This page has been archived and commenting is disabled.

Art Cashin Explains Why Obama Is "Terrified" By A European Collapse

Tyler Durden's picture




 

Confused why Tim Geithner has seemingly booked a weekly round trip ticket to Brussels to give the Eurocrats their weekly pep talk (much to his endless humiliation as Europe Tells Geithner To Take His Advice And Shove It reminds us)? Art Cashin explains not only this, but why the biggest threat to Obama's reelection chances is not who the GOP candidate is in November, but what happens in the EURUSD as early as today. Lastly, by implication, Cashin shoots down any hope that US decoupling from Europe is even remotely possible... something anyone who actually has seen a full business cycle, which automatically excludes 90% of all traders today, will know too well.

From Art Cashin

Wrong Solution. Wrong Time - Markets are celebrating (mildly) the Euro Summit “agreement”. We suspect Tim Geithner and the President are banging their heads against the wall.

 

The Euro leaders continue to plan and plot toward long range solutions, but they lack a crisis plan. In essence, they don’t have a fire department. If markets in the sovereign debt or European banks began to spiral out of control, they have no structure to deal with it.

 

We think the President is terrified, since - if Europe goes, it’s likely he goes too. The biggest threat to his re-election may be completely out of his control. Could be an interesting weekend at the White House.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 12/09/2011 - 10:45 | 1962673 SheepDog-One
SheepDog-One's picture

Lunatics run The Cuckoos Nest fire dept, and all we can do is sit and hope they can somehow put out the blaze with all those gas cans before we all burn to death.

What a wonderful world.

Fri, 12/09/2011 - 10:47 | 1962684 mayhem_korner
mayhem_korner's picture

 

 

The lunatic is in the hall.  The lunatics are in my hall.

Fri, 12/09/2011 - 10:48 | 1962695 Captain Kink
Captain Kink's picture

Yeah, picture a firehose hooked up to a gasoline truck... their efforts to overwhelm the flames of insolvency will only exacerbate the conflagration.

Fri, 12/09/2011 - 10:49 | 1962680 swissaustrian
swissaustrian's picture

The Euro leaders continue to plan and plot toward long range solutions, but they lack a crisis plan. In essence, they don’t have a fire department. If markets in the sovereign debt or European banks began to spiral out of control, they have no structure to deal with it.

BS. If TSHTF, the ECB is gonna violate the treaty and print.

Gotta give the Europeans at least the credits for trying not to print themselves out of their desaster. It´s not going to work, but that´s a different story.

Fri, 12/09/2011 - 10:55 | 1962723 spanish inquisition
spanish inquisition's picture

Hmmmm.... Time to open the FED secret swap lines at -100% (yup, just gonna give EU banks money)...

If you can bury $1-2T from a publicly traded company, imagine what you can do with no constraints and your own printer.

Fri, 12/09/2011 - 11:22 | 1962835 ATM
ATM's picture

And there you go. The Bernenk can't sit by while europe destroys the US financial system He has to give them all the money he can print.

Fri, 12/09/2011 - 10:47 | 1962685 Curtis LeMay
Curtis LeMay's picture

Fuck Obama and double fuck Turbo Timmy...

These two are worthless. Borrowing and pissing it all away is no substitute for common damn sense.

The clown in our White House is a disgrace.

Fri, 12/09/2011 - 10:48 | 1962690 f16hoser
f16hoser's picture

Fuck Obama. He's not even a legitimate president. I call him the "Novelty" president. That's all history will remember him as.

Fri, 12/09/2011 - 10:50 | 1962701 SheepDog-One
SheepDog-One's picture

These times will be written about sometime in the future....on cave walls.

Fri, 12/09/2011 - 10:53 | 1962716 lizzy36
lizzy36's picture

As opposed to Bush 43 who was a legitmate president?

At least Obama was elected instead of appointed by SCOTUS.

Fri, 12/09/2011 - 10:57 | 1962734 mayhem_korner
mayhem_korner's picture

 

 

The dead and decaying horse resurrected.  The bastardization of FL election law was the only reason SCOTUS ever got involved (which it should never have).  But it is interesting that "the honorable" Al Franken was "elected" without SCOTUS intervention.

Fri, 12/09/2011 - 11:12 | 1962800 Hohum
Hohum's picture

The SCOTUS got involved because five of its members wanted Bush to be president.  There was no federal question (GWB's equal protection rights!).  And it doesn't matter if FL's election law was f'ed up.

Fri, 12/09/2011 - 11:19 | 1962825 trav7777
trav7777's picture

you're full of shit.

The people empowered under Florida law to designate electors designated for Busch.  That is because he won every count.

The Florida low courts ruled in his favor and then the DEMOFAG Florida Supreme Court decided THEY wanted Gore.

There was NOTHING wrong with Florida election law and everything wrong with Florida's high court judges' not liking the outcome of the process and that demofags can NEVER follow the law.  I hate repugnicons as much as the next guy, but at least they don't have this arrogance about their stupid and silly worldview like demofags do.

Fri, 12/09/2011 - 11:21 | 1962829 mayhem_korner
mayhem_korner's picture

 

 

Beat me to it.  Good call.

Fri, 12/09/2011 - 14:25 | 1963656 weinerdog43
weinerdog43's picture

Unfortunately, you are both lying.  Nice try on re-writing the facts tho.

