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White House Chief Of Staff Warns About "Stressful Days In The Market"

Tyler Durden's picture




 

Update: we have just gotten word that there will be a GOP conference call at 4:30 pm on the debt limit. Apparently the GOP is dead set on the 8pm Asian open and disregarding the much more important FX open.

It may be time to panic... at least on a "transitory" basis. After Boehner essentially said earlier that there are still no details what the "two-tier" plan noted yesterday would look like, we now are 5 hour away to FX open. And judging by the comments of White House Chief of Staff, it is almost as if the administration would like to see a selloff. Per Reuters: "White House Chief of Staff Bill Daley said on Sunday there will be a few stressful days ahead for financial markets but that a U.S. debt deal will ultimately be reached. "In the end, we may have a few stressful days coming up -- stressful for the markets of the world and the American people," he said on the CBS program "Face the Nation. Daley quickly added that he is confident a deal will be reached to raise the debt ceiling. We are confident he is right. We are also confident that if it takes a 200 point plunge in the S&P to achieve that target, well, so be it.

We suggest grabbing front row seats at around 4pm today when the first USDXXX pairs start getting updated.

 

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Sun, 07/24/2011 - 11:03 | 1487105 TruthInSunshine
TruthInSunshine's picture

We are also confident that if it takes a 200 point plunge in the S&P to achieve that target, well, so be it.

Sheesh. We're such a nation of collective wimps.

I remember back in 2008 and 2009 where it took MANY days of 50 to 100 point INTRADAY drops in the S&P 500, cutting it in half from it's 2007 highs, to properly stress the American People (aka Hank Paulson/Goldman Sach/JP Morgan/Red Shield 'Give Us We Want & We'll Stop Tanking Your 401(k)/Retirement Accounts' play).

Sun, 07/24/2011 - 11:59 | 1487237 Bob
Bob's picture

It would appear that somebody has elected Mr. Market to lead this country.  He has advised, apparently, that he will tolerate no losses whatsoever. 

At least the waterboys of the finance industry are now speaking plainly.  Through their Mr. Market Sock Puppet, of course:

"Look, Mr. Market, we won't even allow Asian markets to drop!"  <canned applause>

Mr. Market sock puppet dances around wildly, then breaks into song: "I've got that joy! joy! joy down in my heart!  Down in my heart!  Down in my . . . " <curtain drops>

WTF.

Sun, 07/24/2011 - 12:12 | 1487310 TruthInSunshine
TruthInSunshine's picture

One would think they would try and hide it better - you know, their concern/obsession with the reaction of the markets.

Once upon a time, the duties of 'elected representatives' included paying attention to the concerns and best interests of their constituents.

It would appear that the primary role of our fine, elected representatives in modern times is to ensure that markets get the hot beef injection at all times.

"We understand the pain that formulating a new way to dramatically understate inflation is causing Americans, however, we must not and can not allow the conditions whereby shares of PCLN or LULU will fall."

https://www.nytimes.com/2011/07/24/business/investors-weigh-options-afte...

 

Aware of the pressure of Monday’s market opening, Speaker John A. Boehner said Saturday that Congressional leaders were working on a new deficit-reduction plan that would resolve the impasse and allow the debt ceiling to be raised. He said he hoped the plan could be announced within the next 24 hours.

Sun, 07/24/2011 - 12:30 | 1487384 Pedro
Pedro's picture

That angle never occured to me, but it is so true.  What an amazing sales job that these guys pull on our leaders and then our leaders to us sheep, that we are now getting worried about something that won't affect us "middle class".  Our IRA's and 401K's are already shot.  But,  your point about our elected reps is right.  One would think that Boehner would simply say "The people have spoken clearly about more spending and giveaways.  they simply don't care about the financial firms, asian markets or whatever."

Sun, 07/24/2011 - 13:32 | 1487606 knukles
knukles's picture

Aw, it's according to scrpt.

They want a cheaper dollar.  WTF think this is gonna do?
Rally it against the Zimbabwe, the Dickdongdrip and the Angolan Heebijeebie? 

Every crisis in DC is a crisis in DC whether its a crisis or not.
All Kabuki theater.

If we default, for real, not just a few day selective, specific, administrative, momentary default.... the US's borrowing capacity collapses to nil, naught, not, no more, good fucking bye for a while, meaning that only "critical" expenditures is gonna go forth.... killing innocent women and children in the 6 wars we got now, adding a few more, Bonelandsecurity, Airportscreamers, the good all Americun important shit.
Somebody's got something to really loose big time, here.  The constituencies are a-watching.

And will probably be us, the peasantry who get top pay for more anyhow.
See, without the balanced budget deal, this is all fluff.  Cut a Trillion today, spend it again in a month, anyway.

Sun, 07/24/2011 - 12:07 | 1487315 cosmictrainwreck
cosmictrainwreck's picture

Nicely done, Bob.........

Sun, 07/24/2011 - 12:11 | 1487330 Pedro
Pedro's picture

My thoughts exactly, Bob. Why can't they cut spending and let the market find its bottom. The artificial market is only helping a select few. I have heard the arguments of how tarp, QE... will hurt main street and don't buy any of them. I don't beleive that any amount of money will be good enough for the banks. They will find something else and threaten us again. Same for the govt.

Sun, 07/24/2011 - 12:39 | 1487405 Bob
Bob's picture

Mr. Market seems to have Chucky's disposition.  WTF make him our Leader? 

If we do that, we'll be screwed--at least the Greeks have a real human body to focus their ire upon.  The game here seems to be to make it all appear absolutely impersonal and beyond human influence. 

Ignore that man behind the curtain!

