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>If there is any danger here, it is that the forthcoming debate in Washington over the debt ceiling somehow results in a US default This, I do not understand w
by jmclnx 4y ago
>If there is any danger here, it is that the forthcoming debate in Washington over the debt ceiling somehow results in a US default
This, I do not understand why the GOP goes nuts over the debt limit. If they blow it this year, inflation worries we have now will seem quaint.
If China was not gaming their currency and had a real open economy, that would be a possible alternative. But with Xi in power, it will never happen. EUR should have been in a position to ascend, but Greece, Spain, Italy, Ireland and later on UK stopped that in its tracks. No trust there with the Euro right now.
- zamnos 4y agoSeeing as how the debt ceiling is only a problem for the GOP when they're not in power should tell you all you need as to why the debt ceiling is an "issue".
- HyperSane 4y agoThe GOP may try to bluff about not raising the debt limit to try to get what they want but I believe the rich people who really run the country understand just how bad not raising the debt limit would be and won't let it happen.
- mindslight 4y agoThe "debt ceiling" meme ties into the GOP's kayfabe of "fiscal responsibility" where they stop the government from using money for deliberate purposes, while giving trillions of undirected dollars to Wall Street in the form of low interest loans and other "quantitative easing". One of the reasons they continue to get away with this is that it takes a long time for the results of economic policies to become apparent - witness the overarching narrative pinning the past spate of price inflation on the current administration, when it was actually the delayed effect of all the inappropriate "stimulus" during Covid.