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Fiscal Cliff

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Garpal Gumnut

Garpal Gumnut

Ross Island Hotel
Joined
2 January 2006
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The US is still quite stuffed economically.

The agreement reached is just a mirage.

I thought the best assessment was from Steve LaTourette of Ohio.

Steve LaTourette, a retiring GOP Representative from Ohio, dismissed the Senators who’d passed the bill as “sleep-deprived octogenarians.”
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Anyone who bets the bank on a resurgence of world economic confidence on an Aged Care Facility decision made at 3am, after a game of Hoy, is in for a shock.

Oh, and then there is Europe.

And the Saudis are next for a bit of fundamentalist Muslim cold steel.

gg
 
Another good thread gg.

Lost for words at the moment.

1966 rounds are getting scarce, glad I got mine early.:)
 
A bit late there GG, should be Debt Ceiling Cliff now?? Can we have a Debt Ceiling Cliff countdown clock - only 8 weeks to go. Only 8 weeks of will they or won't they & blame shifting all the while the debt balloon inflates ever so larger....austerity will be hard for Americans when the (forced by the market) time comes?
 
explod said:
Another good thread gg.

Lost for words at the moment.

1966 rounds are getting scarce, glad I got mine early.:)
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I only have around 50:( Hopefully there is plenty left at the local bullion dealer when they re-open.

Uncle Festivus said:
A bit late there GG, should be Debt Ceiling Cliff now?? Can we have a Debt Ceiling Cliff countdown clock - only 8 weeks to go. Only 8 weeks of will they or won't they & blame shifting all the while the debt balloon inflates ever so larger....austerity will be hard for Americans when the (forced by the market) time comes?
Click to expand...

I can't handle anymore of this BS coming out of the states. I can't wait for all this to come to an end so hopefully normality can eventually be restored and a more stable system in place.
 
Uncle Festivus said:
A bit late there GG, should be Debt Ceiling Cliff now?? Can we have a Debt Ceiling Cliff countdown clock - only 8 weeks to go. Only 8 weeks of will they or won't they & blame shifting all the while the debt balloon inflates ever so larger....austerity will be hard for Americans when the (forced by the market) time comes?
Click to expand...

But, there will be another 11th hour agreement by another Super-duper Committee to reconvene in a further 2 months, and so on ad-nauseum for years....

With each bi-monthly Committee "agreement to solve the problem", the shock market will soar. Who cares if nothing is fixed. "Market sentiment" rulez, right?

Trillionaires, place your bets......
 
Garpal Gumnut said:
The US is still quite stuffed economically.

The agreement reached is just a mirage.

I thought the best assessment was from Steve LaTourette of Ohio.



Anyone who bets the bank on a resurgence of world economic confidence on an Aged Care Facility decision made at 3am, after a game of Hoy, is in for a shock.

Oh, and then there is Europe.

And the Saudis are next for a bit of fundamentalist Muslim cold steel.

gg
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GG, I must take issue. We the cognisenti of ASF have diligently refrained for years from opening a thread with the *gasp* unmentionable term "F$$$$$ C$$$" therein.

Everyone was happy, with heads buried comfortably neath the sands of time. No unmentionable to bother us at all.

But now, you have unleashed the Unmentionable from it's stupor.

We shall all be poorer for it....

Slavishly yours,

aj
 
explod said:
Another good thread gg.

Lost for words at the moment.

1966 rounds are getting scarce, glad I got mine early.:)
Click to expand...

P-29533_1.jpg

Uncle Festivus said:
A bit late there GG, should be Debt Ceiling Cliff now?? Can we have a Debt Ceiling Cliff countdown clock - only 8 weeks to go. Only 8 weeks of will they or won't they & blame shifting all the while the debt balloon inflates ever so larger....austerity will be hard for Americans when the (forced by the market) time comes?
Click to expand...

+1 Uncle +1

young-gun said:
I only have around 50:( Hopefully there is plenty left at the local bullion dealer when they re-open.



I can't handle anymore of this BS coming out of the states. I can't wait for all this to come to an end so hopefully normality can eventually be restored and a more stable system in place.
Click to expand...

+1

Aussiejeff said:
But, there will be another 11th hour agreement by another Super-duper Committee to reconvene in a further 2 months, and so on ad-nauseum for years....

With each bi-monthly Committee "agreement to solve the problem", the shock market will soar. Who cares if nothing is fixed. "Market sentiment" rulez, right?

Trillionaires, place your bets......
Click to expand...

+1

Aussiejeff said:
GG, I must take issue. We the cognisenti of ASF have diligently refrained for years from opening a thread with the *gasp* unmentionable term "F$$$$$ C$$$" therein.

Everyone was happy, with heads buried comfortably neath the sands of time. No unmentionable to bother us at all.

But now, you have unleashed the Unmentionable from it's stupor.