Fri, 12/09/2011 - 11:26 | 1962858 Hohum
Hohum's picture

Trav7777,

Unfortunately, a shitty state supreme court decision does not give the SCOTUS jurisdiction over the case.

Fri, 12/09/2011 - 11:20 | 1962827 mayhem_korner
mayhem_korner's picture

 

 

The FL election law was and is fine and unambiguous.  It was skirted...but not by W's camp.  Maybe read up a bit on some legal journals as to what actually happened.

Fri, 12/09/2011 - 11:01 | 1962758 Dr. Engali
Dr. Engali's picture

Good Lord you are a moron. I am no supporter of Bush but that Florida mess was a joke. Count and count and count until you get the results you want. It was a national embarrassment watching those cross eyed fools scanning the ballots for "hanging chads".

Fri, 12/09/2011 - 11:11 | 1962792 Spastica Rex
Spastica Rex's picture

Do you think maybe this kind of bickering is beneficial to the status quo?

Fri, 12/09/2011 - 11:16 | 1962812 Dr. Engali
Dr. Engali's picture

I agree with you on that. Personally I think it is all part of a grander plan. As people lose faith in the institutions of the republic it becomes easier for the establishment to form a new more totalitarian government.  

Fri, 12/09/2011 - 11:25 | 1962856 Spastica Rex
Spastica Rex's picture

+1

Divided we fall. Or fell.

Fri, 12/09/2011 - 11:52 | 1962968 Ricky Bobby
Ricky Bobby's picture

Also add the continuous assault on anything deemed traditional culture. An example I found surreal was the disagreement between two Hollywood larva, one from the dynasty of Cher and the other from the Benning/Beatty clan. ABC headline "Transgender Son of Warren Beatty, Annette Bening Slams Chaz Bono" .. blah blah blah. Rip the populace from their cultural roots i.e.. move from paganism to christianity. Reshape, reeducate, and remove dissidents. Time honored and proven, hell Yeh Utopia just around the corner.

Fri, 12/09/2011 - 12:01 | 1963032 Spastica Rex
Spastica Rex's picture

"Culture" is now manufactured and sold, not organically grown. Like everything else. Enjoy your ersatz art, literature, and science, citizen.

Fri, 12/09/2011 - 14:24 | 1963647 robertocarlos
robertocarlos's picture

There is a photo of a mob storming the offices of a Fl State official, K Harris I think, and the mob were later identified as high ranking GOP workers and family.

Fri, 12/09/2011 - 11:08 | 1962780 Vergeltung
Vergeltung's picture

guess you missed the re-count tallies by several major liberal mertopolitan newspapers........but, I dare not confuse such an addled mind with facts.

Fri, 12/09/2011 - 11:22 | 1962833 trav7777
trav7777's picture

yes, NEVERMIND that Busch won EVERY fucking recount.  Busch was a miserable president but he did actually win the 2 elections.

the Florida Supreme Court was to blame for that fiasco and the fact that its peer actors under Florida's Constitution didn't ignore them.

Just remember, rules do not apply to libtards and their ends ALWAYS justify whatever means they use.

Fri, 12/09/2011 - 14:27 | 1963670 weinerdog43
weinerdog43's picture

Ditching PE to post is fun says our junior high expert!

Fri, 12/09/2011 - 21:42 | 1965098 blunderdog
blunderdog's picture

The Supreme Court canceled the final recount, so we never saw those results.

The whole thing was unconstitutional no matter how we try to dress it up.  The election process is a STATE power, and the Federal government has no business interfering with it.

Activist Supremes, overambitious Feds, and incompetent Floridiots.  We wouldn't want it any other way.

Fri, 12/09/2011 - 11:25 | 1962847 Problem Is
Problem Is's picture

They're all WCS-ers lizzy... They don't rise to those positions otherwise...

Failure of the Parasite US Political Class
Ain't the false dichotomy of the left-right paradigm a bitch?

Fri, 12/09/2011 - 11:27 | 1962866 ZeroPower
ZeroPower's picture

Come on lizzy, you know better 'dan dat'.

Fri, 12/09/2011 - 10:49 | 1962697 Mercury
Mercury's picture

Lastly, by implication, Cashin shoots down any hope that US decoupling from Europe is even remotely possible... something anyone who actually has seen a full business cycle, which automatically excludes 90% of all traders today, will know too well.

Or a full fiat cycle...

Fri, 12/09/2011 - 10:49 | 1962698 forrestdweller
forrestdweller's picture

the obama government is the best you can get in the USA at this time.

Just think of any of the other candidates being president.

4 more years and afterwards you will be happy that he was the man in charge.

 

Fri, 12/09/2011 - 10:51 | 1962705 SheepDog-One
SheepDog-One's picture

The people get the leadership they deserve, and the american people, trifflin'-ass sheeple, definitely deserve this rotten corrupt leadership at present.

Fri, 12/09/2011 - 10:53 | 1962713 forrestdweller
forrestdweller's picture

people like him in europe. they would like to have him as president of the united states of europe.

 

Fri, 12/09/2011 - 10:58 | 1962741 CrockettAlmanac.com
CrockettAlmanac.com's picture

OK, a carton of Gauloise and he's theirs.

Fri, 12/09/2011 - 10:58 | 1962742 Captain Kink
Captain Kink's picture

They can have him, as he will be unemployed next winter.  Heck, for my money, they can have him now.

