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Stocks Slump After Obama Rejects Republican Proposal; Cantor: "Seeking Path Forward"

Tyler Durden's picture


UPDATE: S&P Futures recover most of their losses following new reports, denials, and clarifications that Obama did not in fact "reject" but that discussions are and will be ongoing during the night. Most importantly, the meeting was inconclusive, which however seems good enough for stocks which have rebounded to pre-drop levels.

S&P futures are now over 15 points off the day's highs, as it seems equity investors were hoping for a Cumbaya moment after the White House meeting today. However, as Bloomberg reports,


It would seem that Obama's "unconditional surrender or default" position has merely placed the pressure to act back on Boehner's shoulders.



Where did stocks drop to?


Rep. Cantor offers some hope still -   

Majority Leader Cantor: White House meeting useful, 'we expect further conversations tonight'


It is clear, it would appear, that President Obama is sticking to his no-negotiation tactic (that Harry Reid confirmed this afternoon) and nothing will be done until government is re-opened...

For some depth on where we are in that debacle, here is NYTimes excellent inforgraphic:


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Thu, 10/10/2013 - 18:21 | 4042990 slaughterer
slaughterer's picture

Ooops!  Guess Ozero did not get the memo from Schumer.   And how many leveraged their long index positions today hoping to wake up to another 20 point gap up?  Guess Intractive Brokers is going to need to hike margin requirements yet again.  

Thu, 10/10/2013 - 18:23 | 4043004 The Gooch
The Gooch's picture

These motherfuckers are TRADING THE SHIT OUT OF THIS.

Thu, 10/10/2013 - 18:26 | 4043022 Popo
Popo's picture

If Boehner had balls he'd call a recess and go home. That would send the appropriate message. He could also invite Obama to jump on a plane and come visit when he's ready to make a deal.

Thu, 10/10/2013 - 18:29 | 4043030 Cult_of_Reason
Cult_of_Reason's picture

Huge IF

John Boehner has no balls.

The market should give back at least a half, 40/2=20 S&P points.

Thu, 10/10/2013 - 18:29 | 4043041 SheepDog-One
SheepDog-One's picture

Or, that's just what they wanted everyone to think....who knows?

Thu, 10/10/2013 - 18:30 | 4043054 Cult_of_Reason
Cult_of_Reason's picture

Last time Boehner left the WH without speaking to reporters, the bids evaporated and futures plunged by ~50 points. 

Thu, 10/10/2013 - 18:35 | 4043061 Zer0head
Zer0head's picture

ya Boehner's  got balls alright

tiny little orange ones

and you know what they say about a guy with tiny orange balls



Thu, 10/10/2013 - 18:40 | 4043080 Global Hunter
Global Hunter's picture

and you know what they say about a guy with tiny orange balls

He feels the pinch when his tiny orange balls are in an NSA vice just like a guy with normal balls would?

Thu, 10/10/2013 - 18:49 | 4043102 The Alarmist
The Alarmist's picture

Sorry, but this is just too much like that scene in Blazing Saddles where the Sheriff takes himself hostage to get out of a jam.

McConnell: Hold it men—he's not bluffing! [all but Ted Cruz drop their guns]
Boehner: Listen to him, men; he's just crazy enough to do it!

Thu, 10/10/2013 - 19:09 | 4043161 Pegasus Muse
Pegasus Muse's picture

“I will not negotiate” ---Barack Hussein O’Butthead


Thu, 10/10/2013 - 19:11 | 4043172 buyingsterling
buyingsterling's picture

Breaking news: Latest statement from Boehner:

"The president has rejected our proposal to extend the debt ceiling for six weeks, which would have given us some additional time to work out our differences. President Obama has exempted corporations, unions, even the US congress and congressional staff from the impact of Obamacare. Only responsible taxpayers - those Americans who pay all the bills - will be required to abide by the legislation this year. Millions will be forced to forego insurance and pay stiff penalties - the requirements of Obamacare have doubled and tripled the premiums for many taxpayers who are already stretched to the limit. And the president's health exchanges are a nightmare for all Americans - the sites don't work well, the information provided is both invasive and at risk of exploitation by hackers and identity thieves, and when people are actually able to get a quote, they are discovering that premiums are outrageous and deductibles are generally $10,000 or more. The Obama economy has left very few Americans with an extra $10,000 that they can spend on Obamacare. The entire law needs to be re-evaluated before it bankrupts the middle class. When the president is ready to discuss wholesale changes in this economy-wrecking legislation, we will be ready to talk. In the interim, we would like to again offer our proposal for a six week extension on the debt ceiling. In six weeks, Americans will be familiar enough with Obamacare that they will demand it be changed or scrapped altogether. We suspect that this is the very reason why the President wants all or nothing, and is refusing to negotiate."

Or maybe he didn't say that, because republicans are inarticulate cowards.

Thu, 10/10/2013 - 19:33 | 4043242 max2205
max2205's picture

Abide ...

Thu, 10/10/2013 - 19:54 | 4043288 locklimit
locklimit's picture

Can politicians buy S&P futures contracts??  If so they should all be billionaires...

