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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 | 3110443 Gypsyducks
Gypsyducks's picture

BULLISH!

Mon, 12/31/2012 - 17:03 | 3110444 buzzsaw99
buzzsaw99's picture

Bullish

Mon, 12/31/2012 - 17:03 | 3110448 Beam Me Up Scotty
Beam Me Up Scotty's picture

Bullshit!!!

Mon, 12/31/2012 - 17:09 | 3110483 CrockettAlmanac.com
CrockettAlmanac.com's picture

That's some synchronicity you guys got going there.

Mon, 12/31/2012 - 17:11 | 3110493 Beam Me Up Scotty
Beam Me Up Scotty's picture

I had to fix it for them....

Mon, 12/31/2012 - 17:17 | 3110532 SILVERGEDDON
SILVERGEDDON's picture

BULLSHITTERS BULLSHITTING THE SHIT UPON - LIVE ON FAUX NEWS AT 11 !!!!!

Mon, 12/31/2012 - 17:52 | 3110683 Freddie
Freddie's picture

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.

Mon, 12/31/2012 - 18:19 | 3110771 knowless
knowless's picture

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

Mon, 12/31/2012 - 19:57 | 3111030 SILVERGEDDON
SILVERGEDDON's picture

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. 

Tue, 01/01/2013 - 05:47 | 3111726 Likstane
Likstane's picture

feelings hurt? shut up you pussy.

Wed, 01/02/2013 - 02:48 | 3114191 SILVERGEDDON
SILVERGEDDON's picture

Blow me, troll bait.

Mon, 12/31/2012 - 20:07 | 3111059 negative rates
negative rates's picture

Yes, but still all in the name of the Queen!

Mon, 12/31/2012 - 22:08 | 3111283 Tango in the Blight
Tango in the Blight's picture

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!

Tue, 01/01/2013 - 02:03 | 3111642 Freddie
Freddie's picture

+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.

Mon, 12/31/2012 - 17:04 | 3110450 Anglo Hondo
Anglo Hondo's picture

Don't forget to pull the handle on the way down - the 'chute won't open otherwise.

Mon, 12/31/2012 - 17:16 | 3110534 Bastiat
Bastiat's picture

Which is the handle?

Mon, 12/31/2012 - 22:18 | 3111300 knukles
knukles's picture

Gotta pull the charging handle twice on a duce, kids.

Mon, 12/31/2012 - 17:04 | 3110452 Iriestx
Iriestx's picture

Armadeggon, bitches!

Mon, 12/31/2012 - 18:21 | 3110777 knowless
knowless's picture

motherfuckers still gonna get payed. not there yet. crime has to spike for the inevitable retaliation against the peaceful.

Mon, 12/31/2012 - 17:04 | 3110453 Top_Kill
Top_Kill's picture

I can only stomache CNBC now for about 15 seconds. This media controlled reality is sickening. Stop the ride, I want off.

Mon, 12/31/2012 - 17:13 | 3110488 nonclaim
nonclaim's picture

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!

Mon, 12/31/2012 - 17:22 | 3110560 Boston
Boston's picture

I pulled the plug, literally, a month ago. Had my TV removed from my office. Since then, my stress level has gone down....markedly.

Mon, 12/31/2012 - 17:39 | 3110634 JLee2027
JLee2027's picture

Thomas Jefferson once remarked he was a much happier man when he didn't read the newspaper.

Mon, 12/31/2012 - 22:19 | 3111303 knukles
knukles's picture

Except for the cartoons and crossword.
Or was that Hellen Keller?

Mon, 12/31/2012 - 17:56 | 3110702 Freddie
Freddie's picture

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.

Mon, 12/31/2012 - 22:11 | 3111286 itstippy
itstippy's picture

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. 

Mon, 12/31/2012 - 18:08 | 3110741 azzhatter
azzhatter's picture

the congress forgot to "Rise Above"   However I heard LIESman was offering to blow anyone that supports more QE

Mon, 12/31/2012 - 17:04 | 3110454 ghostfaceinvestah
ghostfaceinvestah's picture

Thank God, hopefully that means there will be no last-minute, higher-taxes-and-no-spending-cut deal.

CUT SPENDING NOW!!

