Welcome to the Great American Soap Opera. Of course they will raise the debt ceiling, they have no choice other than admitting that the credit-based consumer-driven “fiat-moneyed economy based on fractional reserve banking” (Not my woding,but I’ll go with it for expediency here) is both corrupt and ineffective and, more importantly, lose a lot of wealth through the chaos that would result world-wide if they just let the whole deal free-fall—kind of like what we’re seeing in Greece and the Arab World, only more wide-spread and in more important places (to US). Since nobody at the wheel in DC is actually discussing alternative systems, like going back to the Austrian School, they will extend at the last minute and continue to limp along under the constant interminable threat of default until it is resolved through a significant war and the even more profitable massive rebuilding process after the war (Yea! JOBS!), or, in other words, until enough wealth has been churned to make it safe to hand the empire over to the next political inheritor—safe for the extremely wealthy (who have demonstrated time and time again that they have no political loyalties) and with the least threat of anarchy among the cloying masses. By whatever means necessary.
What we are seeing, in this “recession,” is nothing more than a reset, like that of the 1930s, a kind of Jubileum (See your O.T.) for the global oligarchy—only with a better braking mechanism (overnight central bank and federal reserve manipulation of the markets ensuring a disaster i slow-mo and draw in more suckers with false highs to buy more worthless paper) and invisible bread lines (food stamps) to prevent panic and unrest among the unwashed. When the books once again show a healthy banking system (for it is only the books that count, not the reality) we will start all over again, buying back, with interest, the wealth we have lost from the banks we saved from default with our treasuries, our taxes. (The same banks which take tens of thousands of homes from Americans through foreclosure every month).
This latest Opera Bouffe is, in part, to determine the resolve of the tax-revolting political-activists—once very useful, but now in the face of expediency, just one huge pain in the ass. The question is Will these people be dangerous to both parties in future elections, or can they be brought under control through duress and blackmail like all the fools before them? Oooh, stay tuned. Will they default? Or will they raise the debt ceiling like the Republicans did (many of whom are the same faces sitting now at the table of the President) to the tune of $4 trillion the last time we saw this cheap Saturday afternoon cliffhanger?
Kee-rist, an idiot could write this script.