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Futures Plunge Following Announcement That Boehner Delaying Vote
Update: according to Eric Cantor's spokeswoman Laena Fallon the vote will be only delayed until later on tonight.
Boehner just informed the media that the congressional deficit plan vote will be delayed, presumably because Boehner has not amassed the requisite number of votes. The market reaction is fast and furious: ES dumping 6 points immediately after the notice which means that the delay could now cut into August 2, and there may not be a resolution until Tuesday absent a "grand compromise" plan, which we do not see happening without either party getting crucified by their voters.
From The Hill:
House Republican leaders are desperately looking for the votes to pass Speaker John Boehner's (R-Ohio) debt-limit bill and have delayed a vote that had been expected for around 6 p.m.
Laena Fallon, a spokeswoman for Cantor, said the vote would occur "a little bit later" than the original 6 p.m. slot.
"The measure will still be voted on tonight," she added.
Boehner and his lieutenants have publicly expressed confidence they will carry the day, but their actions clearly show that they are still rounding up support. Boehner on Thursday afternoon was seen lobbying members, seeking yes votes in what is the biggest vote of his Speakership.
There are 25 House Republicans who will vote no or are leaning no, according to The Hill’s whip count. There are more than three dozen Republicans who are publicly undecided, and 10 of them said or suggested on Thursday that they are still on the fence.
Thursday afternoon presented major setbacks to Boehner, who can only afford 23 defections if — as expected — every Democrat votes no. Reps. Tim Scott (R-S.C.) said on Fox News he is a no. Rep. Francisco "Quico" Canseco (R-Texas) went from undecided to no. Rep. Scott Garrett (R-N.J.) said he is now leaning no.
The task is fast becoming mission impossible, where several members will need to change from no to yes. And all the undecideds have to break with Boehner.
Senate Majority Leader Harry Reid (D-Nev.) has said he will immediately move to table Boehner's bill if it passes the lower chamber. Every member of the Senate Democratic Caucus opposes it.
Boehner and his top lieutenants were scrambling for votes Thursday in anticipation of this evening’s vote, expected at around 6 p.m.
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bitch-es
PLUNGEZ!
<-- http://www.youtube.com/watch?v=-io-kZKl_BI
<-- http://www.youtube.com/watch?v=-s78MwfReEk
I didn't see this coming: Boehner is the one who must fall on his sword.
The only solution is compromise with the dems.
Poor Boehner. Now I know why he cries.
His career is finished.
As a politician.
Fire Water Burn.
<--Robot is 'da Man!!!
<--Junk Robot Here!!!!
Here's the shocker: A no vote willl probably have no impact whatsoever on SBUX, WMFI, EXPE, GMCR, et al
The bigger the crisis...the cult retail stocks simply go up even faster!
then go long those stocks and dump your panty waist portfolio of widows and orphans stocks of vz, hd and mo. unless you're too afraid to step up to your boasts and bromides.
S&P will fall to 1250 anyway. Need a reason to launch Q3.
1178 imo
1178 imo
If equity markets weren't propped up by The Bernank, they'd be 25% to 40% lower.
My favorite flavor is Sharkleberry Fin.
What's yours Robo?
We all follow Robot, because he is so cute?
Long live gridlock!
I think right now I want a no vote....lets send them nothing....
Got bless the wild west futures in this crooked casino where anything can happen, and routinely does.
You know what... it's as if it's all fake... hmmmmm.
Rudderless
Oh there is a rudder, it's just stuck 30 degrees to port.
I think right now I want a no vote....lets send them nothing....
Good. Let's default, just for something totally different.
Slightly OT, but I had to put it somewhere: Ted Butler's comments on the manipulation:
"Let’s face it – the entities I’ve accused of manipulating the price of silver, like JPMorgan and the CME Group, are among the most powerful financial entities of them all; they are the true masters of the financial universe.. They are at the tippy-top of the financial food chain. They have virtually unlimited access to financial resources. They are, by virtue of aggressive lobbying and political contributions, the dominating force in shaping legislation and regulation. They are staffed by the sharpest human talent and technological advantage that money can buy. In addition, they have the morals and ethics of a cockroach and a bag of dirty market tricks at their disposal, like HFT and after hours market control.
http://www.butlerresearch.com/
Laena Fallon... Lie and Fall on (her sword)?
