suspect primary dealers wiill still exist, because they hold all the cards, but will be short these same cards by mid-year as the truth of "austerity" or playing "chicken cliff" becomes apparent to Average Joe, who will use Q3 to reverse the allocation again, after which they'll use low summer volume to squeeze shorts and entice Joe back, then prepare for their final fake "Christmas rally, then . . . you get the picture.  

But, damn, I'll just bet Joe Terranove already beat me to every detail of this forecast ...

Mon, 12/31/2012 - 21:08 | 3111185 bobert
bobert's picture

Have you been hurt going short in 2012?

Just wondering.

Mon, 12/31/2012 - 21:23 | 3111210 EclecticParrot
EclecticParrot's picture

Sorry, but I got sick this week, and when I take too many decongestants I write like Thomas Pynchon with an intravenous triple espresso (only a bit less liberal and with a lot less talent).  

Still, I stand by my forecast, which seems, at the moment, eminently reasonable (now I know the real reason Sudafeds are controlled -- take two of these little babies with a Chai latte and off you go ....)

Mon, 12/31/2012 - 22:06 | 3111281 bobert
bobert's picture

Perhaps you've discovered the remedy for the fiscal cliff.

The best to you!

Wed, 01/02/2013 - 19:36 | 3116796 EclecticParrot
EclecticParrot's picture

Across the nation, Sudafed sales to investors skyrocket after they see the wisdom of my above 2013 prediction (300+ point days, AAPL goosing) happening on Day 1 :)


Unfortunately, I was still too sick to trade, and missed all the fun (and even worse, I'm a TNA/TZA trader, and missed today's Russell ejaculation !).

Mon, 12/31/2012 - 18:59 | 3110859 Dr. Engali
Dr. Engali's picture

Are we still talking about this? I thought we went over the cliff..... Damn..... poor me another shot. Yes the spelling and the pun was intentional.

Mon, 12/31/2012 - 19:02 | 3110869 HurricaneSeason
HurricaneSeason's picture

The tough economy is even effecting the congressmen, having to work through the holidays. Gotta give credit where credit is due, they're hanging in there to fight difficult problems and not giving up.

Mon, 12/31/2012 - 19:04 | 3110878 MyBrothersKeeper
MyBrothersKeeper's picture

You are kidding I hope

Mon, 12/31/2012 - 22:11 | 3111288 HurricaneSeason
HurricaneSeason's picture

Yes, they are    it was a joke.

Mon, 12/31/2012 - 19:07 | 3110885 busted by the b...
busted by the bailout's picture

Good one!

Mon, 12/31/2012 - 19:33 | 3110967 SHEEPFUKKER

I believe "the congressmen" just got an Obama raise so they are likely getting double time as well for their glorious work for their country on the holiday. 

Mon, 12/31/2012 - 19:03 | 3110871 caimen garou
caimen garou's picture

do your country a favor and fire a politician! time to clean house!

Mon, 12/31/2012 - 19:10 | 3110897 Dr. Engali
Dr. Engali's picture

Do we have to stop at firing them? These slugs are like a veneral disease. You have to eradicate it or they come back.

Mon, 12/31/2012 - 19:14 | 3110911 knukles
knukles's picture

Now that'd be a winner.  Post on Google maps the name and location of all federal employees with social diseases.

Mon, 12/31/2012 - 19:17 | 3110917 Dr. Engali
Dr. Engali's picture

If its good enough to do to the gun owners then it's even better to do it to the political inbreds.

Mon, 12/31/2012 - 19:07 | 3110887 ziggy59
ziggy59's picture

Hoo hoo...Long, Pigs in the Blankets and hot mustard and hot catering servers!

Mon, 12/31/2012 - 19:08 | 3110891 Cdad
Cdad's picture is a good thing President Zero's clean energy tax credits will be preserved...and mandated sequester cuts can be "back end loaded" until never.

I'm sure the Republicans can't wait to vote for a plan that calls for tax hikes now, and moar tax hikes later too, and spending cuts never.  Exactly what the people have been clamoring for.

And I'm sure the economy will jump to life after all of this.