Thu, 10/10/2013 - 20:24 | 4043377 anyways
anyways's picture

wow, as i read this i had my fingers on the sell button... until i reached the end ;-)

Thu, 10/10/2013 - 18:38 | 4043082 Kirk2NCC1701
Kirk2NCC1701's picture

Errata:  Boehner's got blue balls.

Thu, 10/10/2013 - 18:35 | 4043057 Zer0head
Zer0head's picture

worth repeating

These motherfuckers are TRADING THE SHIT OUT OF THIS.


Thu, 10/10/2013 - 19:04 | 4043147 prains
prains's picture

why feed the beast, let it eat itself

Thu, 10/10/2013 - 18:29 | 4043046 FL_Conservative
FL_Conservative's picture

....and he has NO negotiation skills.


Its a shame we have to rely on incompetents to get the job done.

Thu, 10/10/2013 - 18:33 | 4043058 smlbizman
smlbizman's picture

boner needs to make the tag to mr. putin...get the plantation back in order.....

Thu, 10/10/2013 - 18:53 | 4043112 The Alarmist
The Alarmist's picture

Chuck Norris would make Putin his bitch.

Thu, 10/10/2013 - 18:55 | 4043116 stormsailor
stormsailor's picture

andrew jackson made both of them look like meterosexuals,  he had 3 musketballs in him when he was president


Thu, 10/10/2013 - 19:41 | 4043259 StacksOnStacks
StacksOnStacks's picture

And if I do recall correctly, he wanted to end the Fed.

Thu, 10/10/2013 - 20:10 | 4043341 Doyle Hargraves
Doyle Hargraves's picture

He DID end the Fed. Where the hell is Old Hickory when you need him?!

Thu, 10/10/2013 - 21:35 | 4043620 franzpick
franzpick's picture

He's in Hawaii broadcasting with podcasts weeknights from and offers himself as a 2016 presidential candidate: Michael Rivero.

Thu, 10/10/2013 - 18:37 | 4043077 I need Another Beer
I need Another Beer's picture

My Rep has basically said FU AA, no compromise. My sentiments exactly. I hate to say it but most AA's have been written off 4 me as in fast moving projectiles first, questions after the fact.

Thu, 10/10/2013 - 19:49 | 4043282 alphamentalist
alphamentalist's picture

All Boehner, no balls

Thu, 10/10/2013 - 18:28 | 4043033 optimator
optimator's picture

it sure is tough to predict the future, but not if you're the ones making that future.

Thu, 10/10/2013 - 18:28 | 4043036 Renewable Life
Renewable Life's picture

Bammer and the Boyz are the Casino, Boner is the snot nose kid thinking he's going to make a run, 6 weeks I'll call you that bullshit an raise you a fucking default, there now what????

GOP amateur hour at the Improve continues..............

Thu, 10/10/2013 - 18:40 | 4043083 The Shootist
The Shootist's picture

House controls the purse, period. Zero's too stupid to play ball. And too stupid to understand that the whole country comprehends he's lying.

He could well blink like on Syria.

Thu, 10/10/2013 - 20:06 | 4043314 Renewable Life
Renewable Life's picture

Keep telling yourself, these fractional banking loving, Ponzi Scheme worshipping, Wall Street pimping, GOP cocksuckers are suddenly going to stand up to "the spending, borrowing, and printing", when that's exactly what made them millionaire fucking politicians, in the first place!!!

Geeeezus, wake up, nobody's fucking blinking here, but Boner and his Kenyesian brothers!!!

And BTW if you think some lame ass 6 week reprieve is a deal worth even talking about, your fooling yourself, all this does is get ALL these fucking coward encumbents past the Nov elections without ANYONE getting hurt, and puts us right back here before Christmas, for another round of BS, similar if not identical to this week!!

Thu, 10/10/2013 - 19:22 | 4043199 Phat Stax
Phat Stax's picture

What a bunch of dumbasses - the break through third level resistance was a classic (short-lived) throw-over.

Thu, 10/10/2013 - 19:13 | 4043178 skree
skree's picture

I swear I've seen this show before.....

Thu, 10/10/2013 - 19:38 | 4043253 gatorengineer
gatorengineer's picture

Yeah, isnt this the part where Boner gets bitch slapped by the street smart Negro, and cries like a Bitch?

Thu, 10/10/2013 - 18:19 | 4042991 qussl3
qussl3's picture

He already made it damn clear short term was unacceptable, wonder who the idiots were chasing this ramp.

Thu, 10/10/2013 - 18:38 | 4043073 Cdad
Cdad's picture

From day to day, I'm not sure who the idiots are that are chasing the endless and mind-numbingly stupid equity ramps...but...I know it isn't the people who understand who President Zero is...and just what he wants to do to this country.  
And by that I isn't the conspiracy minded folk chasing the equity ramps...the ones who understand that President Zero would love...just love to see the US default on its debt. 

So...for all of you confused by "I refuse to negotiate"...consider yourself edjamacated. 

