"Tea Party GOP Drives US Towards Catastrophic Default, World Panic", page 1

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Topic started on 23-7-2011 @ 08:18 AM by inforeal

tarpley.net...

tarpley.net...

Press TV: If we look at this in context of tough economic times, can it be argued these negative sentiments are natural in such trying times?

Tarpley: Well, the negativity is fully justified. We are in a world economic depression as in the 1930s, it comes in waves. We had the first wave in 2008 were the bankruptcy of Bear Stearns [Companies], Lehman Brothers [Holdings] and really all of Wall Street. We are no going through the second wave of the depression, on the one side, the European debt and banking crises, or the euro crises, but that is now joined by these really unnecessary crises around the dollar and the US public debt. We have a mass of fanatics inside the Republican Party; this is known as Tea Party [movement]. These are reactionaries. They are founded by extreme right-wing business men, like the Koch brothers [of Koch Industries], they want the United States to go bankrupt, they want the US to default because they figured that if the United States can no longer borrow, they would be able to destroy the social safety net that we have had left over from the new deal, that is to say Medicare, Medicaid, social security and so forth.

Since they can't get that done by legal means, they are trying to go outside of the government and the constitution to force the bankruptcy of the country, thinking that in that case there won't be any money for these programs.

Unfortunately, Obama has not put up a good front against them; he has gratuitously said that he wants to sacrifice parts of Medicare, Medicaid, and social security. That was the surprised announcement that he made at the middle of last week.

Right now though Wall Street is making its voice heard. If the Unites States defaults all central bank reserves in the world will be radically devalued, there will be a world panic, a catastrophe.

Press TV: Some economists say that neither party would let the US default, and that they are simply playing politics. Do you agree?

Tarpley: Normally that would be true, but we know have a group of true ideological fanatics, the Tea Party. They believe in the Austrian school, and the Chicago school. They believe they you can have market without a government. They are neo-feudalist, right-wing anarchist - whatever you want- they believe that.

Now, the leaders of the Republican Party are getting calls from Wall Street right now saying that either you raise the debt ceiling, and preserve some kind of stability, or you are maybe sleeping with the fishes or a cement overcoat, that's the level that it has come to. The problem is that there are 70 or 80 or 90 Republicans in the house who are impervious to all kind of reason discourse. They are getting threats, they may come around as a result of the threats, but the situation is now on the brink, it would never be this way if you never had these fanatics who are essentially beyond all reason.

www.presstv.ir...

People don’t realize the utter recklessness and ignorance of this creature called the Tea Party . . . who are in the process of blackmailing the weak willed president Barack Obama over the debt limit. Obama has yielded to the blackmail by playing their game and negotiating with them as they hold the US credit as a hostage to their ignorant, obsessive, and dogmatic recklessness.

Indeed those in the Tea party from presidential candidate Michelle Bachman, to the Senate leader Jim DeMint claim that a US default won’t be that bad!

Here is Michelle Bachman in a state of denial:

“The nation can meet its obligations without taking action to increase debt, the Minnesota Republican insisted, despite warnings from Treasury Secretary Timothy Geithner, who has said lawmakers must reach a deal on increasing the debt limit by July 22 and raise the debt ceiling by August 2.”

www.thestatecolumn.com...

Even though a unanimous chorus of economists, from all sides of the political spectrum claim otherwise, and state that a US default will be devastating.

“The reason is simple: A government default would destroy the credit system as we know it. The fundamental benchmark interest rates in modern financial markets are the so-called risk-free rates on government bonds. Removing this pillar of the system—or creating a high degree of risk around U.S. Treasurys—would disrupt many private contracts and all kinds of transactions. In addition, many people and firms hold their rainy day money in the form of U.S. Treasurys. The money-market funds that are perceived to be the safest, for example, are those that hold only U.S. government debt. If the U.S. government defaults, all of them will "break the buck," meaning they will be unable to maintain the principal value of the money that has been placed with them.”

www.slate.com...

The fact of the Tea Parties lack of understanding the folly of their ways is demonstrative of their colossal ignorance, and their stubbornness to accept reality is an example of their own adherence to dogma, similar to religious fanatics, that veils any reason from entering their minds.

