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Goodbye Super-Committee, Hello Stupor-Committee: It's Official - "No Agreement"

Tyler Durden's picture




 

As if anyone is actually surprised by the headlines appearing from Bloomberg with regard the Super-Committee - which in retrospect is perhaps a little aggressively-named:

*SUPERCOMMITTEE SAID TO ANNOUNCE NO AGREEMENT REACHED

*U.S. DEBT SUPERCOMMITTEE ANNOUNCEMENT SAID LIKELY ON MONDAY

While not immediate, it would seem obvious that a ratings downgrade can't be far behind this event given the reasoning for the last downgrade and the clear indication by this lack of agreement that nothing-has-changed.

S&P recently said that a 'watered down' package from the Super Committee would put downward pressure on the rating. Moody’s said the outcome of the Super Committee would be informative but not decisive for its rating analysis.

We would also assume that Defense and Healthcare stock analysts will be bombarding inboxes in 3..2..1..with buy recommendations...

 

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Sun, 11/20/2011 - 18:31 | 1896599 High Plains Drifter
High Plains Drifter's picture

ok since congress refuses to do its duty, it looks like president obama will have to take over (ah temporarily of course)  as king obama to deal with these issues and it will all be for the amerikan people too doncha know.........

Sun, 11/20/2011 - 18:40 | 1896629 Yamaha
Yamaha's picture

At least Michelle Obama got boos at the NASCAR race today. Looks like they are just a bunch of animals......she is just doing her part.

Sun, 11/20/2011 - 18:45 | 1896647 WestVillageIdiot
WestVillageIdiot's picture

Shoot.  I missed that.  I'm sure it was only because NASCAR fans are racist, not that her husband has proven to be a sellout piece of crap.  But she is getting back at the fans.  She brought rain with her.  She kind of reminds me of that Mother Nature from the Parkay commercials back in the 1970s.  She is definitely ugly enough.

The Obamas don't care about NASCAR.  The NBA is their thing.  Even during the lockout the NBA players are planning a game to raise funds for Obama and the Democrats.  The game is already being announced with tickets as high as $5,000.  I love the racism discussion when clearly the NBA is only having this fundraiser for Obama because he is black.  Supporting somebody solely because of their race is racism.  But don't tell that to Al Sharpton, Jessie Jackson, Obama or many of the other biggest beneficiaries of racism.  They are too busy pointing out everybody else's flaws. 

Sun, 11/20/2011 - 18:51 | 1896672 nmewn
nmewn's picture

Some enterprising marketing dude should put her in a cowboy hat wearing cut off jeans waving around old Dixie.

Think of the possibilities ;-)

Sun, 11/20/2011 - 19:00 | 1896701 Long-John-Silver
Long-John-Silver's picture

Why would you want to subject US to her fat ass in cut off jeans? Do you HATE real Americans?

Sun, 11/20/2011 - 19:09 | 1896735 nmewn
nmewn's picture

It would be like the people of Walmart...the erotica version.

Give the people what they want!!!...a good marketing campaign...lol.

Mon, 11/21/2011 - 00:52 | 1897626 Cliff Claven Cheers
Cliff Claven Cheers's picture

Once you go black, you never go back.

Michelle is a hell of a lot hotter than any of the other cracker first wives of recent history.  I dare anyone to name just one.

Cheers

Sun, 11/20/2011 - 19:13 | 1896742 eaglefalcon
eaglefalcon's picture

As evil as she could be, i still trhink michelle obama is good looking

Sun, 11/20/2011 - 19:15 | 1896756 WestVillageIdiot
WestVillageIdiot's picture

Call a fucking optometrist, right now.  Seriously!

Sun, 11/20/2011 - 21:02 | 1897112 El Viejo
El Viejo's picture

I like Angela Merkel, but don't tell anyone.

Sun, 11/20/2011 - 22:34 | 1897337 eaglefalcon
eaglefalcon's picture

angela is as ugly as homemade lasse soup.  Worse even she was probably a Stasi agent.  Her dad definite was, how could you run a lutheran church in east Germany without working for Stasi

Mon, 11/21/2011 - 01:11 | 1897655 Joe Sixpack
Joe Sixpack's picture

Actually, from what I have heard the churches in E. Germany were not bothered that much unlike other parts of Eastern Europe.

Sun, 11/20/2011 - 19:13 | 1896745 Cheesy Bastard
Cheesy Bastard's picture

She used to be pretty when she was younger.  Here is the best picture I've ever seen of Michelle Obama.  Look at those guns.  Gorgeous.

http://static.moviefanatic.com/images/gallery/rise-of-the-planet-of-the-apes-caesar.jpg

Sun, 11/20/2011 - 20:10 | 1896972 Bobbyrib
Bobbyrib's picture

Green arrows=racist. Straight up.

Sun, 11/20/2011 - 20:26 | 1897010 Cheesy Bastard
Cheesy Bastard's picture

Really more of an insult to monkeys.  Straight up.

Sun, 11/20/2011 - 20:01 | 1896935 Troll Magnet
Troll Magnet's picture

long john,
there's nothing more "american" than a fat ass. they are EVERYWHERE.

Sun, 11/20/2011 - 20:08 | 1896966 Bobbyrib
Bobbyrib's picture

Nascar fans may not be racist, but they definitely favor their party's crook than to the opposing party. Bush was a sellout too, but I have never heard of Nascar fans booing Laura or George.

