House won't vote tonight on debt ceiling. Will the Tea Party destroy the Republican Party?

reply to post by jam321

There already going up.

True, for a variety of reasons. Fortunately, we don't need much from Walmart other than food. We can survive if we have to pay a little more for PS3's and wide screen tv's....in fact it will promote them to be made here.

IMO, all nations should be doing whatever they can to protect their manufacturing. China does it, Brazil does, India does it...why aren't we? YOu have to at "least" balance imports so that american made products made by americans can compete.

This is how it used to be not long ago...the world survived. Tariffs used to be where most of the governments revenue came from.

So how far in the red will the DOW be at opening bell tomorrow? I say down 100 at the open and 200 at the close if no progress is made during trading hours.

Come August 2nd, if we default, DOW should be down at least 400 points.

Better get ready to sell your investments.

Originally posted by SeekingAlpha
So how far in the red will the DOW be at opening bell tomorrow? I say down 100 at the open and 200 at the close if no progress is made during trading hours.

Come August 2nd, if we default, DOW should be down at least 400 points.

Better get ready to sell your investments.

Dow futures down about 65 points. Let the stock market crash and crash big time. It has been one big ponzi scheme for awhile now completely controlled. One of the greatest scams over the past 2 1/2 years.

reply to post by SeekingAlpha


Dow futures are currently down 70 points.

www.bloomberg.com...

IMO...it shouldn't be as high as it is anyway...but if it drops significantly people are going to be pointing at the Republican party.

The markets haven't acted like anything bad is going to happen recently anway. yes, it's gone down some lately...but really it's nothing compared to 2 years ago...not even close. most of the ups and downs happening lately are relatively normal.

reply to post by David9176

Is the Republican party beginning to collapse? This is the first time I've seen a break in their unity in a very long time.

I hope so. I hope it is replaced with an official Tea Party.

Despite the rhetoric, this is going to hurt them immensely if they can't even agree on their own bill.....and it's a bad bill anyway.

At least they have a bill. Where's Obama's bill?

Basically, it's cut programs that help struggling americans or employ them, or default on our debt and we're all F'd...all in defense of closing corporate tax loopholes and a decline in any kind of increase for revenue.

Did you get that straight from Nancy Pelosi?

"What we're trying to do is save the world from the Republican budget. We're trying to save life on this planet as we know it today."

Pelosi

They don't seem to care....they are against any kind of compromise....even if it comes to their own party.

No, they are not against compromise.

Obama wants a blank check for $2.4trillion RIGHT NOW in return for his "promise" to cut spending over the next 10 years. Such a deal.

reply to post by David9176

This is how it used to be not long ago...the world survived. Tariffs used to be where most of the governments revenue came from.

You do realize that tariffs work both ways, don't you? Applying tariffs to send our prices skyrocketing is a most foolish idea.:shk:

reply to post by David9176

What I think has happened is that the GOP is already a corpse being animated from within by the entity that has eaten it from the inside out, the Tea Party .

Update : here's the bill they have the votes to pass...

The bill.

I don't know what changed... and I doubt anyone in congress had time to read it to see what are the changes... and they gonna vote on it today...

But it must be quite something since the last bill was about 4 pages... and this one is 104 pages...

This is yet another ``pass it to read it`` bill...

So much for that 3 day before voting on it pledge...

Oh those poor old and sick people.....give me a break. It doesn't matter what programs are cut someone will have a sob story. We need to cut spending on a massive level and close tax loop holes, then we need to create higher tax brackets for the mega wealthy. As far as i'm concerned billionaires should not exist, coming form a 100% capitalist fan.

One can only hope..It would be a day of celebration for many. The collapse of the sold out, fascist infested Republican Party...If you can call it a party,it has become more of an orgie really...

The same EXACT thing can be said for the Democratic Orgie...

The Tea Party is a Faux News production.

reply to post by Fitch303

Oh those poor old and sick people.....give me a break. It doesn't matter what programs are cut someone will have a sob story. We need to cut spending on a massive level and close tax loop holes, then we need to create higher tax brackets for the mega wealthy. As far as i'm concerned billionaires should not exist, coming form a 100% capitalist fan.

It's nothing but another scare tactic. We should be used to them by now. After all...

If Obamacare wasn't passed, there would be people dying in the streets

If the stimulus wasn't passed, unemployment would soar past 8%

If GM and AIG and the banks weren't bailed out, over 2 million jobs would be lost and people would starve

If Geithner wasn't made Treasury Secretary, our economy would collapse, because he was the only person smart enough to fix the problem...

etc etc etc. Yadda yadda yadda.

reply to post by mishigas


yep man raising tariffs will do nothing but take more cash from the slave chinese worker to make up the difference.

reply to post by neo96

yep man raising tariffs will do nothing but take more cash from the slave chinese worker to make up the difference.

....and of course China will retaliate by slapping an Export Tariff on goods shipped to the US....