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Boehner Balking?

Tyler Durden's picture




 

Oops. From Washington Wire again: "House Speaker John Boehner (R., Ohio) appears to be balking at the debt ceiling deal that Senate Democratic Majority Leader Harry Reid of Nevada has signed. Mr. Boehner is concerned about provisions in the deal that could lead to sharp cuts in military spending, say people familiar with the situation. House aides have warned that just because Mr. Reid has signed off on the deal doesn’t mean the deal is done." From limit up to limit down in one easy (yet unconfirmed) headline.

 

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Sun, 07/31/2011 - 18:46 | 1510651 snowball777
snowball777's picture

Buauahahahahahahahahahahaha, bitchez.

Sun, 07/31/2011 - 19:02 | 1510714 Fish Gone Bad
Fish Gone Bad's picture

Why hasn't someone (in office) come up with a better plan?  I know, I know, because the only plan is to make it someone else's problem.  What a bunch of spineless cowards.  Think the Tea Party is making a mess of things now, just wait until the next election.  Does anyone in office actually have a spine?

Sun, 07/31/2011 - 19:07 | 1510738 LetThemEatRand
LetThemEatRand's picture

The red team and the blue team both actually have very strong spines.  They fight like hell for the bankers and oligopolists who fund both of them, and they routinely have the balls to make utterly false speeches in which they pretend to ascribe to a political viewpoint other than, "what do my big donors and power brokers want me to do now."   

Sun, 07/31/2011 - 19:14 | 1510761 snowball777
snowball777's picture

That's not a spine, that's a neurological dysfunction.

Sun, 07/31/2011 - 19:40 | 1510824 wanklord
wanklord's picture

Americans are a bunch of stupid animals easy to manipulate and subdue.The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means. Time for Barry to govern by decree: suspend the Constitution and declare Martial Law.

Sun, 07/31/2011 - 19:46 | 1510835 Atomizer
Sun, 07/31/2011 - 19:53 | 1510849 Scisco
Scisco's picture

Sorry about you live where exactly? I can only think of a handful of places that are an exception to your statement.

Sun, 07/31/2011 - 20:22 | 1510918 knukles
knukles's picture

Cannot be other than a Pelousy staffer from San Francisco

Sun, 07/31/2011 - 20:41 | 1510973 Atomizer
Atomizer's picture

I live in the USA. You missed a generation that warned you about racial division and separation. The political correct UN mandate will continue. Comedy will follow.

Black White Supremist Dave Chappelle Complete

http://www.youtube.com/watch?v=BHFUH_frhBw

See, we bond. You lose. Americans can see thru the MSM bullshit. BTW, I have several negro friends.They drop the N word when they get pissed about Obama.

Sun, 07/31/2011 - 22:17 | 1511323 trav7777
trav7777's picture

LOL...black people say nigger all the time, idiot.  You have several negro friends ROTFL

Sun, 07/31/2011 - 20:01 | 1510866 NumNutt
NumNutt's picture

Carefull, if the US folds, that would mean we won't be available to bail out your armpit of a country next time they get in to trouble. Which if you are any where in Europe will be in 3, 2, 1.......

Sun, 07/31/2011 - 20:06 | 1510876 MsCreant
MsCreant's picture

I do believe you have been wanked by the wanklord.

Sun, 07/31/2011 - 20:52 | 1510928 Goldilocks
Goldilocks's picture

Adam Weishaupt. ... Aptly named here as, “wanklord.”

Fri, 09/30/2011 - 07:45 | 1725202 rossi
rossi's picture

My guess is that the "deal" will be sealed sometime closer to the end of the week. It still hasnt passed the senate, let alone getting enough votes from the house again. Some type of short term extension will be provided so that god forbid we dont default. But no way this gets signed by the president by tuesday night. Again, first the senate vote was to be held at 1:00 am sunday, then1:00 pm sunday, now its past 7pm and still no senate vote. Short term 10 day extension or what not happens to dot the i's and cross the t's. viagra without prescription

Sun, 07/31/2011 - 20:11 | 1510883 Newsboy
Newsboy's picture

Confirmed: Wanklord sarcasm detected.

Sun, 07/31/2011 - 20:25 | 1510923 snowball777
snowball777's picture

For fuck's sake...put something else in the copy-paste buffer already.

Sun, 07/31/2011 - 23:56 | 1511496 samslaught
samslaught's picture

Though our freedom has been eroded over the last 200 years we have still been free longer than any other nation in history. If it wasn't for failing European ideas infecting the united states from time to time we would be much better off

Mon, 08/01/2011 - 09:51 | 1512274 thewhitelion
thewhitelion's picture

"Americans are a bunch of stupid animals easy to manipulate and subdue."

I feel like I've heard this before somewhere. . .