The NBA players are holding fundraisers for Obama, because he is a huge basketball fan. /sarcasm.

Sun, 11/20/2011 - 18:51 | 1896671 High Plains Drifter
High Plains Drifter's picture

that is called big bootay.......

Sun, 11/20/2011 - 18:56 | 1896685 JPM Hater001
JPM Hater001's picture

This is really bad but has to be said...

She was boo'd cause she stole a car...

Sun, 11/20/2011 - 22:55 | 1897177 Zero Govt
Zero Govt's picture

Nascar fans boo'd Michelle Obama because her hubby is a Marxist tosser 'leading' his country into the sewer (an historical speciality of socialists)

Thank fuk she didn't give a speech at Nascar as she's such a fragile basket-case she usually can't stop the water-works without any provacation and has a near emotional breakdown! 

Thank heavens too her husband is toast at next election it'll give him time to sort out his dripping wet wife and his own pathalogical lying when in front of a large audience

Mon, 11/21/2011 - 08:10 | 1897907 Bobbyrib
Bobbyrib's picture

"Thank heavens too her husband is toast at next election it'll give him time to sort out his dripping wet wife and his own pathalogical lying when in front of a large audience"

 

Thanks heavens indeed, then we can start all over again with a new bullshit artist (assuming Ron Paul is not elected) to lie to us for the next four years. /sarcasm.

Sun, 11/20/2011 - 22:32 | 1897333 Yamaha
Yamaha's picture

That's a joke boys and girls. Just fun watching her try to fit in...looked like an oil spill.

Mon, 11/21/2011 - 03:33 | 1897778 dolph9
dolph9's picture

I don't like Nascar, but I dislike the first sheboon even more.

Sun, 11/20/2011 - 18:30 | 1896600 Mike2756
Mike2756's picture

They need a bond beatdown like the EU is getting, maybe it will sink in then.

Sun, 11/20/2011 - 18:45 | 1896649 CPL
CPL's picture

Wait for it.

Sun, 11/20/2011 - 20:05 | 1896952 DeadFred
DeadFred's picture

Current options prices would make it very profitable.

Sun, 11/20/2011 - 20:55 | 1897093 SWRichmond
SWRichmond's picture

If we get the ratings downgrade, cui bono, eh?

Could it be the political class is running cover for the central bank?  Are we going to get currency weakness without Ben having to print?  Inflation without central bank intervention?

Sun, 11/20/2011 - 18:54 | 1896682 DormRoom
DormRoom's picture

"A house divided cannot stand" --A. Lincoln  Republican.

 

 

Sun, 11/20/2011 - 18:55 | 1896684 Boilermaker
Boilermaker's picture

Not pick the fly shit out of the pepper, but you are aware that in that era Republican were actually Democrats....right?

Sun, 11/20/2011 - 19:01 | 1896702 DormRoom
DormRoom's picture

@Boilermaker.  you just proved the f--cking point.. America is failing, and we shoudn't be worrying about the culture wars, when the entire economic edifice is about to collapse. 

 

Get 'er done. god dammit.

 

Politicians should be getting sh-t done.  You have big banks leading us towards an abyss.  And now politicians are shoving us into that great darkness.

Sun, 11/20/2011 - 19:04 | 1896717 WestVillageIdiot
WestVillageIdiot's picture

I'm worried about the culture wars.  I look at the people around me and it scares the heck out of me.  The coming difficulties and tensions will definitely reveal their character.  That is the part that makes me think I really need to get out of this area. 

Sun, 11/20/2011 - 19:12 | 1896743 Boilermaker
Boilermaker's picture

You don't get out of the USA much then.  It's just as bad in Europe, Japan, South America, and China.  There are some serious idiots there also.  The problem isn't with the igorance of the working class; it's the empowerment of the elite class.

Sun, 11/20/2011 - 21:14 | 1897153 Mike2756
Mike2756's picture

super committee in action.

http://youtu.be/KDPTC-yAmgo

Sun, 11/20/2011 - 22:59 | 1897262 Zero Govt
Zero Govt's picture

WestVillage  -  Culture Wars indeed. The politicians and bent media are already pumping the story of the richest 10% being taxed more.

The 'culture' is to point the finger at productive (rich) people and take "more, more, more" for a problem of politicians out-of-control spending

The usual scumbags passing the buck for their prolific spending orgies for others to bail the socio-economically dysfunctional retards out

...it's beyond stupid problem-solving 

And I'm not aware of groups, even welfare spongers, demanding the private sector pays more tax ...this is purely a politico-media (double-dumb) cultural movement

Mon, 11/21/2011 - 01:14 | 1897662 Joe Sixpack
Joe Sixpack's picture

A lot of the 1% are not productive, they are parasitical. The 10% probably does include a lot of productive people.

Sun, 11/20/2011 - 19:11 | 1896731 whstlblwr
whstlblwr's picture

Isn't this good for rating, no agreement means automatic cuts kick in.

Sun, 11/20/2011 - 19:19 | 1896769 Everybodys All ...
Everybodys All American's picture

automatic cuts don't even come in until Jan 2013.

