Saturday, July 2, 2011
The Debt Ceiling
I emailed a few friends back when the Republicans won the House that the debt ceiling wouldn't get raised and the US would default. The view comes from knowing that the modern Republican Party wants to remake the United States in the image of a modern plantation, I mean, have you been to a small town in the U.S. recently ? A few wealthy fucks, empty storefronts and the big box out by the freeway hiring a lot of broken down people with bad teeth. This is not the stuff of empires because the intellectual and educational base won't be there, and the word is out on the U.S in Asia - that it's not the place of the future. So forget importing intellectual capital over even the medium term. I can't see how the current international order keeps going, and indeed, a default by the U.S. would probably be the historical marker for its collapse.