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House Republicans Fold

Tyler Durden's picture


Presented with little comment (via Bloomberg):


It appears everyone grows tired of the pantomime, even the main actors. Well that was fun while it lasted...


Is this how Boehner feels?

And is Cantor warming up his gavel?


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Tue, 01/01/2013 - 21:06 | 3113325 a growing concern
a growing concern's picture

Fuck you, Bernanke!

Tue, 01/01/2013 - 21:08 | 3113336 john39
john39's picture

Fuck you organized crime cabal running the central banking enslavement scam.

Tue, 01/01/2013 - 21:17 | 3113384 GetZeeGold
GetZeeGold's picture



Buncha pussies.

Tue, 01/01/2013 - 21:21 | 3113403 maxmad
maxmad's picture

Fold like one of my cheap azz suits!!  Cowards!

Tue, 01/01/2013 - 21:31 | 3113448 spastic_colon
spastic_colon's picture

obama gave everyone a raise last minute, he can even buy rebub votes, why would any of them even pretend that they were gonna try and send this back?

Tue, 01/01/2013 - 21:46 | 3113497 TruthInSunshine
TruthInSunshine's picture

 Kabuki Theater of The Worst Kind, Bitchez Tue, 12/11/2012 - 12:40 | 




"Let me state this clearly, yet again, as many here and elsewhere have as well:  This is all theater. The fiscal cliff is a non-issue. Both "different" parties will agree on something, if they haven't done so already, that manages to screw over the largest % of actually productive businesses and people in the U.S., soon."

Having predicted this, as so many others did, this will be the biggest sell the news event (regardless of short term action) that most will be able to recall. The secular bear that's been on the rampage for 12+ years now is just getting warmed up (think about the Nikkei's 23 year 94% haircut in real terms). Just stay out of massively rigged casinos, save real wealth, and ignore the Ponzi, and you will see the Muppets (the ones that are left) get anally raped yet again.

Tue, 01/01/2013 - 21:51 | 3113523 redpill
redpill's picture

This "deal" is nothing short of treason.  The current elected officials are a clear and present danger to the security of the United States and its Constitution.


Tue, 01/01/2013 - 21:57 | 3113543 10mm
10mm's picture

Constitution,did I hear constitution.

Tue, 01/01/2013 - 22:02 | 3113549 SafelyGraze
SafelyGraze's picture

empire: and now, sheep .. you will die

sheep: don't taze me, bro

MSM: actually, debt-tasers are good for you

Tue, 01/01/2013 - 22:10 | 3113589 dwdollar
dwdollar's picture

Next up... gutting of the 2nd Amendment. Anyone still believe it isn't possible???

Your Repubicunts won't let you down!!!

Tue, 01/01/2013 - 22:58 | 3113683 fockewulf190
fockewulf190's picture

I love the smell of $4 trillion bucks vaporizing in the morning.

This farce ensures the destruction of the dollar. Keep stacking your phyzz for all your worth. The "Great Reset" will hit humanity like a gigantic fiscal scyth....and there will be blood.

Wed, 01/02/2013 - 00:14 | 3113877 Anusocracy
Anusocracy's picture

Government, the enemy of the people. Always has been.

Four hundred million dead at the hands of government in the 20th century. How many in the 21st?

When will people learn? Never?

Wed, 01/02/2013 - 07:55 | 3114353 fockewulf190
fockewulf190's picture

They will learn when wheelbarrows start trading on the CME as the new, hot, commodity.

Tue, 01/01/2013 - 22:33 | 3113664 Fake Jim Quinn
Fake Jim Quinn's picture

The NY Times, on Monday,  had an editorial piece from some Constitutional law professor saying he believes the Constitution is archaic and should routinely be disobeyed. He cited examples of the founders even doing so. Stand by fellow ZHers, the groundwork is being laid for the full end of the USA as we understand it. See the piece here:

Tue, 01/01/2013 - 22:57 | 3113712 surf0766
surf0766's picture

That groundwork started over 100 years ago in 1875 when the first socialist party in the U.S was started.

It is like finding out that we have not repaid out debt since 1959. Shocking at first then the realization sets in that we have been trained for decades to the idea of marxism or NWO whichever term you prefer.



Wed, 01/02/2013 - 00:31 | 3113930 Anusocracy
Anusocracy's picture

The groundwork was laid with the Constitution.

The left and right built the structure.

Wed, 01/02/2013 - 09:09 | 3114466 CH1
CH1's picture

The left and right built the structure.

Parties built the structure. They weren't always denominated as left and right, as in our time.

George Washington warned about precisely that in his Farewell Address, only at that time, they said faction rather than party.

Wed, 01/02/2013 - 03:18 | 3114216 AgAu_man
AgAu_man's picture

For Chrissake, look at the author gents.  Need we say more?

