Are people who warn of serious consequences in case of a U.S. default exaggerating? Not according to economist Sergio Sebold, who tells readers of Jornal Do Brazil of the dire consequences which will ensue if America fails to maintain the reliability of the world's sole 'zero-risk asset': U.S. Treasury bonds. For Jornal Do Brazil, economist Sergio Sebold writes in … [Read more...] about American Default and the End of ‘Zero Risk’ (Jornal Do Brasil, Brazil)
Joe Gandelman Will Appear on CNN Panel Tonight
Unless there's some last minute change, Joe Gandelman is slated to appear on CNN tonight at 7 p.m. EST on Don Lemon's independent voter analyst panel which also includes Omar Ali, the historian and independent voting analyst and Nicole Kurokawa, an independent voting analyst in Washington. … [Read more...] about Joe Gandelman Will Appear on CNN Panel Tonight
Cautionary Note: Debt Ceiling Limit Deal is NOT Definite Yet
Several commentators and journalists including Time's Mark Halperin are cautioning speculation on any debt ceiling limit deal. The reason: there is still a good chance GOPers could reject any deal Republican leaders and Barack Obama produce. Remember that some Republicans a)don't want even a shred of compromise b)don't think it'd be a big deal if there is a default. It ain't … [Read more...] about Cautionary Note: Debt Ceiling Limit Deal is NOT Definite Yet
Quote of the Day II: Andrew Sullivan On the (Supposedly) Emerging Budget Deal
Our political Quote of the Day #2 comes from Andrew Sullivan on (guarded) reports about what is a possible debt ceiling limit deal: The good news for the economy: there will be no further debt ceiling moment until after the next election. It's not done till it's done, of course. And the magic moment will be when Boehner tries to sell this to his caucus. But this is a good … [Read more...] about Quote of the Day II: Andrew Sullivan On the (Supposedly) Emerging Budget Deal
What will America look like once we’ve finally escaped the last vestiges of the recession?
Richard Florida attempts to answer this question in The Great Reset: The world is undergoing the largest wave of migration back to cities in history; markets are listening to the needs and wants of Generation Y; and Seattle will become an epicenter of ideas and creative energy. How will new housing products respond to this convergence? In Richard Florida’s book “The … [Read more...] about What will America look like once we’ve finally escaped the last vestiges of the recession?
A Contrarian Case for Government
This of all weekends might not be the time for this, but as George Will piles on with a column arguing that “government and the sectors it dominates have made themselves ludicrous” and “opened minds to the libertarians’ argument,” someone should defend a beleaguered political system that has kept this country the most free and prosperous in the world for centuries. In the … [Read more...] about A Contrarian Case for Government
Iraq’s New Wiretapping System
The “lead” in a Washington Post story this morning reads: The United States is planning to provide the Iraqi government with a wiretapping system to eavesdrop on cellular calls and messages “to assist in combating criminal organizations and insurgencies,” according to a U.S. Air Force contract solicitation. And continues with: The proposed system would allow … [Read more...] about Iraq’s New Wiretapping System
Watch Live Video: Senate Debates Debt Limit Ceiling
Watch the Senate debate the debt limit ceiling live: Visit msnbc.com for breaking news, world news, and news about the economy … [Read more...] about Watch Live Video: Senate Debates Debt Limit Ceiling
Quote of the Day: Bring Back Poppy
Our political Quote of the Day comes from the New York Times' Thomas Friedman who says he misses George H.W. Bush and the "kinder, gentler" brand of Republicanism he represented.. His piece does reflect sentiment I have picked up in the past few months from some who were for a while or long time Republicans and no longer are: Watching today’s Republicans being led around … [Read more...] about Quote of the Day: Bring Back Poppy
Real Leaders Lead In A Crisis; Others Do An Obama
I didn't vote for George Bush in 2000. During his first few months in office I thought he was a joke — a bad joke. After he invaded Iraq and in tandem with a Republican congress pushed the country hard to the right, his policies made me angry. But I have to give the man credit, too. When 9/11 struck and America was in shock, he stepped up big-time. I remember the night … [Read more...] about Real Leaders Lead In A Crisis; Others Do An Obama
News and Blog Roundup: the Debt Limit Ceiling Crisis
Here's a cross section of reporting and blog commentary on the debt limit ceiling crisis, including the latest development: that with time quickly running out before the U.S. slips into a politically-derived default there are reports that a compromise may soon be at hand. --National Journal: Here are the outlines of a debt-ceiling deal that congressional leaders and the … [Read more...] about News and Blog Roundup: the Debt Limit Ceiling Crisis
What Is So Infuriating About This Debt Ceiling Crisis
We may or may not be close to a debt ceiling deal. But the damage has already been done. This crisis was utterly and completely unnecessary. The national debt has been built up over many decades and both parties contributed to it. I won't get involved in the pointless argument over which party is more at fault - Republicans and their constant tax cuts, Medicare Part D and … [Read more...] about What Is So Infuriating About This Debt Ceiling Crisis
iUSA
Well, if we see President Obama sporting a black turtleneck over the weekend, perhaps that will signal the Apple has purchased the U.S. Government. U.S. balance now less than Apple cash Steve Jobs is now more liquid than Uncle Sam [snip] As Republicans and Democrats continue to work towards a compromise to the country’s debt ceiling crisis, the U.S. Treasury … [Read more...] about iUSA
Nervous
This copyrighted cartoon is licensed to run on TMV. Unauthorized reproduction prohibited. … [Read more...] about Nervous
ABC News: Democrats and Republicans Reach Tentative Debt Ceiling Limit Deal (UPDATED)
ABC News is reporting that Congressional sources tell them Democrats and Republicans have now reached a tentative deal on raising the debt ceiling limit -- which is no assurance that it will pass but increases the chances that there will be enough votes to avert what most experts predict would be a catatastrophic debt default that could decimate the American and world … [Read more...] about ABC News: Democrats and Republicans Reach Tentative Debt Ceiling Limit Deal (UPDATED)
Gibberish and Manure
Gibberish and Manure by Will Durst The situation on Capitol Hill has become so confusing we're going to need a nuclear physicist with a googleplex of serially connected molecular microscopes to precisely explain what is happening. Instead, you got me. This whole debt-ceiling debate has made rush-hour gridlock on the 405 look like a romantic excursion in Central Park on a … [Read more...] about Gibberish and Manure
Nostalgia for the Silly Season
This time of year when people are away on vacation has always been known as the silly season for journalists. News is scarce, but time and space still have to be filled between commercials and ads, so they usually give us the odd, the trivial and outlandish. But no two-headed snakes or lions cuddling with lambs are needed this year. The Tea Party is serving up what John … [Read more...] about Nostalgia for the Silly Season
When House Republicans Supported Raising the Debt Ceiling
When House Republicans supported raising the debt ceiling limit: when George W. Bush was President: … [Read more...] about When House Republicans Supported Raising the Debt Ceiling
A swallow tail butterfly beats a DC kabuki dance any day of the week
The 14th Amendment – the option that won’t go away
Obama has said no to the nuclear/14th Amendment option - just ignore the debt ceiling. But what if he doesn't have any choice? It really doesn't matter if it's right or wrong but how the SCOTUS would react. Jeffery Rosen takes a look at just that. The most likely reaction might be to refuse to hear the case deciding that no one had standing. Obama and the country win. … [Read more...] about The 14th Amendment – the option that won’t go away