Fri, 12/09/2011 - 11:12 | 1962799 Spastica Rex
Spastica Rex's picture

POTUS=symptom, not disease?

Fri, 12/09/2011 - 11:29 | 1962871 Captain Kink
Captain Kink's picture

+10

Fri, 12/09/2011 - 10:56 | 1962730 CrockettAlmanac.com
CrockettAlmanac.com's picture

Well, he does kill more innocent civilians with his drone attacks than Bush ever did. What's not to like?

Fri, 12/09/2011 - 10:59 | 1962748 forrestdweller
forrestdweller's picture

i don't think that is true.

i would appreciate if you can come up with facts about that.

Fri, 12/09/2011 - 11:14 | 1962806 alien-IQ
alien-IQ's picture

"Obama has proved to be far more willing than Bush to launch drone attacks in countries with which we are not at war."

"U.S. drone attacks in Pakistan had killed 10 civilians on average for every militant."

"The Obama administration has carried out far more drone attacks than the Bush administration. The number of U.S. attacks in Pakistan alone in 2010 was 117, more than all such attacks in previous years combined"

Source:
http://blogs.scientificamerican.com/cross-check/2011/10/03/drone-assassi...

Ok?

Fri, 12/09/2011 - 11:25 | 1962852 trav7777
trav7777's picture

we call this a bitchslap.

I would have expected him to know this...can't believe it when people can't recognize the truth.

Fri, 12/09/2011 - 11:43 | 1962907 Problem Is
Problem Is's picture

<BITCH-SLAP>

 

9th Rule of Fight Club
Newbies are supposed to STFU and read their first 26 weeks...

Mr. 7 weeks 4 hours forrestdweller...

Fri, 12/09/2011 - 11:55 | 1962991 forrestdweller
forrestdweller's picture

i've been reading this for a long time, and i'm reading a lot more to.

i claim the right to say somthing now and then.

thank you.

Fri, 12/09/2011 - 12:59 | 1963339 viahj
viahj's picture

watch the movie again, the 8th rule of fight club is "if this is your first time at fight club, you have to fight"

 

1st RULE: You do not talk about FIGHT CLUB.

2nd RULE: You DO NOT talk about FIGHT CLUB.

3rd RULE: If someone says "stop" or goes limp, taps out the fight is over.

4th RULE: Only two guys to a fight.

5th RULE: One fight at a time.

6th RULE: No shirts, no shoes.

7th RULE: Fights will go on as long as they have to.

8th RULE: If this is your first night at FIGHT CLUB, you HAVE to fight.

 

 

Fri, 12/09/2011 - 11:53 | 1962976 forrestdweller
forrestdweller's picture

no, if these are you're facts, you should state that under obama, more people have been killed by unmanned drones. this could possibly be true, because drones were hardly develloped in the bush days.

But i heard the use other airplanes too. fighters, bombers, and these things kill a lot of people. And i think under the regime of bush, many people have been killed, bombing bagdad and the rest of irak straight to hell.

politics and political opinions should not be fact free.

Fri, 12/09/2011 - 12:19 | 1963123 alien-IQ
alien-IQ's picture

you seem blinded by adoration. this renders you incapable of forming or expressing any valid or logical opinion and you should therefore refrain from talking about this since you are serving no other purpose than to make yourself look dumber and dumber with every word you write.

Fri, 12/09/2011 - 21:47 | 1965113 blunderdog
blunderdog's picture

He's making a specific request, and you're flailing. 

Under which administratior has our military killed more civilians, Dubya or Obama?

I sure don't know the answer, but that's the question you're fighting over.

Fri, 12/09/2011 - 13:03 | 1963349 viahj
viahj's picture

the original statement was the Obama has killed more civilians with drones than Bush, you doubted and asked for proof.  you were proven wrong, stop trying to change the premise. 

Fri, 12/09/2011 - 14:02 | 1963582 forrestdweller
forrestdweller's picture

i think the statement was not meant to only count the people killed with drones.

Fri, 12/09/2011 - 11:53 | 1962977 High Plains Drifter
High Plains Drifter's picture

yes , a guy with a african name and a "muslim" heritage or so we are told....bombing fellow muslims...........hmmm

 

the late chicago rabbi , rabbi wolf, was quoted one time as saying that obama was one of our own.........hmmmm

http://www.jta.org/news/article/2008/12/24/1001812/longtime-chicago-reform-rabbi-dies

 

then shall we look closely at obama's mother and his father for further study on this man..........shall we ?

 

so is obama really a muslim or is he something else entirely?   the plot thickens for the false patriots , no?

Fri, 12/09/2011 - 11:58 | 1963014 forrestdweller
forrestdweller's picture

the president of the US of A should always be a white christian male with an iq under 100, a structural lack of knowledge and a lot of stupid reactionary opinions.

the president of the united states is not allowed to be black, have a muslim parent, accept compromises and have reasonable opinions.

a lot of idiots around here....

Fri, 12/09/2011 - 12:15 | 1963097 alien-IQ
alien-IQ's picture

why is it so important to you or others if he is a Muslim, Catholic, Atheist, Hindu or a fuckin Martian?

Why does this matter at all? What difference does it make?