Tue, 01/01/2013 - 23:34 | 3113784 Go Tribe
Go Tribe's picture

The Constitution has been shredded so many times in the last 150 years that it's unrecognizable and now ignorable. For all intents and purposes, it doesn't exist. Complain too loudly and you can be arrested and put away forever without a trial.

Wed, 01/02/2013 - 11:59 | 3114934 bushwarcrime
bushwarcrime's picture

Yeah, but it's only since the end of WW2 that the M.I.C. has gained control, and please spare me the Reaganisms,  I just watched "Iron Lady" .  High and mighty thinking only goes so far when the cheap oil runs out.

Tue, 01/01/2013 - 21:51 | 3113530 fonzannoon
fonzannoon's picture

Truthinsunshine you are a lot wiser than I am but if this thing passes in it's current form and the div/cap gains rate goes to 20% only for those above 450k It's possible a huge rally happens. I am convinced at some point Bernak walked in that room and said "don't fuck with the market. You break my toy and it's game over" and walked out.

I will go even further. The 10yr could go to 2% in January. People start getting nervous that the big rate rise is finally here. If the S&P is rallying hard all through Jan the repubs make some big hardball speech about holding the line on the debt ceiling. The 10yr falls back to 1.5% in late feb. The bond shorts take it in the ding dong. They eventually punt the debt ceiling. Market rallies. Rinse, repeat.

Tue, 01/01/2013 - 22:05 | 3113570 WonderDawg
WonderDawg's picture

Sounds great, until one of the ratings agencies pisses all over it and we get another downgrade. Then what?

Tue, 01/01/2013 - 22:09 | 3113585 fonzannoon
fonzannoon's picture

The ratings agencies are just part of the play. They do what they are told.

This will not end well. We all agree on that. But I highly doubt it will be because a ratings agency got religious and declared us junk, which is what we are. The people that work for these agencies probably get paid in dollars and live a somewhat regular life. This would be like them blowing their brains out. We will be extremely highly rated right up till the end. Just like Lehman etc.

Tue, 01/01/2013 - 23:26 | 3113759 The Alarmist
The Alarmist's picture

SEC is in the process of hiring two high-level staff accountants/ auditors to look specifically at the NRSOs ... don't worry your pretty little head over future downgrades.

Tue, 01/01/2013 - 23:54 | 3113806 yogibear
yogibear's picture

Porn usage will go up at the SEC.

Tue, 01/01/2013 - 22:16 | 3113601 TruthInSunshine
TruthInSunshine's picture

@fonz:  Why would a rally occur because capital gains rates and tax rates on dividend income rise by 25% (from 15% at federal level now to 20% at federal level) on upper income taxpayers & remain the same on those in lower tax brackets (even assuming they do)?

The equity market is priced at nosebleed levels and has actually lost 55% in value in real terms in the last 13 years (assuming one was indexed, rather than "picking stocks"-- which very likely could have and did blow them up many times over).

Tue, 01/01/2013 - 22:21 | 3113622 fonzannoon
fonzannoon's picture

So this is just my 2 cents. I believe the fact that it is going to 20% from 15% only on those who make 400k plus is a much smaller increase than what a lot of people believe O wanted. I personally (not that it means anything) figured we were going to 25-30% on anyone over 250k.

I really thought he was going to take a good whack at the market. I must be stupid to not have realized that he has been the market's best friend from day 1.  As I said above I also think that is a product of Bernak getting in there and making sure nobody pissed on his sand castle.

If this passes CNBC etc. will be pounding the dividend payers tomorrow. I am not saying anything is fixed. But I think it could be good for a 10% pop to start the new year.

Anyone else feel free to chime in here. Am I wrong in thinking this was a smaller hike than expected?

- I am in no way arguing your long term point. This is a secular bear market and even with the fed in there I think we head lower over time.

Tue, 01/01/2013 - 22:25 | 3113637 TruthInSunshine
TruthInSunshine's picture

I totally disagree.

The bullish meme would have been a permament extension of the "Bush tax cuts," which would have made permanent the 15% federal tax rate on both capital gains and dividend income, and the operating assumption by "those in the know" for many, many months now was this was a fait accompli.

Tue, 01/01/2013 - 22:32 | 3113660 fonzannoon
fonzannoon's picture

Wow, interesting. I see that aspect totally different. Then again it is not really that interesting because all I am really making a case for here is a short lived rally. But I would not put any chips on it either way. I have no doubt that tomorrow am that monkey Cramer will be all over this as extremely bullish along with the rest of those ass clowns. The market is our last fake piece of wealth for a lot of people. I think they will push it as hard as they can for as long as they can. Interest rates cannot go up and the market cannot go down. From here on out it is just not allowed.