Sun, 11/20/2011 - 19:35 | 1896806 dwdollar
dwdollar's picture

Automatic cuts... Haha...

That's like a fat-ass saying he'll start a weightless diet next month. If he was actually going to do it, he'd do it NOW. Next month it will be some new excuse for why he can't (if he even remembers)...

Sun, 11/20/2011 - 19:18 | 1896750 SeanJKerrigan
SeanJKerrigan's picture

With regard to "getting things done,"  any "success" here would involve austerity and cutting from all the wrong items.  No cuts in foreign aid, no cuts in military spending, no tax increases on Wall Street or conglomerates like GE, etc.

THEREFORE, the failure of the Dems and Reps to come to a concensus is a good thing.  If I were given the choice of cutting small amounts in things people need and cutting nothing, but accelerating the downfall of the economy, I would choose the second option without hesitation!  Why would you gut the social services the nation needs to kick the can down the road for elites and bankers?  Its insane.

The failure of the establishment to come to a conclusion is our victory.  We should feel good about this.  May there be many more such failures.

Edit: in addition, the automatic cuts will probably be reversed since they include Pentagon cuts.  The establishment is predictable in this way.

Sun, 11/20/2011 - 19:23 | 1896787 navy62802
navy62802's picture

It needs to collapse and be rebuilt from scratch because it is so corrupt.

Sun, 11/20/2011 - 20:08 | 1896961 existentialangster
existentialangster's picture

.Gov to weasel out of automatic cuts in 3...2...1...

Sun, 11/20/2011 - 18:31 | 1896603 Mr. Poon
Mr. Poon's picture

Thank goodness.  Now Congress may actually have to take responsibility for its Constitutionally mandated duty of controlling taxes and spending.

Sun, 11/20/2011 - 18:44 | 1896646 nmewn
nmewn's picture

Make them actually earn their paychecks & benefits?

Let me think about it...it seems a revolutionary idea at first blush.

Sun, 11/20/2011 - 20:24 | 1897001 Mike2756
Sun, 11/20/2011 - 21:28 | 1897183 WonderDawg
WonderDawg's picture

It'll never happen.

Sun, 11/20/2011 - 19:55 | 1896901 El Gordo
El Gordo's picture

There's the answer I've been looking for.  Now Congress can get to work, do nothing, and go home.  A do nothing Congress is a good Congress. 

Sun, 11/20/2011 - 18:32 | 1896605 earleflorida
earleflorida's picture

question - why don't we just go with a belgium type government

Sun, 11/20/2011 - 18:40 | 1896620 Reese Bobby
Reese Bobby's picture

TPTB prefer our one party system.  Plus the only thing the Belgians ever got right were waffles...

Sun, 11/20/2011 - 18:41 | 1896630 mikejody
mikejody's picture

That is just not true; Belgiums also got Chocolate right :).

Sun, 11/20/2011 - 18:41 | 1896631 achmachat
achmachat's picture

chocolate, beer, cheese and FRIES!

Sun, 11/20/2011 - 19:23 | 1896788 bank guy in Brussels
bank guy in Brussels's picture

Actually it is just about a totally lovely life here in Belgium, like in our funny popular song by a guy from Liverpool who lived here many years:

Potverdekke

It's great to be a Belgian
I'm not English I'm not French and I'm not Dutch
I'm not Spanish, Portuguese or German
I'm a Belgian, so thank you very much

As I walk along the street
With my mayonnaise and frites
You can tell I'm as happy as can be

With my Duvel in my hand
Then you must understand
I'm a Belgian, so nothing worries me! ...

- the late 'Mister John' Makin, full hit song here live in a Brussels pub ('potverdekke' is a Dutch - Flemish word, gentle exclamation something like English 'darn it'; 'frites' the chips or potato 'French' fries, actually Belgian; 'Duvel' is one of our Belgian beers, many others mentioned later in the song):

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

Mon, 11/21/2011 - 07:13 | 1897881 Ghordius
Ghordius's picture

sing this to Nigel Farage

he'd like to break you up...

Sun, 11/20/2011 - 20:56 | 1897097 Desert Irish
Desert Irish's picture

Belgium is the beer brewing capital of the universe, they've had monks continously brew Chimey and other notable beers for over 600 years now.

Seriously if it aint broken why fix it!!! Who needs a government when you can just brew good beer....I'm not seeing an arab spring in Brussels...just saying.....

Sun, 11/20/2011 - 18:42 | 1896636 nmewn
nmewn's picture

Take away a societies right to vote?

(Greece) ;-)

Sun, 11/20/2011 - 18:33 | 1896606 Top_Kill
Top_Kill's picture

It's nothing a Super Duper Committee can't fix!

Sun, 11/20/2011 - 18:32 | 1896607 Shadowsil
Shadowsil's picture

I vote No confidence in the United states Goverment.. All of them!

 

 

Sun, 11/20/2011 - 18:33 | 1896608 kito
kito's picture

look on the bright side, at least those automatic, harsh, just whats needed to fix the economy and pump the markets higher future cuts of 1.2 trillion over some 10 years in the next century will now kick in!!!!!!!!!!!!!!!!!!

 

Sun, 11/20/2011 - 18:35 | 1896613 Boilermaker
Boilermaker's picture

T-minus 26 minutes until futures open positive, anyway.