Sun, 07/31/2011 - 19:15 | 1510768 JLee2027
JLee2027's picture

Just Ron Paul

Sun, 07/31/2011 - 20:20 | 1510896 Cdad
Cdad's picture

 

 

 

Dear Mr. Speaker of the House,

It is Sunday, and I am led to believe that the US House of Representatives, in coordination with the Senate and the President, is about to deliver a debt ceiling hike based on promises to cut spending beyond 2012, a debt ceiling hike like never seen before in our nation, cuts to be later delivered by the instrument that has come to be known as a "Super Congress," otherwise known as asking Congressmen in safe districts to vote on spending cuts that will never actually occur, with only the inducement of a balanced budget amendment vote that everyone knows will be killed on the Senate floor.

These things being true, and with the House of Representatives preparing to deliver the compromise through the support of House Democrats, and in a vote demonstrating no confidence for Tea Party members in the House...the only members thus far having demonstrated a true understanding of the fiscal gravity of this mess made by decades of DC born fiscal carelessness....

 

 ...I respectfully call on you to resign in your capacity as House Speaker upon casting a vote in support of such a plan.

 

Cdad

 

[yet another angry American and former Republican]

 

 

Sun, 07/31/2011 - 19:18 | 1510777 Ramboy
Ramboy's picture

The American people are in denial.  Their politicians reflect their behaviors.  Americans are whore spenders on credit.  Denying this is blindness and hypocritical.    

Sun, 07/31/2011 - 19:20 | 1510779 Milestones
Milestones's picture

 

Old McDonald had a plan, ey ey O. With a plan plan here and a plan plan there; Here a plan, there a plan; Every where a plan plan. Old McDonald had a plan, ey ey O.   Gawd help us!!      MIlestones 

·         edit 

 

Sun, 07/31/2011 - 20:16 | 1510895 nmewn
nmewn's picture

I wonder how many trades just got cancelled...lol...wheres the wildebeests running back & forth? ;-)

Mon, 08/01/2011 - 00:36 | 1511564 StychoKiller
StychoKiller's picture

Down by the riverside, feeding the crocodiles! :>D

Mon, 08/01/2011 - 04:58 | 1511816 nmewn
nmewn's picture

;-)

This is what they call sales churn.

Sun, 07/31/2011 - 19:28 | 1510799 monoloco
monoloco's picture

Don't worry in the next day or two the spineless bastards will pat each other on the back and celebrate the great bi-partisan deal they came up with that preserves the status quo and accomplishes nothing. 

Sun, 07/31/2011 - 21:06 | 1511057 IgnisFatuus
IgnisFatuus's picture

The word Bipartisian usually means some larger-than-usual deception is being carried out.

George Carlin

Sun, 07/31/2011 - 19:35 | 1510817 G-R-U-N-T
G-R-U-N-T's picture

Our financial system has become so politisized it's hopeless. Ugh!

Sun, 07/31/2011 - 19:59 | 1510865 Pay Day Today
Pay Day Today's picture

Uh, the real problem is that our political system has become so financialised, that IT is hopeless.

Sun, 07/31/2011 - 20:29 | 1510942 espirit
espirit's picture

Uh, more like franchised.

Sun, 07/31/2011 - 19:57 | 1510858 NumNutt
NumNutt's picture

funny, your post was exactly how I reacted when I read the article...

Sun, 07/31/2011 - 20:23 | 1510920 max2205
max2205's picture

Boehner better not fuck this fuck. He has only this chance. No mulligans

Sun, 07/31/2011 - 20:26 | 1510929 espirit
espirit's picture

Isn't that what Boners do?

Sun, 07/31/2011 - 18:47 | 1510652 caerus
caerus's picture

shocking...what a surprise...

Sun, 07/31/2011 - 18:50 | 1510653 Quintus
Quintus's picture

From limit up to limit down in one easy (yet unconfirmed) headline.

 

Nah.  Headline reading Algos only act on headlines that are positive for Stawks.  This isn't positive, ergo nothing will happen.

Fuck it, Boehner could walk into the oval office, tear the agreement into tiny pieces and throw it over Obama's head like confetti and 'Investors' would still find some reason to buy the R2k.

Sun, 07/31/2011 - 18:48 | 1510656 stormsailor
stormsailor's picture

joy to the fuckin world, whats he holding out for an ass poke from bwaney fwank

Sun, 07/31/2011 - 18:51 | 1510659 knukles
knukles's picture

Where id the Greek God Testicleese when we need him?

We need to stop taking this shit seriously.

Sun, 07/31/2011 - 19:37 | 1510819 MsCreant
MsCreant's picture

No debt, no Fed, no spoon, no president, no congress, no debt ceiling. We believe, they can manipulate. We try to guess how others will believe, they will still manipulate.