Thu, 10/10/2013 - 18:21 | 4042992 johngaltfla
johngaltfla's picture

The Stock Market Crash of October 18, 2013


See, I told you's going to get ugly in the next week!

Thu, 10/10/2013 - 18:25 | 4043029 anyways
anyways's picture

nice Comrade ;-)

Thu, 10/10/2013 - 19:04 | 4043145 The Shootist
The Shootist's picture

TPTB will blame and destroy the tea-party? Interesting patsy theory, but I doubt they could convince any Libertarians or tea party members that a crash is their fault. Thus, these liberty loving factions would continue growing.

Thu, 10/10/2013 - 19:14 | 4043179 johngaltfla
johngaltfla's picture

The American people as a group are generally dumb asses.

If the Keynanfuhrer tells them to believe it was the Tea Party's fault, they will.

It only gets worse when Boehner sells them out in the weeks ahead.

Thu, 10/10/2013 - 19:18 | 4043183 The Shootist
The Shootist's picture

Yeah, but I think the coalition is too big to be harmed much.

Thu, 10/10/2013 - 19:21 | 4043204 johngaltfla
johngaltfla's picture

Better read this one also as the SA thought the same thing in June 1934....


America’s Night of the Long Knives May Hit the Tea Party/Patriot Movement Any Day Now!

Thu, 10/10/2013 - 19:39 | 4043257 johngaltfla
johngaltfla's picture

Love that movie. Too bad the GOP can only say "Say hello to my little friend" and right after that Boehner unzips his fly....

Thu, 10/10/2013 - 20:06 | 4043331 rtalcott
rtalcott's picture

Yeah BUT....AH was in a serious bind....the Army was saying OK time for you to deliver YOUR part of the bargain.

Thu, 10/10/2013 - 19:28 | 4043227 runningman18
runningman18's picture

Government Shutdown: The Next Step In The Collapse Of The Dollar?


Excellent article, and correct so far.

Thu, 10/10/2013 - 19:21 | 4043196 McMolotov
McMolotov's picture

We desperately need a collapse so this country can break up regionally into four or five different nations, like that Russian dude predicted back in the '90s.

For the time being, though, we're stuck with a bunch of prissy ass fiddling Neros as "leaders." They see the sparks all around them, and they're just trying to buy some more time so they can get out of Rome before it all burns and gets blamed on them.

Fuck all of 'em.

Thu, 10/10/2013 - 19:29 | 4043215 Australian Economist
Australian Economist's picture

I'm glad I sold all my stocks months ago. Although I've missed out on a few percentage gains since then the situation is far too unstable.


Even if the Fed keeps printing I think we're coming to the end game soon. Oct 18th, 6 months, 2 years? I don't know, but it will happen.

Thu, 10/10/2013 - 18:20 | 4042994 uncle_vito
uncle_vito's picture

You knew this was going to happen.   Dumb market

Thu, 10/10/2013 - 18:31 | 4043020 johngaltfla
johngaltfla's picture

Dumb Market.


Nah, the CNBCFBNBBGCNN propagandists did their jobs. The ramp job was a classic Plunger Protection Team low volume on the futures to move the cash maneuver. Care to wager if GSCJPMWFCBAC, etc. all have S&P put options some 20-30%  below the current level and waiting to drive the price way, way, lower so as to clean out the terminally stupid?

Thu, 10/10/2013 - 18:30 | 4043052 Landrew
Landrew's picture

I bought the BAC @ the money Nov. puts around noon knowing most or all of this ramp would evaporate overnight. 

Thu, 10/10/2013 - 18:39 | 4043074 johngaltfla
johngaltfla's picture

Nicely done. If we do enter into a planned default, it's all over and BAC might well be down a good 20% easily.

Thu, 10/10/2013 - 18:20 | 4042995 Spastica Rex
Spastica Rex's picture

Obama is my HERO!

Keep it shut!

Burn it down!

Thu, 10/10/2013 - 18:22 | 4043002 onelight
onelight's picture

Lotta shakin on Shakedown Street, er, Pennsylvania Ave...don't tell me that town ain't got no heart..

Thu, 10/10/2013 - 19:31 | 4043233 Doyle Hargraves
Doyle Hargraves's picture

+1000 for the Grateful Dead lyrical reference.

Thu, 10/10/2013 - 19:44 | 4043256 onelight
onelight's picture

You're welcome. We all miss Jerry, and whole family tribe. Heard his daughter on radio the other day, keeping the vibe alive, lovely girl.

Thu, 10/10/2013 - 19:46 | 4043277 Doyle Hargraves
Doyle Hargraves's picture

RIP Jerry and Brent as well. Only saw them live once, it was a 3 day stand in 1994. Best show(s) I have ever been to hands down.