Sun, 07/24/2011 - 12:48 | 1487432 DoChenRollingBearing
DoChenRollingBearing's picture


From CNBC:

Dow futures: -69

S&P futures: -1.70

Nobody seems to care (12:48 PM ET Sunday)

Sun, 07/24/2011 - 13:04 | 1487471 Bob
Bob's picture

Interesting.  Of course, Al Quida hasn't attacked us in ten years, either (another sock puppet that is useful as hell for threats from our Beloved Leaders.)  Wonder if these idiots are gonna give us a chance to find out what the real market (such as it is) would do or just dramatically JUMP the way they want to and then claim to have saved us from Mr. Market's "nasty side."

Sun, 07/24/2011 - 11:05 | 1487107 DaveyJones
DaveyJones's picture

he meant decades

Sun, 07/24/2011 - 11:05 | 1487108 John Law
John Law's picture

Super Congress: Debt Ceiling Negotiators Aim to Create New Legislative Body:

http://www.huffingtonpost.com/2011/07/23/super-congress-debt-ceiling_n_9...

 

How true is this? I wonder if this is the "two-tier" Boehner is talking about?

Sun, 07/24/2011 - 11:18 | 1487152 bob_dabolina
bob_dabolina's picture

I read that earlier too and it immediately made sense for me. The American people elect these people to make tough decisions and so what do they do? Create a legislative body to make the decisions they were elected to make.

Buncha fuckin' pussies.

Sun, 07/24/2011 - 11:45 | 1487243 wisefool
wisefool's picture

 

All this does is allow the lobbyist organizations to drop their conflict of interest rules. Meaning G.E.'s tax LLMs can work for both of the two parties at the same time, regardless of their token politicians' party affiliation or which chamber they sit in. A lobbyist All-Star Game with the strawman stooge team appropriately named the Washington Generals.

Pussies indeed. People think the new "tea party" member are intransigent. You would be too if the first day you showed up to work you found out all the toilets on-site (congressional record, tax code) were pay toilets that required exact change, in values from 10 to 120,000 pages. And the only money changers in the house are the technicians for the lobbyist groups.

 

Sun, 07/24/2011 - 11:05 | 1487109 MonkeySmoke
MonkeySmoke's picture

Well, if the dollar crashes against all currencies, then gold and silver should be upstoppable; unless, of course, money was somehow put into place to get the PPT back on board.

Sun, 07/24/2011 - 11:06 | 1487111 DaveyJones
DaveyJones's picture

he meant decades

Sun, 07/24/2011 - 11:06 | 1487112 holdbuysell
holdbuysell's picture

Still getting used to the new interface but liking it. Nice job ZH/TD.

Sun, 07/24/2011 - 11:21 | 1487173 Sudden Debt
Sudden Debt's picture

to bad you can't get junked anymore....

 

Sun, 07/24/2011 - 11:27 | 1487192 MsCreant
MsCreant's picture

Junked!

Sun, 07/24/2011 - 11:58 | 1487282 Landrew
Landrew's picture

My Dear,

That's why I love you, thinking outside and ahead of the box crowd :)

Back from Tololo, Chile and I smell the IMF and World Bank there! Cranes everywhere building houses

and condos I can't afford while making more than 99% of all Chileans!

http://www.ctio.noao.edu/

Sun, 07/24/2011 - 12:01 | 1487294 gmrpeabody
gmrpeabody's picture

+1

You can still junk..., only it's a little harder.

Sun, 07/24/2011 - 12:19 | 1487359 Sunshine n Lollipops
Sunshine n Lollipops's picture

And now it's personal. No more drive-by junking. Take that, cowards!

Sun, 07/24/2011 - 11:30 | 1487201 FEDbuster
FEDbuster's picture

Is the print smaller or is it just my aging eyes?  I can barely read the reply type.

Sun, 07/24/2011 - 11:35 | 1487213 Long-John-Silver
Long-John-Silver's picture

You can increase the font size in your browser. In FireFox it's Ctrl++

Sun, 07/24/2011 - 12:17 | 1487349 gmrpeabody
gmrpeabody's picture

Same with Internet Exploder.

Sun, 07/24/2011 - 13:10 | 1487505 Use of Weapons
Use of Weapons's picture

+1

 

Thanks for that... the default was far too large.

Sun, 07/24/2011 - 11:06 | 1487113 MonkeySmoke
MonkeySmoke's picture

Well, if the dollar crashes against all currencies, then gold and silver should be upstoppable; unless, of course, money was somehow put into place to get the PPT back on board.

Sun, 07/24/2011 - 11:08 | 1487114 John Law
John Law's picture

edit: sorry, double post

Sun, 07/24/2011 - 11:10 | 1487115 Long-John-Silver
Long-John-Silver's picture

Is this is bullish for Gold and Silver? /sarc

Sun, 07/24/2011 - 12:59 | 1487465 Save_America1st
Save_America1st's picture

+5000/250 (20:1)

Sun, 07/24/2011 - 11:08 | 1487117 Chief KnocAHoma
Chief KnocAHoma's picture

Land - check

Gold and Silver - check

Protection - check

It may not happen this week, but the day will come where my family will have to live off of our small tract. Goats, chickens, deer, veggies grown in the garden.

Watching Money Never Sleeps while I peck this out -

"Lou are we going under?"

"You're asking the wrong question Jacob... Who isn't?"

Sun, 07/24/2011 - 11:10 | 1487128 Manzilla
Manzilla's picture

No it won't but hell it never hurts to be prepared. I have all that stuff as well but not because of paranoia but because they are all smart things to own.

Sun, 07/24/2011 - 11:18 | 1487154 Chief KnocAHoma
Chief KnocAHoma's picture

True... and a rsing niche market. My real estate practice was dead before I recognized the demand in small rural tracts. It is a new boom.

Sun, 07/24/2011 - 15:11 | 1487951 Bananamerican
Bananamerican's picture

what/where do you recommend to look for in acreage?