Sun, 07/31/2011 - 19:41 | 1510829 WmMcK
WmMcK's picture

With Diabetes and Trigononsis.

Sun, 07/31/2011 - 18:49 | 1510661 jtmo3
jtmo3's picture

A bunch of crusty old bastards shaking me down in a room I paid for (or should I say my great great grandkids paid for). What could dgo wrong with a deal struck like that? I've pretty much given up hope that any sanity will prevail before shit explodes.

He's balking at military cuts. Ya, they could use some cuts but lets cut the miltary while the free shit army keeps what they "deserve"? You couldn't make this shit up any better if you were steven king.

Sun, 07/31/2011 - 19:05 | 1510725 Hero Protagonist
Hero Protagonist's picture

How bout the banksters and the financial industry bonuses?  Let's get some of that back as well.

Sun, 07/31/2011 - 19:56 | 1510855 Scisco
Scisco's picture

I am sure if they they were cut off from Fed funding and bailouts the bonuses would correct themselves.

Sun, 07/31/2011 - 19:08 | 1510744 caerus
caerus's picture

take this with a grain of salt, but my military buddy was summoned last week for a confidential meeting, the wives are going to talk to brass tomorrow...i'm guessing some soldiers aren't getting paid...hearsay, i know...

Sun, 07/31/2011 - 19:12 | 1510754 Quintus
Quintus's picture

Any regime that's running out of cash will ensure that they always pay the police and military ahead of everyone else. 

Having the capacity to maintain public order becomes rather important when the government stops paying its bills and handing out benefits to the population.

Sun, 07/31/2011 - 19:13 | 1510758 caerus
caerus's picture

you may be right

Sun, 07/31/2011 - 19:58 | 1510862 Scisco
Scisco's picture

Any regime that's running out of cash will ensure that politicians will be paid first. Closely followed by the police and military.

There fix it.

Sun, 07/31/2011 - 20:01 | 1510867 Pay Day Today
Pay Day Today's picture

But what about the old people, the sick and the homeless?

Sun, 07/31/2011 - 20:45 | 1510982 nmewn
nmewn's picture

Barry says "he can't guarantee it"...but with him, your mileage will vary.

Sun, 07/31/2011 - 20:24 | 1510922 Bobbyrib
Bobbyrib's picture

Military personnel should be in line to get paid right after Treasury holders. It's ridiculous to even thinking off stiffing the people who protect us.

Sun, 07/31/2011 - 19:13 | 1510757 HungrySeagull
HungrySeagull's picture

The Wives are very good at what they do.

Watch them because where they go, so goes the military.

Sun, 07/31/2011 - 20:12 | 1510886 takeaction
takeaction's picture

I found it kind of strange to see one of these drive by in my neigborhood.  I live in a suburb of Portland Oregon next to a golf course..and I have never seen one of these until today.  No license plates..full armour and the turret on the top.

http://www.nationaldefensemagazine.org/SiteCollectionImages/issues/2007/...

.

I am sure I am a little paranoid with all of this shit about to hit the fan...but still weird.

 

Sun, 07/31/2011 - 20:32 | 1510948 espirit
espirit's picture

Probably your local representative getting set to tee off.  They can't be too careful nowdays.

Sun, 07/31/2011 - 20:20 | 1510910 -Michelle-
-Michelle-'s picture

My husband is military.  We've heard nothing about that.  He was in plenty of meetings back in April when there was an actual pay issue (no delay, but one paycheck had to be split in two payments).

However, if you look at military banking sites like USAA or Navy Federal, they've all got plans in place to front a paycheck to all their military customers on the 15th, if need be.  USAA is also going to forgive any property or casualty insurance payments for 30 days.

Sun, 07/31/2011 - 18:57 | 1510662 tallen
tallen's picture

No one could have seen this coming. Boner throwing all his toys out the pram again.

Sun, 07/31/2011 - 18:53 | 1510666 russwinter
russwinter's picture

Numbers reported at Washington Wire don't match earlier reports of $1 trillion and $1.8 trillion. No incentive for the commitee to cut, would only be $1.2 trillion, weak Tea Party could never support this:

 

 

Here’s the outline of the debt ceiling deal as of now, according to officials on both sides:

* $900 billion in the first stage of deficit reduction.

* $1.5 trillion in second stage of deficit reduction to be defined by a bipartisan special committee of lawmakers appointed by leaders of the House and Senate.

* If the special committee fails to deliver a deficit-cutting package that would trigger $1.2 trillion in cuts, half would be Defense cuts and the other half would be non-Defense cuts, exempting low-income programs Social Security and Medicaid, and only impacting providers in Medicare.

