Originally Posted by DurangoSteve
I absolutely disagree with this point. The only people who don't care about default are Michele Bachmann and her teabrained minions. NOBODY with an actual brain wants default. It would send the global economy over the cliff.
I can't see Congress pulling its collective head out of its collective asshole on this one. The President will invoke the 14th Amendment, Boehner will jabber some pandering Tea Bagger bullshit, and McConnell will shake his jowls and feign a stroke. Mostly they'll act like they had NOTHING to do with the deficit/debt situation.
Bachman is a loon, her opinions beyond worthless...
I really don't think many corporations mainly the banks care about a default. When we have banks that have their lobbyists, ex employees, etc.. sitting in the Federal Reserve, Treasury, and State Dept, they are in the loop. This debt ceiling should not be news to anyone, this mess could have been seen from as early as late 2008 when the economy tanked. We had a faltering/failing economy and continued to throw money at wars, drone attacks, etc, reaching the arbitrary debt ceiling should be no surprise to everyone. You and I are responsible for our own finances, when times are rough I dont continue to buy boating gear, sushi, and primo bourbon, I buckle down and cut spending.
My point is that these banks that run our government knew this was coming (an idiot could have seen this coming), they are already planning for it. I am sure through some crazy scheme that banks will profit from this. The same banks that got bailed out in 2008/2009 are just as powerful now, but they had the added advantage that they have had 2-3 years to prepare for this. Our banks write fiscal policy in this country, they will come out from a default ahead.
If avoiding a default was a major priority for our politicians this would have been seriously addressed a year ago, not the past year of a dog and pony show, now it's a 3 ring circus. This crisis is being played for all it's worth in the political realm. My disgust is that a default should not be so jaded by partisan bickering, a default affects the life of 99% of ALL US citizens, regardless of their political affiliation, wealth, race, etc...
When the US defaults who will be left as strong companies? My guesses are:
Think Tanks (lobbying/PAC groups)
Scams like foreclosure avoidance and credit fixing companies (banks)
Meanwhile the American citizen will be left with less money to eat, recreate, and spend on discretionary items. Because the citizens will be more stressed and pissed at being even poorer, they will have less time to look at who seems to be profiting. Soon the ideals of 'corporate personhood' will seem like paradise compared to what is to come.
So, Steve, you may be right that many don't want this to happen, but many are planning on it and have already made preparations to really twist it to their advantage. In 5 days when the US has been downgraded the Media will explode with (R) v (D) blame game, and how the other party ruined our nation. Guess what? Each one of those politicians will still be getting a salary, health care, pension, etc.... They are largely immunized from financial strife as they are taken care of for life. Other than votes they have little real reason to care.
I say politicians should get paid on a sliding scale based on our economic health...Every good job I have had my pay was based in part on performance and productivity. Currently I know many people (myself included) working several jobs, and scraping by. This is not the case with those in power, they don't understand the fear of loosing a house, paying bills, etc.... Until they understand those things their voting will not reflect the true feelings of the people.
Big business will capitalize on the default and become more powerful.