Tue, 01/01/2013 - 22:41 | 3113682 TruthInSunshine
TruthInSunshine's picture

The inititial bullshit was about saving 1.6 trillion over a decade through smoke & mirror cuts, and that would have somehow allowed for the the Bush capital gains and dividend interest tax rates to become permanent for all but the very wealthy (e.g. a million in annual income or more), and maybe even not for those households if enough "savings" via cuts could happen.

Now, there will be tax rate hikes and loss of deductions (also known as tax hikes) on not just the upper income households, but anyone who is a net payer of taxes (think AMT, etc.).

This is now going to turn into a piecemeal, even more politicized process, laden with a ton of uncertainty, where the only thing currently known is tax rates will rise as will the debt (which is in significant part the opposite of what was supposed to have happened).

Tue, 01/01/2013 - 22:59 | 3113695 fonzannoon
fonzannoon's picture

I thought the loss of deductions only applied to those over the 450k threshold and that most people avoided the amt bullet if this passes. Basically, other than the payroll tax going up, my impression is everyone under 450k won't see that big of a difference. I am confident most people above 450k will find a way around this.

I do not in anyway disagree with your larger point. I just think when you have a Bernanke, every problem can be QE'd. That can go a long way, especially with the reserve currency, until it no longer works.

Tue, 01/01/2013 - 23:17 | 3113747 Everybodys All ...
Everybodys All American's picture

Don't forget Obamacare will add an additional 3.8% to all capital gains and dividends on all tax payers as well beginning in 2013. Happy New Years btw.

Tue, 01/01/2013 - 23:31 | 3113776 fonzannoon
fonzannoon's picture

Great point and happy new years to you as well.

Tue, 01/01/2013 - 23:35 | 3113783 TruthInSunshine
TruthInSunshine's picture

Happy New Year to all fellow ZHers.

*I have many people on my zhchat list, but don't understand what the benefit is, as I never get insta-messages (maybe because I run with adblock+, https everywhere, ghostery and betterprivacy?).

Tue, 01/01/2013 - 23:46 | 3113798 Miffed Microbio...
Miffed Microbiologist's picture

Yeah TIS, I had the same question. Mr Miffed told me zhchat doesn't work on my iPad. Since that's all I have I'm kind of SOL. Makes it hard to contact someone unless mr miffed sets it up on his PC.


Tue, 01/01/2013 - 22:25 | 3113642 I am a Man I am...
I am a Man I am Forty's picture

You contradict yourself, stay out of the market, you will lose.  Market is going higher.

Tue, 01/01/2013 - 22:33 | 3113663 akak
akak's picture

A "market" is a nexus of open and honest exchanges transparently conducted by two parties in good faith, with prices determined solely by relative supply and demand.

Where do you see any such thing today?

Tue, 01/01/2013 - 22:35 | 3113672 fonzannoon
fonzannoon's picture

Thanks for saying it better than I can with less words Akak. This is not a market. It is a mechanism to perpetuate the idea that people still have some wealth. It will fail to hold up at some point. But until then people on here will continue to get skewered thinking they can profit from understanding the big picture.

Tue, 01/01/2013 - 22:50 | 3113697 WonderDawg
WonderDawg's picture

You make a good point. People betting against the Fed have had their ass handed to them the last 3 years. But, the effects of each QE iteration are less dramatic and of shorter duration. We're still below the Sept 14th highs of 2 QE's ago. The market has had some ups and downs, but you can't say the intermediate term trend is up. I agree with you and Akak that this is not a market, and trying to profit from what the big picture tells you it should be doing has probably wrecked quite a few portfolios. At this point, I still think that after an initial ramp, this will be a sell the news event, but I've been wrong enough times to know that nothing is certain, and nothing is what it seems. One day, though, it's gonna be a helluva short.

Tue, 01/01/2013 - 22:54 | 3113707 fonzannoon
fonzannoon's picture

You know I don't even think the bears will get their day in the sun anymore. This market is so far gone, when it drops, it will drop so fast and so hard they will basically shut it off and call it some kind of tech malfunction. At that point we enter total chaos. I know that sounds nuts.

Tue, 01/01/2013 - 23:07 | 3113729 WonderDawg
WonderDawg's picture

I get it. I'm starting to feel the same way. If it happens that way, I don't think gold and silver will save you, either. I don't know what it's going to look like when it happens, but I do think it happens in my life time, and I do think it's going to be a fugly mess.

Wed, 01/02/2013 - 05:28 | 3114284 HeadintheGame
HeadintheGame's picture

Skull and Crossbones eh?  Looks like a frat pin I used to wear a hundred years ago.  Yo?