Thu, 10/10/2013 - 20:51 | 4043475 onelight
onelight's picture

my shows were in the 80's and early 90s, came to it late but keep the groove...used to see Jerry at the Warfield...get dinner at Joe's counter in the tenderloin then wander over...the authorities stopped them playing at the Greek, Berk Comm Theater and Kaiser, places I liked...missed all the earliest years but like you, glad I got a slice while it was there..peace, bro

Thu, 10/10/2013 - 18:20 | 4042996 onelight
onelight's picture

wahoo -- up Yen periscope, down Yen crosses...

Thu, 10/10/2013 - 18:20 | 4042997 g'kar
g'kar's picture

I welcome the darkness.

Thu, 10/10/2013 - 19:35 | 4043241 SoNH80
SoNH80's picture

Yes-- the "dark ages" were pretty damn good for the productive folks at the bottom of the social heap circa 413.  The panem 'n circenses/imperial decadence crowd, not so much.

Thu, 10/10/2013 - 18:22 | 4042998 Debeachesand Je...
Debeachesand Jerseyshores's picture

SHTF is back on the Front Burner.

Thu, 10/10/2013 - 18:25 | 4043017 The Gooch
The Gooch's picture

With all the frogs.

Thu, 10/10/2013 - 18:35 | 4043062 lolmao500
lolmao500's picture

Time to go buy some more ammo...

Statists are crying like little bitches when not even 10% of the government budget is cut... what ya think will happen when 40% of the budget + needs to be cut OVERNIGHT?? They gonna throw a party and sing kumbaya? More like they gonna bash each other skulls and feast on the goo inside.

Thu, 10/10/2013 - 20:26 | 4043385 g'kar
g'kar's picture

I prefer reloading.

Thu, 10/10/2013 - 18:23 | 4043001 HaroldWang
HaroldWang's picture

Real news: Harold rogers just said inaccurate that president rejected proposal and pete sessions said they're all working together now

Thu, 10/10/2013 - 18:24 | 4043009 SheepDog-One
SheepDog-One's picture

They all formed a drum circle and are singing 'Cumbaya' I'm sure.

Thu, 10/10/2013 - 18:29 | 4043021 HaroldWang
HaroldWang's picture

Just reporting the facts. Also, Cantor said more talks tonight. Don't know where NYT got that misinformation.

**Forgot I was reporting facts on ZH where facts apparently don't matter to most posting here.

Thu, 10/10/2013 - 18:37 | 4043076 denverdolomte
denverdolomte's picture

OldWang ::

"President Obama opposed passage of funding for veterans' death benefits because the Fisher House Foundation has agreed to cover the costs, according to his spokesman.

"The legislation is not necessary," White House press secretary Jay Carney told reporters Thursday when asked about legislation approved by the House and Senate that would pay for those benefits. "Our view has been, this piecemeal funding is, again, a gimmick."" courtesy of Washington Examiner

Thanks OldWang for being our beacon of MSM Truth.


Thu, 10/10/2013 - 18:59 | 4043128 nmewn
nmewn's picture

Well, the facts are...the federal government gets enough in taxes every month to pay the interest on the no default.

What he really doesn't want to do is, shrink the size of the federal government.

Those are the facts.

Thu, 10/10/2013 - 19:21 | 4043203 g'kar
g'kar's picture

No doubt. They are arguing about how big the deficit will be. They take in about $250B a month in taxes and the interest on the national debt is about $20B a month. I hope this isn't all about how to spend the $1 trillion or so per year of deficit spending money they borrow or create.

Thu, 10/10/2013 - 18:31 | 4043037 onelight
onelight's picture

...while the genuine American Indians are drawing a different conclusion (no drum circle required):

The Chairman of the Crow Tribe in Montana says the government shutdown should be a wake up call to tribal nations across the United States.

Thu, 10/10/2013 - 18:39 | 4043084 James-Morrison
James-Morrison's picture

Many Tribes on ZH already had the wake up call. 

Thu, 10/10/2013 - 18:51 | 4043106 Shell Game
Shell Game's picture

I hear the Hndou't Nation is really sweating it.  

Thu, 10/10/2013 - 19:16 | 4043181 IndyPat
IndyPat's picture

Thee "Tribe" that's putting on this shit show doesn't care if we wake up or not.

Thu, 10/10/2013 - 19:56 | 4043295 Ness.
Ness.'s picture

Oh, they care alright.  They're praying we don't wake (sober) up hence Thursday Night Football!!  USA USA!!

Go Bears!



Thu, 10/10/2013 - 21:04 | 4043514 SoNH80
SoNH80's picture


Fri, 10/11/2013 - 00:35 | 4043972 g'kar
g'kar's picture

I'm of the Hekawi tribe. 

Thu, 10/10/2013 - 18:29 | 4043043 Debeachesand Je...
Debeachesand Jerseyshores's picture

Oh goodie,I guess they are having a bipartisen circle jerk.

Thu, 10/10/2013 - 18:29 | 4043044 AllWorkedUp
AllWorkedUp's picture

Who the hell is Harold Rogers?

Let it burn.

Thu, 10/10/2013 - 18:47 | 4043096 Bee
Bee's picture

Big spending congressman from Kentucky.  He thinks he is more important than Daniel Boone.  He had the name of the Daniel Boone Parkway changed to Hal Rogers Parkway.