Mon, 12/31/2012 - 17:07 | 3110457 ptoemmes
ptoemmes's picture

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.

Mon, 12/31/2012 - 17:05 | 3110461 max2205
max2205's picture

BTFD!

Mon, 12/31/2012 - 17:05 | 3110462 Jacque Itch
Jacque Itch's picture

Ooooooh that Potter fella done real good with stocks today (notice I didn't use the word 'markets')!

 

Mon, 12/31/2012 - 17:05 | 3110463 BlueStreet
BlueStreet's picture

Time to appoint Ron Paul czar.

Mon, 12/31/2012 - 17:11 | 3110492 CrockettAlmanac.com
CrockettAlmanac.com's picture

Dr. No doesn't do Czar.

Mon, 12/31/2012 - 17:23 | 3110567 GMadScientist
GMadScientist's picture

Do Czar Do Czar...(FEMA) Camptown Ladies sing this song....

Mon, 12/31/2012 - 17:51 | 3110673 CrockettAlmanac.com
CrockettAlmanac.com's picture

Alemande left and do-czar-do!

Mon, 12/31/2012 - 17:08 | 3110466 HD
HD's picture

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.

 

Mon, 12/31/2012 - 17:07 | 3110469 Dan Conway
Dan Conway's picture

I thought the idiot-in-chief said they were close?  Close to the edge!  hehehehehehe

Mon, 12/31/2012 - 18:08 | 3110745 Bollixed
Bollixed's picture

The Puppet just reads what's on the teleprompter.

Mon, 12/31/2012 - 17:06 | 3110470 stinkhammer
stinkhammer's picture

don't drive angry

Mon, 12/31/2012 - 17:07 | 3110472 NoDebt
NoDebt's picture

POSTED 1 MINUTE AFTER THE MARKET CLOSED!!!!

Damn, you can't pay for entertainment this good!

On second thought...

Mon, 12/31/2012 - 17:08 | 3110476 Everybodys All ...
Everybodys All American's picture

Who knew CNBC's John Harwood could be the biggest tool in DC. Well, I have to admit I did.

Mon, 12/31/2012 - 17:09 | 3110486 HD
HD's picture

 ...Joe Kernan that you?

Mon, 12/31/2012 - 17:08 | 3110479 cliffynator
cliffynator's picture

I don't friggin get it! Why does going over the Fiscal Cliff mean ramp the RUT & SPX  toward 2% & beyond???

Mon, 12/31/2012 - 18:36 | 3110808 knowless
knowless's picture

because automatic federal spending cuts.

essentially cutting the barbed wire.. graze free.

 

to the moon.

Mon, 12/31/2012 - 17:09 | 3110482 The Axe
The Axe's picture

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....

Mon, 12/31/2012 - 17:09 | 3110487 knicks3005
knicks3005's picture

Obama: This all the repbulicans fault, see? I told you. Oh well, back to Hawaii! 

Mon, 12/31/2012 - 17:14 | 3110512 CrockettAlmanac.com
CrockettAlmanac.com's picture

Beach Blanket 'Bama.

Mon, 12/31/2012 - 17:10 | 3110489 Undecided
Undecided's picture

Am i suppose to be drunk all ready for New Years?

Mon, 12/31/2012 - 18:37 | 3110814 knowless
knowless's picture

yes, unless somehow you have something more pressing to do.

 

did you hear they got osama?

Mon, 12/31/2012 - 19:36 | 3110972 Jena
Jena's picture

The rumor out of D.C. is GM is alive.

Mon, 12/31/2012 - 17:10 | 3110490 Bunga Bunga
Bunga Bunga's picture

Bunga Bunga!

Mon, 12/31/2012 - 17:14 | 3110511 Beam Me Up Scotty
Beam Me Up Scotty's picture

Today its Bunga Bunga.  Tomorrow its death by Bunga Bunga.

Mon, 12/31/2012 - 18:11 | 3110755 Bunga Bunga
Bunga Bunga's picture

bunga bunga always ends deadly

Mon, 12/31/2012 - 18:08 | 3110743 It is a bargin ...
It is a bargin my friend's picture

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

Mon, 12/31/2012 - 17:17 | 3110496 John Law Lives
John Law Lives's picture

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.

