Full Faith And Credit

Full Faith And Credit

Markets were pleased to learn that US lawmakers haven't yet crossed into whatever circle of hell it is where politicians deliberately trigger a global financial meltdown out of childlike spite for one another. Somehow, "dodging a bullet" seems inadequate as a metaphor for averting a technical US default. The fact that neither side had any real demands -- it was a standoff for the sheer hell of it -- might itself be cause for a sovereign downgrade were it not for the dollar's reserve status. Th
Subscribe or log in to read the rest of this content.

8 thoughts on “Full Faith And Credit

    1. Referring to the chatter that Mitchis unsure that he can deliver the 10-12 GOP votes needed to pass the extension.

      Probably a negotiating gambit by Mitch which he will use to try and wrangle concessions from Shumer.

      Pelosi poking the bear didn’t help much.

  1. If it weren’t for Manchin and Sinema, we wouldn’t be here (with Democrats like those two, who needs Republicans?). The filibuster would have been done away with (along with the debt ceiling) and the Democrats would have passed legislation beneficial to the lower and middle classes. Most Democrats do believe government can play a constructive role!

  2. The bad faith causing so much governmental dysfunction is much more obvious and widespread in Republican public figures than in Democrat public figures. Assigning blame equally misrepresents the actual state of affairs and pushes any resolution further into the future.

    1. Yeah, but try telling that to scores of regular readers, some of whom are of the “casual,” passersby variety, and see what kind of emails you get. 🙂

      Just kidding. But not really. I mean, the key is not to alienate an entire subset of readers “just because.” If some readers feel alienated by the truth, then it’s incumbent upon them to acknowledge reality. But when it comes to daily coverage of something like the debt ceiling, for example, I’ve learned over the years that there’s no utility in adopting a deliberately abrasive cadence just for the sake of being abrasive, especially when the overarching point (i.e., your point) is implicit in so much of what I write anyway.

  3. Dodged a bullet? More like they decided not to set off the suitcase nuke they were holding a giant room full of people hostage with.

    “That, apparently, is the “business of the people.” Vacationing, leveraging one’s position in government for personal monetary gain and stoking division on Twitter.” – This is exactly why H.R. 1 (For the people act) needed to be passed. The Federal government is an easily corruptible group of disinterested kleptocrats.

    “It’s the same thing with security. If you’re Europe, it’s not that you necessarily trust America to defend you anymore. It’s that there isn’t an obvious alternative to the current system of explicit and implicit military guarantees.” – The U.S. continues to never have a problem finding or spending money when it comes to defense. Neither side will say “hey, did you know the other side is spending 780 Billion dollars on the military this year??”. And since we continue to be shadow imperialists with our bases everywhere in the world, is there really another game in town to compete with us? The military presence we’ve been able to establish since WW2 is probably the reason why we still hold the reserve currency.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints