The damage is already done.

[Plaid Adder]

I mean, not that more damage can't be done. Certainly it's better for everyone involved (except these Tea Party idiots, but anyway) if we can avoid defaulting. My personal hope is that the Aug 2 deadline is fake and that in fact if we pass it it will turn out that we have another couple weeks before the shit really hits the fan. And that would be fun, because then we'd all know which Congressional persons were willing to push the button and unleash financial armageddon, but it won't have actually happened.

It could happen.

But anyway, my point is: Apart from, you know, making payroll, the main thing this thing is about is making sure we can continue paying our debts. Because once you become a credit risk, nobody wants to lend you money any more.

Whether we raise the debt ceiling before Aug 2 or not, I think the circus up on Capitol Hill has pretty much convinced many of our international creditors that their money is not safe with us.

Well, that's gonna keep me up tonight.

The Plaid Adder

[FSogol]

1. Yup, China is now in charge of the World's economy. Way to go Tea baggers. n/t

[closeupready]

2. yes, that's an astute observation.

We borderline won't pay our bills. What more needs to be said.

[geckosfeet]

3. You and many many US citizens and international investors. is the Plaid Adder back?

[BeyondGeography]

4. You're right, but I'd try to sleep anyway

It's healthier, and we'll all need to be healthier.