- Joined
- Oct 19, 2012
- Messages
- 12,029
- Reaction score
- 3,530
- Gender
- Male
- Political Leaning
- Progressive
1. Come October 17, the radical conservatives in the House will not raise the debt ceiling, causing a default on US government obligations, the first time in history. This is in fact what the tea party cabal wants to happen, so no compromise is possible, and the craven GOP leadership doesn't have the courage to stand up them. Their irrational hatred of the federal government, along with their moral nihilism recklessly impels them forward in a scorched earth policy.
2. The economic impact is certain: T-bill yields will skyrocket, causing massive new debt; the housing market recovery will collapse as the Fed will not be able to sustain low interest rates; perhaps a million American will lose their jobs; a recession will follow; there will likely be civil unrest. Again, since this will mostly affect working Americans, this is what the tea party cabal wants.
3. What happens next politically is less certain. I suspect there will be attempt to recall tea party representatives and fellow travelers from semi-rational districts, though that is unchartered territory. If we're lucky, recall and special elections will be organized within a short time, perhaps two months, they will survive judicial scrutiny, and enough tea partiers will be discharged to reestablish a functioning government. Then the tea party nightmare will finally be over.
You heard it here first.
2. The economic impact is certain: T-bill yields will skyrocket, causing massive new debt; the housing market recovery will collapse as the Fed will not be able to sustain low interest rates; perhaps a million American will lose their jobs; a recession will follow; there will likely be civil unrest. Again, since this will mostly affect working Americans, this is what the tea party cabal wants.
3. What happens next politically is less certain. I suspect there will be attempt to recall tea party representatives and fellow travelers from semi-rational districts, though that is unchartered territory. If we're lucky, recall and special elections will be organized within a short time, perhaps two months, they will survive judicial scrutiny, and enough tea partiers will be discharged to reestablish a functioning government. Then the tea party nightmare will finally be over.
You heard it here first.