So it seems that the Tea party, another sinister creation from the PTB--in order to aid and assist in their power grabs-- have created another situation of:

The chickens coming home to roost!

reply posted on 23-7-2011 @ 08:30 AM by beezzer

reply to post by inforeal

*yawn*
Blaming the Tea Party for the financial mess we're in is about as effective as blaming the fork and spoon for a lousy meal.

It's pathetic, seeing the left run around placing blame for Obama's over-spending and poor mis-management of the economy on everyone BUT the person responsible.

I personally hope we do "default". Giving Obama a higher debt ceiling is like raising the D.U.I. limit to curb drunk driving.

reply posted on 23-7-2011 @ 08:31 AM by Skewed

The tea party people are doing exactly what they said they would do during their campaigns. I also support us not raising the debt ceiling, we have exceeded our means and we need to step back to the baseline. We have displaced the balance of things and tipped the scales.

But at the end of the day, if the solution does not include shutting down the federal reserve, nothing will work.

edit on 23-7-2011 by Skewed because: (no reason given)

reply posted on 23-7-2011 @ 08:32 AM by civilchallenger

reply to post by inforeal

The point of the Tea Party is to reduce government spending. Therefore the title of this posting suggests that a reduction of government spending would "Drive the US towards catastrophic default". Its such a laughable joke. No, the tea party people have a little thing called common sense. Common sense is that the US is on a path to catastrophic default right now and that because of that, we have to stop raising the debt limit.

The blaming of the Tea Party on this is simple proof that people are complete suckers and Democracy is failing because complete idiots with zero understanding of reality are in charge. The collective of intelligence in the US is supposed to be something bordering at least mild intelligence but it obviously isn't.

Simple common sense is gone entirely. Common sense being that if you're heading towards bankruptcy borrowing even more money isn't going to help you out. I mean I have to say that? LOL

edit on 23-7-2011 by civilchallenger because: (no reason given)

reply posted on 23-7-2011 @ 08:35 AM by sonofliberty1776

Hey man, put down the kool aid and take a step back. We cannot just raise the debt limit. We must cut spending or it will destroy this country. That is what TPTB really want. The Constitution stands in the way of their NWO. They badly want to enslave every single one of us. They have combined the methods of both Huxley and Orwell and the coming fascist superstate will be the worst thing that has ever happened to the people of this world. The guide stones in Georgia tell us what this state has planned after they achieve power, it is codified in agenda 21. Wake up man. Increasing the debt limit again will economically enslave our children, their children, and their children's children in a financial morass from which they will never escape. We must bear the burden of tough times now to ensure freedom for our progeny.

reply posted on 23-7-2011 @ 08:39 AM by inforeal

None of the posts above understand that the Tea Party is a corporate shill; it is not even a legitimate movement. You should try reading what Tarpley says about who invented them—right-wing PTB.

Also, they are threatening to bring down the economic system because of their adherence to no taxes for the rich, they don’t really care about the deficit. If they had they would have made a deal with Obama.

The only good that can come from a default is that people finally will see the Tea party and their Republican conservative matrix for what they truly are.

reply posted on 23-7-2011 @ 08:42 AM by GeorgiaGirl

Originally posted by civilchallenger
reply to post by inforeal

The point of the Tea Party is to reduce government spending. Therefore the title of this posting suggests that a reduction of government spending would "Drive the US towards catastrophic default". Its such a laughable joke. No, the tea party people have a little thing called common sense. Common sense is that the US is on a path to catastrophic default right now and that because of that, we have to stop raising the debt limit.

The blaming of the Tea Party on this is simple proof that people are complete idiots and Democracy is failing because complete idiots with zero understanding of reality are in charge. The collective of intelligence in the US is supposed to be something bordering at least mild intelligence but it obviously isn't.

Simple common sense is gone entirely. Common sense being that if you're heading towards bankruptcy borrowing even more money isn't going to help you out. I mean I have to say that? LOL

Well said!

