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US To Officially Go Over The Fiscal Cliff
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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BULLISH!
Bullish
Bullshit!!!
That's some synchronicity you guys got going there.
I had to fix it for them....
BULLSHITTERS BULLSHITTING THE SHIT UPON - LIVE ON FAUX NEWS AT 11 !!!!!
Faux News? You must be a moron who still watches TV - any TV. You probably watch Hollywood's shit as well. Both TV and Hollywood want to disarm you - doofus.
it is bizarre the hate that fox gets when they are the most honest about their bias, even if in reverse platitudes.. a news organisation which has to claim that they are what journalists are to be believed? lol.. but thats all of them.
in a real world telling the truth makes you a "journalist" (where did that term come from? sounds like.. blo
everything else is a disembodied human prop.
report back at 11
Freddie - do your R + D before you punch some one in the face.
That gets you publically boot fucked for idiotic posturing.
A look at my past posts would put you right on the path to accurate reporting rather than speculation.
Trying to emulate lamestream media ?
Jesus H Christ, you got it as right as the assault rifle screamers after Sandy Hook.
I don't watch TV, PERIOD.
No cable since 2004.
No Facebook, No Twitter, No Linked In, No Talk radio.
NO BRAIN DAMAGED MAINSTREAM NOTHING !!!!!
You have a good head on your shoulders - just use it - all the time.
See you on the other side of the bullshit fiscal cliff, and the new year.
I'll be the guy you don't have on your six oclock on night watch after the whole world train wrecks.
SILVER, GOLD, SECOND AMENDMENT FIREARMS, AMMO, SUPPLIES AMD KNOWLEDGE.
The only currency going forward.
feelings hurt? shut up you pussy.
Blow me, troll bait.
Yes, but still all in the name of the Queen!
I watch Max Keiser's show now and then. But I watch it on the net. He may be biased as well for all I care but he tells it like it is, calls the banksters criminals and terrorists as they are. I have a good bullshit detector so even when I see TV (outside my house, e.g. when it's on at a bar or at a relative's house) I spot their lies easily. I don't PAY for TV nor buy much things that are advertised on it (I mostly buy local products and no-name brands). If you don't watch TV but buy from their advertisers you still support it. Starve the beast!
+1
Good man. Amazing how once you are away from it and see it in the airport (I stopped flying now too unless it is a must), store, restaurant it makes you almost ill. F TV and Hollywood. They want to disarm us including Murdoch/Fox. Fox is around to make sheep think there is an option.
RT via the net maybe. The RT Financial stuff with that young lady, Reggie, Faber and a few others is pretty good.
Cable TV or Sat TV or anything Hollywood feeds the evil beast.
Don't forget to pull the handle on the way down - the 'chute won't open otherwise.
Which is the handle?
Gotta pull the charging handle twice on a duce, kids.
Armadeggon, bitches!
motherfuckers still gonna get payed. not there yet. crime has to spike for the inevitable retaliation against the peaceful.
I can only stomache CNBC now for about 15 seconds. This media controlled reality is sickening. Stop the ride, I want off.
There's no stopping the ride now... we just went over the top and down we go.
But you can raise your arms, wave your hands and scream and enjoy it like the rest of us.
Great new year to everyone!
I pulled the plug, literally, a month ago. Had my TV removed from my office. Since then, my stress level has gone down....markedly.
Thomas Jefferson once remarked he was a much happier man when he didn't read the newspaper.
Except for the cartoons and crossword.
Or was that Hellen Keller?
ALL TV and ALL Hollywood is total propaganda shit. They want to disarm you as well.
Go to youtube and search Hollywood Hyprocrites Demand A Plan.
Multiple videos lampooning the Hollywood scum and racists like Jamie Foxx and Chris Rock. F Hollywood and F TV.
Barney The Purple Tyranosaurous Rex teaches us that there are enough government defense contracts and SNAP cards for everyone, if we all just learn to share.
