The debt ceiling is being used a negotiating tool in American politics yet again. My concern with American politics is that most things seem to be over-dramatised, while some disturbing things are shoved under the carpet. The debt ceiling is a great source of hysterics from south of the border. My highly non-informed take is that this debt ceiling drama will end in the usual way, going to the 11th hour before some kind of deal is struck.
American politics is kabuki. Externally, the drama is veneer over the bipartisan money/power grab. Internally, the only matter in contention is how the loot is divided. Behind the scenes it runs on legalized corruption and burying the bodies.
However, there is some genuine drama going on now. Both parties are trying to destroy the other in a zero-sum game in which the winner takes all.
Bond EconomicsThe Return Of The Debt Ceiling (Again)
Brian Romanchuk
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