I've been to several Tea Party Tax Day Rallies. The people at these events are grass-roots Americans. About as dangerous as your Grandma.... For anyone to say that this group of Americans has a nefarious plot to destroy America is hilarious. The Tea Party is made up of citizens who LOVE America. Also, we're not embarrassed to be American (feeling like we need to apologize to the world like he-who-shall-remain-nameless). Warts and all, we love America and want to make sure that we preserve our country for our coming generations.

reply posted on 23-7-2011 @ 08:43 AM by crimvelvet

reply to post by inforeal

Get real

This is just more BANKSTER bull turds. Their mouth piece is trying to scare people.

Let us look at Iceland:
Here is an article from another BANKSTER mouth piece:

Iceland is all but officially bankrupt
Thursday, October 9, 2008

REYKJAVIK — People go bankrupt all the time. Companies do, too. But countries?

Iceland was on the verge of doing exactly that on Thursday as the government shut down the stock market and seized control of its last major independent bank. That brought trading in the country's currency to a halt, with foreign banks no longer willing to take Icelandic krona, even at fire-sale rates.

As the meltdown in the Icelandic financial system quickened, with the government seemingly powerless to do anything about it, analysts said there was probably only one realistic option left: for Iceland to be bailed out by the International Monetary Fund.

"Iceland is bankrupt," said Arsaell Valfells, a professor at the University of Iceland. "The Icelandic krona is history. The IMF has to come and rescue us."....

www.nytimes.com...

Luckily for Iceland they did not fall for the crap.
If I recall Iceland told the bankers and the IMF where to stick it... without vaseline.

Now it is two years later.

Iceland Bankruptcy-to-Rebound Reveals Models Ireland Won't Take
By Kati Pohjanpalo and Omar R. Valdimarsson - Dec 2, 2010 10:59 AM ET

Iceland is betting its decision two years ago to force bondholders to pay for the banking system’s collapse may help it rebound faster than Ireland.

Iceland’s taxpayers face a smaller debt burden than their Irish counterparts, where the government’s guarantee of the financial system in 2008 backfired this year when the banks came close to insolvency. Iceland’s budget deficit will be 6.3 percent of gross domestic product this year and will vanish by 2012, compared with the 32 percent shortfall in Ireland, the European Commission estimates.

While analysts expect Iceland’s recession to extend into next year, the nation’s exporters are benefiting from a 28 percent drop in the krona against the dollar since September 2008. The decline may help the nation of 320,000 people rebalance its economy faster than Ireland, whose euro membership rules out a currency devaluation. With Iceland’s OMX share index up 17 percent this year, the third-biggest gain in Europe after Denmark and Sweden, Nobel Prize-winning economist Paul Krugman says Iceland may be an example of “bankrupting yourself to recovery.”

“The difference is that in Iceland we allowed the banks to fail,” Iceland President Olafur R. Grimsson said in a Nov. 26 interview with Bloomberg Television’s Mark Barton. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”

www.bloomberg.com...

Seems the TOO BIG TO FAIL BAILOUTS were the USA's biggest mistake....

edit on 23-7-2011 by crimvelvet because: correct spelling

reply posted on 23-7-2011 @ 08:49 AM by rebeldog

1. Cut every single program that sends any money or aid to foreign nations!!
2. Do not send one dime to Africa, Israel, Haiti, etc...
3. Bring every foreign stationed troop home within 30 days. Shut down all foreign bases, plastic the furniture, drain water lines, lock them down and 'winterize' them.
4. Cut every form of 'entitlement' to anyone who can't verify a 3 generation lineage in america (bye, bye, anchor baby mama welfare)
5. Cancel all immigrant worker visa programs, give them all 30 days to go whence they came
6. shut down ALL FORMS of immigration. there are enough americans out of work to do every job available!!
7. reduce all the slime in DC to $50,000 a year salaries with strict expense accounting
8. PUT EVERY CEO on wall street in jail awaiting trial, every SEC supervisor too.
9. prosecute the cases Eliot Spitzer compiled (before he was destroyed by hookergate)

these above should be tried before anything else

reply posted on 23-7-2011 @ 08:49 AM by GeorgiaGirl

Originally posted by inforeal
None of the posts above understand that the Tea Party is a corporate shill; it is not even a legitimate movement. You should try reading what Tarpley says about who invented them—right-wing PTB.