Wed, 01/02/2013 - 00:30 | 3113929 Oldwood
Oldwood's picture

How do we stop them from burning down the house if we keep paying for their gas?

Wed, 01/02/2013 - 12:14 | 3114964 bushwarcrime
bushwarcrime's picture

I don't know where you guys grew up but where I did 250K is a boat load of money.  If you can't get by on it you must be effed up.  If you complain about how much you take home on 250K you are spending way too much on god knows what.  If you think taxing people over 450K is going to hurt the economy, move to Alaska or Montana and be a hero tough guy. Taxing capital gains?  Joe 6 chins has never received capital gains.  Jane 60 inch waist doesn't know what the eff a dividend is.

Tue, 01/01/2013 - 23:35 | 3113786 bonzo112358
bonzo112358's picture

I hate to agree but these money managers that are completely out of touch with the 99% will use this to rally the market probably for most of January.  If you have an itchy trigger finger to go short be careful, patient and watch for the roll over.  The higher the market goes the more there is to make on the short side.  Yes, we will continue to get bad macro numbers as we have been but they will simply blame that on the fiscal cliff not being resolved for the month of December and continue to buy the market.

Bad payroll this Friday?  Fiscal Cliff.  Bad earning in a few weeks?  Fiscal Cliff.  Not enough iWhatever sold for Christmas?  Fiscal Cliff.  We all know this will end badly and deservedly so.  I just hope I'm smart enough to notice and go short or at least be in all cash before it does.

Tue, 01/01/2013 - 22:06 | 3113573 GCT
GCT's picture

+1000 if I could TIS.  I knew they would pas the deal and most with any sense knew they would. Treason in my mind but what do I know.

Tue, 01/01/2013 - 22:26 | 3113641 Banksters
Banksters's picture

What, you mean the summer of recovery might be put off until 2020?  

Tue, 01/01/2013 - 22:28 | 3113650 Stoploss
Stoploss's picture

No, this is good.

Now we need to start the house resignations so the fascists have to own it.

They have to own it.

Fastest way to that end is mass resignations.

Stay the course and dump the rope in their lap.


Resign House members.

Tue, 01/01/2013 - 23:30 | 3113772 Albertarocks
Albertarocks's picture

Folded like a $10 tent.

Wed, 01/02/2013 - 05:33 | 3114286 HeadintheGame
HeadintheGame's picture

No, folding more like a three egg pudding.  They are disgusting.  Now Cantor votes "No" on a highly visable bill.  He is all the sudden a restrained conservative.  Gag me with a spoon.  The American people need a leader who has balls larger than beebees.  Cantor ain't it.  Walter Jones for SOTH. 

Tue, 01/01/2013 - 21:28 | 3113435 El Oregonian
El Oregonian's picture


Tue, 01/01/2013 - 21:42 | 3113503 QE49er
QE49er's picture

Republicans need a speech to get them back on track:

Tue, 01/01/2013 - 21:19 | 3113389 strannick
strannick's picture

Boehner, Cantor, Obama, Reid. You are the wind beneth golds wings...Who'da thought the heaviest of metals could fly so high, and run so wild and free...

Tue, 01/01/2013 - 21:25 | 3113422 CPL
CPL's picture

I've never seen food futures turn around so fast or so hard.  Time to stock up on some more stuff before this translates on grocery shelves and general availability...shit.

Tue, 01/01/2013 - 21:30 | 3113432 wee-weed up
wee-weed up's picture

This does NOT tell me what the final up-or-down House vote was! Come on ZH!

Tue, 01/01/2013 - 21:36 | 3113474 Boilermaker
Boilermaker's picture

It hasn't occurred yet, mornon.  It's a mere formality, anyway.  It's going to pass with overwhelming Republican support.

Tue, 01/01/2013 - 21:43 | 3113502 CPL
CPL's picture

Of course it will, that wasn't in question.  We knew the tap dancing and drama would keep it going to the 13th hour.  The question is who breaks first.  


The people or TPTB?  Things are going to get so much weirder.

Tue, 01/01/2013 - 21:59 | 3113550 wee-weed up
wee-weed up's picture

Gee thanks! And Happy Holidays to you too!

Just curious... what's a mornon?

Tue, 01/01/2013 - 22:04 | 3113565 CPL
CPL's picture

singular for morans.


Sent: "Hey pa look at those morans there!"

"shoot.  That one thar is a mornon."

Tue, 01/01/2013 - 22:18 | 3113617 wee-weed up
wee-weed up's picture

LOL! We all need to try to keep our sense of humor in this fiscal disaster.

Tue, 01/01/2013 - 23:07 | 3113728 ZeroAvatar
ZeroAvatar's picture

Rick Moranis:  "Honey, I shrunk the morons."  Morans.   Er, mornons.   MOrmons.  No, wait...............

