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Stocks Jump On NYT Rumor Of Boehner Debt Ceiling Deal
Update: Boehner spox says Boehner "has always said the US will not default on its debt but cuts and reforms" also needed. In other words, nothing new in what appears to be a planted NYT piece designed to reduce Boehner's leverage.
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Take the following report from the New York Times with an epic grain of salt, although for the time being, the following unsourced post in the NYT has pushed stocks off their lows.
"With a budget deal still elusive and a deadline approaching on raising the debt ceiling, Speaker John A. Boehner has told colleagues that he is determined to prevent a federal default and is willing to pass a measure through a combination of Republican and Democratic votes, according to one House Republican.
The lawmaker, who spoke on the condition of not being named, said Mr. Boehner indicated he would be willing to violate the so-called Hastert rule if necessary to pass a debt limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes."
Would the anonymous lawmaker happen to be Peter King, one wonders?
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Recall Peter King. EPIC PIECE OF SHIT STAIN.
Peter King = Dick Majesty
In 2011 when we had this shut down shit, afterwards, Gold and Silver went on to set new highs. This time, somehow, it will be seen as a way to take silver down. It is so blatant..
this effing crap is an inside traders dream - rumor no rumor trade put call rumor call rumor put call
how many new congressional millionaires by the end of this dance
Obama tries to tank the markets and Boenher flicks his finger and sez......I don't think so bitch.
You know it's not true based on how the market reacts.
If the market reversed 400 pts to the upside before the news came out, then it would be true.
In Bartaromo's words "Oh! The NEW YORK TIMES! Please..." waves hand in air and shakes head..
Rest assured that the kabuki Repubes, led by Peter Kungilinus, John McCanus, Lindsey Nancy Girl Graham & John Boner will not only fold, but they HAVE A BURNING DESIRE TO FOLD BECAUSE THEY'RE ON TEAM ELEPHANTITIS GOVERNMENT.
She is getting ready for her deposition in a divorce proceeding where the former wife of a Citibank exec wants to know what happened on that plane ride.
Don't end the fun yet, I love watching these guys get all pissy and try to scare everyone. Eventually people will realize they are full of shit.
neither party ever gave a shit about the debt ceiling being raised. If anything they will surprise the markets by eliminating it.
Re: Eventually people will realize they are full of shit.
If they haven't realized it over 200+ years it means they won't now. The reason is because 35% of humans have Red Team brains and 35% have Blue Team brains. The bullshit created by the teams causes brains of the respective dumbasses to believe (the self-delusion makes people happy). And beliefs don't change.
Redpill, been missing you.
You are not posting enough.
Get back on it!
Boehner needs to hang if he does this. Well he already needs to... but just hang him, revive him, hang him again.
We all knew it was coming. Rumors, lies and bullshit is all they got.
Boehner, you're a worthless fucking shape shifter... You're a maggot on the entrails of .gov! You're fucking toast from CONgress if you cave in...
And just like that, everyone stopped selling this and started buying that hand over fist.....yea whatever.
Doggone it, I woke up late again and missed the morning "dip".
<----- orange Boner?
<----- pink Boner?
Why do you think his nickname in the Congressional showers is Creamsicle?
Things are so bad with Budget cuts... that John Boehner can’t afford tanning cream anymore. He’s just rubbing his face with Cheetos dust.
So less the 20 hours ago O"Boner met with O'Faggot and nothing happened now thay have struck a deal. Utter bullshit. Is the Times on the Fed payroll?
And whoever said the way things get done here is 2 guys get together and 'do a deal'....whatever happened to the 'transparency'? Oh I forgot it's all a transparent fraud.
someone who spoke on the condition of not being named, told me the NYT is a ridiculous rag leaning to the left but really used by the establishment for the useful idiots that they are
I hope the Republican leaders strip Peter King out of his committee assignments. Or maybe put him in charge of the toilet cleaning committee.
That bigoted, warmongering police-statist represents the "NY State of Mind". They keep reelecting him.
"He doesn't have any reasons, he left them all behind."
The New York SLIMES!
The Soviet Politburo couldn't have asked for better agitprop!
translation: "We will absolutely make sure the FED and overseas bond holders are paid; but we must kick grandma to the death panels...(weeping)"
Red Team proposes balanced budget by cutting Amtrak and NPR.
"These two wasteful government monstrosities cost the honest hard workin' taxpayers nearly 3 billion BILLION dollars per year.", said Red Team leader Boehner, "and we've put an end to it and completely balanced the budget". He then then burst into tears.
I don't get the joke. Cutting off Amtrak and NPR and PBS would be small steps, but in the right direction.
of course these rumors only happen on red days
this ceased to be a market a long time ago. now it's just a rumor fueled farce.
