iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,840 Blog Posts

The Republican Party is Dead

Which is why futures are sharply lower this morning.

In light of Virginia ousting the republican “leader”, Eric Cantor, with someone who’d like to convert America into a theocracy, smart people are betting that this is bad news for the GOP. See, there are two types of GOPers. There’s the guy with the American flag, ignorant as hell, shotgun in tow, screaming about illegal Mexicans, terrorists, and how the fucking Christmas tree should be considered a holy symbol. Then there’s the guy at the golf course, checkered pants, cigar in tow, interested in tax cuts, loose regulations and a strong military.

The problem with the GOP is that both of these guys hate each other. The party should split, one could name themselves “The Confederate Tea Party” and the other keep the name “Republican.” Either way, a two party system is certainly better than a one party system, which is what we’re heading for soon–should the GOP continue the path they’re on.

In other news, ANGI caught an upgrade this morning, as well as AAPL and AMZN. A slew of biotech stocks are up and SYNA is doing it big.

Bottom line: Our corporate tax rate is an absolute disgrace. It’s too high and just about everyone I know, both GOP and democrat, agree that it should be competitive with other first world nations. The loss of Cantor in a primary spells doom for the GOPers, as they shift right and away from winning national elections. While many backwater confederate states might want a theocracy, electing men who romanticize over WW2 and bygone eras, the majority of the country just wants to work and live happily ever after. The economy desperately needs some checkered pants republicans to seize control of the party and get these tax rates down. However, as of now, it looks like you’ll be hearing a lot more about Christmas trees and gay marriages instead.

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30 comments

  1. Bernard Cornfeld
    Bernard Cornfeld

    Go team Hillary!

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  2. Mike

    ANGI is my bitch!! Back to the high seas with my BALT. Teabaggers will ruin this country.

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  3. lplongo

    I would really like to see 3 strong parties instead of 2. It will force politicians to up their game in order to earn votes. There is too much of a how to get elected formula with 2 parties.

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    • Dr. Fly

      I’d like to see a dictatorship, whereby both GOP and Democrats would be sent to the gallows for swift execution for treason. Then, I’d like to see a new democracy born.

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      • UncleBuccs

        That would work for me…

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      • helicopter ben

        The way voting works now makes the Fly’s dictatorship idea a more viable way to change the current system.

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  4. matt_bear

    that is definitely a problem. Republican is a 2 party system in and of itself.

    nice win with ANGI. I wonder if it coincides with all the commerical tv time they’ve had recently. I’ve seen at least 3 a day this month.

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  5. budh

    They swapped out a political hack for an economic professor. Good trade, imo.

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    • FXTRADEX6

      Depends on which school of economic thought he comes from. If austerity is his answer, even after all the proof that Europe has provided that it’s a dismal failure, then we’re doomed.

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  6. bluestar

    Respectfully disagree: Market is down because DeMarks indicators and cycles are topping. No idea the degree of decline but its just time for a pull back soon. News flow has zero to do with it.

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    • Dr. Fly

      Bluestar

      I’ve been hearing that for 5 years. I will believe we are topping when I see it

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      • bluestar

        I said nothing about topping or The Top. just a Correction. Could be 1% or 10%. But its due. Thats all. The set up for The Top has disappeared but we are due for a correction. How the market handles the rally out of the correction is key.

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        • Noni Kavuri

          Bluestar,

          Nasdaq just went through a ~8% correction from 3/5-4/11. I do think this fall will be volatile as the Fed continues to taper QE 3. As long as interest rates are this low, I see no reason but to be long. Look forward to your thoughts.

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          • bluestar

            I am looking for a correction soon. 6%-12%. Then I think we rally from there. However, There is a chance we just melt up. Price is increasingly disconnecting from fundamentals. I am mostly cash waiting.

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  7. TJWP

    How will these checkered pants republicans lower taxes when they need that money to bomb the rest of the world?

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    • TJWP

      Or fund rebellions in Syria, or arm militants… etc

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    • Dr. Fly

      Checkered pants republicans do not fancy wars.

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      • TJWP

        Sounds a bit like UFOs, everyone claims they exist but no one has actually ever seen one.

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    • Raise taxes, lower spending
      Raise taxes, lower spending

      By driving the deficit through the roof, just like Reagan and the two Bush’s.

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  8. bluestar

    Both parties are absolutely corrupt. I was a democrat when I was young and a republican as I had to pay taxes. Now I am nothing. DC is mostly a cesspool with a smattering of some decent people.

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  9. steel_man

    DeMark hasn’t been right about anything in 3 years

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    • bluestar

      Why then does he work exclusively for the biggest hedge funds?

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  10. Freebie

    Demark had some nice calls in the past but look at his public calls the last few years. Not even close.

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    • bluestar

      Public calls bad. I agree. I never said he was making a call now did I?

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  11. Freebie

    Demark called for a crash in mid October 2013 and early feb 2014. Now look at a 1 year spy chart those were the two biggest bottoms on the last year.

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  12. the pirate

    Does anybody here ever think beyond the next 5 fukin minutes and think of what’s best for the country? Put another way, ya cocksuckers, what good is your ‘portfolio’ if the country is sold down the river, the Constitution annihilated and your rights gone? Pls let’s try to see the BIG picture here.

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    • bluestar

      The disconnect between the stock market and reality has never been more stark. Our leaders lie to us while the tin foil hat folks predictions are coming true one by one.

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  13. Quality Control Inferno
    Quality Control Inferno

    You should stick to trading. Your assessment of the political landscape isn’t very good.

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  14. Dr Fly

    Oh yeah, the GOP is doing great.

    Asshat

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    • Quality Control Inferno
      Quality Control Inferno

      I’m not much of a fan of either party. I do think the GOP will win the November elections handily though.

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