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White House Press Briefing Summary On Debt Ceiling

Tyler Durden's picture


The latest meaningless headlines from White House spokesman Jay Carney:

  • CARNEY SAYS NO REASON TO REPEAT DEBT DEBATE LATER THIS YEAR Except for retaining Obama's job of course
  • CARNEY SAYS AMERICAN PEOPLE WANT COMPROMISE ON DEBT LIMIT Preferably the democrat compromise which saves a few quadrillion by not launching war on Mars?

Bottom line: algos now using every appearance of the word "compromise" in a headline as buying trigger.

Update: S&P jumps 1 point on the following use of the word "compromise"


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Thu, 07/28/2011 - 11:42 | 1501246 Agent P
Agent P's picture

CARNEYs...circus folk...small hands...smell like cabbage.

Thu, 07/28/2011 - 11:47 | 1501272 tip e. canoe
tip e. canoe's picture


Thu, 07/28/2011 - 11:56 | 1501294 baby_BLYTHE
baby_BLYTHE's picture

he's a better faker than Gibbs. With Gibbs you at least you had the occasional chuckle.

Thu, 07/28/2011 - 13:14 | 1501546 Cathartes Aura
Cathartes Aura's picture

Nick Cave & the Bad Seeds ~"The Carney"  ~ thread soundtrack:

Dog-boy, atlas, half-man, the geeks, the hired hands
There was not one among them that did not cast an eye behind
In the hope that the carny would return to his own kind

Thu, 07/28/2011 - 11:55 | 1501291 redpill
redpill's picture

Nomads, you know

Thu, 07/28/2011 - 12:23 | 1501328 Zero Govt
Zero Govt's picture



...who gives a crap.. these charlatans have painted themselves into a corner, all out of money, bent every rule in the game to their favour (lowered interest rates to zero, cooked every book and statistic etc) and STILL the cretins have spent themselves into oblivion

...wake me up when they crash.. these clowns re-arranging the deckchairs can go to hell but who'd want to miss seeing the ship hit the iceberg and the parasites drown eh?

Frank, Dodd, Pelosi, Reid, Cantona, McCain, Boehner.... pass the fuking popcorn

Thu, 07/28/2011 - 12:29 | 1501419 Everybodys All ...
Everybodys All American's picture

How ironic that a carney is Obama's press secretary.

Thu, 07/28/2011 - 11:42 | 1501247 mmlevine
mmlevine's picture

Why is ES up 14 pts?  Anyone?

Thu, 07/28/2011 - 11:46 | 1501268 Aductor
Aductor's picture

I admire your belief in a rational market.

Thu, 07/28/2011 - 11:49 | 1501279 mmlevine
mmlevine's picture

My real money is short this market believing it should be rational.  But - I've always been an idealist (or a sucker).


Thu, 07/28/2011 - 12:32 | 1501427 buzzsaw99
buzzsaw99's picture

you just answered your own question.

Thu, 07/28/2011 - 12:39 | 1501439 Bob
Bob's picture

I'm talking my book when I say this, but I think--if there's anything legitimate going on--people are buying the fucking dip today, anticipating the post-deal bounce.  I hope to see the Tea Party standing fast.  Not only for the good of my money, short-term at least, but for the promise of a multi-party system.  These people are my antithesis in some ways, but I gotta give it up: They rock.  They are not Republicans.  They are a different party altogether.

Thu, 07/28/2011 - 12:46 | 1501473 Manthong
Manthong's picture

The market is rational to the same degree that a circus act features a clown con man that conducts a crap game and juggles the dice.

Thu, 07/28/2011 - 11:49 | 1501280 TSA Thug
TSA Thug's picture

Gold is setting up for a big money move (-). It's going to be sweet like patting down a PYT. On these big vertical moves it always pulls back before it advances.


--You WILL Obey!