* The debt ceiling increase would be done in three phases: $400 billion initially; another $500 billion later thise year would be subject to a vote of disapproval; a third increase of $1.5 to get the rest through 2012 and would also be subject to vote of disapproval.

 

Sun, 07/31/2011 - 18:53 | 1510670 knukles
knukles's picture

In other words, not a fucking thing's gonna change.

Sun, 07/31/2011 - 19:06 | 1510731 Fish Gone Bad
Fish Gone Bad's picture

Does anything ever change?  There is screaming, crying, and finger pointing, and then nothing changes.

Fri, 09/30/2011 - 07:49 | 1725211 rossi
rossi's picture

Spot on with the "appearance" sake squawk. The military industrial complex is a huge force over 800 billion per year juggernaut. Also they hold special status with the people as the US military is a source of many American's national pride, the fact that the US military can kick the crap out of every other military in the world. Imperialistic undertones should not be dismissed in this environment, especially when the currency starts croaking. kamagra | buy viagra

Sun, 07/31/2011 - 19:09 | 1510747 darkstar7646
darkstar7646's picture

No, in other words, we're basically accomplishing nothing.  The $400B that would be the first leg basically has already been spent to get us this far.

Sun, 07/31/2011 - 19:38 | 1510820 Mr.Kowalski
Mr.Kowalski's picture

"half would be Defense cuts and the other half would be non-Defense cuts, exempting low-income programs Social Security and Medicaid, and only impacting providers in Medicare"

This will never pass the House. Never. I can't believe McConnell would sign his name to that lump of sh!t.

Sun, 07/31/2011 - 20:18 | 1510904 russwinter
russwinter's picture

I don't think he did, the McConell report was for $1 trillion, and $1.8 trillion. Reid did a switcheroo right before the Asain markets opened. This is pure manipulation, I don't see the House Republicans going along with the watered down Reid $900 billion/$1.2 trillion version.

Reporting on this latest phase is horrible. 

Sun, 07/31/2011 - 18:52 | 1510668 Cleanclog
Cleanclog's picture

Since when is Congressional "buyers remorse/spending like drunken sailors" resolved by non payment - ala not raising debt ceiling to pay for things already purchased, serviced, etc.  Appalling and dishonorable.

Sun, 07/31/2011 - 18:52 | 1510669 Missiondweller
Missiondweller's picture

Tomorrow's opening may be interesting after all. DC may finally get the market panic they were hoping for.

Sun, 07/31/2011 - 19:10 | 1510750 darkstar7646
darkstar7646's picture

If they are hoping for it, they will get it -- and they might not even have to wait until tomorrow.  Watch Asia tonight and Europe overnight.

Sun, 07/31/2011 - 18:53 | 1510672 Nate H
Nate H's picture

Where can one get live ES future
s quotes?

Sun, 07/31/2011 - 18:55 | 1510686 stormsailor
stormsailor's picture

i recommend thinkorswim, but you have to fund an account. up 16.25 as we speak

Sun, 07/31/2011 - 19:16 | 1510770 CD
CD's picture

You have to go through all the steps of application and setting up the account, but you do not actually have to transfer money in. Or perhaps my account was just grandfathered in/an oversight on their part. But agree on TOS being a very efficient, excellent platform.

Sun, 07/31/2011 - 21:12 | 1511083 Blano
Blano's picture

I believe you to be correct.  I use TOS to paper trade only (for now) and yes it is great.

Sun, 07/31/2011 - 18:59 | 1510697 Royal Fleming
Royal Fleming's picture

Try TOS...think or swim...open free account...and watch it until your head explodes...

 

Sun, 07/31/2011 - 18:59 | 1510699 Subprime JD
Subprime JD's picture

Check out INO.com or simply google "e mini S&P 500 INO"

ES now at 1305

Sun, 07/31/2011 - 19:07 | 1510733 pdizzle
pdizzle's picture

google cnbc pre, nice quick layout

 

Sun, 07/31/2011 - 19:23 | 1510787 John_Coltrane
John_Coltrane's picture

http://finviz.com/futures_charts.ashx?t=ALL&p=h1

 

type it into your browser window.  Not really much action yet.

Sun, 07/31/2011 - 19:30 | 1510805 Nate H
Nate H's picture

TY. very helpful

Sun, 07/31/2011 - 19:30 | 1510803 ThisIsBob
ThisIsBob's picture

forexpros dot com

Sun, 07/31/2011 - 18:53 | 1510673 stormsailor
stormsailor's picture

no cutting tbtf, or the gubmint check cadre,  where would we be without their votes?