Thu, 10/10/2013 - 19:28 | 4043231 SoNH80
SoNH80's picture

Ugh!  He makes that prick Judd Gregg look classy... Daniel Boone just, well, FOUND the way to Kentucky after all??!

Thu, 10/10/2013 - 18:22 | 4043003 SheepDog-One
SheepDog-One's picture

Hey where's 'bullmarket'? Told ya so last article....same with all the other smartypants longs on there with their lectures.

Thu, 10/10/2013 - 18:25 | 4043005 optimator
optimator's picture

And you can bet 'They' are sure making big bucks on the insider information.  Iong, short, long, short, WOW!

Thu, 10/10/2013 - 19:27 | 4043223 SoNH80
SoNH80's picture

Long Duck Dong?


Dong? (clap-clap) Dong!?? Where is Grampa's auto-mo-bile?


I DON' KNOW.....

Best way to get a rid of a dog's fleas, dip it into kerosene, ayuh...

Thu, 10/10/2013 - 18:24 | 4043010 nmewn
nmewn's picture

The saga of the psychotic stock market continues.

I wonder how many suckers they bagged today? ;-)

Thu, 10/10/2013 - 19:40 | 4043260 gatorengineer
gatorengineer's picture

The long ones or the short ones?


Novit enim Benus qui sunt eius (Kill them all. For the Bernake knows his own."

Thu, 10/10/2013 - 19:54 | 4043291 nmewn
nmewn's picture


I almost crash my truck coming home everytime the news comes on and says "investors liked/didn't like...blah blah blah".

Investors? Algo's are investors?

Yes, investors just love those two percentage point swings one way or the other...all's well, I'm all in!!!

Its the Nuthouse Casino open for business and rules or regs don't matter now.

Thu, 10/10/2013 - 18:23 | 4043011 razorthin
razorthin's picture

Bullshit.  This can only be stopped from a gassy hole.

Thu, 10/10/2013 - 18:26 | 4043026 g'kar
g'kar's picture

Or a grassy knowll.

Thu, 10/10/2013 - 18:27 | 4043031 razorthin
razorthin's picture

thank you

Thu, 10/10/2013 - 18:31 | 4043051 g'kar
g'kar's picture

Sorry, it rhymed.

Thu, 10/10/2013 - 18:24 | 4043015 buzzsaw99
buzzsaw99's picture

I want the people to know that they still have two out of three branches of the government working for them and that ain't bad.

Thu, 10/10/2013 - 18:27 | 4043039 nmewn
nmewn's picture

I was expecting to see "tree branches" ;-)

Thu, 10/10/2013 - 19:41 | 4043263 gatorengineer
gatorengineer's picture

The only branch I see is the Olive Branch Stuffed up Boners ass..

Thu, 10/10/2013 - 20:31 | 4043405 nmewn
nmewn's picture

Right there with ya.

Thu, 10/10/2013 - 18:25 | 4043028 GrinandBearit
GrinandBearit's picture

Stocks "collapse"?

8-10 ES handles is a collapse?


Thu, 10/10/2013 - 18:28 | 4043038 HaroldWang
HaroldWang's picture

Just erased EOD ramp job. Back to ridiculous high before ridiculous ramp.

Thu, 10/10/2013 - 18:31 | 4043048 SheepDog-One
SheepDog-One's picture

Back to right about where everythings been for the last 6 months or so.

Thu, 10/10/2013 - 18:31 | 4043050 Ham-bone
Ham-bone's picture

when leveraged to infinity - any loss is unacceptable...

Thu, 10/10/2013 - 18:29 | 4043040 Smartie37
Smartie37's picture

Actors act, director directs................

.............but who's the Producer ?

All he's producing is a prelude to carnage..........Let 'er Rip !

Thu, 10/10/2013 - 18:31 | 4043045 TrustbutVerify
TrustbutVerify's picture

Is anyone really surprised at Obama?  This is what we knew we'd get when he was elected. He's putting on the gas as we approach the cliff...and I don't mean the little debt seiling cliff. 

Thu, 10/10/2013 - 18:34 | 4043065 nmewn
nmewn's picture

Cool ain't? He thinks we actually care if .gov defaults or it stays "shut down".

Same mission, different intent ;-)

Thu, 10/10/2013 - 19:01 | 4043135 forwardho
forwardho's picture

All going according to plan.

Destroy manufacturing, removing peoples independance.

Get as many people hooked on .gov largess as possible. (a dog will not bite the hand that feeds it theory.

Run up the deficit to unheard of heights.

Devide the population, by race, by income, by religion, by political affiliation. (remember a house devided cannot stand)

Crush the moral of the millitary.

Control access to health care. (same theory as food)

All this and more to come!

In his defense, he told us everything he was going to do before he was elected... Twice.



Thu, 10/10/2013 - 19:35 | 4043244 NOTaREALmerican
NOTaREALmerican's picture

Re:  All going according to plan.

Huh,  same plan as the last 30+ years,  Amazing.