Tue, 01/01/2013 - 22:07 | 3113578 El Oregonian
El Oregonian's picture

Just as with the Whitehouse and congress. MORNON!= MORe NONsense!

Tue, 01/01/2013 - 21:50 | 3113525 BooMushroom
BooMushroom's picture

Up or down votes are too transparent.

Tue, 01/01/2013 - 21:29 | 3113433 duo
duo's picture

Boner clearly doesn't have as hard of a head as Denard.

Tue, 01/01/2013 - 21:32 | 3113453 El Oregonian
El Oregonian's picture

"Boner clearly doesn't have as hard of a head as Denard."

No, Boner shot his wad awhile ago. Now he's looking for his car keys so he can sneak back home...

Tue, 01/01/2013 - 21:41 | 3113489 kridkrid
kridkrid's picture

That wasn't denard... it was Vincent Smith.  And that was one of the biggest hits I've ever seen.  Michigan had done a great job on Clowney all day, but you kind of knew it was going to happen eventually.

Tue, 01/01/2013 - 21:33 | 3113456 Deacon Frost
Deacon Frost's picture

Government indoctrinated trolls, are infiltrating their way in to the ZH forum, given the way negatives are distributed across the comments.

Tue, 01/01/2013 - 23:41 | 3113794 Chuck Walla
Chuck Walla's picture

Fuck you One World Socialists!


Tue, 01/01/2013 - 21:07 | 3113338 economics9698
economics9698's picture

Fascism wins again.  Buy ammo. 

Tue, 01/01/2013 - 21:15 | 3113378 I think I need ...
I think I need to buy a gun's picture

is everyone going to watch the discover financial national title game?

Tue, 01/01/2013 - 22:04 | 3113568 AlaricBalth
AlaricBalth's picture

What channel is Honey Boo Boo on?

Tue, 01/01/2013 - 21:20 | 3113402 ApollyonDestroy
ApollyonDestroy's picture


Tue, 01/01/2013 - 21:26 | 3113428 A Lunatic
A Lunatic's picture

Bye Bye. Game over Bitchez...........

Tue, 01/01/2013 - 21:17 | 3113390 The trend is yo...
The trend is your friend's picture

ES +36, DJIA +250.  My new year's less only makes me want to short and I just can't afford to lose any more money.

Tue, 01/01/2013 - 21:28 | 3113404 fonzannoon
fonzannoon's picture

I watch sports all the time and don't bet on it. You have to have some self control.

Tue, 01/01/2013 - 21:21 | 3113405 SheepDog-One
SheepDog-One's picture

Sell the news.

Tue, 01/01/2013 - 21:29 | 3113427 derek_vineyard
derek_vineyard's picture

those are mondays futures close  *the +36/250 which were actually +39/248

Tue, 01/01/2013 - 21:27 | 3113431 Everyman
Everyman's picture

Those are closing numbers.  Futures do not open till the AM.

Tue, 01/01/2013 - 21:59 | 3113537 NoDebt
NoDebt's picture

Nothing wrong with going long and making some money.  I was out shortly after the elections so it looks like I'm going to feather back in starting at about the same point, minus the roller-coaster ride (was hoping for a lower re-entry point, but that's not to be).  Just use some of the profits to buy gold.

Believe me when I tell you the Fed and their partners in crime WILL LOSE CONTROL OF THIS SOMEDAY.  But that day will not be today or tomorrow.

Wish I could say I was wrong about the outcome on this: taxes will go up, spending will not go down, move on (I've posted that comment exactly probably 6 or 7 times in the last 2 weeks on ZH).  For a few days I thought maybe I was going to be wrong, but the Status Quo did it's job, as they are paid to do, if not without some scares along the way.

Tue, 01/01/2013 - 21:23 | 3113412 Blano
Blano's picture

No, fuck the House Republicans.

And these are the guys we're depending on to keep the left from going after our guns??? 


Tue, 01/01/2013 - 21:32 | 3113454 kliguy38
kliguy38's picture

Both sides have their marching orders from the same source.....if they want the guns then they will take them.

Tue, 01/01/2013 - 21:40 | 3113488 1100-TACTICAL-12
1100-TACTICAL-12's picture

Cold dead hands..

Wed, 01/02/2013 - 00:13 | 3113733 Dr. Engali
Dr. Engali's picture

No ......we are going to rely on ourselves to keep all of them from coming after our guns. The repukes have shown that they are balless bitches who can not be counted on. Don't rely on those fascist fucks for anything.

Tue, 01/01/2013 - 21:23 | 3113413 ball-and-chain
ball-and-chain's picture

The fiscal cliff...

It was a lot of smoke without a fire.

The republicans were merely posturing.

Obama wins again.