Sun, 07/31/2011 - 18:54 | 1510675 anynonmous
anynonmous's picture

Boener bachmanning

 

not a chance he owns the reps who sold their souls and passed his bill

Sun, 07/31/2011 - 18:54 | 1510676 High Plains Drifter
High Plains Drifter's picture

how about the one million white man march on washington, fully armed too.......zerohedge will be the online sponser of the event with tyler durden as the main speaker (of course with insurgent mask on to hide his identity).......:)

Sun, 07/31/2011 - 18:58 | 1510695 yabyum
yabyum's picture

WHY JUST WHITE? WHAT GIVES THEM THE RIGHT TO BE BONED AS A RACE? ENOUGH SHIT TO GO AROUND AMIGO.

Sun, 07/31/2011 - 18:59 | 1510700 High Plains Drifter
High Plains Drifter's picture

anybody that wants to help may help. color is not the issue. you got to fight........for the right...........to party..........

Sun, 07/31/2011 - 19:46 | 1510836 WmMcK
WmMcK's picture

Beasty Boyz and Bitchez.

Sun, 07/31/2011 - 20:15 | 1510891 NumNutt
NumNutt's picture

How about the million pissed off tax payer march. And yes with weapons, not like those silly Greece riots...except I have found it damn hard to make molotov cocktails with plastic soda bottles....everyone will need to drink a bunch of beer before hand, bring your empties!

Sun, 07/31/2011 - 18:54 | 1510678 disabledvet
disabledvet's picture

Oooops!

Sun, 07/31/2011 - 18:59 | 1510684 rapier
rapier's picture

Oh grow up. Boehner has to squawk on this for appearance sake.  Besides those future cuts are as solid a jello. Nobody is cutting the military. They just have to say they are in the future, to get a deal. The whole thing is a bunch of winks and nods meaning nothing.

To the extent that bankers are running the show the one power they cannot cross is the military.  There has to be an agreement between corporate power and the military.  Those are the two emergent political powers.  Everything else which is called government is side show for entertainment purposes only. The banks will control the governments purse strings but they can't cut off the military.

Sun, 07/31/2011 - 19:03 | 1510722 Subprime JD
Subprime JD's picture

Excellent political analysis sir!

 

Spot on with the "appearance" sake squawk. The military industrial complex is a huge force over 800 billion per year juggernaut. Also they hold special status with the people as the US military is a source of many American's national pride, the fact that the US military can kick the crap out of every other military in the world. Imperialistic undertones should not be dismissed in this environment, especially when the currency starts croaking.

Sun, 07/31/2011 - 19:35 | 1510816 monoloco
monoloco's picture

800 billion is just the on the books number, it's really quite larger than that. It's much better to balance the budget on the backs of the poor and the elderly than to fuck with our ability to cause havoc around the world.

Sun, 07/31/2011 - 20:39 | 1510968 robertocarlos
robertocarlos's picture

A case might be made that without the military you have no cheap oil and without cheap oil you have no chance of providing the poor with any scraps.

Sun, 07/31/2011 - 20:41 | 1510974 High Plains Drifter
High Plains Drifter's picture

speaking of squawk, i sure miss mark haines.....

 

 

Sun, 07/31/2011 - 18:55 | 1510685 Havana White
Havana White's picture

Mil-Indst-Cmplx bitchslaps boner-man, sez do as yer told.

Sun, 07/31/2011 - 18:56 | 1510688 yabyum
yabyum's picture

IS IT JUST ME , OR ARE WE DEALING WITH THE .44 MAGNUM OF DRAMA QUEENS? ALL OF 'EM, TO THE INDIVIDUAL BASTARD!

Sun, 07/31/2011 - 18:58 | 1510696 High Plains Drifter
High Plains Drifter's picture

you just watch. pretty soon , they will show him crying , at the podium...........boo hoo hoo, i am crying for all of you dumb amerikans out there..........boo hoo hoo..........

 

 

Sun, 07/31/2011 - 18:59 | 1510702 yabyum
yabyum's picture

HE WILL WEEP..........TAKE IT TO THE BANK.

Sun, 07/31/2011 - 18:59 | 1510698 Re-Discovery
Re-Discovery's picture

aaaannnnddd fade to risk off

Sun, 07/31/2011 - 19:00 | 1510706 Cassandra Syndrome
Cassandra Syndrome's picture

This shit is even too confusing for Skynet to process. Could fry their circuits.

Sun, 07/31/2011 - 19:02 | 1510716 Fix It Again Timmy
Fix It Again Timmy's picture

It's insanity from annny perspective, no matter which waaay you look at it, no matter whaaat view you take...  It's simply come to allll thaaat....

Sun, 07/31/2011 - 19:02 | 1510718 Ramboy
Ramboy's picture

anyone who thinks this wasn't gonna go thru probably grew up hating his mom.

Sun, 07/31/2011 - 19:03 | 1510720 Bastiat
Bastiat's picture

Nothing worse than a balky Boehner.