My vote is for hanging instead of crucifying them.
<------ U.S. Dollars will be worthless paper by mid 2012
<------ U.S. Dollars will buy everything I need for a long, long time
This is how wall street negotiates with congress. Plunging the future and get the bill passed. It works every time.
This is how wall street negotiates with congress. Plunging the future and get the bill passed. It works every time.
This is how wall street negotiates with congress. Plunging the future and get the bill passed. It works every time.
"There are other forces at work in this world, besides those of evil. " -Gandalf the gray.
http://www.youtube.com/watch?v=vrlTeoFcf-Q
If the markets are ment to crash, then you are ment to profit and that is an encouraging thought because you are a vary fine person.
6pts is a plunge?
What is the word for +25 when they announce a deal?
They have to delay the deal so each crook can add 1 line to the bill. Like an arrowhead factory. Wait... They did that last time. *rolls eyes
It's all a sham. No doubt.
Pretty sad that *this* is the greatest country in the world. That doesn't say much for the rest.
This plan is a joke and so is any congress member that votes for it. I hope it sinks faster than the Lusitania.
We are a ship without a captin
Sails without wind
Floating rudderless in the middle of the ocean
odd thing that the ES moved at all; everyone knows it is formality with zero chance of passing so how could a delay make it any worse?
when it really comes down to the wire, there will be a bill which says "we the people extend the debt limit by $500bn", which goes through both houses in 30 mins.
odd thing that the ES moved at all; everyone knows it is formality with zero chance of passing so how could a delay make it any worse?
when it really comes down to the wire, there will be a bill which says "we the people extend the debt limit by $500bn", which goes through both houses in 30 mins.
We are a ship without a captin
Sails without wind
Floating rudderless in the middle of the ocean
I hope they vote no and just lock this thing up hard. Lets get a little taste of whats to come.
Im with you and not scared one little bit,I invite it
Please quit being so dramatic, Tyler. The S&P PLUNGED 6 points!!! So what? Big deal. You call 6 points a PLUNGE? What rock have you been living under? Trust me, an agreement will be reached in the final hour and the Dow will rise 200 to 300 points. Again Tyler. Stop the drama. Makes you look goofy.
Dont vote. leave Harry sitting at his desk with the only option being "cut, cap and balance". The bill he hid in his desk. I bet by tuesday he takes it out and starts reading it. Wednesday he takes it to the senate and we go from there.
Anyone remember this post?
http://www.zerohedge.com/news/guest-post-ominous-similarities
Take a look at the S&P 500 for today. Sure seems to be rhyming.
I don't get it. The market hinges on a bill that has no chance of passing in the Senate and if it does will get vetoed by Obama ?
If it goes to the Senate (and it won't cause it ain't goin to pass) then it gets worked over and crossbred with Reid's whatever and goes back to the house amidst a tanking market and Presidential address a la Tarp and presto everything is sloved. But Boehner can't control the newbies so instead Reid goes ahead and passes something in the Senate etc etc and it gets passed sometime next week.
It is not that Sponge. They can get a bill through but they cannot do it without false theatrics with the left voting down the right followed by the "Grand Compromise" to give the illusion they are bi partisan and care about Americans because the Tea Party refuses to vote for these BS non-cuts and it is proving to be a SERIOUS problem for both parties and is endangering the Republicans coming up for election in 2012 because it allows Tea Parties to point and say, "See..they are all just one party"
Now if all the R vote for the Beohner plan then it is minimal damage come election time since there can be no disparity. Now the Tea Partiers are proving to be a partiless (Not all Tea Parties..there are many Tea-O-Cons) Constitutionalist party which = America.