What year did that giant sucking sound start up?

Thu, 10/10/2013 - 18:29 | 4043047 surf0766
surf0766's picture

Progressive Leader Cantor


there that's better

Thu, 10/10/2013 - 18:29 | 4043049 Dre4dwolf
Dre4dwolf's picture

Today was a huge rally? where is the collapse hu? 0o

Thu, 10/10/2013 - 18:36 | 4043064 Kirk2NCC1701
Kirk2NCC1701's picture

Like I said on Tuesday, 4035812 there are two paths you can go by to get to the Imperial Presidency,

and the GOP and their retarded, has-been hacks on political strategy seem happy to oblige for either.

Thu, 10/10/2013 - 18:35 | 4043066 JR
JR's picture

The Republicans win again.

And that’s because Obama is in a corner; the position he has created is to save his legacy law – a bill so dirty that’s he’s willing to risk everything for the bankers and drag America into their new order of world socialism and a single world currency.

Look at this picture: here is the President of the United States refusing to discuss any changes or even any approach to changes in the spending of an out-of-control Leviathan government. If this impasse leads to a quasi-default, then it is the President of the United States who has decided his projects are more important than the full faith and credit of the United States. We'll see how that plays in Peoria.

Obama’s strategy is coming straight from the Saul Alinsky play book.

Thu, 10/10/2013 - 18:43 | 4043089 nmewn
nmewn's picture


Now, let me just reach in here (ziiiiip!!!) and try to find Boehners balls...ahhh yes, here the little things are...ahem...

"The six week extension will cost you the individual mandate, just like you gave (unlawfully) your cronies and ALL corporations." 

Thu, 10/10/2013 - 18:48 | 4043098 g'kar
g'kar's picture

Agreed. The blue team does have the media spin on their side working overtime lying through their teeth more than ever. Red team is fighting for it's political long term viability which would be seriously in danger if they cave. Boehner should say pass a first time budget detailing the expenditures or up yours.

Thu, 10/10/2013 - 19:46 | 4043254 NOTaREALmerican
NOTaREALmerican's picture

Re:  We'll see how that plays in Peoria.

How many patriots in Peoria are getting loot directly from Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-Energy, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState?

Yeah,  let me know what the patriots in Peoria are up to when the all the fat-assed OldFarts turn in their socialist Medicare cards.

I'm ENTITLED to that government motor-scooter and 4th hip replacement surgery!

Thu, 10/10/2013 - 18:35 | 4043067 mrmic2027
mrmic2027's picture

The Headline should just be Obama is a Reject

Thu, 10/10/2013 - 18:37 | 4043069 NDXTrader
NDXTrader's picture

Boehner must be thinking "Hmmm...What's more humiliating than an all-out surrender? Ok, I'll offer that next"

Thu, 10/10/2013 - 18:38 | 4043071 A Lunatic
A Lunatic's picture

Fundamentally transforming America, one staged crisis at a time........

Thu, 10/10/2013 - 18:55 | 4043114 Shell Game
Shell Game's picture

..since 1865.



These Dates Forever Changed America For The Worse  - by Chuck Baldwin

Thu, 10/10/2013 - 18:38 | 4043072 Wm the Shrubber
Wm the Shrubber's picture

Too, too predictable.  Ramp on the rumor, but only sell half-way back on the reversal.  Keep ratcheting higher, oblivious to the fact that the market has no fundamentally sound foundation.  The market is just an abstraction at this point providing cover for an economy that cannot be fixed.  I suppose they'll find another kick the can, face saving out, and then it will be back to the ATHs.  The plates will keep spinning until they all come crashing down.  I won't take any satisfaction in that outcome, but I do believe it to be inevitable.

Thu, 10/10/2013 - 18:38 | 4043081 QQQBall
QQQBall's picture


I treied to breach the divide and meet the president 1/2 way. The president's idea of negotiating is dictating terms of complete surrender. This is not a kingdom; no reason to keep Congress in session. 





Obomber's legacy is ACA. To defund will lay open the fact that Obomber has done nothing in almost 5 years other than talk (and mostly lie). Someone should give Barry a budegt with spending cuts and call him out.

Thu, 10/10/2013 - 19:45 | 4043273 NOTaREALmerican
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Re:  To defund will lay open the fact that Obomber has done nothing in almost 5 years other than talk

Yeah,  take out the two unfunded wars against the wrong country and throw in Medicare Part D for the OldFarts who think they are entitled to their own medical socialism and Bush is a bigger liberal than Obama.  

Funny how the two Teams can't seem to stop spending other people's money.

Fri, 10/11/2013 - 01:03 | 4044000 Clowns on Acid
Clowns on Acid's picture

Bush's expansive spending...was supported by the DEMs... you stoopid m'fer...