Thu, 07/28/2011 - 11:42 | 1501248 Cassandra Syndrome
Cassandra Syndrome's picture
Thu, 07/28/2011 - 11:42 | 1501250 Rainman
Rainman's picture


Thu, 07/28/2011 - 11:42 | 1501253 TSA Thug
TSA Thug's picture


Upside: only 5 days left till this drama ends.


--You WILL Obey!

Thu, 07/28/2011 - 11:43 | 1501254 TradingJoe
TradingJoe's picture

Well, everybody and their mommas are "buying" the "compromise" that isn't in YET! Volume as usual nowhere to be found :))) the "surprise" at today's latest tomorrow's closing will be very interesting "stuff"!

Thu, 07/28/2011 - 11:43 | 1501256 Aductor
Aductor's picture

Compromise compromise compromise compromise compromise compromise compromise compromise.

Sorry, I am all cash and need a better entrypoint to short.

Thu, 07/28/2011 - 12:31 | 1501423 Commander Cody
Commander Cody's picture

When the time is right, shorting will be illegal.

Thu, 07/28/2011 - 11:56 | 1501263 Sudden Debt
Sudden Debt's picture

If this debt ceiling thing keeps dragging on like this...



I think this debt ceiling crap is the biggest waist of time ever. WHY DIDN'T THEY SPEAK UP WHEN THE MONEY FLEW THROUGH THE WINDOWS?

It's so typical that the opposition just uses this to get elected next year. They are using the same tactics like Obama used to get elected.

Obama trashed the debt ceiling raise of Bush, Boehoehoener trashes Obama debt ceiling rise and after this? Who will trash the next presidents debt ceiling "request"?

the opposition...

BUT NEVER! NEVER does anybody tries to block government WHILE THEY ARE SPENDING THAT MONEY.




To bad you can't really boycot it. If only 1 person shows up in each state, it would already be enough the elect one.

Thu, 07/28/2011 - 13:28 | 1501592 pods
pods's picture

You are on to something SD. I read this piece and it changed my thinking about the old adage "If you dont vote, you cant complain."

"Voting:  The God That Failed."


Thu, 07/28/2011 - 11:47 | 1501271 CrashisOptimistic
CrashisOptimistic's picture




Expect Boehner to start using it after his bill passes.

Thu, 07/28/2011 - 12:00 | 1501310 wang (not verified)
wang's picture

I think it may pass as I think the TP will cave, but it also seems that both dem and rep establisment are trying to provoke them in such a way that they vote it down.  That way the establishment and their media echo can blame the TP for all the turmoil that will follow.  From insane McCain's comments about them to Reids reference to Boner giving the TP a big sloppy kiss, I think they are being set up as  scape goats,

Thu, 07/28/2011 - 12:27 | 1501402 depression
depression's picture

TP wants a grand reset / collapse. No way the TP gives an inch of ground to Obama. The problem is there is no leadership in the center. Its either the far left or far right driving the two polar sides of the debate. The center will either have to pick a side (highly unlikely) or they will have to come up with a new plan with the votes to back it up.

Thu, 07/28/2011 - 12:55 | 1501499 ZeroAffect
ZeroAffect's picture

With all due respect to your view depression, this fight pits the Elites & their vast herd of WannaBee Elites, against the people who hope to maintain their freedom. TYRANNY is in an advanced stage of success and is nearing the tipping point. Very little time left for all rational thinking people versus the irrational WannaBee Elites who have their heads-up-the-butts of the Elite.

Thu, 07/28/2011 - 11:54 | 1501290 espirit
espirit's picture

Carney: Coney Island entertainment for the sheeples.

Boner have the hot dogs?

Thu, 07/28/2011 - 11:59 | 1501292 SheepDog-One
SheepDog-One's picture

Carney- 'The ONLY responsible action here is to 'compromise' and HAND OVER THE DAMN BLANK CHECKS! NOW!'