Fri, 12/09/2011 - 11:18 | 1962818 prodigious_idea
prodigious_idea's picture

Sounds like somebody doesn't know their history, or the facts, about the first seven years we occupied Iraq when tens of thousands of innocent civilians were killed.

Fri, 12/09/2011 - 11:23 | 1962841 Dr. Engali
Dr. Engali's picture

Yes and the killing has stopped since Obummer has been elected. Oh wait.. you mean we are still killing people in Iraq, Afghanistan, Lybia, Pakistan, Yemin.......... Why I thought our savior Obummer was going to stop the killing. Not escalate it.

Fri, 12/09/2011 - 11:56 | 1963003 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

POTUS = puppet

Although Cammander in Chief, and responsible, the POTUS doesn't have any command of the US Military Industrial Complex.  I wouldn't be surprised if both Obama and Bush couldn't find Iraq on a blank map.

Fri, 12/09/2011 - 11:06 | 1962774 Dr. Engali
Dr. Engali's picture

You forgot to turn off your sarc button.

Fri, 12/09/2011 - 11:09 | 1962783 Vergeltung
Vergeltung's picture

that was an uncommonly stupid arrangement of words.

Fri, 12/09/2011 - 10:50 | 1962699 Stuppy
Stuppy's picture

Haven't the Europeans been lacking a crisis plan for the past year and half?  Are they still really planning to plan and people thinks it means anything?

I don't think just Obama should be terrified of a European Collapse, I think we all should be terrified.  No matter how well we think we have planned it is never enough. 

Fri, 12/09/2011 - 10:52 | 1962706 sabra1
sabra1's picture

word has it iran will be provoked to attack, instead of the first shot being fired by an outside force. a president has never failed to be re-elected during a war, that is why the iran war is planned for next september, october!

Fri, 12/09/2011 - 10:59 | 1962744 CrockettAlmanac.com
CrockettAlmanac.com's picture

Too late. The US and Israel have been killing folks and blowing things up in Iran for years.

Fri, 12/09/2011 - 10:52 | 1962707 falak pema
falak pema's picture

My election, my election, my kingdom comes if I get a Euro horse to ride out on. If Euro unsaddles, I'll be singing...a horse, a horse, my election for a horse to get the hell out of Dodge.

Fri, 12/09/2011 - 10:52 | 1962711 swissaustrian
swissaustrian's picture

US banks would never survive a Euro collapse.

Fri, 12/09/2011 - 10:53 | 1962715 rufusbird
rufusbird's picture

"We think the President is terrified..."

Isn't that a bit strong language. As far a affecting his furture lifestye goes, does it make that big a difference in being a one termer versus a two term President that he would be terrified? One would think there could be an element of it being good to "get out of Dodge" at this time...

Fri, 12/09/2011 - 11:09 | 1962781 Bastiat
Bastiat's picture

The only thing that terrifies that clown is being exposed.

Fri, 12/09/2011 - 11:59 | 1963018 ElvisDog
ElvisDog's picture

You got that right. Obama will be treated like a king amongst the liberal elite, much like Bill Clinton was and is. He would have no shortage of money, speaking engagements, etc. He could go to any party he wants and attend any world event he likes. Other than narcissim, it's hard to fathom why he would want a 2nd term.

Fri, 12/09/2011 - 10:53 | 1962718 alien-IQ
alien-IQ's picture

Ok...so let me see if I got this straight: EU reached no real agreement other than agreeing to meet in the future to again fail to reach an agreement...and this somehow translates to the dollar tanking and stocks ramping?

Am I still sleeping? Is this just a dream? Is this an acid flashback? Have I fallen through the looking glass?

Fri, 12/09/2011 - 10:55 | 1962724 SmoothCoolSmoke
SmoothCoolSmoke's picture

Had McCain been in charge the past 3 years.................. I hate to even think where we'd be.

Fri, 12/09/2011 - 11:00 | 1962753 CrockettAlmanac.com
CrockettAlmanac.com's picture

We'd be exactly where we are now which, I agree, is not something that's pleasant to think about.

Fri, 12/09/2011 - 11:07 | 1962772 dwdollar
dwdollar's picture

We would probably be in the middle of WWIII. He would either be dead or cowering somewhere in a bunker.

Fri, 12/09/2011 - 11:24 | 1962848 Everybodys All ...
Everybodys All American's picture

pretty sad to accept Jimmy Carter redo as the best you can hope for.

Fri, 12/09/2011 - 10:55 | 1962726 forrestdweller
forrestdweller's picture

they are planning on making a plan.

all will be fine. i trust them.

Fri, 12/09/2011 - 11:33 | 1962886 Savyindallas
Savyindallas's picture

I am supremely confident they will plan on some kind of superconference to come up with a plan. The Europeans have "Top Men" working on it now. 

Fri, 12/09/2011 - 10:57 | 1962732 tradewithdave
tradewithdave's picture

It was fairly presumptuous for Lagarde in her "hope" memo from today that she bundled President Obama and Merkel in with Barroso and Van Rompuy.  Did the EU suddenly get a military or something?  Don't think or a minute POTUS won't start a war if necessary to resolve this.  Remember who has Germany's gold.... 

http://tradewithdave.com/?p=8608

 

 

Fri, 12/09/2011 - 10:57 | 1962733 San Diego Gold Bug
San Diego Gold Bug's picture

The upside of Euro land spinning out of control and slidding into the abyss is that Obama will not win in 2012.  The downside is that we will get sucked into the abyss months later  Buying some more gold today.  Found a great website that compares all of the large dealers prices in the US,  Comparegoldprices.com

I found this sight from a reader on TFmetals. 