Thu, 10/10/2013 - 18:41 | 4043086 goldenbuddha454
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Here's how this works.  Obama gets calls allday to reject the Pubs deal and he tells them (lobbyists) what they want to hear in exchange for campaign money.  Boehner the same thing.  He gets calls from lobbyists allday telling him to resist the Dems latest demands.  He tells them ok and says and by the way we need some more money.  So by monday or tuesday, the whole theater play will end and there will be a compromise.  But up until that point they will both be holding out their hands for more money to 'help the cause'.  A hilarious sharade really.  Every 6 months for the rest of your life this sharade will play itself out.  Actually, maybe even sooner because the debt ceiling will be at risk of being breached at shorter and shorter intervals.

Thu, 10/10/2013 - 18:44 | 4043088 Kirk2NCC1701
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Translation of Cantor quote: "'We expect to make further concessions tonight".

After we bring our own Astroglide.

Thu, 10/10/2013 - 18:43 | 4043091 Fix It Again Timmy
Fix It Again Timmy's picture

Let's default, then dance, 'cuz we ain't paying you shit,  bitchez.....


Thu, 10/10/2013 - 18:44 | 4043095 NDXTrader
NDXTrader's picture

Typical Republican negotiation skills on display here. They've scooped up the fumble and are running the wrong direction

Thu, 10/10/2013 - 18:53 | 4043101 tony wilson
tony wilson's picture

remember the msm footages.

remember the tears of relief and joy.

remember the numbskull brain dead sayin he is the one

he is just like jesus the peace maker.

remember that day in washington town the last days of kodachrome film.

before the last kodachrome lab in the world closed dowm.

some artists shot that day and night on film that  day they thought was histry.

that day we thought  a humble black man would change the game.

bring yes we can hope and turn the country around.

a different day of stumbled words gaffs and  inauguration.

exceptional day for the exceptional nay tion.


what dumb fucking sheep are we.

no wonder prince phillip,kissinger and soros and master rothschild want us depelted uranium cancer dosed.

spendin are last pennies on gmo and chemo.


we got a kenyan a sodomite a cia asset a clown fool cos that is all we deserve.

Thu, 10/10/2013 - 18:56 | 4043104 antisoshal
antisoshal's picture

Wow. there's some serious stupid in these comments, even for here.

The Republican "offer" had one condition: If in 6 weeks no agreement is reached, it will be illegal for the treasury to allocate existing funds to pay creditors and avoid a default. It is the first peice of legislation I have seen in my life that proposes to literally MAXIMIZE potential damage to the American public. 

You got that? In other words, the offer did nothing to actually mitigate harm to the American people, it was simply a trap that put into law removing any method the government has to avoid default. It would probably get struck down by the supreme court as violating the 14th amendment, but that would be to late to prevent the default. 

Only an absolute fool would accept that bargain, because it would only gaurantee that the Republicans would simply hold ground and force a breach of the debt ceiling. This was a no win for Obama and Democrats and Republicans knew that. It was all just a game. Their goal is to force Obama to act unilaterally to avoid a default, which they will then attempt to impeach him for. The Republicans don't give a shit about anything but winning this like its a game of checkers.

What a load of smirking chimps this place has become. 

Thu, 10/10/2013 - 18:59 | 4043131 CrashisOptimistic
CrashisOptimistic's picture

You have that wrong.  The condition is that Treasury can no longer use special maneuvers to avoid a specified date -- like tapping the civil service retirement fund.

It has nothing to do with prioritization of spending.  It's just making sure that a selected date is the real, true deadline.

Thu, 10/10/2013 - 19:02 | 4043143 antisoshal
antisoshal's picture

Hrm. That is not the way I saw it described in the few places I even saw it mentioned. Can you share a source that doesn't paraphrase for preferred ideology (i.e. Fox News or MSNBC) ? If so, then thats not the worst idea, but I also fail to see how its particularly relevant to the problem, so they are probably working an angle in some way.


Thu, 10/10/2013 - 19:31 | 4043235 Col_Sanders
Col_Sanders's picture

Hold on - You just called nearly everyone here "...a load of smirking chimps..." because:

The Republican "offer" had one condition: If in 6 weeks no agreement is reached, it will be illegal for the treasury to allocate existing funds to pay creditors and avoid a default. It is the first peice of legislation I have seen in my life that proposes to literally MAXIMIZE potential damage to the American public. 

Then after Crash calls you out, you say you only heard it "described" meaning you haven't actually "seen" it... And you ask him to post a source.


Fri, 10/11/2013 - 00:01 | 4043908 antisoshal
antisoshal's picture

Yes. I asked him to share a source that says what he describes because I am unable to find any. At this point I can barely find any reference to the conditions at all. As far as your pedantic language lawyering, NONE of us have actually seen the "offer", we have all only seen or heard it described, so thats a fuck off point there. If he has a source that more accurately describes what was proposed and includes those details, I'd love to see it because I want the correct information, not to "call him out" or challenge its veracity. In the abscence of such source, I'm gonna go with what I have already garnered from other sources rather than just make something up or accept whatever supports what I already decided must be true.

The confirmation bias here dwarfs even gravity. No one seems to be interested in actual information, just back slapping circle jerks about gold and blaming Obama.

I stand by the smirking chimp declaration with increaced resolve. 