This will be viewed some-fucking-way as good for equity.

Sun, 11/20/2011 - 18:38 | 1896624 Cdad
Cdad's picture

It would be great if you are correct, as I would like nothing more than to sell yet another bad lead out of the corrupt and broken "futures" market.

Sun, 11/20/2011 - 18:42 | 1896634 Boilermaker
Boilermaker's picture

I expect a rapid and unexplainable run up of futures right around 3 am.  But, that's just me.

Sun, 11/20/2011 - 18:47 | 1896655 Cdad
Cdad's picture

Would be nice if they held it for the open...however, I expect you will be getting quite a different reaction.

Very quietly, the Street gave up the "chase for performance into year end" thesis last week.  I suspect the Street went short, and it intends to collect in light volume trading during a holiday shortened week.

But who knows...got to wait for the Pachinko balls to start flying on the open to get the daily direction anyway.  I seriously doubt anyone would chase an up open at this point in time.

Sun, 11/20/2011 - 19:01 | 1896703 Boilermaker
Boilermaker's picture

-108 and the open and immediately moving up...

That shit will be erased in 30 minutes, tops.

That fucker is jumping around 20 - 30 DOW points every 20 seconds.  They're jacking the shit out of it and intervening right now.

Sun, 11/20/2011 - 19:16 | 1896760 Cdad
Cdad's picture

Wait a minute...you were just calling for a huge up open on the failure of Congress to agree on anything...and instead you got the exact opposite move...and you are now saying that loss will be erased in 30 minutes?  Ummm...call me confused.

And why are you watching the DOW futures, anyway?  Watch the S&P break the 1200 mark tonight...and cue the panic monkeys.  After the Pachinko machine open confirms the fraudulent futures market, then enjoy your short positions while preparing to sell the long end of the T bill curve about half way through the session.

Tomorrow should be a good day for all non hopium smokers.

Sun, 11/20/2011 - 19:19 | 1896770 jcaz
jcaz's picture

It's called "sarcasm", dude- he was pretty transparent.....

Sun, 11/20/2011 - 19:25 | 1896792 Cdad
Cdad's picture

Ummm...which part was he sarcastic about?  The up open, the intervention after the plunge, or the implied ramp to positive that he expects at 3 am?  Seriously...set down the crystal ball and back away slowly.  In through the nose, out through the mouth.

 

Sun, 11/20/2011 - 19:02 | 1896709 jcaz
jcaz's picture

Or perhaps the Street will realize that the EASIEST way to "chase performance" is to short a dropping market.....  

The entire premise of out-chasing upside performance was flawed from the beginning; 

Which is more realistic- risking capital to make 12% in an 10% up market, or sitting in cash in hope of a down 5% market?

But the Chase thesis made the CNBC zombies feel warm and fuzzy- that's all that matters.......

Sun, 11/20/2011 - 18:48 | 1896661 WestVillageIdiot
WestVillageIdiot's picture

That runup usually happens right around 8:30, just in time for Becky Quick to ooze down her leg and Joe Kernan to unleash a load down Carl Quintanilla's back. 

Sun, 11/20/2011 - 18:49 | 1896662 jcaz
jcaz's picture

Yep- this will be perverted into some "now this clears the air for Constitutionality. which should embolden equities" bullshit.....

Sun, 11/20/2011 - 18:47 | 1896656 OneLessZombie
OneLessZombie's picture

of course!  US dollar drops, market rallies like crazy...it's ALL GOOD DOG!

Sun, 11/20/2011 - 18:36 | 1896616 holdbuysell
holdbuysell's picture

Sadly, I wouldn't have expected anything else.

Bring Farage over here for his "you all should be fired" speech.

It's relevant.

Sun, 11/20/2011 - 18:47 | 1896654 junkyardjack
Sun, 11/20/2011 - 19:04 | 1896718 11b40
11b40's picture

Of course you wouldn't expect anything else.  It was pre-ordained.  The Dems are looking for a wedge to drive through the Tea Partiers with tax increases being the favorite method, so they demanded tax concessions.  Every one of the Republicans appointed to the committee have pledged their allegiance to Grover Norquist, and will be run out of office it they even hint at a compromise.

Bottom line, all came out of the gate posturing, posing, & preening for the next election.  Who are the bigger Bozo's?  Them, for their antics, or us for electing them?  Regardless..we lose, as usual.  Truly, this should become a total 'throw the bums out' election.  Vote against EVERY incumbant.  535 random names chosen from the phone book could not possibly be worse, and a good argument could be made they would be better if not obligated to special interests and busy begging for campaign cash.

And speaking of campaign cash.

Rep. Deutch Unveils OCCUPIED Constitutional Amendment
Bans Corporate Money in Elections and Declares Corporations Are Not People

http://deutch.house.gov/News/DocumentSingle.aspx?DocumentID=269672

Let's see how many sponsors he gets with this one.  If passed, it would totally revolutionize politics in America.

Sun, 11/20/2011 - 19:16 | 1896761 Lexington Duffet
Lexington Duffet's picture

Letting the "temporary" tax cuts expire for the rich is a concession?   In what universe.  Holding the "temporary" tax breaks open past their expiration date was a Republican Demand.   If the republicans had not demanded the extension, then the tax breaks would have expired.   True the democrats caved in on the demand, but that was a democratic concession.  

