US To Officially Go Over The Fiscal Cliff

Tyler Durden's picture




 

As we forecast back in November, it is now official that the House will not vote on any deal out of the Senate, assuming there is one, later today, which means America will officially slide off the Fiscal Cliff. And now cue everyone being very hopeful and optimistic a deal will get done momentarily, if not sooner, in 2013. Of course, we all know just how far optimism takes America's dysfunctional Congress. The biggest irony in all of this is that the only winners today were the much hated "1%"-ers, whose taxes may or may not go up, who just got to book major year end profits on this last minute ramp. The remainder of America's population can quietly look forward to 2013 with "hope" and "optimism" that in 2013 Congress will finally stop being dysfunctional. Good luck. Oh, and before we forget, America just breached its debt ceiling: now the pillaging of various government retirement funds begins.

Finally, since the US is now officially over the cliff, does this mean that Ben Bernanke can finally get to work? Recall his words:

"if the economy actually went off the fiscal cliff, our assessment, the CBO’s assessment, outside forecasters, all think that that would have very significant adverse effects on the economy and on the unemployment rate. And so, on the margin, we would try to do what we could. We would perhaps increase a bit."

Is it time to increase QE just "a bit" then?

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Mon, 12/31/2012 - 17:03 | 3110441 ihedgemyhedges
ihedgemyhedges's picture

AWESOME!!!!  BOUT DAMNED TIME SOMEONE STOOD UP IN THAT SORRY ASS TOWN!!!!  I'm breaking out the Schlitz Malt Liquor tonite to celebrate.  Screw the champagne....................

Mon, 12/31/2012 - 17:06 | 3110464 maxmad
maxmad's picture

No deal Bitchez!

Mon, 12/31/2012 - 17:07 | 3110467 in4mayshun
in4mayshun's picture

Minutes after the market closed...big surprise there.

Mon, 12/31/2012 - 17:08 | 3110477 CrockettAlmanac.com
CrockettAlmanac.com's picture

Cue Chuck Jones.

Mon, 12/31/2012 - 17:12 | 3110502 Stackers
Stackers's picture

$100,000 per second and counting ...........

 

do the math, that is not an exaggeration

Mon, 12/31/2012 - 17:19 | 3110544 Manthong
Manthong's picture

Well, a lot of people will get to know how Buzz felt..

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

Mon, 12/31/2012 - 17:22 | 3110561 I think I need ...
I think I need to buy a gun's picture

this news is actually not official yet CNBC has NOT announced this!!!!!!!!!!!!!

Mon, 12/31/2012 - 17:26 | 3110580 smlbizman
smlbizman's picture

as soon as they gey done pissing off putin. which is most important...we will get back to the cliff...if it saves 1 child...

Mon, 12/31/2012 - 17:32 | 3110605 flacon
flacon's picture

Motherfuckin' VXX!

Mon, 12/31/2012 - 17:34 | 3110613 Pareto
Pareto's picture

+100 :)  cleaning the comp screen of coffee......again.

Mon, 12/31/2012 - 18:11 | 3110751 Pladizow
Pladizow's picture

10,9,8,7,6,5,4,3,2,1...Unhappy New Year!

Mon, 12/31/2012 - 18:19 | 3110773 francis_sawyer
francis_sawyer's picture

I'm drinking "Andre'"... The BEER of champagnes...

Mon, 12/31/2012 - 18:56 | 3110846 The Gooch
The Gooch's picture

Cold Duck, bitchez.

Happy Fuckin' New Year!

Mon, 12/31/2012 - 19:15 | 3110915 Texas Ginslinger
Texas Ginslinger's picture

"...The biggest irony in all of this is that the only winners today were the much hated "1%"-ers, whose taxes may or may not go up, who just got to book major year end profits on this last minute ramp..."

Really..??

Are you saying that only the wealthy are smart enough to make money in an up & down market..??

If the markets are moving and you aren't making money, what are you doing..??

 

Mon, 12/31/2012 - 21:03 | 3111175 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

http://www.youtube.com/watch?feature=player_embedded&v=Ht_qjv54iB8

Mon, 12/31/2012 - 21:12 | 3111195 markmotive
markmotive's picture

Nobody cares. Market had the biggest final day rally since 1974.