Also, they are threatening to bring down the economic system because of their adherence to no taxes for the rich, they don’t really care about the deficit. If they had they would have made a deal with Obama.

The only good that can come from a default is that people finally will see the Tea party and their Republican conservative matrix for what they truly are.

You have no idea what you are talking about. The Tea Party agenda has nothing to do with "no taxes for the rich". That's absurd. I'd sum up the agenda as more like "stop spending so much money and then trying to fix it by raising taxes". or "stop mortgaging our nation's future by spending us into bankruptcy".

reply posted on 23-7-2011 @ 08:50 AM by Skewed

reply to post by inforeal

Ahh, now I see.

You must be one that depends on the government to cook your food, hold your hand, make sure it is safe to cross the road, and probably many other things. There is a group of people, the Tea Party, that wants to break loose of being taken care of as the government is doing way too many things that they should not be doing. Only for the sole purpose to cater to the corporate fascists that are well on their way of literally controlling our lives.

I am perfectly capable of taking care of and protecting myself and the Tea Party agrees and we do not depend upon the system.

edit on 23-7-2011 by Skewed because: (no reason given)

reply posted on 23-7-2011 @ 08:51 AM by crimvelvet

reply to post by inforeal

.....People don’t realize the utter recklessness and ignorance of this creature called the Tea Party . . . who are in the process of blackmailing the weak willed president Barack Obama over the debt limit......

Just out of curiosity which bank do you work for?

That is the only reason I can think of for some one who is an ATSer to be so ill informed.

Taxes?

TAX IMPORTS NOT WAGES!

Tax on imports = excise tax, see graph:

Look at the chart to see how we have been shafted!

edit on 23-7-2011 by crimvelvet because: added banner and explanation

reply posted on 23-7-2011 @ 08:59 AM by Oldtimer2

It certainly doesn't take a genius to figure out if your broke,beinjg even worse off isn't an option,I'm old I feel sorry for my kids they will be stuck with this till who knows when,Yes tea party members deal with reality,typical liberal to complain they didn't get their government cheese

reply posted on 23-7-2011 @ 09:08 AM by civilchallenger

reply to post by inforeal

Here is an advertisement for the very first Tea Party event:

YouTube Link

Here is a Youtube of the second Tea Party event:

YouTube Link

The present-day Tea Party is mostly main-stream Republicans but there are quite a lot of Ron Paul Republicans in the mix due to the fact he is the inspiration for the tea party. Its interesting how one of the people in the second tea party video: Rand Paul, went on to become a US state senator.

By and large the Tea Party movement can be defined by free-market economics and Austrian economics. So if you are going to say their policies are bad for the American economy, then list off all your alleged flaws of free-market economics and Austrian economics. As far as I'm concerned, the economics knowledge of the Tea Party is unsurpassed in terms of collective economics intelligence. So no, I don't blame them for any negative US economic issues up to and including a debt default.

reply posted on 23-7-2011 @ 09:14 AM by crimvelvet

reply to post by inforeal

So it seems that the Tea party, another sinister creation from the PTB...

So what is Obama, an Angel from Heaven come to save us all????

Within the first part of his Admin the Fed more than doubled the money supply effectively STEALING half the wealth of every single person in this nation!

Here is the chart of money supply/gold/wage showing the theft of our wealth.
Date.....$ /oz gold.. Money supply......minimum wage...min wage in gold..CEO pay in gold
1971 ......40.62.............. 81 billion...........$1.60 ...................0.0394 oz. (I started work)
1994 .....409.80........... $ 406 billion.......$4.25.....................0.0104.oz. (Clinton/WTO)
2006 .....636.30 ...........$808 billion........$5.15.....................0.0081 oz.
2008 .....880.30........... $831 billion........$5.85.....................0.0066 oz.............2.44.oz
2009...1,020.28...........$1663 billion........$6.55.....................0.0064.oz.

In this fashion the FED stole 96% of the value of a dollar. Think nickel loaf of bread/cola.