 

Putting aside the RW reality problems, deficits were running a trillion a year when Obama took office. Cutting $1.5 trillion in ten years is kind of a joke, if you ask me, cutting deficit projection from around 10 trillion plus to 8.5 trillion plus. 

 

Watch-there is no way people are going to let defense spending take the hit.  By putting off any cuts into 2013, this gives Congress will agree to increase defense spending and they'll be what, 600 billion in cuts on 10 trillion in projected further deficit spending. 

 

 

Sun, 11/20/2011 - 18:37 | 1896621 RobotTrader
RobotTrader's picture

Biggest, fastest, steepest parabolic run in TLT since 2008 to continue on Monday?

Check this chart out.

Simply eye-popping.

http://chart.finance.yahoo.com/z?s=TLT&t=my&q=l&l=on&z=l&a=v&p=s&lang=en...

 

Sun, 11/20/2011 - 18:42 | 1896638 Cdad
Cdad's picture

I suspect that parabolic move will be finished by noon est tomorrow.

Sun, 11/20/2011 - 18:50 | 1896669 kito
kito's picture

in robos eyes, we are all poor investors because we havent figured out how to build the delorean time machine and invest in the companies that robo loves to point out, in all his glorious hindsight, just shot up 300 percent........

Sun, 11/20/2011 - 19:01 | 1896704 WestVillageIdiot
WestVillageIdiot's picture

"Robo Horseshoe loves Pets.com."

Sun, 11/20/2011 - 20:28 | 1897014 DeadFred
DeadFred's picture

You missed the post where he showed the blueprints? That sucks.

Sun, 11/20/2011 - 18:51 | 1896670 jcaz
jcaz's picture

Dude, put the charts away- seriously, what good have they done you?   You'd lose a coin flip 4 out of 5 times with your charts......

Sun, 11/20/2011 - 18:38 | 1896622 Catullus
Catullus's picture

This'll be used as the excuse for markets tanking. Not Europe. Why? Because obviously the galaxy revolves around Washington DC. At least we can all agree the situation on both sides of the Atlantic is shit.

Sun, 11/20/2011 - 18:39 | 1896625 nmewn
nmewn's picture

Congress critters "kick the can" to a select group of Congress critters and the media rending of clothes and gnashing of teeth begins in earnest when it is discovered that a select group of can kickers is no better than the body they were selected from.

Hilarity ensues...lol.

Sun, 11/20/2011 - 18:50 | 1896668 WestVillageIdiot
WestVillageIdiot's picture

Can't we just name another tsar?  Why stop at 1,114? 

Sun, 11/20/2011 - 19:00 | 1896700 nmewn
nmewn's picture

Only if I get to be the head of the committie that picks the blue ribbon committie that eventually picks a new tsar...lol.

Sun, 11/20/2011 - 18:39 | 1896627 junkyardjack
junkyardjack's picture

Good thing they already announced that if they don't come to an agreement there will be no consequences.  

http://www.thedailyshow.com/watch/wed-november-16-2011/superbad?xrs=share_copy

Sun, 11/20/2011 - 18:51 | 1896674 WestVillageIdiot
WestVillageIdiot's picture

Failure = Government

Bigger Failure = Bigger Government

 

It seems pretty clear to me.  And Americans haven't complained about the creeping collossus for the past 66 years. 

Sun, 11/20/2011 - 18:41 | 1896633 bugs_
bugs_'s picture

we need more local regular committees

Sun, 11/20/2011 - 18:43 | 1896635 alien-IQ
alien-IQ's picture

clearly this is bullish for stocks because (insert ridiculous bullshit reason here)

Sun, 11/20/2011 - 18:43 | 1896640 The trend is yo...
The trend is your friend's picture

Good news. accelerates the end game

Sun, 11/20/2011 - 18:43 | 1896641 WiZlon
WiZlon's picture

Was it my imagination, or did I just hear Dick Bove say "buy defense stocks" on this news? :-)

Sun, 11/20/2011 - 18:44 | 1896643 SHEEPFUKKER
SHEEPFUKKER's picture

Shocking news.  Time to create another committee of gub'ment tools to sit around and argue with each other and do nothing. Where are the bond vigilantes? 

Sun, 11/20/2011 - 18:58 | 1896691 CynicLaureate
CynicLaureate's picture

We clearly need an ultra-committee to investigate why the super-committee failed, and perhaps an infra-watchdog-committee to keep the ultra-committee under scrutiny.

ZAPHOD: Right. Um look we’ve got to get manual control of this ship
TRILLIAN: Can you fly her?
ZAPHOD: No. Can you?
TRILLIAN: No.
ZAPHOD: Ford?
FORD: No.
ZAPHOD: Fine we’ll do it together. 

The Hitchhiker's Guide to the Galaxy, Douglas Adams.

 

Sun, 11/20/2011 - 19:40 | 1896839 dwdollar
dwdollar's picture

Committee hell... I think we should form a 10,000 person strong Department of Budget Affairs and staff it with young bureaucrats fresh out of prIvy League schools. They'll be able to solve something.

Sun, 11/20/2011 - 21:03 | 1897119 Desert Irish
Desert Irish's picture

Even better just do as the dolphins did and hightail it out of here...

"So long and thanks for all the fish..."

