Oh good. I am relieved. I feel better. How lovely.
There's an interesting possibility, even a likelihood, we may see unfold over the coming days. And if it happens, we might find out quickly whether there's a limit past which consensus opinion, the Wall Street/business interests who hold such a sway over national politics and even elements within the GOP will not indulge this mania.
Oh good. Josh M, who has a history PhD, remember, reminds us (link in the quoted para above):
As we move closer to intentionally jettisoning the full faith and credit of the United States and eyeing the pulse of the bond market, we shouldn't forget one salient fact. The centrality of debt holders in our constitutional order isn't a bug, it's a feature. Indeed, the national debt -- created through the federal assumption of state war debts -- was created to do precisely this: get the holders of bonds, necessarily wealthy and powerful people, to have a vested interest in the fixity and stability of the federal government.
But what if the wealthy and powerful have lost their marbles sufficiently as to have no clue as to anything other than short-term gains?
What if an ideological obsession with the basic illegitimacy of government on the part of financial elites and their paid-for politicians runs roughshod over quaint concepts like "the full faith and credit of the United States"?
Wall Street let the cats out of the bag long ago. Maybe now the cats have come home to fuck them.
Maybe hoping "greed will save us" was always a load of shit.