Are you accusing Barney of spreading "propaganda shit"?
You, Sir, are a meany.
the congress forgot to "Rise Above" However I heard LIESman was offering to blow anyone that supports more QE
Thank God, hopefully that means there will be no last-minute, higher-taxes-and-no-spending-cut deal.
CUT SPENDING NOW!!
They got the ramp...all that counted - for them.
But we still have the drag queen drop: http://www.cnn.com/2012/12/31/us/new-years-drag-queen-drop/index.html
Hands off my guns and drag queens.
BTFD!
Ooooooh that Potter fella done real good with stocks today (notice I didn't use the word 'markets')!
Time to appoint Ron Paul czar.
Dr. No doesn't do Czar.
Do Czar Do Czar...(FEMA) Camptown Ladies sing this song....
Alemande left and do-czar-do!
Only 24 S&P points up... Could anything else have happened? Need to close the year above 1400 yet again.
In the next 90 days - years and years of hopium will come home to roost.
I thought the idiot-in-chief said they were close? Close to the edge! hehehehehehe
The Puppet just reads what's on the teleprompter.
don't drive angry
POSTED 1 MINUTE AFTER THE MARKET CLOSED!!!!
Damn, you can't pay for entertainment this good!
On second thought...
Who knew CNBC's John Harwood could be the biggest tool in DC. Well, I have to admit I did.
...Joe Kernan that you?
I don't friggin get it! Why does going over the Fiscal Cliff mean ramp the RUT & SPX toward 2% & beyond???
because automatic federal spending cuts.
essentially cutting the barbed wire.. graze free.
to the moon.
Who FUCKING cares kick the can....kick it so more.......Christ Greece is still floating somehow.....The US can screw around to 10 years......Control P market up 170 after down 222 after Friday,s close thats a 392 point turn around....ha ha ha joke....
Obama: This all the repbulicans fault, see? I told you. Oh well, back to Hawaii!
Beach Blanket 'Bama.
Am i suppose to be drunk all ready for New Years?
yes, unless somehow you have something more pressing to do.
did you hear they got osama?
The rumor out of D.C. is GM is alive.
Bunga Bunga!
Today its Bunga Bunga. Tomorrow its death by Bunga Bunga.
bunga bunga always ends deadly
Bunga Bunga...The US makes that look like a 2yo toy, you boys know how to screw things up and your making a grand fucking job of it
Amazing how yesterday's losses on the DJIA were wiped out today. What a remarkable forum for fair and open price discovery the market represents... NOT!
2012 ends FUBAR.
Likely outcomes of fiscal cliff (expiration of tax cuts + sequestration):
(1) QE-infinity
(2) middle class increases 401K contributions out of anger at higher taxes (to avoid those higher taxes)
(3) Increased volatility
(4) Traders make billions
Does this help explain why the market went up?
What are the bets on Bernanke's response?
+$25 Billion / month for fiscal cliff,
+$25 Billion / month from debt ceiling,
+$25 Billion / month if 2013Q1 GDP is negative,
on top of existing $85 Billion per month. So I bet $160 Billion per month by September 2013.
PREPARE YOUR ANUS
Ha! I'm gonna try that line on my wife tonight.
Been nice knowing you.
Now THAT is some funny shit! Here's to ya!
:)
Only after the champagne (lots of it). Any earlier would be suicide!
and the USA gets a perfect "10" for it's original cliff dive! wow,you got to give it to congress and that wonderful team leader obama for the team spirit! we have not seen that kind of performance for some time! now back to you tylers.
Happy Brave New Year Bitchezzzzzzz!
Over the cliff we go! Thank freaking zod. I have a bottle of Crown Royal Black and I'm drinking my ass off tonight in celebration!
I actually have a bottle of Cutty Sark >>shudder<< that my Mother In Law left at my house on Thanksgiving, so I guess I'm good.