The Hitchhiker's Guide to the Galaxy, Douglas Adams.

Sun, 11/20/2011 - 18:45 | 1896644 Kokulakai
Kokulakai's picture

 

Time to rid ourselves of these incompetents.

Term limits for politicians. One in office, and one in jail.

Sun, 11/20/2011 - 18:44 | 1896645 sheeple2012
sheeple2012's picture

Good riddance to the Super Committee, now Boner can get back to working on his tan ... those nasty scary "Defense" cuts will be filibustered somehow I'm sure

Sun, 11/20/2011 - 18:45 | 1896650 TheAkashicRecord
TheAkashicRecord's picture

Police burn protest tents to clear Cairo's Tahrir

http://tiny.cc/ujrf2

 

 

I guess those tents were a health threat.

Sun, 11/20/2011 - 18:54 | 1896681 czarangelus
czarangelus's picture

it's funny that after spending hundreds of billions of dollars on the CIA and psyops, propaganda techniques, studying social networks, et c. the American regime still can't come up with any solutions more sophisticated than beat the shit out of a bunch of people re: the occupy movement.

Sun, 11/20/2011 - 19:20 | 1896771 Fish Gone Bad
Fish Gone Bad's picture

Fear really does work magic.

Sun, 11/20/2011 - 22:42 | 1897357 Bansters-in-my-...
Bansters-in-my- feces's picture

USSA has a new dance called the JackBoot Boogie.

Be sure to wear you head gear doing this American craze.

Sun, 11/20/2011 - 19:08 | 1896729 PaperBear
PaperBear's picture

Are we going to be told that the Egyptians need to obey their technocrat government ?

Sun, 11/20/2011 - 19:12 | 1896741 TheAkashicRecord
TheAkashicRecord's picture

It matters not whether the government is an authoritarian police state or democratically elected government, what matters is whether that government will subjugate itself to the broader goals of the global financier class. 

Sun, 11/20/2011 - 20:35 | 1897032 DeadFred
DeadFred's picture

Technocrat, I keep reading that term. Did I miss the memo about the new PC alternative for fascist?

Sun, 11/20/2011 - 21:09 | 1897138 TheAkashicRecord
TheAkashicRecord's picture

All technocrats are fascists, but some fascists are also elected officials!

Sun, 11/20/2011 - 18:46 | 1896653 e-man
e-man's picture

I for one, believe the only solution is a Super Duper Committee.

Sun, 11/20/2011 - 18:47 | 1896659 slaughterer
slaughterer's picture

So the automatic cuts come into effect.  They are better than anything the super-committe would come up with.  Bullish!

Sun, 11/20/2011 - 18:50 | 1896660 PaperBear
PaperBear's picture

These clusterf**ks would never consider Ron Paull's plan to cut 1 TRILLION annually because they get paid the by twat lobbyiststo make the government bigger.

Sun, 11/20/2011 - 18:53 | 1896677 kloot
kloot's picture

shhh, can you hear that? i think i hear the bear calvary coming

Sun, 11/20/2011 - 18:57 | 1896689 JPM Hater001
JPM Hater001's picture

Looks like those December S&P 970's are good as gold...

Sun, 11/20/2011 - 18:58 | 1896693 slewie the pi-rat
slewie the pi-rat's picture

wrf?

they voted themselves a pay raise and adjourned? 

 

Sun, 11/20/2011 - 18:59 | 1896699 slaughterer
slaughterer's picture

EUR/USD unchanged.  Sorry bears.  

Sun, 11/20/2011 - 19:05 | 1896721 alien-IQ
alien-IQ's picture

/ES 13 point gap down opening...yeah...sorry.

Sun, 11/20/2011 - 19:06 | 1896724 jcaz
jcaz's picture

LOL- better pay up for LIVE quotes......

Sun, 11/20/2011 - 19:19 | 1896773 slaughterer
slaughterer's picture

Only 8 handles down, and risin.  the magic 3am rally will close the gap.  

Sun, 11/20/2011 - 19:02 | 1896706 Seasmoke
Seasmoke's picture

1st rule of politics is to always keep the bar low.......should have called these morons the shithead committee

Sun, 11/20/2011 - 19:03 | 1896710 bob_dabolina
bob_dabolina's picture

Bloomberg giving a news conference at 7:30 PM EST

supposedly terror related

 

Sun, 11/20/2011 - 19:04 | 1896719 SHEEPFUKKER
SHEEPFUKKER's picture

it's called cleaning up the park. 

Sun, 11/20/2011 - 19:11 | 1896738 bob_dabolina
bob_dabolina's picture

I don't know what it is. A producer at msnbc (jesserodriquez) just tweeted so if it's not about terror blame that guy.

I don't find MSNBC to be entirely credible so it could be bullshit

Sun, 11/20/2011 - 19:16 | 1896762 Boilermaker
Boilermaker's picture

Nothing like emptying a full can of pepper spray at point-blank range on some peacefully protesting students.  Go long pepper spray and short the bill-of-rights.

Sun, 11/20/2011 - 19:03 | 1896711 SHEEPFUKKER
SHEEPFUKKER's picture

Triple A bitchez!!!