Fri, 12/09/2011 - 10:57 | 1962737 Outlaw Of The W...
Outlaw Of The Wasteland's picture

The Cold War wasn't won.

 

The communists simply decided it would be cheaper and more effective to place their agents in positions in the schools, media and government institutions to completely destroy The West from within.

 

There is NO difference between the ussr and the eurozone that I can see.

 

Fri, 12/09/2011 - 10:57 | 1962740 ZeroPoint
ZeroPoint's picture

I am terrified of 43 million people who only get to eat because the government provides them with a card that allows them to buy food. Imagine if those cards stop working......

Fri, 12/09/2011 - 11:18 | 1962819 LFMayor
LFMayor's picture

that's what your "base metals" stockpile is for.  you'll have to work to keep what is yours, because they're going to want it when the sugar tit runs out.

Fri, 12/09/2011 - 11:35 | 1962894 mst
mst's picture

Besides, a nice pile of the right base meatal is easier to cast into the proper coinage to discourage people from taking what's yours.

Fri, 12/09/2011 - 13:49 | 1963537 LFMayor
LFMayor's picture

exactly!  I've been casting wheel weights into .452 230 grain and .356 125 grain for some time now.

Fri, 12/09/2011 - 11:24 | 1962851 Hippocratic Oaf
Hippocratic Oaf's picture

........and this will be the next chapter in the book of "It's All Fucked Up"

Fri, 12/09/2011 - 11:36 | 1962903 IQ 101
IQ 101's picture

If you think those 43 million are easting mac cheese and hamburger helper you would be mistaken, it is free money' and many are munching the finer things in life.

It is the self sustaining, employed but scraping by on noodles and crackers,dont have time to stand in line at the welfare office crowd that you should fear.

Im not knocking stampers at all, but it seems that a lot of people just say no to socialism and their unwavering mind set indicates a self sustaining

independance that will transform into wrath as the ship is driven further onto the rocks and they number far more than 43M.

Fri, 12/09/2011 - 11:49 | 1962947 topcallingtroll
topcallingtroll's picture

Our country did fine before food stamps existed.

Lazy dependent fucks need to re learn how to keep their own self from starving.

Pretty easy really. Pick up that damn rake and rake me a few leaves.

Food stamps need to go now!!!!

Fri, 12/09/2011 - 11:55 | 1962994 alfred b.
alfred b.'s picture

What is even more terrifying is that 85 million are dependent on the US gov't incl. food stamps, medicaid, social security, etc for their survival....and this number is scheduled to reack 100 million by mid-2014!!!

Buy gold and silver today!

Fri, 12/09/2011 - 10:58 | 1962743 PulauHantu29
PulauHantu29's picture

Unless Barry gets the market up and stops the plunge in housing he will have a tough time winning reelection.

Fri, 12/09/2011 - 11:01 | 1962759 alien-IQ
alien-IQ's picture

you should contact the local school districts to make sure that they include that information as part of their elementary school civics classes:

Q: "what does the president do?"

A: "He's supposed to make sure the stock market keeps going higher"

Sat, 12/10/2011 - 20:31 | 1966894 saiybat
saiybat's picture

and create jobs. It's too bad they took civics out of schools after the Vietnam war and logic courses too. Why would that be?

Fri, 12/09/2011 - 11:28 | 1962867 Savyindallas
Savyindallas's picture

Unless the Republicans nominate some imecile like McCain or Bush  - -say maybe  a Rick Perry or Gingrich?

 

The elites believe they have it rigged  -they can't lose-regardless of which party, they get a corrupt, immoral, crooked syphyllitic moron  -they may be right. As I drive down the street taking my son to school, I look at the people as I pass by  - and ask myself-do they really have a clue? Other than the internet, I rarely run into a physical person who knows what the hwell is going on.

 

We're Doomed.

Fri, 12/09/2011 - 10:59 | 1962746 CvlDobd
CvlDobd's picture

Has there been any discussion of DD earnings? To me this company is more important to the real economic outlook than Texas Instruments. Not that I don't appreciate the Texas Instruments coverage.

Fri, 12/09/2011 - 10:59 | 1962747 NEOSERF
NEOSERF's picture

So not that ZH hasn't already branched into politics with opinion but given its increasing clout, is an endorsement around the corner...Ron Paul?  or perhaps a write in movement ...

Fri, 12/09/2011 - 11:00 | 1962751 AGuy
AGuy's picture

Yawn. Not too worried if he going on a 17 day vacation to Hawaii. America Burns while Obama Plays.

Fri, 12/09/2011 - 11:02 | 1962761 j0nx
j0nx's picture

Lies. The President is only terrified of not being able to spend 2 weeks in Hawaii jet surfing with his family. He has the mind of a child when it comes to running a country. He is not afraid of not being reelected because he knows the GOP is running a clown car full of competitors for the job and because he knows Americans are on average retards who will most likely vote for him again, particularly the liberal ones. He sleeps like a baby at night if you ask me.