Mon, 12/31/2012 - 18:33 | 3110799 ElTerco
ElTerco's picture

 

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?

Tue, 01/01/2013 - 00:56 | 3111567 Matt
Matt's picture

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.

Mon, 12/31/2012 - 17:12 | 3110499 RmcAZ
RmcAZ's picture

PREPARE YOUR ANUS

Mon, 12/31/2012 - 18:10 | 3110749 Esso
Esso's picture

Ha! I'm gonna try that line on my wife tonight.

Been nice knowing you.

Mon, 12/31/2012 - 18:27 | 3110789 in-Credible Banker
in-Credible Banker's picture

Now THAT is some funny shit!  Here's to ya!

 

:)

Mon, 12/31/2012 - 19:36 | 3110978 centerline
centerline's picture

Only after the champagne (lots of it).  Any earlier would be suicide!

Mon, 12/31/2012 - 17:14 | 3110515 caimen garou
caimen garou's picture

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.

Mon, 12/31/2012 - 17:15 | 3110520 knicks3005
knicks3005's picture

Happy Brave New Year Bitchezzzzzzz!

Mon, 12/31/2012 - 17:15 | 3110526 Dr. Engali
Dr. Engali's picture

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!

Mon, 12/31/2012 - 17:21 | 3110557 Spastica Rex
Spastica Rex's picture

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. :(

Mon, 12/31/2012 - 17:32 | 3110603 Darksky
Darksky's picture

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.

Mon, 12/31/2012 - 17:46 | 3110659 stant
stant's picture

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

Mon, 12/31/2012 - 18:44 | 3110823 tenpanhandle
tenpanhandle's picture

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!

Mon, 12/31/2012 - 17:55 | 3110695 ClassicalLib17
ClassicalLib17's picture

I guess you'll be brown-baggin' it tonite outside your south central L.A liquor store, ey, Doc?

Mon, 12/31/2012 - 19:39 | 3110986 centerline
centerline's picture

That's a little closer to my budget lately.  lol.

Mon, 12/31/2012 - 17:17 | 3110537 q99x2
q99x2's picture

Happy Fuck You Bernanke New Year!

Mon, 12/31/2012 - 17:20 | 3110549 Bastiat
Bastiat's picture

 

 

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!"

Mon, 12/31/2012 - 17:26 | 3110581 GMadScientist
GMadScientist's picture

"Fuck you Troopah!" <thwack> 

Mon, 12/31/2012 - 21:19 | 3111208 Everybodys All ...
Everybodys All American's picture

+1

Mon, 12/31/2012 - 17:36 | 3110619 Overfed
Overfed's picture

I wish that could be my avvy.

Mon, 12/31/2012 - 17:38 | 3110625 Dr. Engali
Dr. Engali's picture

That was pretty funny.

Mon, 12/31/2012 - 20:11 | 3111069 Buckaroo Banzai
Buckaroo Banzai's picture

Good link and lots of interesting comments there too.

Mon, 12/31/2012 - 17:26 | 3110578 debtor of last ...
debtor of last resort's picture

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!

Mon, 12/31/2012 - 17:28 | 3110584 cavsgt
cavsgt's picture

These POS really worked the market today all for their own gain. No deal is going to happen.

Mon, 12/31/2012 - 17:28 | 3110586 stant
stant's picture

knob creek for me, molon labe bitchez

Mon, 12/31/2012 - 20:18 | 3111088 ebworthen
ebworthen's picture

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.

Mon, 12/31/2012 - 17:42 | 3110589 ebworthen
ebworthen's picture

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?

Mon, 12/31/2012 - 17:29 | 3110591 goldfish1
goldfish1's picture

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

Mon, 12/31/2012 - 17:30 | 3110594 Uncle Remus
Uncle Remus's picture

Is there time to tap Thelma or Louise?

Mon, 12/31/2012 - 18:02 | 3110720 ClassicalLib17
ClassicalLib17's picture

Whatever happened to Juliette Lewis?  She was a looker in my opinion.  I guess "was" probably answers my question. 

Mon, 12/31/2012 - 18:10 | 3110752 azzhatter
azzhatter's picture

I used to bang er....I ..mean date a girl named Julie Lewis. Sorry Julie it was only for the sex

Mon, 12/31/2012 - 20:51 | 3111162 TuesdayBen
TuesdayBen's picture

Hey, so did I!