In 1976 A typical American CEO earned 36 times as much as the average worker. By 2008 the average CEO pay increased to 369 times that of the average worker. timelines.ws...

Barack Obama has reshuffled his staff, bringing in a trio of free trade advocates...

And to top it off, General Electric CEO Jeffery Immelt was tapped to lead a newly created Council on Jobs and Competitiveness....

Immelt, who will now have the president’s ear in an advisory role, has consistently supported the same failed trade policies that have cost America millions of jobs. As the leader of one of the world’s largest companies, he has been at the forefront of the outsourcing movement.

“You would have difficulty finding a company that has outsourced more jobs and closed more American factories than GE,” Scott Paul, Executive Director of the Alliance for American Manufacturing writes. “While they have slashed their American workforce to fewer than 150,000, GE has dramatically expanded its global presence, now employing over 300,000 workers worldwide.”

In the past, Immelt was a vocal supporter for China’s entry into the World Trade Organization. He also spoke out against the proposed “buy American” provision.

Immelt, Daley and Sperling certainly do not represent the “change” the president was fond of referring to in 2008. In fact, all three represent more of the same - failed trade policies that result in the loss of millions of jobs.

www.economyincrisis.org...

TAX IMPORTS NOT WAGES!

Tax on imports = excise tax, see graph:

reply posted on 23-7-2011 @ 09:15 AM by inforeal

Read this quote from Webster Tarpley and understand the truth about the Tea party:

"These are reactionaries. They are founded by extreme right-wing business men, like the Koch brothers [of Koch Industries], they want the United States to go bankrupt, they want the US to default because they figured that if the United States can no longer borrow, they would be able to destroy the social safety net that we have had left over from the new deal, that is to say Medicare, Medicaid, social security and so forth. "

It’s very simple. The rich right wingers, like the Koch brothers, created the Tea party in order to deceive people in this (deficit is bad scam) that includes a philosophy of (no new taxes). If you have been following the situation regarding the negotiations with Obama, something I don’t think is the case, you would have seen that the stumbling block is not the deficit but taxes for the rich.

Unfortunately, people are being deceived. The right-wing backers and founders of the Tea party are NOT INTERESTED IN THE BUDGET DEFICIT; they are interested in some loud troops (LIKE TEA PARTIERS) in order to advance their agenda of NO TAXES FOR THE RICH. . . .AND . . . The other agenda is about making the budget so slim that there is no more room for Medicare, Medicaid and social security. But that’s the secondary agenda; the primary reason for its existence is to save the rich from taxes they should be paying.

reply posted on 23-7-2011 @ 09:16 AM by yourmamaknows

reply to post by sonofliberty1776

Hard to put down the Kool aide in this heat.

There were hold outs against PNAC. How were they convinced? Something happened to scare them.

Will something happen? Maybe a "flash crash".
It's possible.

reply posted on 23-7-2011 @ 09:17 AM by inforeal

reply to post by crimvelvet

If you have read any of my threads, then you would have known I denounce Obama more than I even denounce the Tea party!

I believe that Obama is a puppet and slave of the Bankster NWO agenda.

edit on 23-7-2011 by inforeal because: (no reason given)

reply posted on 23-7-2011 @ 09:18 AM by WhoKnows100

OP, the fact that you are still arguing Party political vomit shows that you either want
1) to keep the sheeple blind or
2) you haven't figured out the real reason behind world events

reply posted on 23-7-2011 @ 09:34 AM by crimvelvet

reply to post by civilchallenger

As far as I'm concerned, the economics knowledge of the Tea Party is unsurpassed in terms of collective economics intelligence. So no, I don't blame them for any negative US economic issues up to and including a debt default.

Even a Rockefeller funded think tank agrees with that, despite their obvious democratic party bias.

Her analysis of poll results shows that while Tea Party members are politically sophisticated and vote at high rates, they are also fiscally and socially more conservative than other Republicans...
newswire.uark.edu...

This poll with its very slanted questions is where the accusation of the Tea Party as "Racist" comes from.

Analysis of the bias with the actual questions asked HERE

and HERE

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