Mon, 12/31/2012 - 19:16 | 3110916 knukles
knukles's picture

Same shit as all the other plans.
Raise taxes now, worry about expenditures, sometime never down the road.

Mon, 12/31/2012 - 19:11 | 3110898 CrashisOptimistic
CrashisOptimistic's picture



Mon, 12/31/2012 - 19:11 | 3110899 CrashisOptimistic
CrashisOptimistic's picture

There has been so much anti House GOP hatred that very quietly certain Senate realities have been forgotten.

Namely, there are 6 Democrat Senators from RED STATES who are up for re-election in 2014.  They are not going to vote lockstep with the party.  They can't.


Mon, 12/31/2012 - 19:18 | 3110932 Freddie
Freddie's picture

Those 6 Dems would be enough to impeach Obama for Fast & Furious plus Benghazi.  It needs to happen. 

Mon, 12/31/2012 - 19:13 | 3110909 markar
markar's picture

So when do the 800K DOD furloughs begin?  Can't wait to see Fed employees take it up the ass the way we in the private sector have for years. 

Mon, 12/31/2012 - 19:18 | 3110926 knukles
knukles's picture

Will continue to accrue salary and benefits but not collect such until either rectification law passes or executive order issued.

aka: Paid extra bonus vacation time.

Can't make this shit up...

Mon, 12/31/2012 - 19:29 | 3110959 Seasmoke
Seasmoke's picture

That's how this state public pigs did it. They got weeks off and paid back retro , best of both worlds.

Mon, 12/31/2012 - 20:36 | 3111135 ExpendableOne
ExpendableOne's picture

Yeah, but I'll have a seat to myself on the train to DC!  who hoo!

Mon, 12/31/2012 - 19:20 | 3110938 busted by the b...
busted by the bailout's picture

But when the DOD furloughs begin, there will also be a lot of "private" sector employees, who are dependent on DOD contracts, that will soon be laid off too.

So don't count on them losing many days of pay.

Mon, 12/31/2012 - 19:17 | 3110920 ar01
ar01's picture

It will pass Tyler...

Mon, 12/31/2012 - 19:18 | 3110931 Tsar Pointless
Tsar Pointless's picture

Greatest Country in the WorldTM!

Mon, 12/31/2012 - 19:26 | 3110953 Seasmoke
Seasmoke's picture

So who is the lucky Senator naming his price for holding out for that last vote ?

Mon, 12/31/2012 - 20:09 | 3111064 Everybodys All ...
Everybodys All American's picture

+1 ... they'll be lining up for that pork.

Mon, 12/31/2012 - 19:30 | 3110961 One World Mafia
One World Mafia's picture

If, for example, Saudi Arabia wanted to secretely bankroll the US after falling off the cliff, how long could they afford to do so?

Mon, 12/31/2012 - 19:31 | 3110963 lizzy36
lizzy36's picture

House adjourned until tomorrow.

Over the cliff we go!

Mon, 12/31/2012 - 19:37 | 3110980 Pool Shark
Pool Shark's picture



See ya at the bottom...


Mon, 12/31/2012 - 19:38 | 3110984 Yen Cross
Yen Cross's picture

 This shit is better than watching a Chinese pingpong tournament..

Mon, 12/31/2012 - 19:56 | 3111029 bobert
bobert's picture

+1. Totally agree Yen.

Mon, 12/31/2012 - 21:54 | 3111258 knukles
knukles's picture

Reality TV

truTv series; Fuck the Public and the Art of Logrolling

Mon, 12/31/2012 - 22:00 | 3111268 Yen Cross
Yen Cross's picture

 Happy 2013 Knuckles. I hope you do more articles in 2013. You're a talented writer. :-)

Mon, 12/31/2012 - 22:06 | 3111280 knukles
knukles's picture

Thank you, Yen.  I appreciate it, that's very kind.
When the spirit moves me, I quite enjoy it.

And a very Happy New Year to you and yours, also.

Mon, 12/31/2012 - 22:35 | 3111345 Yen Cross
Yen Cross's picture

 Knuckles, I'm humble when there is something to learn. You, I suspect are a Tenured teacher. ;-)

Mon, 12/31/2012 - 19:49 | 3110991 debtor of last ...
debtor of last resort's picture

Everyone else is a bystanding loser. Greek Style, 1 billion vieuws bitchez!