Tue, 01/01/2013 - 22:07 | 3113577 davidsmith
davidsmith's picture

From the wire:




It turns out that there aren't nearly enough votes to pass it--even with arm-twisting.

Tue, 01/01/2013 - 21:06 | 3113326 Karlus
Karlus's picture

Progress, bitchez

Tue, 01/01/2013 - 21:17 | 3113388 GetZeeGold
GetZeeGold's picture



Republican progressivism.

Tue, 01/01/2013 - 21:30 | 3113439 GOSPLAN HERO
GOSPLAN HERO's picture

Karlus, are you a demon or just a normal looking Dem?

Tue, 01/01/2013 - 23:05 | 3113694 Karlus
Karlus's picture

Read my other comments, im pretty much a Texas living, finance working, gold hoarding, ammo buying nut.

Im actually shocked you think Im a Dem....

The avatar is a Sphynx cat, and I agree, he looks absolutely demonic.

Tue, 01/01/2013 - 21:06 | 3113327 ihedgemyhedges
ihedgemyhedges's picture

And the system wins again........................

Tue, 01/01/2013 - 21:12 | 3113364 Boilermaker
Boilermaker's picture

Wall Street gets what Wall Street wants.  Get all wrapped up on the party politics all you want.  They are both little bitches to the 'market'.

Tue, 01/01/2013 - 21:07 | 3113332 B-rock
B-rock's picture

What a joke. A money-making joke, but a joke nontheless.

Tue, 01/01/2013 - 21:07 | 3113333 surf0766
surf0766's picture

Who got paid?

Tue, 01/01/2013 - 21:13 | 3113369 CPL
CPL's picture

Well we all did!


horray.  it's solved...<sigh>

Tue, 01/01/2013 - 22:03 | 3113559 knukles
knukles's picture

Who got paid!
Who Got Fucking Paid?

Tell ya' who got fucking paid.  A whole buncha Democrats telling their leaders that to vote for this shit, what with their constituency back home all worried about deficits (ha ha ha) they better be able to deliver some big ass pork soon... even if they didn't have to one Goddamned bit.
And any Republicans straight out of the same story play book.
Scratch my nuts, I'll lick yours.

My daddy and his pals used to call this "log rolling"

And the bills for it are gonna mount up so fast.... you ain't seen outta control spending, yet.  No siree.  The Bushies showed the Dems how the Repubs could spend, the Dems learned well, tripled down and now, there's no stopping the whole Juggernaut 

Tue, 01/01/2013 - 21:07 | 3113335 fonzannoon
fonzannoon's picture

We live in a one party world. Did anyone really expect anything different? Now we get some debt ceiling threats, and they will all fold again. No need for the Bernak to nudge the gas. 85 bil is fine for now. Move along, sorry shorts.

Tue, 01/01/2013 - 21:11 | 3113337 Conman
Conman's picture

Now we know who was selling puts on monday. Good job saving the market.. i mean the US <chuckle>.

Tue, 01/01/2013 - 21:08 | 3113339 pacu44
pacu44's picture

Lindsey Graham called it... Yet they wont give up so easily when it is something they want like war in every country on the globe

Tue, 01/01/2013 - 21:26 | 3113416 akak
akak's picture

Lindsey Graham, LOL!

That chickenhawk neocon bastard is simply itching to march every young American male off to endless war, and yet he STILL can't even muster up the courage to finally come out of the closet.

Tue, 01/01/2013 - 21:29 | 3113443 kliguy38
kliguy38's picture

You mean he's GAY??? No WAY! 

Tue, 01/01/2013 - 21:53 | 3113532 CPL
CPL's picture

More flames than a prarie wildfire!

Tue, 01/01/2013 - 22:01 | 3113555 akak
akak's picture


Tue, 01/01/2013 - 22:02 | 3113562 SpykerSpeed
SpykerSpeed's picture

I'm a gay man from South Carolina and I think Lindsey Graham is a rusty cuntbucket with a military fetish.

Tue, 01/01/2013 - 21:08 | 3113341 jldpc
jldpc's picture

I am long the market - why is anyone surprised? the gutless clowns can always becounted on to do the status quo; even if it leads to ultimate suicide. Just play their stupidity - how can you lose? !!!!!!!!

Tue, 01/01/2013 - 21:12 | 3113368 john39
john39's picture

One of these days, and probably not long, they will pull the plug.

Tue, 01/01/2013 - 21:21 | 3113407 kridkrid
kridkrid's picture

They won't "pull the plug" as much as they will escalate WWIII, which has already started, it just looks a little different than what we see on the History Channel. Give it time.

Tue, 01/01/2013 - 21:44 | 3113507 strongband
strongband's picture

Like History Channel? Great, so we'll all become pickers, ice road truckers and storage squirrels. Yay.