Fri, 12/09/2011 - 11:53 | 1962975 mst
mst's picture

Look at the way the O's approach everything: they have a grade school caricature of the whole picture: Middle americans are prissy morons, all bankers are the guy from the monopoly game lighting cigars with hundred dollar bills;  the president gives a noble speech so things happen/get better, the rich and powerful vacation at MV so we must vacation at MV, R&P people have entourages on their shopping trips to exotic locales so we have Michelle in Spain, the president is all-powerful, so he doesn't have to declare war, ask the congress, do his homework, follow due process, pay attention to the laws of economics, other nations sovereignty, allies, histor; he just commands and Things Get Done. This is the simplistic rap the leftists have always pushed in their propaganda about the presidency; Obama bases his approach to the office on believing the rap. He doesn't have a brain to realize the caricature is not the reality.

Fri, 12/09/2011 - 11:02 | 1962764 walküre
walküre's picture

How long until the bots and HFT machines figure out that there's nothing under either of the 3 cards? Where did the nut go they will wonder?

We can all pretend and ignore that the Euro economy and 500 million people entering one of the worst recessions their countries have ever faced. But how much longer?

The Netherlands entered recession status today officially. Greece and Italy are in depression.

Fri, 12/09/2011 - 11:05 | 1962773 monopoly
monopoly's picture

This is worse than a grade B horror movie. When is it over?

Fri, 12/09/2011 - 11:06 | 1962775 Amused2Death
Amused2Death's picture

It's obvious the world is not being run by politicians, so who cares who's the next puppet in line...

Fri, 12/09/2011 - 11:06 | 1962776 ACP
ACP's picture

Why would Obama be worried? Madman Bernanke is doing everything Obama can't by bypassing the Constitution altogether. If any large financial entity in the world fails, the Fed will just bail it out. In fact, if a bank fails, buy buy buy because you know how much money to going to be pumped into the spy, es, tf and whatever else is on the Fed's preferred illegal manipulation list.

Fri, 12/09/2011 - 11:09 | 1962782 alfred b.
alfred b.'s picture

 

This empty suit and half-witted pres. sends a tax-cheat clown to insert a complicated fix-up *?#+@* job in Europe......and you just have to know that there's a very funny punchline coming !!!!

Buy gold and silver!

 

 

Fri, 12/09/2011 - 11:09 | 1962785 Quinvarius
Quinvarius's picture

Now imagine a world where gold trades at its real value, without central banker interventions to slow it, and serves as an asset to counter all national debt.  Every problem is suddenly solved.  Wow.  So simple even a moron banker can do the math.  Debt is countered by assets or cash flow.  Since there is no cash flow, it needs the asset.

Too bad the central bankers would rather attack national solvency by raiding the gold markets with the ver same sovereign gold of the governmnets that need it to balance out their debt.  That is why this system will fail.  It is killing itself.

Fri, 12/09/2011 - 11:27 | 1962863 walküre
walküre's picture

Go further. Imagine a world where a worker's wage can afford to buy and PAY for a piece of land, a house and a vehicle made by another worker. Imagine a world where parasitic bankers are not allowed to leverage your deposits several times over and in the process drive up prices on everything so you have to take loans to pay for those things and pay them interest.

Imagine that world!

Fri, 12/09/2011 - 12:30 | 1963191 alfred b.
alfred b.'s picture

 

You must be referring to a world without the federal reserve and ben Bernanke !!!

Buy gold and silver today!

 

Fri, 12/09/2011 - 11:11 | 1962795 flyonmywall
flyonmywall's picture

I hear hurricanes ablowin'

I know the end is coming soon.

I fear rivers over flowin'

I hear the voice of rage and ruin.

 

Hope you got your things together.

Hope you're quite prepared to die.

Looks like we're in for nasty weather.

One eye is taken for an eye.

 

An eye for an eye, bitchez !

 

 

 

Fri, 12/09/2011 - 11:12 | 1962796 Fred123
Fred123's picture

Bari Shabazz will not be re-elected.

Fri, 12/09/2011 - 11:22 | 1962836 Everybodys All ...
Everybodys All American's picture

or the teleprompter breaks

Fri, 12/09/2011 - 11:23 | 1962840 Seasmoke
Seasmoke's picture

Europe needs a Super Committee

Fri, 12/09/2011 - 11:23 | 1962845 bugs_
bugs_'s picture

are all my european collapses so small?

Fri, 12/09/2011 - 11:24 | 1962846 Mark123
Mark123's picture

You have to admire Art Cashin...but I think the whole "will the Euro survive" issue is a futile discussion.  The real issue is that the entire world (people, corporations, governments, banking system) has borrowed far too much.  Even if everyone does the "right thing" and effectively manages the crisis, the exponential increase in debt is over.  That means the artificial growth enjoyed since the 1950's is over....reality lies ahead.  The best hope is we just reduce standard of living - the worst case is real war as governments choose that growth option. 

This latest plan from Europe is a complete joke. It is interesting that all civilizations now focus on economic growth...not intellectual growth (the money lenders have won).

 

Fri, 12/09/2011 - 11:41 | 1962925 oddjob
oddjob's picture

'You have to admire Art Cashin..'

Why?...statements like this prove where his loyalties lie. When Dickie left with $200 million he said:

"This is a sad day for the NYSE and Dick Grasso and for people who have worked so hard for the American investor," said Art Cashin, head of floor trading at UBS Paine Webber. "This is not a triumph for anyone."

