Reports: NO DEAL- US to Plunge Off Fiscal Cliff

*Breaking
Reports indicate that the House will NOT vote on any potential Senate fiscal cliff deal today, which means that the US will be plunging full speed ahead over the fiscal cliff in approximately 7 hours.

fiscal cliff
In other news, the US just officially breached the statutory debt ceiling.
Happy New Year America!

Looks like 2013 will ring in a recession/depression as no deal means taxes would jump by an average of $3,446 for U.S. households in 2013.

*Update: Obama says not so fast, fiscal agreement is still within sight.  (Again, Mr. President, is the House planning on voting on said agreement today?

 

 

Comments

  1. what a farce.you cant make this shit up.And we call these clowns our leaders.The masses deserve everything they get.

  2. The fall’s not bad, it’s the sudden stop at the end that hurts.

    • Hey Ugly, You right about that. Reminds me of the story where the ole boy fell off the top of a 40 story building. Folks on each floor could hear him yelling on the way down, “So Far so Good, So Far so Good!”
      OREO just doesn’t get it for the right move, he just continues to destroy our country. Never heard of a Black man that had a big cjeck book in his hand running any institution that cared what the balance is. 18% Congressional approval? What a friiggin’ joke! For my own thoughts I have become a political atheist. One way to stop this crap is a complete Tax Revolt. It’s unbelievable that we are at war with Muslims and we elect a Muslim commander in chief. Notice commander in chief is not capitalized, because he really ain’t!!
       
       
       

    • ranger,  I agree completely, but what do the color of his parents have to do with it? His political views and aspirations were enough for me. 
      Maybe im dumb…   I figured id ask so that you could educate me.   cheers.  

    • Yeah, U-Dog, you’re right.  My least favorite part of the ride is the splat-crunch on impact.
       

  3. Well at least he’s not using a Prompter. Lol
    Also just bought me a Glock 36 today nice little beauty.

  4. Get on down with your own bad self Charlie. We’ll have to start calling you M36. LOL!

  5. What fiscal cliff?  Haven’t we been falling off the cliff for years?  What was a debt deal going to do for us anyway?  Oh, they will come up with something.  Postponing the inevitable is what they do best.  Not to worry.  They will figure out a way to raise the debt ceiling another 1.2 trillion.  They will post pone some of the tax increases.  They will increase spending.  We will never pay a single dime of the money that our nation(us), we the people, owe to other nations.  We are an immoral nation.  Corrupt.  Users.  Eventually other nations will figure it out that we want their money and we do not repay our loans.  We have no intention of ever repaying our loans.  I am ashamed to be an American.  Why don’t I just leave then?  I have left.  And, I do not intend to ever return.  America makes me sick.  If Americans had to pay for the folly of our government they would take to the streets.  The government refuses austerity but is happy to ask us, the citizens to bear the brunt of their ineptitude.  I will celebrate if they refuse to increase the debt ceiling.  It is time for the Republicans to grow a set.  Down with our corrupt government.

    • Pollokeeper,
      Don’t ever be not be proud to be an American. Don’t ever give up being a good decent American, never abandon our great ideals that made this country.I can empathize how you feel and we need you to gather your strength and fight for the good Americans, and Yes we out number the evil and bad so called Americans. We are not a minority. We are letting 435 assholes govern us and we can take them down!
       

    • Right now I am angry.  I will get my sanity back after a suitable cooling off period.

    • @Pollokeeper … ‘falling’ far longer than most realize … since 1913. And, if we want to drill down to ‘bedrock’, we’ve been ‘falling’ since they abandoned silver in, what was it, 1873? If these idiotic politicians and bankers keep stealing bricks away from the monetary foundation, thinking their lovely paper facade can stay standing, they don’t know the first thing about … structural integrity.

    • Right on, Ranger!  I LOVE my country but the 536 a-holes-in-charge suck monkey bung.  It is their typical gutless crap that pisses me totally off.  It is why I say, “Throw the SOBs out EVERY chance we get.  NO EXCEPTIONS.  EVER.
       