Sun, 07/24/2011 - 17:48 | 1488605 Cathartes Aura
Cathartes Aura's picture

emulate the leader-class, ala Dubya - secure aquifer, southern hemisphere (avoid the Fukushima fallout stream), no daily chemtrail flyovers with the resulting heavy metal soil & water pollution, preferably also avoid GMO cross pollination of crops. . .

Sun, 07/24/2011 - 13:48 | 1487676 DCFusor
DCFusor's picture

RIght -- good times or bad.  I started acquiring the farm, building the buildings I now use, and so on way back there in the '70s.  Not because I thought the sky was falling, but because in ANY times, it's better to live in the world of true neighborhood where friend helps friend, than in the anonymous world of the city where dog eats dog.  Homesteading was strenuous, but actually a lot of fun -- humbling at first, confidence building later.  You'll make mistakes that seem stupid in hindsight, even if like me, you were a hot-shit engineer and a go-to guy.  Over time, your knowledge will convert to wisdom, and it's a worthwhile trade to go long on.

The fact that it made me ready for "whatever" is just bonus, and I don't need to be paranoid or use tinfoil to make hats.  I prefer raccoons for hats, actually.

And for others who are basically prepared - don't forget that if things really do go downhill bad, there are going to be people you'll want to be able to help too (maybe not many, but a non-zero number -- what about that old friend who shows up unexpectedly?) -- put up a little extra for them as well.  They might be worthwhile to have around the farm, and might help with any two-legged predators that do show up.  Most people underestimate what they'd need even for themselves, so it's a good move anyway.

You might think of yourself as a great planner, but I bet you find yourself at the store to pick up something you forgot to get enough of in the last shopping trip fairly often.  Where I live it's very easy to notice yourself doing that, since one of the ways we save is to grocery shop on a momthly basis because the stores are so far away...Look at how often you do that -- now imagine either no gas or no store or any of a number of reasons you can't just call a mulligan....being really ready is fairly hard.

Sun, 07/24/2011 - 14:31 | 1487815 Chief KnocAHoma
Chief KnocAHoma's picture

Deleted

Sun, 07/24/2011 - 14:30 | 1487822 Chief KnocAHoma
Chief KnocAHoma's picture

Great response DC. I am very comfortable in managing land and producing food and killing game.

The energy thing is a weakness. My well requires electricity and I am trying to develop solar back up now, but the expense/return is not good.

So we will do the best we can. Gas and diesel are also problems, but I can go several months without either. Surely that will be enough, right?

We do two weeks every Fall on the property. My family thinks it is fun, but I am preparing them without telling or scaring them. After all, it may never happen. Our nobel leaders may put country first and solve all our problems, making my attempts at self sufficientcy moot.

Or not.

I am The Chief.

Sun, 07/24/2011 - 11:06 | 1487118 Chief KnocAHoma
Chief KnocAHoma's picture

Land - check

Gold and Silver - check

Protection - check

It may not happen this week, but the day will come where my family will have to live off of our small tract. Goats, chickens, deer, veggies grown in the garden.

Watching Money Never Sleeps while I peck this out -

"Lou are we going under?"

"You're asking the wrong question Jacob... Who isn't?"

I am The Chief

Sun, 07/24/2011 - 11:08 | 1487120 ElvisDog
ElvisDog's picture

Just more evidence that the markets are rigged ....

Sun, 07/24/2011 - 12:14 | 1487340 Boilermaker
Boilermaker's picture

Exactly my thought.  Clearly, the only thing of true importance is to recapitalize the banks/rich (take your pick) throught the three card monte scam in the markets.  Everything else is just unimportant static.

80% of the US equity market is held by the richest 1 1/2 % of Americans.  So, who are we really trying to protect here?

Sun, 07/24/2011 - 13:13 | 1487525 Bob
Bob's picture

Bingo. 

Sun, 07/24/2011 - 11:08 | 1487123 TradingJoe
TradingJoe's picture

will be very interesting week:)))

Sun, 07/24/2011 - 11:34 | 1487209 FEDbuster
FEDbuster's picture

Sure seems like they are setting the stage for one.  Turbo Tim is on just about all of the Sunday morning propaganda shows.

Sun, 07/24/2011 - 11:09 | 1487125 TK7936
TK7936's picture

Lower the debt cieling!

Sun, 07/24/2011 - 11:19 | 1487160 redpill
redpill's picture

+1

And if they have a problem figuring out what to cut, just go back in the Congressional archives and use the last budget that fit within current revenues.

 

Sun, 07/24/2011 - 11:34 | 1487212 r101958
r101958's picture

+1000

Sun, 07/24/2011 - 15:16 | 1487969 Bananamerican
Bananamerican's picture

"use the last budget that fit within current revenues."

...but then who would feel up granny?

Sun, 07/24/2011 - 15:16 | 1487970 Bananamerican
Bananamerican's picture

.

Sun, 07/24/2011 - 11:25 | 1487182 qqqqtrader
qqqqtrader's picture

Ain't gonna happen...

Remember when they use to report Govt numbers in 000's? Now it's 000,000's, won't be long, rounded to 000,000,000's.

Sun, 07/24/2011 - 11:26 | 1487189 pan
pan's picture

Hear hear!

Sun, 07/24/2011 - 11:48 | 1487252 Sudden Debt
Sudden Debt's picture

But... the higher the debt ceiling the higher PM's will go...

 

Luckely, the smart guys in Washington don't read ZH :)

Sun, 07/24/2011 - 13:55 | 1487699 DCFusor
DCFusor's picture

Or do they? (sometimes I wonder if they can even read at all)  Maybe they own the PMs too, like we do.  PM's will surely go up in nominal denominations (though I expect some whipsawing back and forth soon -- keeping some dry powder for that) -- the real question is do they go up in purchasing power?  Are the things you want to purchase even still available, or are they all locked down junk with "no user servicable parts"?  At times, good tasting, healthy, long keeping food seems like a better invesment than most other things...too bad we can't chart it against PM's or other possible investments to get that across - but if you've been paying attention for awhile, you might be surprised.