Sun, 11/20/2011 - 19:03 | 1896713 Everybodys All ...
Everybodys All American's picture

Now that is the blackened long necked bird you do not want to see if your a bull. I beleive you now have to expect further downgrades and this time the reaction will not in my view be positive for US Treasury's. But we shall see with respect to the reaction to a downgrade. The US Treasury is still better than the EU garbage.

Sun, 11/20/2011 - 19:05 | 1896723 SHEEPFUKKER
SHEEPFUKKER's picture

pass the trash. 

Sun, 11/20/2011 - 19:04 | 1896716 TheAkashicRecord
TheAkashicRecord's picture

It's super-commitees all the way down

Hopefully somebody gets the reference 

Sun, 11/20/2011 - 19:04 | 1896720 Caviar Emptor
Caviar Emptor's picture

What was I saying about controlled collapse aka planned decline? 

TPTB just need to sit back and watch the rubes fight over the remaining crumbs. 

Oh and thank you, rubes, for paying for our security through bailouts 

Sun, 11/20/2011 - 19:09 | 1896728 Eireann go Brach
Eireann go Brach's picture

What is pathetic is that Obama is probably going to be re elected and shows the massive void in leadership existing in this country right now, even with 9%+ unemployment for 2+ years, a 41% increase in debt from $10.6 to $15 Trillion and the first president to be in charge under a debt downgrade! Because all he needs to do is make a few youtube videos, write a few facebook posts, then speak from his teleprompter, and that is quite enough to convince all the gummy easily swayed sheeple back in his favor to vote for him again, as all the sheeple are interested in is how many NBA players have gang banged the Khardashians over the weekend!

Sun, 11/20/2011 - 19:34 | 1896813 Absalon
Absalon's picture

You may not like President Obama but he is head and shoulders better than the second President Bush was and head and shoulders better than most of the Republican hopefuls ever could be.

Sun, 11/20/2011 - 19:44 | 1896860 Everybodys All ...
Everybodys All American's picture

What world do you live in? Obama makes Jimmy Carters economy look like the roaring twenties.

Sun, 11/20/2011 - 19:55 | 1896872 Absalon
Absalon's picture

The current problems with the economy have almost nothing to do with President Obama.  Things would have been even worse if McCain had won the election.

 

Obama's primary failures:

1) trying to do deals with Republicans

2) not sending a few hundred (or thousand) bankers to prison

3) not prohibiting naked credit default swaps and naked interest rate swaps

4) not imposing sensible capital adequacy requirements on the banks

5) not bringing back Glass Steagall

6) not pouring a trillion dollars into mortgage refinancing, debt forgiveness and infrastructure spending in 2009

7)  agreeing to extend all of the Bush tax cuts for a few years.

 

Sun, 11/20/2011 - 20:01 | 1896933 El Gordo
El Gordo's picture

Well, I'm glad to know that Obama had nothing to do with shutting down all the drilling jobs in the Gulf, the pipeline jobs from Canada to Texas, natural gas production in Ohio, and the like.  I guess he just hasn't spent enough money to get the economy humming along yet.

Sun, 11/20/2011 - 20:03 | 1896943 Everybodys All ...
Everybodys All American's picture

You are an appologist for failure of leadership. I make no excuses for anyone whether they be republican or democrat. This president is an amateur and the ability to create consensus and compromise is a skill that he does not own. Do you think  the 2010 elections was a mistake or a repudiation of Obama policies like most of us living in the real world of high unemployment and expanding poverty?

Sun, 11/20/2011 - 21:46 | 1897238 Absalon
Absalon's picture

President Obama made a mistake in being too willing to compromise with the Republicans when he should have been intent on cutting their hearts out (figuratively speaking of course).

Sun, 11/20/2011 - 19:52 | 1896891 topcallingtroll
topcallingtroll's picture

Go back to Daily Kos and Truthout.

You will be happier there.

Sun, 11/20/2011 - 19:08 | 1896733 bnbdnb
bnbdnb's picture

Futures down a bill.

Sun, 11/20/2011 - 19:14 | 1896746 Fazzie
Fazzie's picture

Bullish? I hate to give CNBS any spin ideas but with the supercommittes failure to reach a compromise, the uncertainty is gone and the US economy is saved fbecause of the tough medicine of the aotomatic cuts! Im sure theyll think of something.

 IMO this superduper crap was just another can kicking in disguise. Naturally the automatic cuts kick in but since they are delayed there is of course plenty of time for congress to reneg on them.

 Also it makes for good theatre because it makes it look like the dems and repubs arent the same and most importantly front running the eventual decision via congressional insider trading will be quite lucrative for the well connected.

 

Sun, 11/20/2011 - 19:13 | 1896748 Uber Vandal
Uber Vandal's picture

Why do all these deck chairs keep sliding toward the bow of the ship?

 

Sun, 11/20/2011 - 19:14 | 1896755 oogs66
oogs66's picture

Maybe Goldman can hook us up with a technocrat :)

Sun, 11/20/2011 - 19:15 | 1896757 surf0766
surf0766's picture

after the first show didn't they do an increase of 500 billion about a month after?

Sun, 11/20/2011 - 19:18 | 1896764 Caviar Emptor
Caviar Emptor's picture

The new social contract has been negotiated, and you lost

Sun, 11/20/2011 - 19:21 | 1896781 Lost Wages
Lost Wages's picture

This was the plan all along. Opens it up for the White House to repeat their new mantra, "We Can't Wait," and send through some nifty Executive Orders.