Sun, 07/31/2011 - 19:04 | 1510724 lelouch
lelouch's picture

Does anyone know about this  - The $1 Billion Armageddon Trade Placed Against The United States

http://etfdailynews.com/2011/07/25/investors-the-1-billion-armageddon-tr....

I'm hoping ZH readers can provide more insight. I'm just a newb, but if this is real, who could've placed a bet this big?

Sun, 07/31/2011 - 19:08 | 1510742 Quintus
Quintus's picture

The name 'George Soros' springs to mind for some reason.

Sun, 07/31/2011 - 19:19 | 1510767 Debt Rolling
Debt Rolling's picture

One billion ain't what it used to be. Inflation, etc. 

That aside, this bet is not extraordinarily big because it is very probably levered (like nearly all futures contracts). An open notional value of 1M in a call ES contract can be backed by 50k USD of actual capital. A one billion contract is child play for any small hedge fund. 

It's just newspapers in lack of hits which hype this story. 

Sun, 07/31/2011 - 19:17 | 1510773 Fish Gone Bad
Fish Gone Bad's picture

I have no idea who placed the bet.  Probably a friend.  Friends are always the ones who will step up once you are down.  **Everything counts in large amounts (http://www.youtube.com/watch?v=1t-gK-9EIq4)**

Sun, 07/31/2011 - 19:32 | 1510810 Spastica Rex
Spastica Rex's picture

Depeche Mode +1

Sun, 07/31/2011 - 19:27 | 1510796 Tyler Durden
Tyler Durden's picture

This analysis is wrong. First the leverage works the other way, so the capital at risk is the inverse of what was posted. Second, there was someone on the other side. So the post could have just as easily been titled the $1 billion Anti Armageddon trade. Next, CDS are far more levered ways to express an "end of days" view on life. This was most certainly a synthetic hedge to €$ positions. Lastly, far larger notional trades occur on a daily basis (follow our tweets: we show every notable bond futures trade). This is merely an attempt to goalseek a conclusion based on some data point.

The real scandal is who is selling bond future puts on a recurring basis. Hint: the Fed and its proxies, in order to keep underlying prices high.

Sun, 07/31/2011 - 20:34 | 1510953 knukles
knukles's picture

Tee-heeh.
And just to think of the accumulated underlying aggregate understated in the "Other Asset" line on their balance sheet.

(sigh.... )

Reminds me of exchanges between Ren and Stimpy.

Sun, 07/31/2011 - 21:17 | 1511124 bobert
bobert's picture

I'm glad you clarified this.

I was wondering why some one who thought bond prices were going to collapse would go long $1Billion in bonds.

The rise is yields last week put a pretty dent in my bullish interest rate bet (PST)

Sun, 07/31/2011 - 20:35 | 1510950 max2205
max2205's picture

Well the TLT closed up 2.3% Friday so at ten x leverage they are Down 23%. It was a bet a deal would get done imo. Backfire

Sun, 07/31/2011 - 19:06 | 1510729 floydian slip
floydian slip's picture

Just remember folks.  Nothing is official until Boehner cries like a little girl.

Sun, 07/31/2011 - 21:05 | 1511049 CompassionateFascist
CompassionateFascist's picture

A few weeks ago, big B wept while dedicating a statue of...Gerald Ford.

Sun, 07/31/2011 - 19:06 | 1510732 Subprime JD
Subprime JD's picture

My guess is that the "deal" will be sealed sometime closer to the end of the week. It still hasnt passed the senate, let alone getting enough votes from the house again. Some type of short term extension will be provided so that god forbid we dont default. But no way this gets signed by the president by tuesday night.

 

Again, first the senate vote was to be held at 1:00 am sunday, then1:00 pm sunday, now its past 7pm and still no senate vote. Short term 10 day extension or what not happens to dot the i's and cross the t's.

Sun, 07/31/2011 - 19:07 | 1510734 gimli
gimli's picture

sounds like a new verse .......... uh huh

http://www.youtube.com/watch?v=umrp1tIBY8Q

 

Sun, 07/31/2011 - 19:08 | 1510740 High Plains Drifter
High Plains Drifter's picture

they want to cut everywhere except the neocon war machine.........make war and make money.........

Sun, 07/31/2011 - 19:10 | 1510749 barkingbill
barkingbill's picture

boner can't cut defense....what a shame...for amerika. 

Sun, 07/31/2011 - 19:13 | 1510756 Subprime JD
Subprime JD's picture

I junked you because military spending is a big reason we are in this mess. And no its not "defense" spending but cost of empire.

Sun, 07/31/2011 - 19:50 | 1510844 zorba THE GREEK
zorba THE GREEK's picture

Are you referring to the great U.S. War Machine that can't defeat a third-world octogenarian dictator who dresses like Lady Gaga?