 

Sun, 07/24/2011 - 15:25 | 1487911 Zero Govt
Zero Govt's picture

DCFusor  -  you can chart the elites ownershp of PM's .. see the emptying of PM's from the Comex ..and Ron Pauls audit of Fort Knox can't come soon enough

Sun, 07/24/2011 - 11:49 | 1487257 bugs_
bugs_'s picture

Yes I like this better.  Perhaps we could lower it in two parts!! LOL

Sun, 07/24/2011 - 11:09 | 1487126 lizzy36
lizzy36's picture

What happens when Asia opens and there is no response.

We are at minimum 3 days away from the markets taking this seriously.

And when there is no Asian response, the freshman GOP class of congresspeople will dig in their heels. Herding cats anyone?

And if the market falls 20 pts, BTFD will come in, anticipating the crisis will be solved ASAP. The computers have been trained well over the last 2 years.

The far bigger deal is when the US loses its AAA. Which is all but guaranteed now. However, between now and then, i anticipate new highs for the year.

Sun, 07/24/2011 - 11:22 | 1487171 bob_dabolina
bob_dabolina's picture

Explain why the US losing it's AAA rating is a big deal? Where are you gona' put money? Spain, Italy, Greece, Portugal, eurozone?

The entire world is in fiscal hell man.

 

Sun, 07/24/2011 - 11:40 | 1487229 lizzy36
lizzy36's picture

AAA is considered Risk Free both as Collateral and in the Repo Market.

For example, Bank XYZ has certain "Risk Free" reserve requirements. When the US loses is AAA all of the sudden Bank XYZ is now scrambling to maintain its compliance with its legal Reserve Requirements. Now magnify that across the world.

Sun, 07/24/2011 - 11:42 | 1487234 bob_dabolina
bob_dabolina's picture

Lower the reserve requirements. Crisis averted.

Sun, 07/24/2011 - 12:15 | 1487344 Boilermaker
Boilermaker's picture

Precisely, they'll just adjust the rules to accomodate the situation.

Sun, 07/24/2011 - 13:13 | 1487524 Calculated_Risk
Calculated_Risk's picture

Also, many pension funds and such can only purchase highly rated investments. Another straw put on the camels back..

Sun, 07/24/2011 - 12:33 | 1487391 Cdad
Cdad's picture

Bob,

That is an utter over simplification of the issue, and I expect you know that.  It isn't just some sort of 1 for 1 transfer of dollars from here to there.  It has to do with the collateral calls that will come across the states and everywhere AAA T bills reside as collateral against other shitty debt.

And by the way, it is way past time for this to happen.  The very notion that banks are still holding AAA rated T bills as collateral against junk is just the next iteration of financial crisis.

It sounds as if Moody's and S&P will simply have no choice now but to downgrade the debt.  And thank God for it.

Sun, 07/24/2011 - 12:54 | 1487448 bob_dabolina
bob_dabolina's picture

Hopefully we'll defualt and find out what happens.

We need this default badly.

Sun, 07/24/2011 - 13:50 | 1487673 cranky-old-geezer
cranky-old-geezer's picture

It sounds as if Moody's and S&P will simply have no choice now but to downgrade the debt.

Treasury debt losing AAA rating would be a holocost on Wall Street. It would trigger trillions in collateral calls, trillions in CDS payouts, nearly collapsing the quadrillion dollar derivatives market, plus REALLY  pissing off China, Japan, etc.

And yes it needs to happen.   Bring it on.  Lets see how it all shakes out.

Sun, 07/24/2011 - 11:25 | 1487180 ElvisDog
ElvisDog's picture

A market reaction is TPTB's biggest fear, because their standard threat is "do what we want or the markets will crash". If nothing much happens, how do they effectively threaten the peasants? "Do what we want or the markets will crash eventually?"

Sun, 07/24/2011 - 12:17 | 1487346 Boilermaker
Boilermaker's picture

The peasants don't even have money yet alone equity positions / options / fx interests.

Please, the peasants haven't counted in a long long time...if ever.

Sun, 07/24/2011 - 11:09 | 1487127 warchopper
warchopper's picture

I just planted squash, radishes, and pumpkins yesterday. It's not much, but a start. Also fully hedged on a market dip. Good times.

Sun, 07/24/2011 - 11:23 | 1487178 bob_dabolina
bob_dabolina's picture

Now lock yourself in the basement with your pellet gun and don't come out. It's gona' be a little damp/dark but nice and safe for ya.

Sun, 07/24/2011 - 11:26 | 1487190 ElvisDog
ElvisDog's picture

It's too late for pumpkins you silly goose, and the same goes for squash. Time to start the winter crops - kale, spinach, and so on. Kale works really well - it's easy to grow, produces for months, and is tasty when baked into crunchy kale chips.

Sun, 07/24/2011 - 11:30 | 1487200 Smiddywesson
Smiddywesson's picture

From what I've heard, sweet potatoes are so nutritionally balanced and nourishing that you could live off of them.

Too bad they taste awful.

Sun, 07/24/2011 - 11:36 | 1487215 r101958
r101958's picture

I used to dislike them, until I grew my own. They are great!

Sun, 07/24/2011 - 12:04 | 1487304 Tijuana Donkey Show
Tijuana Donkey Show's picture

Look at sprouting and winter greens, it's cold weather that you really need fresh produce the most. PM's will trade at multiples of good seed stock..........

Sun, 07/24/2011 - 12:47 | 1487420 erg
erg's picture

I have a book that describes the local wild edibles and medicinal plants. Wild lettuce, wild hops. There's something called Queen Anne's Lace (Daucus carota). It's a wild carrot and it literally grows everywhere I look. Of course you have to be certain of what it is you're eating or you'll end up eating a dirt sandwich instead.