Mon, 12/31/2012 - 17:32 | 3110607 Bear
Bear's picture

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.

Mon, 12/31/2012 - 17:33 | 3110609 koaj
koaj's picture

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

Mon, 12/31/2012 - 17:35 | 3110614 kekekekekekeke
kekekekekekeke's picture

any suggestions for good recent economic documentaries or videos on the fiscal cliff please? 

Mon, 12/31/2012 - 17:36 | 3110621 kekekekekekeke
kekekekekekeke's picture

also anyone see any ar 15 lowers in stock anywhere

Mon, 12/31/2012 - 17:55 | 3110676 Pool Shark
Pool Shark's picture

 

 

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

Mon, 12/31/2012 - 18:26 | 3110786 kekekekekekeke
kekekekekekeke's picture

yeah everything is backordered or unfinished or extremely expensive! Thanks

Mon, 12/31/2012 - 20:14 | 3111078 negative rates
negative rates's picture

Don't forget made to break, it has occasionally saved lives.

Mon, 12/31/2012 - 18:10 | 3110740 ClassicalLib17
ClassicalLib17's picture

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. 

Mon, 12/31/2012 - 18:26 | 3110787 kekekekekekeke
kekekekekekeke's picture

nuts ain't it

Mon, 12/31/2012 - 18:44 | 3110822 JLee2027
JLee2027's picture

And it's only just started. The real crazy shit isn't here yet.

Mon, 12/31/2012 - 17:47 | 3110663 kekekekekekeke
kekekekekekeke's picture

thanks

Mon, 12/31/2012 - 19:07 | 3110886 mvsjcl
mvsjcl's picture

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 News
Mon, 12/31/2012 - 20:19 | 3111094 negative rates
negative rates's picture

Yea, 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.   

Mon, 12/31/2012 - 17:37 | 3110623 fattail
fattail's picture

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.

Mon, 12/31/2012 - 18:30 | 3110794 in-Credible Banker
in-Credible Banker's picture

Me too when I stopped shorting Treasuries.........

Mon, 12/31/2012 - 21:02 | 3111172 luckylogger
luckylogger's picture

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......................

Mon, 12/31/2012 - 17:38 | 3110624 Eric L. Prentis
Eric L. Prentis's picture

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.

Mon, 12/31/2012 - 17:39 | 3110629 Seasmoke
Seasmoke's picture

MISSION ACCOMPLISHED

Mon, 12/31/2012 - 17:39 | 3110631 Investor Wizard
Investor Wizard's picture

Forget the fiscal cliff, where will I get affordable cheddar aged for 6 years after the dairy cliff??

Mon, 12/31/2012 - 17:39 | 3110632 cherry picker
cherry picker's picture

Now that Russia cancelled American Adoptions, maybe we can have the Russians adopt congress and the President.   Simple solution to all our problems.

Mon, 12/31/2012 - 17:41 | 3110637 TheSilverJournal
TheSilverJournal's picture

Next FOMC statement to be released Jan. 25. How long until the front running begins?

http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

Mon, 12/31/2012 - 17:47 | 3110638 Pete15
Pete15's picture

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...

Mon, 12/31/2012 - 17:43 | 3110646 TheMayor
TheMayor's picture

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-...

 

Mon, 12/31/2012 - 18:07 | 3110739 SmoothCoolSmoke
SmoothCoolSmoke's picture

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?

 

Mon, 12/31/2012 - 20:22 | 3111099 Buckaroo Banzai
Buckaroo Banzai's picture

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

Mon, 12/31/2012 - 20:13 | 3111074 ebworthen
ebworthen's picture

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.

Mon, 12/31/2012 - 20:23 | 3111105 Buckaroo Banzai
Buckaroo Banzai's picture

Technically he's half white, quarter black, and quarter Arab... And ALL Muslim.

Mon, 12/31/2012 - 17:44 | 3110650 tooriskytoinvest
tooriskytoinvest's picture

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...

Mon, 12/31/2012 - 18:06 | 3110733 cynicalskeptic
cynicalskeptic's picture

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.