Sun, 07/31/2011 - 21:09 | 1511064 CompassionateFascist
CompassionateFascist's picture

Hey, hey, HEY! That's US + Brit +French War Machines....oh, wait, France.....the one with the longest losing streak in the history of human institutions.

Sun, 07/31/2011 - 19:11 | 1510751 Royal Fleming
Royal Fleming's picture

Without sounding partisan.or rascist.I am imbarassed to see the collection of assfucks that are running/walkin our country into the ground.Nancy Reid and Harry Pelosi are the biggest waste of oxygen on the planet

Sun, 07/31/2011 - 19:14 | 1510764 oldmanagain
oldmanagain's picture

Is the TP the American version of the Third Reich?

Sun, 07/31/2011 - 19:18 | 1510778 magpie
magpie's picture

wow, equating people with unrealistic tax cut expectations with those who wanted to forcefully redistribute wealth and murder half of Europe. Apt metaphor, Sir.

Sun, 07/31/2011 - 19:49 | 1510842 HellFish
HellFish's picture

Your talking points are showing. Pathetic.

Sun, 07/31/2011 - 21:25 | 1511160 Blano
Blano's picture

I don't care if my parents said to respect your elders.....you really need to go fuck yourself.

Sun, 07/31/2011 - 19:17 | 1510772 Quintus
Quintus's picture

Latest update.  Boehner signs on the line.

 


House Republican leaders have agreed to a “tentative deal” to lift the U.S. debt ceiling and cut the deficit by roughly $2.4 trillion in a series of stages. House leaders have scheduled a briefing for their caucus at 8:30, aides say. The move comes after a long afternoon during which House Speaker John Boehner (R., Ohio), balked at proposals that could lead to sharp cuts in military spending.

Earlier, Senate Majority Leader Harry Reid (D., Nev.) "signed off" on a debt-ceiling plan pending the approval of the Senate Democratic caucus, a congressional aide said Sunday.

Now, the leaders have to round up their troops and schedule votes.

Sun, 07/31/2011 - 19:31 | 1510806 John_Coltrane
John_Coltrane's picture

The round up the troops part is where this "deal" fails as did the others.  I doubt it can get out of the senate by Tuesday and certainly can't pass the house.  Rand Paul has promised to count by ones up to the current ceiling limit as part of his filabuster-that should take around a decade-and Reid doens't have the votes for cloture.  And Paul doesn't care about being re-elected in 6 years as he has reall skills as a doctor.  Count on it!  The tea party isn't a bunch of professional politicians like Reid-they came for one thing-defeat the statists.  No compromise: cut, cap and balance or nothing-live on cash flow.

Sun, 07/31/2011 - 19:55 | 1510853 Long-John-Silver
Long-John-Silver's picture

+1781

Time to Party with the Guillotine in Washington D.C.

Yeah Yeah Yeah - Heads Will Roll

http://youtu.be/auzfTPp4moA

Sun, 07/31/2011 - 19:58 | 1510863 firefighter302
firefighter302's picture

I like your style, Mr. Coltrane.

Sun, 07/31/2011 - 20:18 | 1510897 takeaction
takeaction's picture
How long would it take to count to 1 billion if it took a second to count to each number?

.

31 years, 251 days, 7 hours, 46 minutes, and 39 seconds to count to 1 billion.

To count to 1 billion would take 999,999,999 seconds, because the timer would start as soon as the person says "one", one second would
have passed when the person says "two," and so on.

.

And it would actually take you waaaaay longer because you can't say this number 6,567,343 in 1 second.  LOL

Sun, 07/31/2011 - 19:22 | 1510784 AldousHuxley
AldousHuxley's picture

Truth comes out. Republicans spending your tax dollars too,except they use it for war.

 

Here comes NAZI America....except this time the Jews are in charge

Sun, 07/31/2011 - 19:25 | 1510795 magpie
magpie's picture

Some believe in guns, others in guns and butter.

Sun, 07/31/2011 - 20:38 | 1510961 knukles
knukles's picture

And some in butter and butt plugs...

...bend over serf!

Sun, 07/31/2011 - 19:58 | 1510859 Long-John-Silver
Long-John-Silver's picture

"Republicans spending your tax dollars too,except they use it for war."

 

Did you forget about Libya, Yemen, and Syria? 

Sun, 07/31/2011 - 20:43 | 1510979 High Plains Drifter
High Plains Drifter's picture

they have always been in charge...........:)

Sun, 07/31/2011 - 19:23 | 1510789 JackES
JackES's picture

Boner strikes again.