  6. Is this the best government that America can muster?
     
    Quote from a poster at Market-Ticker:  Nickdanger said: We really are a nation of idiots.
    “Twenty-one of 22 incumbent senators were re-elected, and 353 of 373 incumbent members of the House were re-elected. The American people have re-elected 94 percent of the incumbents who were running for re-election to an institution that has an approval rating of about 9 percent. This indicates, as an electorate, we are a nation of idiots. We’re now stuck with the useless, dysfunctional government that we deserve.”
     
    What else is there to say?

    • @Mammoth … that’s an illusion. The reality is that politics is totally rigged from the local and county level right up to the oval office. What the hell do you think ‘voting machines’ are all about? Like Lenin said, votes don’t count, the counters do.

    • Much of this stems from our inattention to the US Constitution and the Bill of Rights.  The Founding Fathers in general and Thomas Jefferson, one of if not THE most brilliant men ever thought that voting should be reserved to those whose efforts actually supported the nation.  They never envisioned that the professional bums in our society should EVER have a say in how it is run.  But they do and what we are getting now is a direct result of pandering to the non-productive at the expense of the productive.
       
      “”The democracy will cease to exist when you take away from those who are willing to work, and give to those who will not.” – Thomas Jefferson

  7. Wooo-Hooo!!!  This is exciting!  Glad I have a “precious” parachute. 
    .
    Now on to more important topics… protecting second amendment rights.
    Sinclair posted a nice article by a Russian.
    Americans never give up your guns
    28.12.2012
    By Stanislav Mishin
    These days, there are few few things to admire about the socialist, bankrupt and culturally degenerating USA, but at least so far, one thing remains: the right to bare arms and use deadly force to defend one’s self and possessions.

  8. 10-4 on that M45.LOL! Really LOL!

  9. Glock 36  nano blaster.  Deep concealment. I’m so jealous.
    Now quit talking about guns. My wife put me on gun and knife restrict. Bummer. Got too many I guess. She’s crazy but I love her anyways
    Happy New Year to the crazy loopy fun SD gang
    I’m renaming our 3 cats Ferbus, Edo and Sigma in honor of the 3 Bernanke Fed computer modeling programs used to predict fiscal policies. They’re called deeply flawed.
    Our cats eat, sleep, poop, shed fur, gack up hairballs and play. That’s it. They’re cute. I wish the Fed was so benign.

    • Have to include car pictures!
       
      Let it fall off the cliff, this country needs a restart with flushing the turds out of DC.

  10. Colt 45 National Match can stop just stop just about anything, including my 44 S&W Mag.

    • Any shooter using any caliber is at a disadvantage going against someone that has killed before. It is much harder hitting a live target that is shooting back than a stationary target. The problem here is you don’t get the experience until it comes down to it. Many think they have it in them, but I propose that most will not be as effective as they think they will. Most Humans think they have it figured out and can cope in these situations, but they are, for the most part, disillusioned. Bring a Vietnam Vet, I have heard many stories from the battlefield that proves this correct. I didn’t get to go to battle, being female, but heard stories from many men that did, and they were trained for it. There were expert marksmen that froze in battle and were killed. Best to avoid the situation and only resort to violence if cornered and having no other choice, even then your chances are not that good going against someone that has already killed someone. Happy New Year.