Thu, 07/28/2011 - 11:56 | 1501295 nah
nah's picture

sounds serious bitchez

Thu, 07/28/2011 - 11:56 | 1501296 Raskolnikoff
Raskolnikoff's picture

Why waste time debating this fiscal nightmare? That's what Obama wants, he needs to point fingers and demonize somebody. I really could never figure out why the media was so antagonistic to Bush when he was as much socialist minded as the editors and producers of the MSM. Just like this budget proposal by the Republicans, no real teeth, no substantive cuts, so what's all the fuss about. Again, Obama just needs someone, anyone to be able to point a finger at, that's it. What a waste of time this whole thing is. If anyone is serious about cutting government and becoming more fiscally responsible, we are all just going to have to wait till next election

Thu, 07/28/2011 - 14:57 | 1501861 Rick Masters
Rick Masters's picture

Sorry for pointing u out but waaah waaaah waaaaaah...this is the umpteenth post i've read about obammy bein meean to tea party...seriously gorw a set or call the tea party waht it really is...little whiney biotches...thin skinned, whiney and always complaining...shut up. that what most people think. just shut it. if people dont like you who cares but u cant make em like u.

Thu, 07/28/2011 - 11:56 | 1501297 Macchendra
Macchendra's picture

Self confidence leaks
From a thousand wounds
Faults of civilizations
Burning the private paradise of dreams
Minus hands of the electric clock

Thu, 07/28/2011 - 11:57 | 1501299 oa92000
oa92000's picture

bottom line : US not going to default.. or Japan & china will be very, very angry...

Thu, 07/28/2011 - 11:57 | 1501301 ZeroPower
ZeroPower's picture

US CDS 62.5/65.5


Thu, 07/28/2011 - 11:58 | 1501303 pepperspray
pepperspray's picture

Carney was quick today. No bananas.

Thu, 07/28/2011 - 12:00 | 1501313 Logans_Run
Logans_Run's picture
  • Anyone checked the front gates at Yellowstone or Yosemite lately to determine if there is a "For Sale" sign? I don't trust Jeethner.

    Thu, 07/28/2011 - 12:01 | 1501314 oa92000
    oa92000's picture

    Jamie Dimon said he sent a letter to the Obama administration and the U.S. Congress

    Thu, 07/28/2011 - 12:02 | 1501318 phraseshifter
    phraseshifter's picture

    Carnie: "How 'ya doin' Ralphie Boy!"

    Thu, 07/28/2011 - 12:05 | 1501319 monopoly
    monopoly's picture

    Compromise, right. As long as it is Obamas way. Have you noticed not one politician has stated "We will get  the ball rolling with a 10% pay cut in Congress and a 25% reduction in expenses. It is only right that We lead the way.

    I know, I am dreaming, most of them are multi-millionaires with D. Issa worth 1/2 a billion dollars. Absurd they even take a pay check. Love of the country, right. Love of ME.

    Makes me sick.

    Thu, 07/28/2011 - 12:04 | 1501320 djsmps
    djsmps's picture

    Is this going to be a 200 point Dow day?

    Thu, 07/28/2011 - 12:07 | 1501333 SheepDog-One
    SheepDog-One's picture

    Depends on whether someone says 'compromise' again or not.

    Thu, 07/28/2011 - 12:08 | 1501336 shushup
    shushup's picture

    There is only one interesting thing about can tell when he lies in defending the president. There is a subtle but noticable change in the look on his face. I would love to see a  body language professional analize some of his pressers.

    Thu, 07/28/2011 - 12:08 | 1501337 RobotTrader
    RobotTrader's picture



    Perfectly controlled market today.

    Stocks up:  Check

    Bonds up:  Check

    Gold down:  Check

    Commodity prices contained:  Check

    Inflation expectations non-existent:  Check

    Thu, 07/28/2011 - 12:24 | 1501388 Cassandra Syndrome
    Cassandra Syndrome's picture

    Gold Up Now: Check

    Thu, 07/28/2011 - 12:44 | 1501451 sbenard
    sbenard's picture

    Commodity prices contained? Inflation expectations non-existent? What planet are you living on, because it sure isn't this one?