Fri, 10/11/2013 - 01:00 | 4043997 Clowns on Acid
Clowns on Acid's picture


Thu, 10/10/2013 - 19:02 | 4043136 NDXTrader
NDXTrader's picture

All Obama has to do is agree to set up some blue ribbon commission to propose "cuts" that are really just reductions in growth, that will likely never be implemented and that supposedly start after his Presidency is over. He can't do it because his progressive base thinks we aren't doing enough government even though we are spending a TRILLION more than we take in every year. At this point Boehner just wants a bone

Thu, 10/10/2013 - 19:11 | 4043171 jomama
jomama's picture

in case you hadn't noticed, ZH has been overrun with wanna-be 'conservatives' who still think the red puppets are better than the blue ones. 

probably because they've been banned from everywhere else.

Thu, 10/10/2013 - 20:39 | 4043439 nmewn
nmewn's picture

Banning someones opinion is a great "progessive" attribute these days.

Don't you think? ;-)

Thu, 10/10/2013 - 20:57 | 4043493 g'kar
g'kar's picture

Yep, that's a purple attribute.

Thu, 10/10/2013 - 18:50 | 4043105 q99x2
q99x2's picture

Throw the Constitution at that bunch of scum.

Lock em up.

Thu, 10/10/2013 - 19:09 | 4043164 involuntarilybirthed
involuntarilybirthed's picture

Under this administration the only way throwing the constitution at them would hurt them is if you tied a brick to it. 

Thu, 10/10/2013 - 18:54 | 4043107 ebworthen
ebworthen's picture perhaps Fidelity & J.P. Morgan are getting out of the short-end bond market and Interactive Brokers has done three margin hikes in one week because they knew this?

Possible we got a huge pop today on shorts fear of getting burned, but the big boys knew all along it will be pushed to the edge - the 17th (?).

Thu, 10/10/2013 - 18:59 | 4043127 QQQBall
QQQBall's picture

dude, leveraged shorts got smoked today

Thu, 10/10/2013 - 19:08 | 4043158 NDXTrader
NDXTrader's picture

Today was all about getting some big boys with big positions out so others are holding the bag. I posted at the time that I went short S&P 1685 and am looking to cover at 1600 or if that fails 1570-1575

Thu, 10/10/2013 - 18:52 | 4043109 thismarketisrigged
thismarketisrigged's picture

just like i fucking thought would happen.


there was never going to be a deal today at least, yet the market fucking pushes up stocks like we are fucking in the biggest golden age of all time.


then they schedule the meeting for afterhours so the markets can not tank during the day if the meeting went poorly, and sure enough that is exactly what happens. 


of course though, as expected, u have douchebag eric cantor trying to make it seem like this was a success to make sure futures do not fall so sharply.


in a real market ( obviously this is the furthest thing from it) dow futures currently should be - 150 and downward as the night progresses, s&p futures should be - 18 and downward as night progresses, and nasdaq futures should be - 35, and downward as night progresses.


should be interesting to see how asia opens. they will prob open up huge following the criminals leads today from wall st.

Thu, 10/10/2013 - 18:51 | 4043111 James-Morrison
James-Morrison's picture

<--- Our goverment is filled with Useless Idiots

<--- Our goverment is filled with Useful Idiots

Thu, 10/10/2013 - 18:54 | 4043113 Anonymouse
Anonymouse's picture

I am NEVER one to support Boehner (except in a suntan competition against George Hamilton or Zeke from Doonesbury), but it seems to me like the problem is Obama.

Thu, 10/10/2013 - 19:27 | 4043225 Bastiat
Bastiat's picture

Boehner/Mozilla tanning cage match!

Thu, 10/10/2013 - 19:36 | 4043249 venturen
venturen's picture

What BO-ner and BO-bama have the same tan are already doing the the dirty deed with each other 

Thu, 10/10/2013 - 20:54 | 4043474 QQQBall
QQQBall's picture

Boner & Mozillo tanning cage match... Cheetohs, Orange Crush & Vienna Sausages to sponsor?

Thu, 10/10/2013 - 18:56 | 4043121 Fix It Again Timmy
Fix It Again Timmy's picture

This whole deal is totally beyond any meaningful control; I'm strangely nostalgic for the future...

Thu, 10/10/2013 - 18:54 | 4043122 NDXTrader
NDXTrader's picture

The GOP goes on all day about how we can't negotiate with terrorists. That those in the Middle East only respect strength and showing them a willingness to negotiate only conveys weakness. Then they turn around and try to "negotiate" with this clown who has just as strong of an ideology? They've shown him weakness now so they are beaten. I honestly think if Boner would have just told everyone to go home after they passed everything but Obamacare they might have gotten something. Now they are going to be in a worse position then when they started

Thu, 10/10/2013 - 19:26 | 4043226 Australian Economist
Australian Economist's picture

He can still go home, it's getting late, he probably should.

Thu, 10/10/2013 - 18:56 | 4043125 WTFUD
WTFUD's picture

What time is bears v giants kick-off?

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