No Woodford for me. :(
Woodford was sold out at my liquor store in Texas so I'm Knobbin it up the Creek tonight. Couldnt restock my 223 stack either.
im up the creek too. but its just down the road from me as for 5.56 308 im good but short 45 cause i just got a new 1911. bring the new yr in right brother
knobbing it up the creek sounds too kinky for me. There's easier ways to remove the cork, my friend. Personally, I'm spending New Years with my "Pappy VanWinkle". Cheers!
I guess you'll be brown-baggin' it tonite outside your south central L.A liquor store, ey, Doc?
That's a little closer to my budget lately. lol.
Happy Fuck You Bernanke New Year!
Heard this joke yesterday -- seems appropriate:
For 98% of Americans, the last words spoken as they slide off the road in a snow storm are: "Oh shit!"
The other 2% live in Maine; they say: "Hold my beer and watch this!"
"Fuck you Troopah!" <thwack>
+1
Presented without comment. (Opens in new Window)
I wish that could be my avvy.
That was pretty funny.
http://consultingbyrpm.com/blog/2012/12/sometimes-you-should-look-up-the...
Good link and lots of interesting comments there too.
This bullshit should not be a surprise in a country with 50 million on foodstamps. It's rape, financial rape, financialization of a country and it's people. A real shame. I wish you all the best for the years to come. Happy new year, BITCHEZ! P.s., i'm working on a video where The Bernank catches the can between his buttocks and screams: PLEASE, NO MORE!
These POS really worked the market today all for their own gain. No deal is going to happen.
knob creek for me, molon labe bitchez
Jim Beam Black and Old Grand Dad are pretty fine too.
And a hat tip for High West Distillery's Rye Whiskey's (the original American style whiskey - Rye that is).
(Seagram's 7 is my regular go-to)
Happy New Year, Damnit.
When does that sordid bunch of equivocating harpies, and that other bunch of vampire squid, spontaneously combust so normal people can live a normal life again?
More problems:
Thu Dec 20, 2012 12:39pm EST
* USDA says China cancels 540,000 tonnes of US soybeans
* Second such cancellation this week
* CBOT soybean futures tumble
* Traders say China shifting demand to South America
* Brazil on track for bumper crop
Is there time to tap Thelma or Louise?
Whatever happened to Juliette Lewis? She was a looker in my opinion. I guess "was" probably answers my question.
I used to bang er....I ..mean date a girl named Julie Lewis. Sorry Julie it was only for the sex
Hey, so did I!
ES at 1424 ... damn near the high for the year as we head into the fiscal gully.
My friends are going around slapping themselves on the back and congratulating themselves on such a fine year and me ... well I'm the Bear and I'm damn exhausted at preaching of bad debt and default ... a year of battle comes to an end and hibernation awaits for the Bear.
assholes in DC cant figure out how to stop spending so much damn money their solution is to steal more from us serfs?!?!?! fuck them all with a broomstick except for those 40-50 conservative Rs who told boehner to take his plan B and shove it up his ass. at least someone has some balls
happy new year all
any suggestions for good recent economic documentaries or videos on the fiscal cliff please?
also anyone see any ar 15 lowers in stock anywhere
Don't get Scroogled; used Bing to find this one. Only $119.99:
http://www.justforcombat.com/Ar-15-Forged-Lower-Receiver-Receiver-Forged-Lower_i10346
Actually, just found this one for only $109.19, but it's backordered:
http://www.wholesalehunter.com/product.asp?productid=89721
yeah everything is backordered or unfinished or extremely expensive! Thanks
Don't forget made to break, it has occasionally saved lives.