    Corn: June 30, 2010 -- $3.45 bushel

    Corn: July 27, 2011 -- $6.91/bushel (yesterday's close)

    That is a 100% increase in ONE YEAR! Other grains and food commodities have experienced similar gains. Cotton was limit UP one day so far this week!

    Just because you and your complicit collaborators in the government are blind, doesn't mean the rest of us are equally ignorant!

    Thu, 07/28/2011 - 13:00 | 1501513 KickIce
    KickIce's picture

    Cotton crops are hurting throughout the south.

    Rice also seems to in trouble.

    Corn growing seems decent.

    Texas, Kansas and Arkansas are all experiencing severe drought and heat warnings.


    Thu, 07/28/2011 - 13:21 | 1501570 Cathartes Aura
    Cathartes Aura's picture

    weather modification, working as intended.

    (and for those who still dismiss this, put those words into a search engine & read of the commercial ventures that use it already, then add in the usual suspects in the shadows)

    Thu, 07/28/2011 - 12:10 | 1501343 oa92000
    oa92000's picture

    what will happen to gold, if debt ceiling get raised?

    Thu, 07/28/2011 - 12:18 | 1501360 SRV - ES339
    SRV - ES339's picture

    Initial takedown (I follow Ag more) to take advantage of the sell bias... then the usual slow (or maybe not so slow) recovery to the $40 - $42 range.

    Thu, 07/28/2011 - 12:32 | 1501426 firefighter302
    firefighter302's picture

    What gold does this week is not my focus.  The short term can be moved by meaningless news and margin increases, ect. The long term trend is up, way up.

    My focus is on government's continuance down a path of unsustainable entitlements, diluted fiat and expanding debt/GDP. 

    When that gets addressed, then it will be time to check to PM prices in a meaningful way and consider selling.  Until then, my plan is regular purchases as I am able, regardless of the daily price.

    Thu, 07/28/2011 - 13:18 | 1501560 viahj
    viahj's picture

    as long as CB's are net buyers of AU, I would not even be thinking of selling.  the debt ceiling raise means nothing in the grand scheme, it's political theatre. 

    Thu, 07/28/2011 - 12:13 | 1501350 slaughterer
    slaughterer's picture

    Can anything else pump the markets today?  S&P coming out with a COMPROMISE on US debt rating?  Iran ready for a COMPROMISE with Israel?  Fed willing to reach a COMPROMISE on QE3? 

    Thu, 07/28/2011 - 12:16 | 1501357 sbenard
    sbenard's picture

    What "compromise" is there in a plan created FOR, BY, and BENFITING only progressives? To the Teleprompter Tyrant, compromise means "give me what I want"! That's not compromise. That's TYRANNY!

    Carney is just the stooge of the Propaganda President, the Deceiver in Chief!

    Thu, 07/28/2011 - 14:04 | 1501696 1911A1
    1911A1's picture

    Remember all of the "fiscal responsibility" conferences Obummer held the past few years?  Where is the "fiscal responsibility" now?


    Thu, 07/28/2011 - 12:20 | 1501373 sbenard
    sbenard's picture

    If this passes, Obama is now America's Dictator! That title was previously used by Benito Mussolini to describe what was, at that time, his friend, FDR! Now, the man who thinks of FDR as his hero, is working hard to earn the same moniker.

    Barack Insane Obama is THE most catastrophic error of our generation, and he is quickly becoming the Dictator in Chief. He is the greatest threat to freedom in our lifetimes!

    Thu, 07/28/2011 - 12:27 | 1501404 SRV - ES339
    SRV - ES339's picture

    Can we assume you support the handfull of TP wackos in The House with that pro Mussolini, Koch Bros, and Michelle Caruso-Cabrera position... yes you can tell much about a person by the company they keep.

