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View Diary: Sunday Talk: Yeah, that's the ticket (157 comments)

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  •  The Shut Down is a domestic clusterfuck. (1+ / 0-)
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    Trix

    The Debt Limit has monumental international repercussions.

    As long as there is still money on the table and American workers to asset strip, there will be no default. A default would cause the dollar to crash and the last remaining wealth of the middle class would be worthless in the global marketplace. Can't have that.

    Plus, the US government has no assets of its own, or sovereign funds like other nations do. (The good stuff, like oil, is privatized.) It just has debt. Defaults bring the repo man. Just like the World Bank used to do to South America.


    [ O Recommend O Hide  O Bitch and moan at the Help Desk ]

    by Pluto on Sat Oct 12, 2013 at 11:07:57 PM PDT

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