Sun, 07/24/2011 - 11:12 | 1487129 Sudden Debt
Sudden Debt's picture

TIME TO GO SHORT ON : EVERYTHING!!

Better wake up early boys and girls and buy the Paris BNP puts on the DOW! :)

DADDY HERE IS GOING TO MAKE SOME MONEY TO BUY MORE SILVER!!!

 

Sun, 07/24/2011 - 11:17 | 1487148 TradingJoe
TradingJoe's picture

Yeah! Short Everything, via PUTS & UltraLong GOLD AND SILVER, via Physical PMs and some LEAP CALLS!

Sun, 07/24/2011 - 11:20 | 1487165 Sudden Debt
Sudden Debt's picture

DOW Put Speeders 12750 Hedge 15 will buy me more silver ;)

 

Sun, 07/24/2011 - 11:34 | 1487208 john39
john39's picture

what happens if they reach some BS "deal" then immediately pump the markets...

Sun, 07/24/2011 - 11:57 | 1487281 Ricky Bobby
Ricky Bobby's picture

Spot on, it will be full ramp time.

Sun, 07/24/2011 - 13:42 | 1487651 FidelityBoy
FidelityBoy's picture

The stock market will not come back until they have ALLOWED the dollar to go down enough to act in the future as a buffer/cushion to then smash down the gold and silver prices.

Sun, 07/24/2011 - 11:32 | 1487204 Smiddywesson
Smiddywesson's picture

Margins rising dead ahead captain. What we ta do? ARRR

Sun, 07/24/2011 - 11:38 | 1487224 Long-John-Silver
Long-John-Silver's picture

Buy physical for delivery ASAP.

Sun, 07/24/2011 - 11:10 | 1487130 r101958
r101958's picture

If it is the 3 trillion over 10year deal then they had better all 'stand the frack by'. That will not cut the mustard.

Sun, 07/24/2011 - 11:11 | 1487131 Manzilla
Manzilla's picture

Oh my god the world is going to end! Everyone panic!

Sun, 07/24/2011 - 11:23 | 1487176 Sudden Debt
Sudden Debt's picture

after my smoke and drink oké?

BRB!

Sun, 07/24/2011 - 11:11 | 1487133 savagegoose
savagegoose's picture

fuck, i sold my etf gold , thinking a plan was in order and all was going to be honkry hoarey.

and is just gonna be whorey.

oh to be one of those pre open traders.

Sun, 07/24/2011 - 11:17 | 1487150 Sudden Debt
Sudden Debt's picture

Can't you trade international exchanges?

The market is op 24/24 you know ;)

 

Sun, 07/24/2011 - 12:25 | 1487374 cosmictrainwreck
cosmictrainwreck's picture

24/7 ? But in your case... I have no doubt it's 24/24

Sun, 07/24/2011 - 12:32 | 1487381 Sudden Debt
Sudden Debt's picture

No in the weekend the market is closed so 27/7 just can't IN MY CASE.

24/24 means arround the clock during the week. Azian to EU to US markets.

 How does it work in YOUR CASE?

Sun, 07/24/2011 - 13:42 | 1487653 cosmictrainwreck
cosmictrainwreck's picture

ooops.... hey i was just yankin' yer chain. don't be mad at me....i'm very fagile. one more smack-down & I'll pull a Boehner

Sun, 07/24/2011 - 11:46 | 1487241 JohnG
JohnG's picture

Place a limit order now, do not autoroute, route to a particular exchange.

Limit orders and non autoroute will give you....some....chance of a premarket execution, not a sure thing, better than no try.

It's worked for me in the past, but not often.

Hard to tell if you got execution, you may see available funds for trading drop.

Sun, 07/24/2011 - 11:12 | 1487135 bigfire
bigfire's picture

I could've swear that market panic iss the intent of Obama's speaches.  Just to have more ammo for the next round of emergency so they can press for more socialist bills.

Sun, 07/24/2011 - 11:29 | 1487199 ElvisDog
ElvisDog's picture

Problem with that scenario is that the people who still listen to what Obama says have little or no money in the stock market. Do you think the billionaire hedge fund managers of the world are swayed by Obama's powerful rhetoric? Of course not. They tell Obama what to do not vice versa.

Sun, 07/24/2011 - 11:14 | 1487137 Hansel
Hansel's picture

If Twitter wasn't censoring it, #FuckYouWashington would be the top trending tag right now

#FuckYouWashington

Sun, 07/24/2011 - 13:26 | 1487584 Bob
Bob's picture

Damn, it's inspiring beautiful responses, too!  Thanks for the link!

Sun, 07/24/2011 - 14:56 | 1487900 cosmictrainwreck
cosmictrainwreck's picture

looks like a doggone FU bandwagon.....apparenlty lots of "discontent" [as in FUCK YOU] out there.... dying to see if MSM has balls to even mention this HA

Sun, 07/24/2011 - 11:14 | 1487138 digalert
digalert's picture

You betcha, come hell or high water

We'll take it down with dual purpose PPT.

PPT transforms to PIT, Plunge-Inducement-Team

 

Sun, 07/24/2011 - 11:15 | 1487139 Catullus
Catullus's picture

Proving once again that the S&P500 is being use purely for political purposes.

Sun, 07/24/2011 - 11:15 | 1487140 Catullus
Catullus's picture

Double Post

Sun, 07/24/2011 - 11:15 | 1487141 Mr pain
Mr pain's picture

Eric Cantor is invested in ProShares UltraShort 20+ Year Treasury (TBT).  These should do quite well.

Sun, 07/24/2011 - 11:26 | 1487186 Tedster
Tedster's picture

Well... yeah,.. something like 15k worth, out of a portfolio worth several millions. Some kind of perspective ought to be worth something.

