Writing for the Washington Post Ezra Klein makes some interesting points about why US Treasuries have not suffered, even as Republicans claim that interest rates are ready to hyperinflate.
In my opinion I think Republicans are trying to purposely cause another financial meltdown. They are talking about shutting down the government and not raising the debt ceiling. They are saying that only then will the American people and Democrats realize that they are right and everyone else is cuckoo.
If the debt ceiling is not raised and the government is shut down, then the resulting rise in interest rates, job losses, and pissed off voters will make 2008 look like a blip. It will be the Great Depression II, however Republicans seem to be willing to go there, why?
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