    Thu, 07/28/2011 - 12:44 | 1501462 Commander Cody
    Commander Cody's picture

    Apparently, you have been swayed to believe this is really about an imminent default?  Seems statist to me that a non-tax increase position should be espoused.  Spending cuts OK?  Entitlements sacred or not?  I'm blown away by the Texas Flood of BS emanating from DC.  And what about MCC's boobies?  You were referring to them, no?

    Thu, 07/28/2011 - 13:29 | 1501594 SRV - ES339
    SRV - ES339's picture

    Not at all... it's politically motivated to defeat the president and gain control of congress... won't happen, and is blowing up in the faces of the GOP wannabe leaders as we speak.

    As for bobble head MCC... I prefer to have my boobs attached to a real brain.

    Thu, 07/28/2011 - 12:23 | 1501385 oa92000
    oa92000's picture

    Fourteen members of the Financial Services Forum, a non-partisan financial and economic policy organization made up of the chief executives of the largest banks and other financial institutions, sent a letter to the White House and Capitol Hill, urging "concrete steps to put our nation on a sound fiscal footing.

    "The consequences of inaction -- for our economy, the already struggling job market, the financial circumstances of American businesses and families, and for America's global economic leadership -- would be very grave.

    Thu, 07/28/2011 - 12:51 | 1501493 KickIce
    KickIce's picture

    We are well beyond the point of no return.  Austerity or additional debt /money printing will result in hardship.  Looks like the majority of tea party reps are going to fold like a tent.

    Thu, 07/28/2011 - 12:30 | 1501421 Caviar Emptor
    Caviar Emptor's picture

    As an American, my most cynical beliefs have been fully validated since the crisis erupted on 2007.

    And it keeps getting better and better. Everytime I look around, I realize that this country is now the clueless led by the brain dead who's role models are the blind. 

    There's only one way out: decline and ultimate calamity. If this were Italy, I'd say decline only. But it's not. We'll be in-fighting for the next 200 years. 

    Thu, 07/28/2011 - 12:35 | 1501424 Husk-Erzulie
    Husk-Erzulie's picture

    Watched MSM (msnbc & cnn) last night for the first time in awhile.  Was just amazed to see them rascals going after the Tea Party reps hammer and fuckin' tongs.  All of a sudden the constitution is too precious and too sacred to be fooled with by any such notion as a balanced budget amendment.  Phht.  I say let's have a balanced budget amendment but one which will allow the government to run a deficit if, and only if, the country in a declared and congressionally acknowledged state of war.  You hear that Barry, you vapid shite monger?  No kinetic actions, no humanitarian bombing, no covert actions, no slippery slopes (days not weeks), no drug running and assassination fun and games.  And while we're at it (gutting the constitution that is) let's pitch the commerce clause.  That baby has taken more abuse than Anna Nicole on a three day drunk.  Stick to your guns ye beautiful tea baggin fools.

    Thu, 07/28/2011 - 12:32 | 1501425 williambanzai7
    williambanzai7's picture


    Thu, 07/28/2011 - 12:44 | 1501465 KickIce
    KickIce's picture
  • CARNEY SAYS AMERICAN PEOPLE WANT COMPROMISE ON DEBT LIMIT Preferably the democrat compromise which saves a few quadrillion by not launching war on Mars?

    Compromise is one of the main reasons we are FUBAR today.

    Thu, 07/28/2011 - 12:51 | 1501472 SRV - ES339
    SRV - ES339's picture
  • CARNEY SAYS NO REASON TO REPEAT DEBT DEBATE LATER THIS YEAR Except for retaining Obama's job of course
  • CARNEY SAYS AMERICAN PEOPLE WANT COMPROMISE ON DEBT LIMIT Preferably the democrat compromise which saves a few quadrillion by not launching war on Mars?
  • You actually believe it would be positive to start this again in a couple of months? And of course, the GOP wanting to keep this circus going up to the election is simply a pricipled stance, and is in no way political (rotflmfao)!