A pile of dog shit is worth equal admiration.

Fri, 12/09/2011 - 11:30 | 1962876 walküre
walküre's picture

Nobody realizing yet that the UK has completely isolated itself from Europe and that Eurozone might take actions against the UK as a result.

The high stakes poker game by the UK could have a galvanizing effect of the Eurozone and could very well be the end of the City (London). The Windsors must be shitting their pants and the Red Shields are already being paged.

Fri, 12/09/2011 - 11:47 | 1962940 Sandmann
Sandmann's picture

The high stakes poker game by the UK could have a galvanizing effect of the Eurozone and could very well be the end of the City (London). The Windsors must be shitting their pants and the Red Shields are already being paged.

 

You don't really undersatand this stuff do you ? The EU comprises 27 Members and is bound by the Lisbon Treaty. You cannot suddenly usurp EU institutions to do what another group of 17+6 want to do. It is unconstitutional and illegal.  Merkel and Sarkozy would need to found a whole New EU and have the Verfassungsgericht approve the complete usurpation of the German Basic Law. It would be a true Machtergreifung and an Article 20 Moment. 

The simple truth is all these basket cases are clustering around the Bundesbank hoping it has collateral to bail out their bankrupt countries. The answer is it does not. The problem is Merkel will be backed into a corner by France and forced to close the Single Market and impose first Capital Controls and then Forex Controls to protect the smabolic banking system. 

It is significant that Josef Ackermann is jumping ship. The diaster that will overwhelm Germany will undo its constitutional order. There is no legal way to isolate Britain within the EU because it undermines the whole ECJ  premis as the apex of the national legal systems. This is not possible without an IGC. The EU is heading for the rocks and Britain has found a lifeboat. It may have a German Captain sailing  RMS Europa but it has a French engineer in charge below deck and I don't think the relationship will be a happy one this time next year.

German Savings are now at risk as is the Rentenversicherung......it will be used like Ireland to bail out banks. No great lover of The City, and wishing it would be brought to heel, I think this EU Mess is catastrophic for Germany and is another example of grandiosity on the part of politicians leading the German nation off a cliff.

Fri, 12/09/2011 - 13:31 | 1963436 oldman
oldman's picture

Green, Sandmann

No one at ZH seems to understand anything but fear and ridicule these days.

Only six months ago this was a different site and one that was continually interesting, but since then the positions have become much less flexible and the constant attacks upon the European Union and the Euro can only lead to an occassional thought that, perhaps, ZH has been taken over by the Fed. It is difficult to imagine that ZH has become stupid and polemic in such a short time, but this is another option.

In any event, I do not want to pick an argument or demonstrate any lack of the immense respect I had for Zerohedge for its past performance, but something is different these days.

Hopefully, it will get over this and return to being the important and interesting site that it was since its inception.

The crisis, OF COURSE, brings confusion and dislocation, if not complete chaos, but none of us really have a horse in the race---we are too experienced and intelligent for that. No matter where the shit flies we will make money because of the lack of attachment we have to our decisions. We will always have fun with whatever comes.

An old dude once said: "No gain-no loss" and I agree                 om

Fri, 12/09/2011 - 11:34 | 1962887 eddiebe
eddiebe's picture

Hello, everybody, nothing was ever in his control anyway. Well maybe he could control at least himself enough to quit smoking.

Fri, 12/09/2011 - 11:36 | 1962904 huckabuck
huckabuck's picture

Well Obama may be worried because "they" have not told him when he will be able to declare Marshall law when they crash the whole thing. Once he knows he is green lighted for that he can cancel elections until things settle down- The american public will be thankful I am sure.

The occupy movement is moving to a city near you and it won't be the wanna be hippies this time - they will have helmets and AR's. That is an occupy movement that could stay around through the cold weather. 

Fri, 12/09/2011 - 12:06 | 1963047 ElvisDog
ElvisDog's picture

Don't be silly. Obama will not declare martial law (not sure what Marshall law is). Why would he? He is in a win-win situation. If he's re-elected, why that's fine. If not, then he retires to the glorious life of an ex-President - speaking tours, fabulous vacations to Davos and other hot spots, etc., etc.

As for OWS, when they come up with a small, effective leadership group with real, concrete objectives (e.g. Castro and Guevara) I'll take notice.

Fri, 12/09/2011 - 14:36 | 1963706 weinerdog43
weinerdog43's picture

OWS is doing fine thank you.  The last thing we need is some media approved crackpot that the sheeple love.  OWS has already been successful in getting the stupid media to at least notice there are real problems out here.  You're correct about Barry though.  He wins regardless. 

Fri, 12/09/2011 - 11:37 | 1962906 overmedicatedun...
overmedicatedundersexed's picture

what ever the plan is, it does not aim to improve the standard of living of the west..just to keep the elite alien sociopaths in power, that is the plan.

if you do not own a ranch is SA or an island in the med..or life time protection by the SS (obuma)..things look dark..the only thing I cling to is the sufi saying:

The empty stomachs of the poor is the sword of allah..

Fri, 12/09/2011 - 11:41 | 1962923 Alex Kintner
Alex Kintner's picture

Obama is acting all "99%ish" lately to get reelected. As soon as he get reelected he'll go back to suking Wall St Dick. I just luv Obama when he gets all Campaigny and shit -- really 'acts' like he's with us.