Ain't seen nottin yet! Records are to be broken, the Beard said.

Mon, 12/31/2012 - 19:42 | 3110993 Chartist
Chartist's picture

This style of holding up the market by any means possible is why I believe it will be late 2013 before my SPX target of 1080 is reached.

Mon, 12/31/2012 - 19:48 | 3111003 Roscoe
Roscoe's picture

Totally off topic, but the lady cohost on CNBC right now looks like she could be Erin Burnett's little sister. Awesome. First encouraging sign I've seen for the impending dismal new year. Totally improves the scenery as we go off the cliff...

Happy 2013,


Mon, 12/31/2012 - 19:53 | 3111023 Zer0head
Zer0head's picture

Erin has the physique of a male model, which I guess is awsome depending on your perspective




Mon, 12/31/2012 - 19:57 | 3111033 surf0766
surf0766's picture

I thought his name was Ernie ? no ?

Mon, 12/31/2012 - 20:00 | 3111038 Roscoe
Roscoe's picture

Ow. 0head. Ok, now I feel sad again. Maybe the purple sweater blinded me...  I don't want to go over the cliff with mylast  thoughts doubting my masculinity. (Spoken in my best extra-baritone voice.)


Mon, 12/31/2012 - 21:55 | 3111260 knukles
knukles's picture

I couldn't care less.  If it's female and walks upright....

Mon, 12/31/2012 - 19:50 | 3111014 Zer0head
Zer0head's picture

time to spend New Years Eve with the interns 

and we so much wanted to spend it with the Mrs.





(thanks joe)

Mon, 12/31/2012 - 21:56 | 3111262 knukles
knukles's picture

Especially that young fella from Idaho who has the physique of Erin Burnett and looks great in women's....

Mon, 12/31/2012 - 19:53 | 3111020 q99x2
q99x2's picture

It is the same way that lawyers are taught how to screw their clients. Went through it once and won. After 5 years still trying to collect an amount equal to the lawyer fees. Nothing you can do except Revolt and throw the crooks into prisons.

Mon, 12/31/2012 - 20:04 | 3111053 q99x2
q99x2's picture

2013. I don't like that number.

Mon, 12/31/2012 - 20:05 | 3111055 DarthVaderMentor
DarthVaderMentor's picture

Among the big winners are the Mainstream Media and the owners of blogs in the financial Blogging community............

Mon, 12/31/2012 - 20:10 | 3111065 XtraBullish
XtraBullish's picture

Shorts got FRIED - again!

Mon, 12/31/2012 - 20:14 | 3111071 Marley
Marley's picture

"The tactic is to load economies (governments, companies and families) with debt, siphon off their income as debt service and then foreclose when debtors lack the means to pay. Indebting government gives creditors a lever to pry away land, public infrastructure and other property in the public domain. Indebting companies enables creditors to seize employee pension savings".

Read more at And the war on the poor continues.
Mon, 12/31/2012 - 20:17 | 3111087 seek
seek's picture

Off topic -- but obviously they're laying the groundwork to protect JPM in the precious metals markets, given what just happened with copper:

Mon, 12/31/2012 - 20:18 | 3111091 ziggy59
ziggy59's picture

Maybe in the new year the people will truly grow tired of the lies and of being urinated upon by our self important BS leaders and a real change will occur. Until then, Make Mine A Double...

Mon, 12/31/2012 - 20:24 | 3111104 Yen Cross
Yen Cross's picture

 Lock "Mc Connell , Reid and Boehner", in a  6'x 10' room with an (industrial fan) at one end. Then put Barney Frank behind the fan, and make him recite [Dodd-Frank] to the three of them...  

 They will be begging to sign a {letter of intent} with their own "Blood dipped Quills"...  {Death by Frank Phlegm}

Mon, 12/31/2012 - 21:13 | 3111197 bobert
bobert's picture

+1 again Yen. Agree with you again.

Can you imagine how Mc Conell is doing today after having spent the night at the white house with Joe Biden???

Now that's torture.