Mon, 12/31/2012 - 17:47 | 3110662 ZFiNX
ZFiNX's picture

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

Mon, 12/31/2012 - 17:54 | 3110689 Uncle Remus
Uncle Remus's picture

"Am I not merciful?"

Mon, 12/31/2012 - 17:59 | 3110707 akak
akak's picture

"If they don't respect me, how can they love me?"

Mon, 12/31/2012 - 18:04 | 3110726 Uncle Remus
Uncle Remus's picture

"Only my friends call me 'Big Kahuna' and I am not your friend."

Mon, 12/31/2012 - 20:25 | 3111108 Buckaroo Banzai
Buckaroo Banzai's picture

"We reward our friends, and punish our enemies."

Mon, 12/31/2012 - 18:02 | 3110721 Getting Old Sucks
Getting Old Sucks's picture

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.

Mon, 12/31/2012 - 17:50 | 3110672 Mad Muppet
Mad Muppet's picture

Moar and increasing QE? Is the trend still my friend?

Mon, 12/31/2012 - 17:51 | 3110679 Jack Sheet
Jack Sheet's picture

Where's Fart to Market with his meaningful posts?

Mon, 12/31/2012 - 18:13 | 3110758 azzhatter
azzhatter's picture

I fart in the general direction of the market daily

Mon, 12/31/2012 - 17:52 | 3110680 devo
devo's picture

Gold to the moon

Mon, 12/31/2012 - 17:52 | 3110682 conspicio
conspicio's picture

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.

Mon, 12/31/2012 - 18:48 | 3110685 ElTerco
ElTerco's picture

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.

Mon, 12/31/2012 - 17:54 | 3110690 H E D G E H O G
H E D G E H O G's picture

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........................

Mon, 12/31/2012 - 18:01 | 3110716 SmoothCoolSmoke
SmoothCoolSmoke's picture

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.

Mon, 12/31/2012 - 20:21 | 3111097 BlueCheeseBandit
BlueCheeseBandit's picture

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?

Mon, 12/31/2012 - 18:48 | 3110827 Zgangsta
Zgangsta's picture

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!

Mon, 12/31/2012 - 22:26 | 3111319 tenpanhandle
tenpanhandle's picture

What you are saying is it's impossible.

Mon, 12/31/2012 - 17:59 | 3110708 sgorem
sgorem's picture

and they just got a juicy pay raise from Hussein Obama and cohorts. wtf.

Mon, 12/31/2012 - 18:01 | 3110714 Bastiat
Bastiat's picture

Was just about to note the same.

 

Mon, 12/31/2012 - 17:59 | 3110709 Say What Again
Say What Again's picture

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"

 

 

Mon, 12/31/2012 - 18:00 | 3110712 Say What Again
Say What Again's picture

Correction; "your HEAD has to touch the ground"

Mon, 12/31/2012 - 18:35 | 3110802 Bear
Bear's picture

The market jumped off the cliff only to land on a balloon taking it higher and higher

Mon, 12/31/2012 - 18:00 | 3110710 reader2010
reader2010's picture

Deception and smoke screen. Turn everyone else back into slavery before 2013 is here.

Mon, 12/31/2012 - 18:01 | 3110711 toomanyfakecons...
toomanyfakeconservatives's picture

I'm giving it until midnight.

 

After that I resolve to a) increase my drinking and b) increase my speculating in the gun market.

Mon, 12/31/2012 - 18:00 | 3110713 Theos
Theos's picture

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?

Mon, 12/31/2012 - 18:03 | 3110727 cynicalskeptic
cynicalskeptic's picture

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?)

Mon, 12/31/2012 - 21:06 | 3111182 luckylogger
luckylogger's picture

I really did read that the "currency stabioilization fund" would be raided to buy time................................

Does this mean PPT is out of action?

Mon, 12/31/2012 - 18:05 | 3110729 SMC
SMC's picture

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! :-)

Mon, 12/31/2012 - 18:06 | 3110734 MyBrothersKeeper
MyBrothersKeeper's picture

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.

Mon, 12/31/2012 - 18:06 | 3110738 donkshover
donkshover's picture

The milk cliff is saved- the republicans saved their asses on that- it would have been a p.r. disaster.

Mon, 12/31/2012 - 21:30 | 3111225 The Alsatian
The Alsatian's picture

Milk indeed...

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