Essentially they have to unmask themselves as one party and once they do more seats will be lost in 2012. In all honesty..this is all because of Ron Paul and the movement he started..his movement is unquestionably now a political force requiring reason and responsibility.
well, i'd say you get it. but my spongiform is certainly as goofy as yours at this point, s_bob.
and harry r, the big D leader of the senate has now moved from voting down the bonerbill to tabling it.
bonerbill boner has just realized he is getting played. even tho the reporting is that (Paste) Thursday afternoon presented major setbacks to Boehner, who can only afford 23 defections if — as expected — every Democrat votes no. and we also get from reid that Every member of the Senate Democratic Caucus opposes it.
ass-u-me this or that. what if we don't. What IF we consider some demz vote yea in the House? the dems passed it! then, the senate votes yea w/out debate. prezo signs it, while quipping he'll read it, later, and praising all the house Rs for becoming democrats for the good of the nation, today, i.e.: passing a law for the sake of politics as usual, really.
good job, boner!
now, he doesn't mind dealing off the bottom for TPTB, but his innate slewie-stature just balks at taking shit for it!
as we knew beforehand, the man is a damned fool. whether he likes it or not he is in a chamber which operates by the two-party system. he is the leader of the majority party in the House, and he did not cobble a bill that his party, admittedly divided, would vote for. the TparT was only just elected, in 2010, so they don't count.
and, the democrats will pass this so fuking fast, it will make your head spin.
i replied to my post earlier, but there was a glitch somewhere. i wanted to say that i'm pretty "irrational" there, in that since we don't know why the "leaders" do what they do, we must "guess" or "interpret".
what i was trying to get to is that boehner didn't try to unify his party. or is it just impossible? could the Rs have crafted a bill that the House Rs could support? yes, i think so, but i also think it would have been somewhat close to what would transpire if the ceiling is not raised.
in other words: give us what we want, politically, or give us what we want, politically. what does he care if the bill fails? as the process proceeds, the valences change. what if the democrats pass this against the wishes of my own party, even after i tried to please the banksters?
whoa!
again, i really don't know. maybe it is just the last hold-outs getting their skids greased for the House vote, so the Ds can vote against it and the Senate can...,...uh,... what?
i still can't understand why any R in his right mind would want to raise the debt ceiling for this president, over the wishes of his own D party, under any scheme, but when you figure the corruption, who knows anything, these days?
stay tooned for the next incomprehensible episode of: The Big Whatever
WTF? "The Market"!? Hah, I say! It is rigged, therefore it is no market at all... Whatever it "is" it hinges on fiat injections, corruption, deception, propaganda, perception, heavy doses of fairy dust and the like.
WTF? "The Market"!? Hah, I say! It is rigged, therefore it is no market at all... Whatever it "is" it hinges on fiat injections, corruption, deception, propaganda, perception, heavy doses of fairy dust and the like.
as long as i can have an ipad3 for dinner
Politics have no bearing on the markets! LOL. I recall having heated debates back in 2007 with blokes claiming the market was a separate entity. We are watching a B rated movie re-run.
But, gold is not moving lower. It may go down some on the raising of the debt ceiling, but not for long.
Why not kick the can down the road until after the 2012 election? At least the debate will mean something and show the world that you have a democracy..
Crap... tomorrow I don't have access to my computer.
I really wonder how it will play out tomorrow.
OBAMA'S LAST STAND!
THE BATTLE OF I.O.U.!
I vote ES 1260...Trip top bitchez
If u trade w/o margin (can't short) QID, SDS, DXD, TWM imho but be ready to flip it ( ignore the SnapBack) good times...
Cantor established the importance of one-to-one correspondence between sets, defined infinite and well-ordered sets, and proved that the real numbers are "more numerous" than the natural numbers. In fact, Cantor's theorem implies the existence of an "infinity of infinities".
Print.... to infinity, and beyond!
http://www.youtube.com/watch?v=ECvNIByEfYw
There is no right or left or democracy and a independent party was added to give the people a sense they really have a vote and representative.
Your vote is not Jack Shit and never will be. Until you infiltrate the grand puppetmaster stage........You lose.
Become your own military and central bank,food supplier.Then until a bigger guy on the block comes along you win.
All the political shit is just smoke and mirror sideshow to keep people divided instead of becoming one force.
That part can change and should.Start with ending your devotion to the mind control machine.............Kill your TV
You don't need to re-invent the wheel. Look into Ron Paul. IMHO a vote for anyone else would mean "Jack Shit". Hmmm....VOTE FOR RON PAUL - HE GIVES A SHIT!
to beat a dead horse...we have a massive trip top in the ES and other major indices...please profit by it...
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