 

Mon, 12/31/2012 - 23:18 | 3111431 Michaelwiseguy
Michaelwiseguy's picture

I am hereby re-branding the lexicon terminology "Assault Weapons" to "Defense Rifles" from hear on out.

Please use the correct terminology when referring to Rifles as "Defense Rifles" when addressing the machine in conversation.

Thank You.

Mon, 12/31/2012 - 22:46 | 3111373 WTFUD
WTFUD's picture

Bartering with the corner grocer who demands more of my foodie stampies for the outadate sloppy gmo on offer. inflation nah!

Mon, 12/31/2012 - 23:17 | 3111427 Sparkey
Sparkey's picture

Losing Money? The Fiscal Cliff hysteria is having a toll on me, I dream, I have been thrown off the Cliff, screaming into the night, I can see the bottom rushing up to meet me, somehow, before I reach the bottom, I awake in a cold sweat, whimpering and calling to Mother and Jesus. This is bad business, please urge someone to do something Before I lose my mind, I can't take the stress much longer, Why can't we have just a little more QE?Just enought to ease the pain, please Mr. B I beg you just a small dose of stimulus to help me sleep!

Tue, 01/01/2013 - 01:00 | 3111574 Roosting Chicken
Roosting Chicken's picture

That's funny.  I had the same dream, only I was thrown off a boat with my bag o' silver and could see the bottom rushing up toward me.  Somehow, before I met the bottom I realize I can just let go of the silver and float back up again.  But MOTHER JESUS I lost all my silver!  Truth be told, truth be told.

Tue, 01/01/2013 - 00:28 | 3111539 jballz
jballz's picture

 

If you are trading and you aren't the wealthy, then it is quite obvious what you are doing.

Mon, 12/31/2012 - 20:05 | 3111050 DaveyJones
DaveyJones's picture

whenever I drink to congress, I can't help thinking of these wines and this site:

Night Train Express
17.5% alc. by vol.

Don't let the 0.5% less alcohol by volume fool you, the Night Train is all business when it pulls into the station. All aboard to nowhere - woo wooo! The night train runs only one route: sober to stupid with no roundtrip tickets available, and a strong liklihood of a train wreck along the way. This trainyard favorite is vinted and bottled by E&J Gallo Winery, in in Modesto, CA. Don't bother looking on their web page, because they dare not mention it there. As a clever disguise, the label says that it is made by "Night Train Limited." Some suspect that Night Train is really just Thunderbird with some Kool-Aid-like substance added to try to mask the Clorox flavor. Some of our researchers indicated that it gave them a NyQuil-like drowsiness, and perhaps this is why they put "night" in the name.

courtesy of bumwine.com

Mon, 12/31/2012 - 20:16 | 3111086 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Put em in the freezer. You can drink the alcohol without any of that other stuff.

 

really works... try it .. NT or BF

Mon, 12/31/2012 - 20:30 | 3111119 ebworthen
ebworthen's picture

LOL

Thanks for that.

I remember Mad Dog 20/20, the DOG, MD!

Or...Manischewitz!

What's funnier is the suburbanites who buy the box wine or even waste money on cases of the $12 a bottle stuff just so they can get drunk and not look like drunks buying Popov vodka, Scoresby, or Night Train.

Mon, 12/31/2012 - 20:40 | 3111140 toady
toady's picture

Ah, the good old days!

Olde English 800, 5 o'clock vodka, Canadian Mist... along with the ones you mentioned.

I can hardly remember my youth!

Mon, 12/31/2012 - 21:02 | 3111173 Fredo Corleone
Fredo Corleone's picture

Four Roses...Popov...Haffenreffer...Narragansett...the rotgut of youth indeed. To quote Jerry Lee Lewis --

"What's made Milwaukee famous has made a loser out of me."

Mon, 12/31/2012 - 22:03 | 3111275 optimator
optimator's picture

Rupert Knickerbocker, Piels, Rigne Special, Hamms, any one of which worked perfectly in washing down vodka after tasting it.  Even in my youth I couldn't touch Nastygansett.

Tue, 01/01/2013 - 00:10 | 3111524 FEDbuster
FEDbuster's picture

What's the word? Thunderbird!