    The Dems have comprimised on almost every position... yet not one GOP compromise (because the TP controllers are threatening primary challenges to any that dare to act like an adult)... have you been attending too many Fight Nights of late Tyler, is this just more knee jerk anti-Obama trite, are all the Tylers really Koch Bros in disguise, or are they threatening to close you down if you don't play along? Oh well, at least you can take comfort in the fact you have the support of that pillar of financial analysis... Michelle Caruso Caboobs!


    Thu, 07/28/2011 - 12:57 | 1501503 candyman
    candyman's picture

    rrrright ...819 days without a budget. Lots of comprise. go back to sleep.

    Thu, 07/28/2011 - 13:58 | 1501674 1911A1
    1911A1's picture

    How about we actually see some bills passed by the Senate before declaring that they are willing to "compromise"?

    It looks like Reid can't even get his own party to agree on tax increases.  They could have done so in the two years prior to the 2010 elections since they had the house, senate and presidency, but didn't.

    Thu, 07/28/2011 - 12:50 | 1501488 slewie the pi-rat
    slewie the pi-rat's picture

    thx, TD

    Thu, 07/28/2011 - 12:55 | 1501500 Everybodys All ...
    Everybodys All American's picture

    This carney show is about trying to make the Tea Party seem extreme. I'm convinced more than ever.

    Thu, 07/28/2011 - 14:25 | 1501629 SRV - ES339
    SRV - ES339's picture

    This carney show is about trying to make the Tea Party seem extreme

    Why do I fear thsi is supposed to be a serious comment... rotflmfao! They had their 15 minutes... it's over.

    Seems one of the more vocal (on how to solve the worlds financial issues) freshmen in the House had a few related personal issues that didn't go so well... defaulted on his mortgage and isn't making child support payments... but go ahead, take his rock solid advice!

    Thu, 07/28/2011 - 14:51 | 1501837 flattrader
    flattrader's picture

    "trying to make the Tea Party SEEM extreme?"

    Never before have so many old, fat-assed Americans been on board with the agenda of Billionaire predators.

    If the pedator's name was Goldman Sachs rather than Koch Bros. Industries, ZHers would be howling for blood.

    Thu, 07/28/2011 - 13:04 | 1501519 mendigo
    mendigo's picture

    so repubs put together a plan to save the nation in 24 hours - very impressive

    boner looks like he picked the wrong day to stop sniffing glue

    carney is getting kind of "up your ass, sideways" for someone seeking compromise

    i've often suspected that there are situations where dithering and incompetence could work for good - appears to be textbook example

    they should declare bank holiday for an indeterminant amount of time - it would just be so much fun

    Thu, 07/28/2011 - 13:20 | 1501568 DosZap
    DosZap's picture

    Why are the Gold & Silver prices going down?.(I know it's expiry wk), but with the looming guarantee of a NO DEAL, and a good chance(better n avg ) of a default (at least a partial), they should be going up, or at least steady IMHO.

    Thu, 07/28/2011 - 14:00 | 1501683 1911A1
    1911A1's picture

    There is about a 0% chance of a default.  There are plenty of tax revenues to cover interest expenses.

    Thu, 07/28/2011 - 13:21 | 1501572 Manthong
    Manthong's picture

    Real reform would have funding issues discussed and resolved every two years and only months before November elections. That includes all federal pay and benefits and public entiltlements.  That should keep it close enough to both elections and to April 15 tax time to keep it in the average sheeples mind.

    Thu, 07/28/2011 - 14:00 | 1501687 New American Re...
    New American Revolution's picture

    Your right, a carny as spoke servant of the White House, funny.   Like Bernie Madoff, or sKilling of Enron and the list goes on.   You'd think some of these people might think about changing their name as it seems like names like this are a cosmic tip off.   Osama Obama, what's the difference?   Just say Nobama,...   The New American Revolution is coming my friends, and hopefully, it leaves hell far behind.

    Fri, 07/29/2011 - 03:47 | 1503651 qing
    qing's picture

    removed content (spam)

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