Sun, 07/24/2011 - 11:33 | 1487206 ElvisDog
ElvisDog's picture

And he's been losing money on it. 30 year bond rates have been trending upwards over the past few weeks.

Sun, 07/24/2011 - 14:02 | 1487728 zebrasquid
zebrasquid's picture

I believe 30 year bond rates trending up would make this short bond fund go up, not down, since increasing rates push bond prices down.

Sun, 07/24/2011 - 11:15 | 1487142 Blano
Blano's picture

Wonder which one of my hedges is going to get blown out of the water.

Dang the letter size in the comment box sure is small.

Sun, 07/24/2011 - 11:16 | 1487145 JW n FL
JW n FL's picture

http://www.youtube.com/watch?v=bYCvSntOI5s

The Media is NOT spinning the Truth so that "We the People" will be honestly better informed.

Beware of what you put in, becuase it does affect what comes out. This is true with Music, Books and Food!

Sun, 07/24/2011 - 11:16 | 1487146 Dr. Engali
Dr. Engali's picture

The debt ceiling conversation is silly. I agree these political thieves should stop spending and be held accountable. But if they are going to run up debt the market should be the final arbator as to how much debt they can run up. What really needs to happen is the fed needs to be dismantled and a return to sound money so they can't keep rates artificially low. That way the markets will force the restraints on their spending.

Sun, 07/24/2011 - 15:20 | 1487987 Zero Govt
Zero Govt's picture

You're still paying for the debt ceiling to be raised.. you're paying your taxes

Soon as you and a few million others stop paying your taxes Washington is toast and all the bankrupt parasites that live off the US Govt are too

You are responsible for what has gone before and what is happening now in Washington.. you funded it

Sun, 07/24/2011 - 11:16 | 1487147 Cassandra Syndrome
Sun, 07/24/2011 - 11:19 | 1487156 John Law Lives
John Law Lives's picture

One doesn't have to scratch too far below the surface to know where the loyalty of our leaders resides.  Wall Street!

How sad that our policitians care more about the markets than providing real leadership.

Sun, 07/24/2011 - 13:19 | 1487158 jse111
jse111's picture

Here is a "little" something to brighten an otherwise dismal morning in context of stress.

Perspective on the totality of what the Fukushima disaster represents:  http://tiny.cc/4zz81

 

Sun, 07/24/2011 - 14:29 | 1487821 max2205
max2205's picture

Hey if that happened here Monday the Dow would close up 1,500 pts

Sun, 07/24/2011 - 11:22 | 1487163 Jack Burton
Jack Burton's picture

I'de have to bet that a deal will be reached soon, or at least one would think so. Most of this is just a show for the American people to make the massive austerity coming their way seem more acceptable. The republicans have moved all the way right opening the way for Obama to move into their former positions and cram SS and Medicare cuts deep into America's pockets. Though government will keep the huge SS and Medicare tax surpluses to spend on war and tax breaks for oil companies.

It's a game, a hoax to hold SS and Medicare taxpayers hostage to the financial services industry. It was the bailouts and financial collapse brought on by bankers that brought us to 1.5 trillion $ deficits, not to mention trillion $ wars that were totally unfunded.

SS has been robbed by congress since Johnson fought the Vietnam war with SS surpluses. Now we fight Iraq and Afghanistan with borrowed money because all the SS surpluses are long gone, though some surplus is still run each year which is attached to the budget to help shrink the deficits at bit.

Sun, 07/24/2011 - 11:36 | 1487217 ElvisDog
ElvisDog's picture

I keep waiting for one of the so-called journalists at Obama's press conference to ask him "why is it you can't send out SS checks when there is constantly SS tax revenue coming into the government from paycheck withholding. What have you done with that money?".

Sun, 07/24/2011 - 12:38 | 1487406 SirIssacNewton
SirIssacNewton's picture

By the government's own figures, supposedly, there's still 3 workers supporting every 1 SS recipient.  There's no reason the checks shouldn't go out....other than OBummer's desire to squeeze the maximum effect from this issue.  I just wish they would forget abou these stupid games and try to do something real to move towards a helpful solution....but than I will run out of life before that happens.

Sun, 07/24/2011 - 14:16 | 1487682 hangemhigh
hangemhigh's picture

TO: Jack Burton          Sun, 07/24/2011 - 11:22 |

It's a game, a hoax to hold SS and Medicare taxpayers hostage to the financial services industry. It was the bailouts and financial collapse brought on by bankers that brought us to 1.5 trillion $ deficits, not to mention trillion $ wars that were totally unfunded.

 

JB:  a game with long term planning and strategic objectives securely in place.  it was obvious for years that following the millennia change (Y2k) the entitlements overhang would kick in big-time.  efectively hedging against that budgetary outcome was critical to the plutocrats whose well being depends absolutely upon maintaing their privileged, 'priority access' to federal revenues.

year 1999=congress repeals glass-steagall legislation.  bubba clinton signs bill into law

year 2000=hanging chads in jeb bush's florida; scotus gives baby bush the brass ring.

year 2001= 9/11; mic scores catbird seat with endless unwinnable wars to drive future budget allocations

year 2003= baby bush signs medicare prescription and drug improvement modernization act; medical industrial complex gets unfunded $1t revenue source  put in place. 

year 2007-2008: wall street crime cartel crashes global markets with toxic waste debt derivatives; congress/fed pony up $16t to bail casino owners out of gambling debts.

this covert plan, with these outcomes, has been in place and functioning for quite some time

now that the parasitic kleptocrats have gotten theirs, it's end game time

 

Sun, 07/24/2011 - 15:35 | 1488043 Zero Govt
Zero Govt's picture

wish i could believe in some great Masterplan but i don't ...the steps you detail are dirty scheming plans in their own individual right, but not in my opinion part of a greater scam

what we rule out all to easily is stupidity.. we think the Elite are super-intelligent when in fact they're such a bunch of morons they can't run a business, or bank, without bankruptcy and needing a bailout