They really need to cut the funding to the arts. The plays presented by community theatre in my area are total mind-rotting garbage, and every one of those theatres has recently had a multi-million dollar renovation.
Oh, but isn't it nice to know that the banks aren't getting all the funny money?
I repeat what I said earlier today (Thu, 10/03/2013 - 13:15 | 4019105):
The GOP/TP/Libertarians are losing the PR war in the MSM. It's time to play it tactically smarter, not more determined.
Be realistic. The only way that GOP/TP/Libertarians could make the MSM happy, would be to emigrate en masse.
Hate (for the President) and emotion (crazy ideology) make for losing investment decisions. Some on this site let hate and emotion rule: that is why they suffer and then yada yada yada.
Who is calling the other side....JIHADIST, TERRORIST, ARSONIST.....
All very hateful words.
They are not hateful if you are a Kenyan Muslim Bankster sternly dressing down Speaker Dreamsicle. ROFL!!!
This rumor was created by the slime on wall street and The Fed. We must feed the algos.
like there was ever any doubt. dimon owns both those clowns
We'll be green by 3:58PM. Ballsacks
if I had time I'd look at the hedging vehicles and check who is using this rumor to hedge their hyperleveraged positions. Then you could infer what will happen next, since it is preordained. At the same time do not underestimate the significance for tea party voters and republicans in general to see in the first row who the traitors are inside their party. This could have major implications for the upcoming legislative elctions. Some of the sheeple there are awakening and organizing.
http://www.safehaven.com/article/31295/ready-for-qe-five-its-already-here
Ready for QE Five? - It's Already Here
The sad truth is that the primary function of the Fed and Treasury has now become the sustention and expansion of disastrous asset bubbles. In fact, while Mr. Bernanke officially acknowledges QEs one through three, the truth is he has embarked on QE V. What's QE five all about? Putting a lid on U.S. Treasury yields.
The reason for this is our anemic economic recovery has been predicated upon artificially boosting consumption, which is 70% of US GDP. That consumption is, in turn, predicated on borrowing; because we don't have any real income growth on the part of the consumer. The borrowing has been predicated on government's ability to build upon the asset bubbles in stocks, bonds and real estate. And the creator of all these bubbles is our central bank, which is the progenitor of this deadly-addictive cycle. The Fed does this by providing ultra-low interest rates and through the massive monetization of government debt.
To prove we have learned nothing from the previous Great Recession; we now have a situation where the FHA will most likely need a $1 billion bailout for the first time in its 79 year history. But why do taxpayers have to bail out the FHA, which provides insurance to lenders such as banks and other financial institutions? The reason is because our government has once again compelled lenders to make loans with next to nothing for a down payment, to individuals who can not afford to purchase a home--doesn't this all sound chillingly familiar? Therefore, we have subjected ourselves to yet another bubble in housing, where home prices are once again rising at double-digit rates and marginal home owners are just a few points higher in interest rates from foreclosure.
It's not just house prices which are in back in a bubble. Stock prices are also growing at double-digit annual rates. These double-digit gains in stocks are taking place in an environment of little earnings and revenue growth. Meanwhile, Treasury bonds offer only half of their average yields going back over 40 years. So, for the first time in our lives we have three bubbles that exist together -- equities, bonds and real estate. But the real catastrophe this time is that these bubbles will become exponentially larger than previous episodes. Therefore, when they burst the devastation will be many times worse.
Seriously, this spectacle has been hilarious to watch. Traders are getting whiplash from every opinionated tweet and falase rumor. If I'm not mistaken, Boehner also said Republicans wouldn't shut down the government and they would tell you that they passed a bill to keep the government open but Reid and Obama wouldn't support it.
I really can't believe there are this many stupid people.
I think people are seriously underestimating the Tea Party Caucus. Everyone assumes that just because the most important thing to most people is cheap interest rates that Tea Party members think the same. The truth is millions of people have died in the name of "liberty" and "freedom" Tea Party members view Obamacare as an assualt on their liberties and would gladly give up some of their material things, such as McMansions and luxury cars to protect their liberties.
I think Obama is very naive if he thinks he can get a clean CR and not negotiate on the debt ceiling. He might not make concessions on the healthcare law, but he is going to have to offer Boehner something and he doesn't seem to have gotten that through his thick skull yet.
Obama has a huge problem. When so many people have nothing, they have nothing to lose. There are a lot of people in this country that no longer feel they have a stake in the riches. Threatening them with less money only works if they have somehting to lose and it is only getting worse. I don't necessarily think people that support the Tea Party are rich.
Obama is clueless about what is going on in this country.
They keep saying "budget". There hasn't been a budget since the Emperor took over and was given a blank check.