Mon, 12/31/2012 - 21:24 | 3111207 Yen Cross
Yen Cross's picture

Mc Con/ell or McConnell?  Boobs like me have trouble differentiating.

Mon, 12/31/2012 - 21:43 | 3111246 bobert
bobert's picture

Mc Connell.

Don't worry Yen I understand you. (I think.)

Mon, 12/31/2012 - 20:38 | 3111137 Everybodys All ...
Everybodys All American's picture

There is no way they will get this bill through the House. No way. Any House Republican who votes for this will get pounded in his own primary. Count on it. This is essentially the same Plan B that Boehner tried to get through the House. How did that work out?

Mon, 12/31/2012 - 20:45 | 3111152 Yen Cross
Yen Cross's picture

 Yes they will. I'll wager you/  The debt ceiling debate, is where Republicans will get their consessions.

   The core axiom of debate is SPENDING. Even the libtards admit that.

Mon, 12/31/2012 - 20:54 | 3111168 Everybodys All ...
Everybodys All American's picture

There are no spending cuts in this bill. None. I'll bet you any day if there are no spending cuts this goes down.

Mon, 12/31/2012 - 21:09 | 3111181 Yen Cross
Yen Cross's picture

 Did I say anything about "spending cuts"? NO/ I clearly stated that (A) deal will be done to use the "Debt Ceiling" (March-2013) for spending cuts/

   I won't waste my time junking you. Being that it's New Years Eve, I'll just take screen shot, and share it with you after you recover.

Mon, 12/31/2012 - 21:37 | 3111239 Everybodys All ...
Everybodys All American's picture

Happy New Years to you as well. I misunderstood perhaps. Either way I see no deal for conservatives. We shall see. Obama today just stated his strategy will be to go for more tax revenue next time and I think that alone kills this deal. Also, Obama has so much more to gain politically by seeing this fiscal cliff talk drag on. He can inflict more damage to republicans with the complicit media he has developed. On the other hand a conservative sees the sequestration as at least some small spending cuts albeit in defense and not maybe where they would prefer in with entitlements. And thats why we are still grappling in circles don't ya think.

Mon, 12/31/2012 - 21:54 | 3111257 Yen Cross
Yen Cross's picture

Now you're getting it! Well done. Happy New Year to you as well/ "Pain for Gain".

 Those sock puppets in D.C. could give 2 shits, until a rifle is pointed down their throats.

 The only deal for Republicans, is to keep the Estate tax , AMT, Income tax rate as low as possible, until the debt ceiling debates in February. Then spending cuts come into the picture/

 Q-4 earnings-Q1guidance, employment numbers, CPi-PPi numbers should be interesting.

Mon, 12/31/2012 - 21:08 | 3111189 Jeepers Creepers
Jeepers Creepers's picture

The difference is timing.

In 2012, this bill would be a tax increase.  In 2013, this deal would be a REALLY big tax cut since the rates reset to the Clinton rates on Jan 1.

Liberals are fuming because it's about 99% of the Bush tax cuts.  I have mixed feelings, but at least it's more fiat money I can keep to buy precious metals with instead of throwing it down a black hole that is the federal government.

I agree that spending is this nation's existential problem, tax rates are like worrying about what brand of wax we have on the car as it goes over a cliff. 

We simply can't "tax" our way out the problem, anyone who says otherwise is selling you a load of sh#t.


Mon, 12/31/2012 - 22:37 | 3111350 Mentaliusanything
Mentaliusanything's picture

When is a vote a real vote and who will be recalled @10.30pm.

only those that are called will be the ones needed.

The J Biden compromise will rise and be passed.

A great sigh of relief will be heard as that battered can gets kicked down the hall of the people.

We and our asses remain on leather, the rest of the people can kiss our ring finger. Its good to be King

Mon, 12/31/2012 - 20:45 | 3111148 Jeepers Creepers
Jeepers Creepers's picture

Our current situation has absolutely nothing to do with tax rates and everything to do with spendthrift politicians and printing from the central banks. If you simply confiscated all wealth above $250k you still wouldn't make a dent in our problem.

Do NOT follow this link or you will be banned from the site!