If you are looking for an AR15 receiver, I got mine from 80% Tactical Machining . But you either need to be a machinist with the equipment to finish it or pay someone to do it for you. I paid 90 dollars last year, but my local gun dealer said they are now selling for over 200 dollars.
nuts ain't it
And it's only just started. The real crazy shit isn't here yet.
http://www.democracynow.org/2012/12/14/dean_baker_the_biggest_myth_in
thanks
Not quite a documentary, but certainly a good 17:00 of elucidation, especially considering the source: http://www.youtube.com/watch?v=1CeTwP5YOkU
The Fiscal Cliff: Just a Red Herring Distracting Everyone from the Real Issue KHQ NewsYea, after seein those 14 story cranes from china being readied to ship out our low cost crops and veggies,(if we can still grow crops soon) just so we can buy them back at a higher cost to the middle class, well it just made my blood boil.
I am so much more relaxed since I gave up shorting the ES. no longer trying to justify illogical market ramps and levitation. I also am no longer subject to the rampant insider trading and corruption.
it feels good.
Me too when I stopped shorting Treasuries.........
I now force myself to buy at least one small scalp every day. It has helped me get over the short russell syndrome. Try it, it works......................
Histrionic huffing and puffing about going over the fiscal cliff is ridiculous.
What the 112th Congress can do today, the 113th Congress can do, beginning in January.
Problem solved.
Please return to your regularly scheduled programing.
MISSION ACCOMPLISHED
Forget the fiscal cliff, where will I get affordable cheddar aged for 6 years after the dairy cliff??
Now that Russia cancelled American Adoptions, maybe we can have the Russians adopt congress and the President. Simple solution to all our problems.
Next FOMC statement to be released Jan. 25. How long until the front running begins?
http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
http://www.marketwatch.com/story/progress-cited-as-fiscal-cliff-deadline...
Whats up with this headline, did they actually figure out a tax deal or is it more bullshit?
Amash put this article up on twitter so Im guessing its legit
http://www.mlive.com/news/grand-rapids/index.ssf/2012/12/fiscal_cliff_ta...
Is it even respectful to call Obama "president" at this point or is it just a huge insult to the real Presidents that came before him?
The guy is just a huge, sad joke. Tell me again, how is it that this complete buffoon got elected and then re-elected?
It's mind boggling!
http://www.washingtonpost.com/blogs/right-turn/wp/2012/12/31/obama-just-...
How'd Obama win? Ask the people who ran Romney/Ryan: stupid is as stupid does.
BTW, Obama got a long way to go before he increases the National Debt by as large a % as Dubya did. And he has little chance of catching Reagan in that department. Have we stopped calling those guys President?
The difference is, Reagan ran up the debt back when we could still afford it. Theoretically at least.
That stopped being the case sometime in the late 90s or early 2000s
He's a half-black, half-white progressive who smokes pot and Newports - goes both ways - and believes in entitlements and big spending on banks, corporations, and the military.
Technically he's half white, quarter black, and quarter Arab... And ALL Muslim.
Gold Rose Again For The 12th Straight Year!! US Is Facing A Huge Structural Deficit Problem In Long Term. Still No Cuts In New Fiscal Deal YET!!! Print All The Way To The Edge?
http://investmentwatchblog.com/gold-rose-again-for-the-12th-straight-yea...
Headed up again after painting the year-end.... expect further gsains if the (un)official intervention teams don't have any funds to keep up the market manipulation.
Now BHO going to silence Hillary. Gentlemen, I present you Emperor Obama:
http://2.bp.blogspot.com/-fiF8FwiM4zQ/TbSaixd09JI/AAAAAAAABYw/kki6kW6YRFg/s1600/Emperor%2BObama.jpg
"Am I not merciful?"
"If they don't respect me, how can they love me?"
"Only my friends call me 'Big Kahuna' and I am not your friend."
"We reward our friends, and punish our enemies."
Had the same thought this morning when hearing of her new "health problem". Have to wonder if Bill gave his blessing to it though. Time will tell.
Moar and increasing QE? Is the trend still my friend?
Where's Fart to Market with his meaningful posts?