We shall all be poorer for it....

Slavishly yours,

aj
Click to expand...

I would much prefer a good on catastrophic plunge in everything, no bailouts and then a new start.

This constipation needs a good cleanout.

gg
 
Dan Norcini, a Chicago pit trader is starting see see red. His opening statement yesterday.


Thursday, January 3, 2013
Commodity Index Back to Where it Started the Year
Don't you just love the Fed? Are you not glad they provide such a calming, soothing, effect on our finanical markets? Are you not glad they are there to provide balance to the unruly animal spirits that send prices careening wildy in one direction or the other?

The above questions are obviously meant to be highly sarcastic, filled with a strong measure of contempt and disgust towards these pestilential meddlers.

I submit that the Federal Reserve is the source of the all the wild volatility and the cause of these nearly incessant mad buying and selling binges that have left the general public suspect of the US stock market and opting against investing in it.

The Fed simply cannot keep its mitts off of the market as it announces one thing or another, resulting in panic buying and panic selling by traders/investors as they seek to protect themselves from adverse price movements based on the whims of a few unelected bureaucrats who supposedly have our best interests at heart.

In my opinion, what we are witnessing has nothing to do with FREE MARKET CAPITALISM and everything to do with taming markets that have the audacity to go in a different direction than that which is desired by our Central Planners.

I have been opposed to this idiocy known as QE ever since the word found its way into our modern vernacular for the one reason that it is nothing but a device employed by a privileged few to oppose the market forces that are necessary, nay, essential, to clearing excesses built up in an economy (which by the way were created by the same Central Bank interest rate policies in the first place).

The Fed blows the bubbles and then spends the rest of its time trying to deal with the fallout from its own stupidly shortsighted policies.

In so doing, it is constantly interfering in the process that the economy must go through in order to wring out excess or malinvestment and provide some stability and normalization.






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explod said:
Dan Norcini, a Chicago pit trader is starting see see red. His opening statement yesterday.
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Agree totally explod.

It all comes down to governance.

The US is basically led by a Social Worker.

I have mates who are black who I would consider most unfit for POFUS.
I have mates who are social workers I would consider most unfit for POFUS.
I have mates who are Professors and I wouldn't send them down to the corner shop to buy me a packet of fags.

This guy is not up to it.

In retrospect Hillary Clinton who I met briefly in Little Rock in 1970 or 71, can't remember, was tired but not emotional, would have been a better President.

Her mistake was that she had one root with the greatest shyster in US political history.

It will all pan out with time.

gg
 
Garpal Gumnut said:
The US is basically led by a Social Worker.
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True, could said of a lot of places though. Politics and Cooperate governance have gone down the same route. Let's be popular/make money now. We won't be held responsible for any repercussions so why bother making the hard decisions.

Why make tough decisions and deficit cuts and have everyone complain when you can just print money. Unfortunately the general populous falls into one of the categories of [don't care, this doesn't affect me, does not understand the implication, hey great; JH set me a check] and they get away with it.

Also there may not be any easy viable solution. What most people fail to realise is that we have probably seen the greatest amount of everything in the history of humanity in the last generation or two. For the first time in history, population pyramids are reversing. A lot of economic models start going out the window....

This is not an excuse for poor governance, just saying.


Garpal Gumnut said:
I have mates who are Professors and I wouldn't send them down to the corner shop to buy me a packet of fags.

gg
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I should take offence but this is probably true....
 
You've obviously not been reading Gottliebsen.

He's quite shrilly proclaiming the shale gas revolution will empower US industree and manuacfturers with cheap energy. Gosh they might even start exporting it to Asia as a real kick in the guts.

Considering their Government spends it's days and nights herding cats, I just find it a tad hard to believe.

I Know, nevger quite count out the Yankees, but considering they can't even agree what colour the sky is....

Similar to the 40 yr old virgin who grew up in some little house in Texas
 
sydboy007 said:
You've obviously not been reading Gottliebsen.

He's quite shrilly proclaiming the shale gas revolution will empower US industree and manuacfturers with cheap energy. Gosh they might even start exporting it to Asia as a real kick in the guts.

Considering their Government spends it's days and nights herding cats, I just find it a tad hard to believe.

I Know, nevger quite count out the Yankees, but considering they can't even agree what colour the sky is....

Similar to the 40 yr old virgin who grew up in some little house in Texas
Click to expand...

Hahaha, I read a lot of things....doesn't mean I have to believe it.

Having said that, the US is putting A LOT of resources behind shale gas/oil. My brother works in the industry and he was telling me that most of these were not existent pre-GFC and have come up in 5-7 years. Whether it for economic reasons or just political ones (ie middle east, south American countries refusing to export oil) remains to be seen.

What might be worrying is that they may never turn of the tap.....QE3, QE4.....QEX
 
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