I, for one, am rooting for a debt ceiling impasse and seeing what happens on June 1. There's no way the government even knows how much it owes, let alone the budgets of all the many different departments, many of which are off-book.
A default will end with more audits. In an obviously opaque system like we have, that would be a very good thing.
What are the odds on that you reckon? 10% chance? Higher?
It also ends with thousands of people in the coast guard not getting paid even though they work 12+ hour shifts saving the lives of people in distress.
There has to be a better way to reign in spending than putting the politicians failures on the backs of already stressed and hard working Americans.
It would be a good thing but I don’t think it will happen. I think we are headed into another boom bust cycle: the debt ceiling will be raised (after much drama and cross-party negotiations), the fed will eventually (Q3/4-ish) pivot, assets will go through the roof (along with inflation), pointless companies will receive insane valuations and everyone will feel “rich” again. But I think it will be short lived, the cycles will be shorter and shorter and more extreme on either side, there won’t be another 10+ years of cheap capital. The question is how long can these games continue before imploding?
They will absolutely vote to raise the debt ceiling. There will be hemming and hawing but it's all just theater for them.
I think Ron Paul said that they will always pass the debt ceiling bills.
And Ron Paul was right. He had an insiders view and he told everyone that. Still no change. It's almost like that's the plan.
Obama once said referring to raising the debt ceiling, That's how budgeting is done.
And sure it is, when you have access to magic money printing, and you're ready to kill people that won't take it .
one small part of this i dont like as it feels as if it translates kinda like asking for more regulators for banks
Closet accelerationist.
I’m on to you.
