Why I don't fear default

First of all, I want to be clear that if the U.S. defaults it WILL be catastrophic.
I also don't want to deny that Congress could do something extremely stupid.

Nevertheless, I'm betting that there will not be a default.
Why? Because it will hurt rich people too. Simple as that.
No one wants to hurt the political lobbying class.

13 users have voted.


ggersh's picture

for another round of austerity for the sheep.

Should a default happen it could be the straw that breaks the govt's back


13 users have voted.

I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley

usefewersyllables's picture

whether or not *our* rich people are richer than *their* rich people, doesn't it?

6 users have voted.

Twice bitten, permanently shy.

are the same people. Kevin McCarthy 2023 is just a latecomer Joe Biden 1987. And anyone who voted for a corrupt, senile, warmongering racist pedophile - even to escape Trump - you got what you deserved. Just don't take us down with you next time. And that goes for Trump voters too!

8 users have voted.

On to Biden since 1973

usefewersyllables's picture


that is true, on an international scale. There are some plenty-rich non-US-based oligarchs, and I can well imagine them having more than a bellyful of the US in general.

Given the fact that our ownership/leadership here is in the US demonstrably clinically insane, I can imagine a handful of the Russian/Chinese/Saudi moneypeople getting together and saying "Hey, imagine how much money we could take from those arrogant schmucks if they actually did let that happen!", and taking those actions needed to make sure that it happens, just to watch the US moneypeople take it in the shorts for a change...

They may all get together at the Davos junket and drink the same Cristal, but I doubt that there's much love lost between them.

7 users have voted.

Twice bitten, permanently shy.

@doh1304 everything else you said about Biden is certainly true. Pedophile? I've seen no proof.

There's no "them" and "us" with the 1 percent because they are all international and have no loyalties.
However as long as the dollar is the world's reserve currency they can't tolerate a default.

4 users have voted.

I was referring to his repeated hair sniffing. It might not be pedophilia. He may, for example, be power tripping - acting creepy toward children with their parents on the stage helpless to protect them, just to prove he could do whatever he wanted. He could honestly believe that he was just showing affection.
The arrogance theory is supported by his accusing Trump of bullying the Ukraine to not let Hunter get away with whatever it was he was being paid to arrange for Biden to do, after he had boasted that he had done exactly that. The self delusion theory is a self deluded old man believing years of political image generating. Similarly he might honestly believe that he is defending Social Security from the evil Republicans, conveniently forgetting 50 years of his personal efforts.
I often let my rhetoric go ahead of my logic, you are right to call me on it.

10 users have voted.

On to Biden since 1973

Sima's picture

You are so right!

1 user has voted.

If you're poor now, my friend, then you'll stay poor.
These days, only the rich get given more. -- Martial book 5:81, c. AD 100 or so
Nothing ever changes -- Sima, c. AD 2020 or so