Tue, 01/01/2013 - 22:10 | 3113587 kridkrid
kridkrid's picture

Ha. Good point.

Tue, 01/01/2013 - 21:08 | 3113342 inevitablecollapse
inevitablecollapse's picture

shocking - i seem to recall several prognosticators stating that obama wanted to go over the cliff - what happened?

Tue, 01/01/2013 - 21:13 | 3113370 inevitablecollapse
inevitablecollapse's picture

FWIW (and for whomever junked me), this wasn't a loaded question, if someone felt that way, I really would like to know what happened

Tue, 01/01/2013 - 21:34 | 3113399 fonzannoon
fonzannoon's picture

I'm up arrowing you. It is a great question. Look at all the theories get debunked lately. The market would hold up till just after the election, then freefall. They would keep threatening QE, and never actually do QE3. Obama wants to go over the cliff. Even the "bloodbath" article on here last week where "the market finally realizes it was the patsy all along". Only for another rally.

Maybe this is extremely simple. Maybe there is no need to complicate it. Maybe we will just plug every hole with QE until we are all rich and happy or we trash the currency to shit? Maybe that is the plan?

Great so we have 600 billion ion tax increases and no spending cuts, HEY RATINGS AGENCIES.....WHAT DO YOU THINK ABOUT THIS? Let me guess.....It's good enough.

Tue, 01/01/2013 - 21:35 | 3113468 Spastica Rex
Spastica Rex's picture

Every hole will be plugged until we have a new global feudal order with God in his Heaven, the chosen on their thrones, and all others (who still remain) in their proper places of servitude. It may take a long time. Enjoy the ride.

Tue, 01/01/2013 - 21:37 | 3113477 kridkrid
kridkrid's picture

There is only one play in the playbook.  Our monetary system is based on debt money which requires aggregate debt to be in a state of constant expansion.  When private debt can't expand, public debt is the lever that gets pulled. This was all show.  There was never going to be any cuts in gov't spending.... there won't be until after the system crashes.  What the "crash" looks like is anyone's guess... but if I had to guess, it looks like WWIII.

Tue, 01/01/2013 - 21:40 | 3113493 Spastica Rex
Spastica Rex's picture

I think it maybe looks like a bit like Mad Max, but slower and more boring.

Tue, 01/01/2013 - 21:50 | 3113522 kridkrid
kridkrid's picture

they are remaking Mad Max this year... filming now, I believe.  Perhaps it will be in theaters just in time to not need to be in theaters. 

Tue, 01/01/2013 - 22:01 | 3113557 Spastica Rex
Spastica Rex's picture

Thanks for the info.

Happy New Year, kk!

Tue, 01/01/2013 - 22:08 | 3113581 kridkrid
kridkrid's picture

And to you. All the best in 2013.

Tue, 01/01/2013 - 21:55 | 3113536 fonzannoon
fonzannoon's picture

Think Russia.

Tue, 01/01/2013 - 22:11 | 3113594 knukles
knukles's picture

No need to build any apocalyptic sets......

Tue, 01/01/2013 - 21:29 | 3113437 lakecity55
lakecity55's picture

Man, it's the Mad Arrow! Some guy who puts a -1 on you if you post anything negative about the o-phone.

(I think it's Barry or Larry or reggie).

Tue, 01/01/2013 - 21:40 | 3113476 surf0766
surf0766's picture

I still believe he wanted the cliff. He got a tax increase on 77% of the population and another stimulus spending spreed for green energy shit and another round of unemployment bennies. Anything that hastens the collapse of capitalism is what they push through.




It was a good question. This process of doing away with capitalism started somewhere around 1875.

Tue, 01/01/2013 - 21:54 | 3113534 Renewable Life
Renewable Life's picture

I also believe he would have been absolutely fine with going over and starting the debt ceiling debate with people crying for help by the the millions, for the government to save them!

However, he sensed politically it seems, just how pathetic and scared and unorganized the GOP really was, and went for the kill!!

Doesn't change the premise, he wanted to over! But politically he knows now the GOP is dead forever, WITH THEIR BASE, on the issues of holding taxes down and never voting for a tax increase! That was worth more obviously!

Tue, 01/01/2013 - 22:25 | 3113640 swmnguy
swmnguy's picture

You seem to think there's some sort of meaningful conflict between the Republicans and the Democrats?

Tue, 01/01/2013 - 23:03 | 3113720 Renewable Life
Renewable Life's picture

The conflict isn't between the politicians, it's between the people who vote for republicans and there sold out, broke down, paid off, corrupt party that they convinced themselves was about: small government, low taxes, indivdual freedoms and personal liberty, and personal accountability!!

People who vote democrat, don't have the same conflictions or dillusions!