    • That’s quite deep,
      but it’s funny, because a Vietnam vet I know who is the most soft-spoken, easy going guy you could think of, very non-militaristic, enlisted only because he figured he’d get drafted and figured it was smarter to enlist and do a few years than be drafted and stuck there for 5 years, emptied his mags and lobbed grenade after grenade in Vietnam. He just let them fly hoping they’d hit something!
      And then you get those WWII guys who never fired their rifle once. So it’s true what you say.
      But then again, today’s generation has grown up seeing very realistic gore playing call of duty and GTA, they watch tons of violent movies and fill their ears with gansta rap and Satanic hard music that makes hippies look like angels (to think hippies were once seen as dark rebels!!!), as well as 24/7 coverage of war on tv and the web, and I dare say that today’s generation will make very effective killers. They know nothing of shinning boots, mopping floors, getting tired and sweaty doing drill and standing at attention, know nothing about having to do the same memorandum 5 times because the Sergeant or WO found fault with it and it couldn’t be presented to the officer up the chain of command, never had to deal with waiting over an hour for a hair cut at the base barber shop because there was a parade the next day and everyone showed up at once to get a parade trim, never had to show newbie officers around, slowing down one’s job while they learned your trade for a day, no inspections, no sleep dep (apart from staying up too late at a sleep over playing call of duty eating cheesies and pretending to be a great commando on their XBOX 360 Live).. etc. etc. … they’ve been taught to kill but have been taught no discipline.

  11. We all know that the deal will be sealed on the 2cnd, right? We’ll go off the cliff, then, like Wile E. Coyote, they’ll move the ground so we don’t ever hit it. We’ll all just keep falling foreverrrrrrrrrrrr..
     
    Keep stacking gold, silver, brass and lead, my friends. It looks like we are entering the end game.

  12.  

    324 Years Of The Gold-To-Silver Ratio And $195 Silver

     

    Since 1687, the gold-to-silver ratio has ranged from 14.14 to 99.76 (see chart below). Over this period, the average gold-to-silver ratio was 27.28 and today (March 8, 2012) the gold-to-silver ratio is 50.09.
    If silver were to rise to bring the gold-to-silver ratio back to its long-term average, the silver price must rise to $61/oz. (Of course, gold  prices could also fall to lower the ratio. But let’s assume gold is priced at fair value.)
    If the ratio were to return to the pre-1900 average of 16.13, the silver price would have to rise to about $105/oz.

  13. I wish all the posters here a safe, Happy New Year!  Lots of great comments in this segment.  I, too, am a proud American.  I’ve lived long enough to realize that what is happening now is just what we have allowed to happen by our INATTENTION to the political process.  Granted, those that have their hands out have made a difference in re-electing the Kenyan, but lets face it, they are (so far) in the minority.  We just have to do better in 2014 replacing these assholes (I can’t be kind here). 

  14. Business as usual.  There will be a deal in the next couple of days that will be retroactive to Jan 1st.  And to no one’s surprise spending won’t be addressed.  Wake me when something unexpected happens.

  15. Looks like gold did not wait until midnight. It went over its own fiscal cliff at 6pm this evening. Check out the Kitco chart.
    The cartel will  permit no joy for stackers for the rest of this year. The cruelest cut of all.  Happy New Year.

    • @JOHN IN PHILADELPHIA … that all depends on your point of view. A ‘stacker’ (saver) ought to be thrilled that metals can be had for fewer ‘labor certificates’.
       
      But, a ‘trader’ who’s constantly looking to ‘profit’ by those stamps, would certainly be disheartened.
       
      Hey, we should hook-up for a couple brandies at City Tavern some time to while away a couple hours in random chatter. If you can take the time, message me. I’m in Philly too.

  16. We all pretty much know the outcome.  We can safely extrapolate out 4 years.  1.2 trillion times 4 will be the net addition to the national debt by the time Obama’s term is finished.  That is a debt of over 20 trillion not even counting unfunded liability’s which my brain cannot wrap around.  I do not believe that our nation will make it that far.  However, if Japan is any example at all, we will make it with flying colors.  No biggy.  Lets don’t underestimate our nations ability to kick the can down the road.  Keep stackin..

  17. Only in criminal government accounting does 1.3 – 1.8 trillion (no one knows for sure) in over spending to be considered a spending cut! We have not had an official budget in 4 years (as constitutionally required). Obama and crew wanted to spend 2 trillion more than the slaves could cough up but only spent 1.8 trillion. That’s a cut of 200 billion in Washington fuzzy math!