Tue, 01/01/2013 - 10:29 | 3111851 CH1
CH1's picture

Richard's Wild Irish Rose and Boone's Farm.... just the mention of the names could make a guy queasy.

Tue, 01/01/2013 - 11:41 | 3111989 Fredo Corleone
Fredo Corleone's picture

"What's the price ?"

"Fifty twice!"

Mon, 12/31/2012 - 21:57 | 3111265 D-liverSil-ver
D-liverSil-ver's picture

Yeah that brings back memories from college... I scantly recalll chasing down a Rorer 714 with a quart of Olde English 800.

The feeling in my face came back the next day...

Tue, 01/01/2013 - 06:37 | 3111742 Disenchanted
Disenchanted's picture

 

 

With Everclear sweet darkness is near.

grain alcohol bitchez...

Tue, 01/01/2013 - 10:31 | 3111852 CH1
CH1's picture

Rorer 714....

Dude, you were hard core!

Mon, 12/31/2012 - 17:29 | 3110583 Fish Gone Bad
Fish Gone Bad's picture

Pillaging?

Historically it has been raping and pillaging. 

Mon, 12/31/2012 - 17:45 | 3110653 tenpanhandle
tenpanhandle's picture

Due to the recent elections, it is now assumed that participants are willing, therefore, no rape.

Mon, 12/31/2012 - 17:47 | 3110664 ElTerco
ElTerco's picture

Republican "media consultants" have advised all Republicans to no longer use the word rape, period.  Therefore "pillaging" is the new PC equivalent of the old phrase, "raping and pillaging". 

Mon, 12/31/2012 - 17:53 | 3110686 Stochdoc
Stochdoc's picture

My preference is for brutally beaten, raped and sodomized.

Mon, 12/31/2012 - 20:16 | 3111084 Bananamerican
Bananamerican's picture

mine is for all rapists to be summarily executed during times of war or civil disturbance....or hell, Anytime.

Mon, 12/31/2012 - 21:58 | 3111267 Lore
Lore's picture

+100

Tue, 01/01/2013 - 20:01 | 3113187 tenpanhandle
tenpanhandle's picture

the two rapist in the crowd disagree.

Mon, 12/31/2012 - 17:44 | 3110645 Kaiser Sousa
Kaiser Sousa's picture

Cnbc just had Schiff on with the moron Leisman....among the jewels leisman dropped - 

"the dollar hasnt lost any significant value....its the currency everyone wants....."

fucking sick moronic cocksucking propgandist...

 

must c tv....

Mon, 12/31/2012 - 17:49 | 3110671 flacon
flacon's picture

It's LIBORman.... sorry to correct you. Or you could also say LIEberman. 

Mon, 12/31/2012 - 17:54 | 3110693 maxmad
maxmad's picture

Or just Liesman

Mon, 12/31/2012 - 18:43 | 3110809 Kaiser Sousa
Kaiser Sousa's picture

roll tape....

again, LIESman is a fucking moronic bitch ass wall street banker bitch.... 

 

http://video.cnbc.com/gallery/?play=1&video=3000138329

Mon, 12/31/2012 - 19:26 | 3110952 derek_vineyard
derek_vineyard's picture

watch out with the rant kaiser....they'll come for your guns

Mon, 12/31/2012 - 20:15 | 3111080 10mm
10mm's picture

Fuck the fat bald cock.

Mon, 12/31/2012 - 21:23 | 3111212 akak
akak's picture

Not even for $10,000,000 in a haz-mat suit.

Besides, he has bent over for Ben (Dover) Bernanke so many times, he'd be about as loose as a 55 year-old DC prostitute.  Which is incidentally exactly what he is.

Mon, 12/31/2012 - 21:30 | 3111226 captain_menace
captain_menace's picture

I would definitely need to do it before midnight, as my New Year's resolution is to stop fucking old men that look like the Evil Emperor.

Mon, 12/31/2012 - 20:48 | 3111156 Hulk
Hulk's picture

If you watch "this old house", you can see he's a pretty good plumber though ...

Tue, 01/01/2013 - 01:08 | 3111581 mumcard
mumcard's picture

Hey, don't bad mouth Rich Trethewey.  He's probably cleaned up enough shit to scare the hell out of congress.

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