Waking up from a complete lie, is a very startling and enraging process!! Should be interesting to see what conservative folks do next out on the street??

Tue, 01/01/2013 - 23:54 | 3113805 mtomato2
mtomato2's picture

Thank you. Very insightful and painfully honest post. I've felt that way for quite some time, just didn't know how to articulate it. Especially the part about the democrats not lying to themselves. Especially. Even though their entire doctrine is based on a lie, at least theyre truthful about it.

Tue, 01/01/2013 - 22:04 | 3113566 inevitablecollapse
inevitablecollapse's picture

thanks for the responses - this whole day has been grossly 'entertaining', i'll keep doing what i've been doing, which i'm assuming is what a lot of you all are doing

Tue, 01/01/2013 - 23:55 | 3113810 mtomato2
mtomato2's picture


Tue, 01/01/2013 - 22:53 | 3113703 Karlus
Karlus's picture

"...prognosticators stating that obama wanted to go over the cliff - what happened?"

Seemed he got everything that he wanted. Sure he wanted to go over the cliff and crucify the Repubs, but that was hard to do when the agreement is higher "revenue"(tax) and no cuts.

Tue, 01/01/2013 - 21:08 | 3113343 Boilermaker
Boilermaker's picture


Tue, 01/01/2013 - 21:19 | 3113398 UP Forester
UP Forester's picture

I have unexpected irrational exuberance.....


Tue, 01/01/2013 - 21:29 | 3113438 A Lunatic
A Lunatic's picture

Just wait a few minutes, It's transitory...........

Tue, 01/01/2013 - 21:09 | 3113346 HelluvaEngineer
HelluvaEngineer's picture

Globalists win.  I closed all shorts.  Congrats.  Now the real game begins, you fucking idiots.

Tue, 01/01/2013 - 21:09 | 3113348 surf0766
surf0766's picture

This should bring a downgrade.

Tue, 01/01/2013 - 21:12 | 3113366 SHEEPFUKKER

By Egan Jones most assuredly.  Dude from S & P got whacked after that last downgrade.  Whose else gonna do it Uncle Warren's Moody's?? 

Tue, 01/01/2013 - 21:15 | 3113380 surf0766
surf0766's picture

Can the TD's start their own agency?

Tue, 01/01/2013 - 21:20 | 3113401 UP Forester
UP Forester's picture

ABC Media ratings, brought to you by GS?

Tue, 01/01/2013 - 21:32 | 3113445 A Lunatic
A Lunatic's picture

If they started their own country (outside of a FEMA camp) I'd apply. Hopefully they would think I seemed cool enough...........

Tue, 01/01/2013 - 21:40 | 3113487 MiguelitoRaton
MiguelitoRaton's picture

S&P CEO learned what happens when you downgrade King Obama's debt house of downgrade coming

Tue, 01/01/2013 - 21:09 | 3113350 Boilermaker
Boilermaker's picture

ES Over / Under at the open:  40 handles

Place your bets.

Tue, 01/01/2013 - 21:11 | 3113360 surf0766
surf0766's picture

Under. It is already priced in.

Tue, 01/01/2013 - 21:20 | 3113400 Boilermaker
Boilermaker's picture

Well, I'll take the over.

Why in the hell wouldn't they ram the shit out of it?  That would be 'confirmation' that the deal is the 'right' deal.

Tue, 01/01/2013 - 21:25 | 3113423 michiganmaven
michiganmaven's picture

I will take the under but keep a close eye on the fucking ram job that is going to be attempted

Tue, 01/01/2013 - 21:28 | 3113434 GrinandBearit
GrinandBearit's picture


I agree... already priced in.

Tue, 01/01/2013 - 21:10 | 3113351 Snakeeyes
Snakeeyes's picture

Yup. Republicans surrender and Bernanke now has to buy trillions of bonds.

Tue, 01/01/2013 - 21:22 | 3113411 Clint Liquor
Clint Liquor's picture

Fuck Ben, I hope he runs out of ink!

Tue, 01/01/2013 - 22:01 | 3113554 salvadordaly
salvadordaly's picture

OK now you are on to something! We find out who supplies the ink. WINK! WINK!

Tue, 01/01/2013 - 21:09 | 3113352 sunny
sunny's picture


Tue, 01/01/2013 - 21:10 | 3113355 michiganmaven
michiganmaven's picture

Buy the rumor sell the news? This crap is getting ridiculous....

Tue, 01/01/2013 - 21:11 | 3113356 Cult_of_Reason
Cult_of_Reason's picture

At least the Bush tax cuts for everyone below $400K ($450K for families) is permanent now (something that the Republicans could not even do when they controlled both houses and WH) -- this is a huge victory for the Republicans (and 99% of US taxpayers).

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