  18. Making it a retrospective deal will make the sheeple even more thankful of their tax cut to infinity. Yeah, also flat wages for 10 years, infinite debt ceiling, infinite printing, that’ll work out just fine.
    Nice drama, but the cliff is not NOW. Life support is still plugged in.

  19. As I’d said elsewhere on this topic …
     
    Rather than the default presumption of viewing this quandary in terms of the status-quo, let’s ‘get out of the box’ and imagine a solution that has absolutely nothing whatever to do with the monetary scheme causing all the problems at their core!

    An economy is (ideally and naturally) an ever self-tuning matrix of inter-related value ratios determined at any time or place, by supply-demand conditions of all the elements within the matrix. The false interjection of paper ‘money’ is what throws this entire system into convulsions of dis-equilibrium that radiate and reverberate until the whole becomes so unstable that it disintegrates.

    The fundamental problem isn’t with politicians, or bankers, or even the monopoly industrialists they’re ‘in bed’ with. It’s the stupid Plantation Scrip excuse for a monetary scheme they try to rig their game of plunder with.

  20. Don’t believe the hype. The only cliff was the made up one by the media. They can just make it up as they go along. Buy your gold, silver and hide it away. Next step will be taxes and more taxes. Someone’s got to it the shit pie and it sure ain’t going to be the people who created it. So Mr and Mrs America, take a great big bite and think how your doing such a great thing for your country. Ask not what your country can do for you, just eat the shit, it tastes like moms apple pie, honest. You know your economy is fucked when they start debasing nickels into iron. Will this sudden increase in payments by the public make a difference? Heck no, the Fed is the loan shark of last resort, they want as much debt as possible tied to fake valuations of assets, apart from rival monetary systems not attached to the law of usury.

  21. Did I hear someone mention tax revolt.? The elephant in every room of this color I visit.
    deserving a forum all for itself, my opinion only. I have learned much from all of you over the past 6 months, enjoyed the bantering, find myself wondering if any of you get together for a drink now and then, lol. FYI no, I’m not a spy but just a newby in PM’s, jumped in with both feet and happily still up even tho PM market is down. Happy New Year to you all, let’s hang on tight.

  22. S&P, Fitch and Moodys have all threatened ratings downgrade. Unless some major accomplishments occur very soon, it could be two notches to Aa- or A with a negative outlook. The equities would get hit badly. Gold and silver could see nice increases due to capital flight to quality assets.
     Poor sovereign debt ratings means majority of MMA and investor funds in US and Europe would not be allowed to invest in that low a rating.  Bond funds would liquidate in mass due to requirements of their bond quality ratings in the incorporation charter. 
    It could be messy. It’s not like we’re France, Italy, or other countries with similar problems  and who lost their AAA.  We are the uber currency that most seek as safe harbor and a bastion of safe debt.  It’s not like these funds have good alternates for their excess funds.

  23. Regardless of all the bluff, bluster, B$, and hype flying around us, I offer no comments on politics at all.  Instead, I offer a shout-out to the many who sacrificed their blood and lives to try to make this great country secure and safe from those who would tear it down for no reason other than it is better than what they have.
     
    To those of my great grand parents generation who fought bravely in Cuba in 1898:

    To those of my grand parents generation who fought bravely in World War I in 1918 and lived through the Great Depression:

    To those of my parents generation who grew up in bad times and fought bravely in World War II and Korea:

    To my older brother, an Army helo pilot who won a silver star in Nam, evac’ing 11 wounded Marines, his helo shot up so badly they had to junk it:

    To my son and his buddies who trained in 1993-97, served in Guantanamo Bay and on Okinawa, but (thank God) never had to fight:

    To all those who served, Happy New Year and may you and your families enjoy the blessings of love, peace, and prosperity in 2013.

    To all who frequent this board and post, blessings to you as well, my PM stacking brothers and sisters, best wishes for a safe, healthy, happy, and prosperous new year!
     
     
     

  24. like evil knieval every act gets just a little wilder a little riskier a few more body parts broken … but eventually they are going to take a jump they cant get up from

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