Goldman Sucks and JP Morgan are amongst the dumbest and most inept parasites on the planet ...everyone in the US Govt too... they need constant corruption to make up for being constantly dumb

don't over-estimate these morons

Sun, 07/24/2011 - 21:33 | 1488274 hangemhigh
hangemhigh's picture

TO:  Zero Govt  Sun, 07/24/2011 - 15:35 | Zero Govt (Total

"Goldman Sucks and JP Morgan are amongst the dumbest and most inept parasites on the planet ...everyone in the US Govt too... they need constant corruption to make up for being constantly dumb   don't over-estimate these morons"

zg: i agree that these guys are all prime time examples of a homegrown dumb and dumber syndrome. however, at the same time i'd suggest that, while these lower forms of life are allowed to operate near the the apex of the pyramid, they were given that privilege precisely because of those failings. there is a higher power at work that does the the big picture thinking and actively looks for manipulable, predatory wannbes to carry out their action plans.............. .... 

matrix, anyone???...............

Mon, 07/25/2011 - 01:29 | 1489812 Zero Govt
Zero Govt's picture

it's not a Matrix... it's a Monopoly

Govt is a monopoly system of power and authority in society. It is easy to infiltrate and easier to corrupt than a free society or market as there's only one target to ingratiate yourself with, probably only a handful of key decision-makers to lavish with brown envelopes

the competition mechanism weeds the productive (good, smart and creative) from the unproductive (cretins, lazy and inept). The monopoly mechanism has no such checks, balances and killer mechanisms which allows the ignorant to be ignorant forever and for the cancer of stupidity and corrupton to spread

..that's precisely why the Bailouts have grown the problem of bankrupt stupid greedy fraudulent cunts (Wall Street) rather than a free market which would have killed these bankrupt morons dead in 2008

we have a big systemic problem in society: the problem inherent in all monopolies. So long as we are dumb or lazy enough to support and endorse this tragic socio-economic system rather than a free market/society by paying our taxes to fund and fuel this monopoly we get what we deserve

it's 'Wakey Wakey' time because monopolies have no checks or balances and as we see with both the Eurozone and US they're now running amock and out of control in society. Check history and that's exactly what all monoply systems do.. they are designed to go ape-shit because they have no competition mechanisms to put this stupidity and corruption to the sword

Sun, 07/24/2011 - 11:20 | 1487166 oogs66
oogs66's picture

America, the land of the free and the brave and those who are scared of Asian Stock Market opening?  It was bad enough that the Fed now views the Russell 2000 as the economy but the politicians are fully on board with that too.

Sun, 07/24/2011 - 11:20 | 1487167 Quinvarius
Quinvarius's picture

That is the problem with government market manipulation.  Once you look the other way and allow it, it can get used for a lot of different purposes. 

Sun, 07/24/2011 - 11:21 | 1487170 Arius
Arius's picture

BRING IT ON ....you f...ers...

Sun, 07/24/2011 - 11:22 | 1487174 Freddie Krugerrand
Freddie Krugerrand's picture

The very fact that everyone in D.C. is so fixated on "the markets" is proof positive that the finance-centric focus of this country has eclipsed all else.  For the USA as we knew it, these are the end of days.  A generation from now, when we are well on our way to a new order, we'll look back on the 30-year period (1980 - 2010) and say "What were we thinking?!!"

Sun, 07/24/2011 - 11:25 | 1487181 PY-129-20
PY-129-20's picture

I think the worst that could happen right now would be if a hooker turns down an GS employee. I mean in that case I could understand all this apocalyptic talk - it would certainly be the end of the world and not this debt ceiling talk nonsense.

In that case water would turn into blood, rocks would fall from the sky, whole cities disappear...

Sun, 07/24/2011 - 11:28 | 1487183 Jack Burton
Jack Burton's picture

Markets have ceased to be a function of the fundamental economies around the world and have become slaves to government and central bank manipulation. The trade on wall-street is the "federal reserve policy trade", not the economic fundamentals. Big traders bet the Fed will backstop a run up in equities. I was too dumb to participate in the big run up because I was looking at the fundamentals not the backdoor guarantee of a rising stock market.

 

Sun, 07/24/2011 - 11:26 | 1487187 mailll
mailll's picture

And bond market manipulation as well as stock market manipulation.

 

Sun, 07/24/2011 - 11:26 | 1487188 lizzy36
lizzy36's picture

OMG, Jeb Bush may run in 2012. Likely for 2016. In the mean time he may be on Dancing With The Stars.

Delusions of fucking insanity.

Jeb Bush, who has made clear he isn't running for president this cycle, raised some eyebrows on Sean Hannity's Fox News show Friday night with this comment about a potential campaign:

"I don’t anticipate that. You never say never. This is a standard answer that I’ve kind of learned how to give which is — you never say never, but I never rule out being on Dancing with the Stars either … there are a lot of ways you can make a difference

Read more: http://www.politico.com/news/stories/0711/59717.html#ixzz1T2LBW71q

Sun, 07/24/2011 - 11:47 | 1487251 bugs_
bugs_'s picture

Like reverend Jackson said "Stay out the Bushes!! Stay out the Bushes!!'  This time even I won't vote for another Bush so Jeb is dreaming.

Sun, 07/24/2011 - 11:56 | 1487278 Conrad Murray
Conrad Murray's picture

bugs_ says no mas? This truly signals the end of a dynasty.

Sun, 07/24/2011 - 13:48 | 1487672 lizzy36
lizzy36's picture

Bugs if not even you will vote for this particular GOP candidate than truly the Bush dynasty is over ;)

Sun, 07/24/2011 - 11:27 | 1487194 bob_dabolina
bob_dabolina's picture

Everyone should just shut up, stop whining, and eat your peas.