Sun, 07/31/2011 - 19:25 | 1510792 Hedgetard55
Hedgetard55's picture

Meanwhile Assad sending tanks into Hama and killing hundreds. Where is Bambam? Hillary!? Twiddling their thumbs?

Sun, 07/31/2011 - 20:21 | 1510916 snowball777
snowball777's picture

All circuits are currently busy. If you'd like to make a call...

Sun, 07/31/2011 - 20:42 | 1510975 knukles
knukles's picture

No oil, no gold, no calls.

Hey lookie there!  Spellcheck is back!

Sun, 07/31/2011 - 19:28 | 1510798 CrankItTo11
CrankItTo11's picture

Unfortunately, the only thing we can count on bringing this show to a stop is the laws of economics whenever the Event Horizon is reached.

They will kick the can, they will raise the ceiling, they will print, they will devalue, they will sell out, and on and on and on until then. You know the script, you know the story, you know the ending. The only question now is, when?

Eventually... the music stops, the curtains close, the theater burns to the ground, and the laws of economics strike back with a vengeance. 

Sun, 07/31/2011 - 19:30 | 1510802 erg
erg's picture

Boehner flaccid with Reid deal. More flaccid posturing politicians to follow.

Sun, 07/31/2011 - 19:33 | 1510811 High Plains Drifter
High Plains Drifter's picture

they will probably sign this thing into law tonight about 2 in the morning, just in time for the longs to get on board......

 

 

Sun, 07/31/2011 - 20:03 | 1510868 stormsailor
stormsailor's picture

i can hit about 700 yds out.  thats how i want to go long

Sun, 07/31/2011 - 20:47 | 1510987 High Plains Drifter
High Plains Drifter's picture

what kind of scope?   or open sights?   :)

 

just remember, anyone riding in a government vehicle or anyone with a uniform on. turkey season starts early this year. good luck and good shooting..........

Sun, 07/31/2011 - 21:25 | 1511161 stormsailor
stormsailor's picture

leopold vari x iii 50mm 25x mil-dot.  300 win mag  btsp 220 grain, teflon coated. imr 4895

Sun, 07/31/2011 - 21:54 | 1511250 Lower Class Elite
Lower Class Elite's picture

I can make about 500 with iron sights on the old Rifle No. 4 Mk 2.  But only if I've been drinking a bit.

Sun, 07/31/2011 - 19:36 | 1510818 Fix It Again Timmy
Fix It Again Timmy's picture

A strictly defensive military would be much cheaper - the offensive brand, along with 800 foreign bases [why exactly why?] hasn't exactly been all that it is cracked up to be, turning out to be largely ineffective at an astronomical cost, from Vietnam to the present day.  Of course the Military/Industrial/Congressional/Judicial/Media complex would argue otherwise and guess who pays the way for our "reprehensitives"...

Sun, 07/31/2011 - 19:41 | 1510828 Debt Rolling
Debt Rolling's picture

Most countries are indeed satisfied with a defensive strategy based on nuclear dissuasion. 

So it's obvious the goal of the US army is not to defend the territory of the US. It's to do more than that... nothing wrong in this as long as it is honestly admitted. 

Sun, 07/31/2011 - 19:38 | 1510822 zorba THE GREEK
zorba THE GREEK's picture

Maybe BOEHNER is balking because he got Tea-bagged.

I don't think Tea Party likes the deal, or any deal that raises debt ceiling.

Republicans don't need Tea party to make deal.

Hopefully, Tea party won't need Republicans after next election.

Sun, 07/31/2011 - 19:43 | 1510831 Beau Tox
Beau Tox's picture

Boehner limp as Reid in wind.  Pelosi not coming along.  Obama itching for rear-ended, back-loaded deal.

Sun, 07/31/2011 - 19:52 | 1510843 razorthin
razorthin's picture

I remember such a ridiculous fateful equity spike in the summer of 2008... https://sites.google.com/site/dailyspyder/

Sun, 07/31/2011 - 19:52 | 1510845 RobotTrader
RobotTrader's picture

 

 

Non-stop crises and constant bad news flow for 2 years straight and the SPY is down less than a few percent off the highs, still up 90%+ off the lows.

World record money printing never before seen in modern history and interest rates have outright collapsed.

Hands down the worst unemployment cycle ever with millions upon millions on food stamps and retail stocks and REITS the strongest sectors bar none, leaving the XAU in the dust.

Stocks like AAPL from single digits to $400 in just a few years, wealth building beyond belief.

I'm speechless.

Sun, 07/31/2011 - 19:55 | 1510850 magpie
magpie's picture

Waiting for inflation adjusted AAPL quotes.

Might come in handy for you.

Sun, 07/31/2011 - 20:03 | 1510870 Missiondweller
Missiondweller's picture

Well said. Its simply stunning.

Certainly not a rational, functioning free market.

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