So here we are over a week into the Government Shutdown. From where I sit, it sure looks like the Republicans are being more like RepubliCANTs, completely unwilling to negotiate in a world where negotiation doesn’t mean “give us everything we want.” Not that the DemocRATS are angels here, please understand. Right now nobody likes Congress very much. Individual states like Nevada are chewing their collective fingernails (and probably, secretly, making contingency plans).
It’s gotten to the point where the markets are accounting for the fact that next week, the Government may well stop paying interest on the National Debt. That’s what the debt ceiling means in real life. If our nation stops paying the bills, it’s reasonable for holders of our debt to decide it’s not worth as much, and might even be worthless. Everybody always thought “oh that would never happen, it would be too catastrophic!” Now our [Republican] elected officials are falling over themselves to say it wouldn’t be that bad. “Oh jinkies, it might be a good thing!” Oh yeah? Tell that to China. Turns out they are our biggest foreign creditor.
Looking for a silver lining? At least big corporate mergers that enrich hedge fund managers and executives at the expense of employees and consumers may have to slow down a tweak.
Let’s hope enough moderate Republicans decide they don’t want to preside over our nation going into default.
In Closing: Securing the internet from the NSA; Student loans a drag on housing; Lief Erickson; USMC reading list; Jimmy Carter on the Middle Class; keeping a schedule on a crappy job; if part time employment spiked prior to Obamacare, how did Obamacare cause it?; pay no attention to the next trade pact that’s not going to be good for American workers.