Sun, 07/24/2011 - 11:37 | 1487223 ElvisDog
ElvisDog's picture

Can someone explain the "eat your peas" reference to me. I must not have been paying attention when it happened, and now it pops up everywhere.

Sun, 07/24/2011 - 11:58 | 1487245 bob_dabolina
bob_dabolina's picture

Obama told the American people on live TV to "Eat your peas" I don't see his fat ass wife eating her peas, she stuffs her face with porkchops and galavants around the world on lavish vacations with taxpayers money (they both took one recently to India and spent 200 million dollars) That's a nice taxpayer funded vacation with a U6 unemployment number reaching 18% with 15 trillion in debt, and food stamp participation records being SMASHED month after month. Eat your fuckin' peas he tells us.

It makes me mad because I'm his fuckin' boss. If I went up to my boss at work and told him to eat his peas he would knock my ass out before throwing me out the door.

But such is life when the country is being run by a megalomaniac that thinks he's a king. Let's be real for a minute, the real reason Obama wants to raise the debt ceiling is to keep Michele swimming in fried chicken/pulled pork and to fund her lavish vacations to Spain and what not. It's gona' take a debt ceiling increase to keep her in the  lifesytle she has grown so accustomed to.

Sun, 07/24/2011 - 11:58 | 1487283 spear-x
spear-x's picture

 

The blame game is an excuse to sit on your ass and do nothing.

 

Maybe it's time the populace grow a set and start standing up to this bullshit rather than letting these assholes walk all over them.

 

Fuck eating peas. I say chew 'em up and spit 'em back!!!

Sun, 07/24/2011 - 12:00 | 1487287 DoChenRollingBearing
DoChenRollingBearing's picture

+ $14,500,000,000,000

Hope I got 14.5 trillion right this time...  I was off by three zeros last time.

$118,000 debt per taxpyer...

Sun, 07/24/2011 - 12:30 | 1487386 Sudden Debt
Sudden Debt's picture

$118,000 debt per taxpyer...

Yes, but think about all the things you get in return for that!

 

Sun, 07/24/2011 - 14:48 | 1487883 Escapeclaws
Escapeclaws's picture

You mean like this?   {}

Sun, 07/24/2011 - 11:50 | 1487261 JohnG
JohnG's picture

O'shitforbrains said it in a press conference, along with "do our homework" and a bunch of other inane crap.

Sun, 07/24/2011 - 11:27 | 1487195 pan
pan's picture

QE3 bitchez!

Sun, 07/24/2011 - 11:39 | 1487196 Franken_Stein
Franken_Stein's picture

 

What about the possibility of trying to harden mankind against radiation by artificially exposing them to the Fukushima contamination in order to prepare them for future space travel ?

Some kind of man-made evolution ?

Oh and in the process reducing it of course to "appropriate" levels ?

 

I wonder if they invited Craig Venter to one of the Bilderberg meetings ?

But I know what Ray Kurzweil thinks about this topic.

Nanobots who will repair our cells and DNA.

 

I know there are molecules which move along the DNA helix strings and constantly repair damaged genes and nucleotid sequences that if not acted upon could possibly lead to an erroneous coding of protein synthesis, the so-called proteom, which in turn leads to either cancer or apoptosis, the death of the cell.

 

Sun, 07/24/2011 - 11:28 | 1487197 BetTheHouse
BetTheHouse's picture

All this fucking drama and brinksmanship is going to result in a last minute deal which solves nothing.  Then a downgrade.  Then the actual fun begins.  Say, next Tuesday or so. 

Sun, 07/24/2011 - 11:31 | 1487202 Seasmoke
Seasmoke's picture

dont tell me to eat my peas, and tell me it is raining

Sun, 07/24/2011 - 11:31 | 1487203 Id fight Gandhi
Id fight Gandhi's picture

Ugh, can't we just have free markets?

Stock market wealth is just the top 10% people owning 90% of it. So the us government must serve their needs for a phony inflated markets while making the rest of us suffer with a worthless dollar and unemployment.

I don't see any real solution passed or not passed.

Sun, 07/24/2011 - 12:54 | 1487450 Real Estate Geek
Real Estate Geek's picture

Ugh, can't we just have free markets?

We tried that, and it didn't work.  Rich people occasionally lost money, and we simply can't allow that.

Sun, 07/24/2011 - 11:34 | 1487210 Trying to Understand
Trying to Understand's picture

"We suggest grabbing front row seats at around 4pm today when the first USDXXX pairs start getting updated."

Is/Are there a link/s where the non "financial techies" (re: john q. public, who has no idea where such a link could be found) can monitor, without subscription, the opening the referenced 'show/s'?

Sun, 07/24/2011 - 11:40 | 1487230 ElvisDog
ElvisDog's picture

Just log into ZH at 4:01 or so and there will most likely be an update.

Sun, 07/24/2011 - 11:52 | 1487266 JohnG
JohnG's picture

netdania.

Sun, 07/24/2011 - 12:11 | 1487326 bugfixx
bugfixx's picture

 

Here's a free seat for the show.

http://www.forex-markets.com/quotes.htm

Sun, 07/24/2011 - 12:57 | 1487459 Prometheus418
Prometheus418's picture

www.silverprice.org has a good java app that will let you set the timeline and pairs watched.

Click on either of the graphs at the top of the page, and it will load a page with the graph.  Then you can click on "instruments" on the top left and select what you want to look at.  If what pops up isn't quite enough for you, there are a lot more currency pairs under "more currencies" at the bottom of the list.

(no affiliation, I just like the interface.)

Sun, 07/24/2011 - 14:32 | 1487829 max2205
max2205's picture

How big, or should I say small do you think the exit door is for equities?

Sun, 07/24/2011 - 11:36 | 1487220 the not so migh...
the not so mighty maximiza's picture

We are all going to die!!!!!!

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