I fart in the general direction of the market daily
Gold to the moon
Dios mio, first Kim Kardashian pregnant (with her choice or bump or whatever the fuck these whorish kids call their pre-term monsters who survive the abortifacient these days), and now this. Bunga Bunga. There is now not a better excuse to go to the range and squeeze off a few hundred bux in ammo. Practice up you wet pantied bitchez, when the mobs come for your goods, you better have it all dialed in tight or the security staff well trained and armed.
I f*ing love it! Congress has clearly demonstrated that only when they do nothing, they move the U.S. closer to long term prosperity (granted, after a short-term uncomfortable roller coaster ride). If they can just sit on their hands a lttle longer, they will have succeeded at raising revenue and cutting spending/graft to move towards balancing the budget -- in other words the job we hired them to do in the first place -- run the country like adults!
Now, if we could only muzzle the Fed.
In my not so humble opinion, there should be an amendment to the Constitution of these United States of America, that if the Budget wasn't balanced, the Government did not spend what it did not have to spend, ie. non profit, spend what you take in, NO political contibutions from anyone, called out-of-pocket financing, and each candidate had to pass an IQ test(?), then at the end of each Fiscal Year, if none of the above were accomplished transparently for the Sheeple eyes, then the son of a bitchen politicians should be thrown into a hole in the ground where they would eventually EAT EACHOTHER........................
If the Constitution had a balanced budget clause....we would have most likely lost WWII. Of course we live in a Facist state anyway, so maybe we shoulda saved the money.
If we had a balanced budget amendment, FDR never would have dared to back the Japanese into a corner to force them to attack, thus averting the whole experience for Americans.
Did I just blow your mind?
All we have to do once such an amentment passes Congress is to convince 38 states to live within their means and not accept handouts from the Federal government, and your idea is home free!
What you are saying is it's impossible.
and they just got a juicy pay raise from Hussein Obama and cohorts. wtf.
Was just about to note the same.
http://www.youtube.com/watch?v=kHaaEDUzpMM
I find this video is a perfect metaphor for today's action in DC.
At 0:55 into the video, the commentator explains that "your had has to touch the ground"
Correction; "your HEAD has to touch the ground"
The market jumped off the cliff only to land on a balloon taking it higher and higher
Deception and smoke screen. Turn everyone else back into slavery before 2013 is here.
I'm giving it until midnight.
After that I resolve to a) increase my drinking and b) increase my speculating in the gun market.
As a preface, I do not trade. I think I made 30 trades this year.
For the fuck of it I shorted VXX a few hours ago because I have the day off and I felt this urge to do the exact opposite of what a rational person would do.
And Im rewarded... WTF?
Why shouldnt I just BTFD? As long as the world doesn't completely end, these fuckers will figure out a way to keep their assets high in price. Why not join in?
Does this mean the plunge protection team and other market intervention groups lose their funding?
Know what THAT means? Last time they couldn't game the markets you saw a major uptick in metals...... I wonder if that's why Gold is headed up (or was the sole intent to paint the year end London close?)
I really did read that the "currency stabioilization fund" would be raided to buy time................................
Does this mean PPT is out of action?
Finally some good news!
Now we need to cut spending back to where we have a budget surplus and pay down the national debt [ or just default or print to so the default is not technically a default... LOL, return to a strict Constitutional much smaller federal government, establish a sound currency, throw out most of the CFR’s and start over with minimum educational and experience requirements for public office... - just imagine the global outbreak of peace if the American Federal Government and it's Military-Industrial complex masters had no credit line! ]
Dream on! :-)
McConnell said the deal was done in morning and then WH called and said it wanted to push back the automatic spending cuts they had already agreed to in earlier legislation. Now they want to push back already agreed to spending cuts and there are no new spending cuts in new "deal". The Dems are now playing the hollering/screaming game that the tax increases don't go far enough so that they can continue to have it both ways. Once Obama makes the debt ceiling go away with executive action we can move forward with unabated govt spending and the total destruction of the private sector.
The milk cliff is saved- the republicans saved their asses on that- it would have been a p.r. disaster.
Milk indeed...