Sun, 11/20/2011 - 19:24 | 1896790 TheAkashicRecord
TheAkashicRecord's picture

I'm willing to wait

For some fucking real solutions and leadership 

 

Sun, 11/20/2011 - 19:24 | 1896789 Everybodys All ...
Everybodys All American's picture

Each state should begin recall elections on there Senators and Representatives. Clearly they have not come to Washington to do their f'ing job. Pass the word and march the representatives out of Washington.

 

 

Sun, 11/20/2011 - 19:25 | 1896793 midgetrannyporn
midgetrannyporn's picture

Bullish.

Sun, 11/20/2011 - 19:29 | 1896801 Fix It Again Timmy
Fix It Again Timmy's picture

The SUPER Committee is tasked with proposing (at least) $US 1.2 TRILLION worth of spending cuts in US government spending over the next decade. The Treasury has racked up an official increase in funded debt of $US 5 TRILLION in 37.5 months - four times what the "super committee" is trying to cut over the next 120 months. The absurdity of this situation is beyond any fiction, it couldn't be invented.

Oooooooooooooooooh, shit..................

http://www.youtube.com/watch?v=XynIMOmFxF0&feature=related

 

Sun, 11/20/2011 - 19:31 | 1896807 Absalon
Absalon's picture

A credit downgrade is the least of our worries.

The supercommittee was always a suicide pact.  The Republicans have decided they would rather blow the country's brains out then let part of the Bush tax cuts (which were a huge mistake in the first place) expire.  The Republicans have mismanaged this to the point where if they agree to any tax increases, or even don't manage to get an extension of the temporary Bush tax cuts, they are fucked politically.

Sun, 11/20/2011 - 19:49 | 1896883 nmewn
nmewn's picture

I don't see the first word about spending cuts in your diatribe. Barry O'Bama (the good Irish lad that he is) signed off on the tax cuts again just last year...pretty sure they have to pass the House & Senate first.

So doesn't that make them the O'Bama tax cuts now?

Sun, 11/20/2011 - 19:56 | 1896908 topcallingtroll
topcallingtroll's picture

And dont forget that if you give a deadbeat more money he will rush to spend it and forget about budgeting.

Lets get the spending under control first. Then if there are additional needs several years later, after our deadbeat has proven he can stick to a budget, then we can consider tax increases.

Sun, 11/20/2011 - 20:12 | 1896976 nmewn
nmewn's picture

They are there to spend other peoples money, not reduce it.

They refuse to use the same budgeting process everyone else uses, preferring "baseline budgeting" where their budget expenditures always rise no matter how much revenue they take in.

What a friggin deal and innovation in the budget process. The TCT & the nmewn families get to buy new cars every year because expenditures go up?...lol. Not quite.

On top of this, they refuse to subject themselves to the laws they pass on us...insider trading just the latest example.

Fuck em...they don't deserve a dime more...they deserve $50 less.

Sun, 11/20/2011 - 20:08 | 1896963 Absalon
Absalon's picture

nmewn - Spending cuts are a given.  President Obama's position is that some revenue increases are a necessary part of the solution and the Republicans have said absolutely no revenue increases.  So the Democrats are flexible on spending  cuts and the Republicans are inflexible on revenue increases. 

 

President Obama agreed to extend the Bush tax cuts (which had an expiry date).  It was a mistake.  Now they expire at the end of 2012.  The Republicans are saying that the temporary tax cuts have to be made permanent as part of any deal.

Sun, 11/20/2011 - 20:24 | 1897004 nmewn
nmewn's picture

You are asking the middle class to pay more. The "rich" get their income fom capital gains & dividends...not wages.

We just went over 15 trillion in debt because they can't find a way to cut spending. Revenue is not the problem...the spending is. And I can find a helluva lot better things to do with my wages than DC can.

Sun, 11/20/2011 - 20:48 | 1897073 Absalon
Absalon's picture

nmewn - Most spending is either on defense or middle class entitlements.  The country is going to need more revenue from the middle class because god loves the middle class and made a lot of them.  I agree that taxes on the rich also need to rise and rise more than taxes on the middle class.  

 

We did not "just" go fifteen trillion dollars in debt - that debt has been built up over a long time although accumulation has accelerated sharply during this recession.

 

Cutting spending is easy - cancel the new aircraft carriers, cancel the joint strike fighters, pull the army out of Iraq and Afghanistan immediately and then cut the military in half, cancel medicare benefits for anyone over 75 (they've lived long enough), cancel social security for anyone over 75 (same reason), cancel medicaid entirely (poor people don't deserve health care), cut the FBI and Homeland Security in half and tell them to prioritize better - there, we've made a good start.  Of course, I've picked the obvious low hanging fruit and it is after these cuts that things get difficult.

Sun, 11/20/2011 - 21:44 | 1897231 nmewn
nmewn's picture

"Of course, I've picked the obvious low hanging fruit and it is after these cuts that things get difficult."

Of course your obviously insane. Eugenics and national suicide has been tried and failed everywhere its been tried.  

How does a bureacrat not having the proper revenue stream to spend on his job (which they by their very nature is an impossibility) equate to 75yr olds dropping dead in the street?

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