But who can beat him? Newt? That freaking slimy POS.  Repubs will never nominate Ron Paul b/c they can't control him.

 

Full disclosure: Both parties suck.

Fri, 12/09/2011 - 12:03 | 1963040 djsmps
djsmps's picture

In this mode, he likes to use the word "folks" a lot.

Fri, 12/09/2011 - 11:43 | 1962929 High Plains Drifter
High Plains Drifter's picture

i disagree. obama could care less. obama is a shoe in, courtesy of the hidden hand which has decreed that he is to be there 4 more years....obama is about ready to go on vacation to hawaii . therefore he already lit the white house menorah two weeks early . yep the white house menorah?   that signifies who is in charge of all you amerikans in the gulag.....mr cashin seems to be a nice man but he doesn't understand what real politics and real finance are really all about......of course, working where he does and talking on the networks like he does, one can surmise that any discussion of these topics is, shall we say, career threatening, to say the least. 

Fri, 12/09/2011 - 11:44 | 1962934 NB
NB's picture

vote for Obama... and your gold and silver will soar in dollar value!

Fri, 12/09/2011 - 11:47 | 1962941 k2hygu
k2hygu's picture

It's not just the economic fallout in the us of the fall of europe that threaten obama it is also the proof that his socialist philosophy is not sustainable in the long run.

Fri, 12/09/2011 - 11:52 | 1962965 Snakeeyes
Snakeeyes's picture

Look at the IMF's forecast of Euroland GDP growth. And Obama/Europe solution is to add more debt!!!!!!!

 

Europe Moves Ahead With Fiscal Union, UK Declines – Europe Buys More Time With Bailout And Vague Promises Of Budget Cuts – Mission Impossible!

http://confoundedinterest.wordpress.com

 

Fri, 12/09/2011 - 11:58 | 1963011 daxtonbrown
daxtonbrown's picture

It doesn't matter now whether it is Gingrich or Obama, the can has been kicked too far and a collapse of some sort is inevitable. The FedGov is spending 40% more than it takes in. You can't make debt slaves out of future generations without there being a revolt. What that will look like is anyone's guess, but it certainly won't look like CWI because much of the modern 'physical' territory is the Internet. Here's an overview of what CWII would look like. http://www.futurnamics.com/civilwar.php

Fri, 12/09/2011 - 12:38 | 1963237 the grateful un...
the grateful unemployed's picture

wish he would have given us some details, because it seems that when another major global economy suffers, the US economy should prosper as a matter of course. Japan nosedived in the 90's, we did pretty well.

the time frame might work against the encumbent, if nobody is looking very healthy by say June, whoever wins will probably start to see the economic benefits the following year. if the forces that would block massive new debt expansion (its always an emergency in their world) gain the levers of power the US could write asset values down to a level where real economic growth could begin. (no Art doesn't want to see his stock market get a haircut) Obama is in the pocket of the big banks, so he's not the man. and neither are the rest of them either. my hope is that they can't figure out anybody, and the Congress takes back most of the power usurped by POTUS and SCOTUS the last several decades. Congress is unpopular because they have an impossible task. return their share of power and they'll work.

and if you are worried that Congress might start to pick on the big banks and Wall street out of PARTISAN bent, who cares really, if they do the job and restore this county to the people.

Fri, 12/09/2011 - 13:12 | 1963389 s2man
s2man's picture

I thought we were all terrified of a European collapse.  Because world finances are so intertwined, if they go down we all do.

Fri, 12/09/2011 - 14:04 | 1963589 forrestdweller
forrestdweller's picture

and if it was meant to count only the people killed by drones, it's a useless statement because it chooses to ignore the tens of thousands killed by bombs in the irak wars.

Fri, 12/09/2011 - 14:10 | 1963603 lakecity55
lakecity55's picture

Barry Soetoro, illegal alien puppet, is the worst thing that ever happened to the US. TPTB are using him to institute the Fascist Police State.  Bad as it may be, a collapse might save the Republic from totalitarian fascism and civil war.  Americans had better hang together or they will burn together in the Ovens at the FEMA Camps.

Fri, 12/09/2011 - 14:27 | 1963664 robertocarlos
robertocarlos's picture

The United States is a corporation and the CEO of said corporation does not have to be an American. You lost the country in 1871. Also maybe Obama is being re-born in Hawaii during his 17 day vacation.

Fri, 12/09/2011 - 14:20 | 1963633 dcb
dcb's picture

We think the President is terrified, since - if Europe goes, it’s likely he goes too. The biggest threat to his re-election may be completely out of his control. Could be an interesting weekend at the White House.

 

So Obama figures his re-election chances depend on making the banking community happy. (LOL), what a crock. Just the way he's run his presidency.

Fri, 12/09/2011 - 14:32 | 1963691 dcb
dcb's picture

The Euro leaders continue to plan and plot toward long range solutions, but they lack a crisis plan.

 

Once more wrong thinking. those silly europenas looking for a long term solution. instead of the us plan, which is to have no long term solution, but always bail out the bankers in a crisis.

Fri, 12/09/2011 - 14:58 | 1963819 forrestdweller
forrestdweller's picture

how to make a difference between a fact and an opinion.

something most of the people here don't know how to do.

thanks to the american educational services.

Do NOT follow this link or you will be banned from the site!