Ed is repeating his conviction that we will go into default.
His argument is that the Thugs have shown nothing anyone can trust to do anything else.
This is correct. The morons in the House will burn down the world if they can.
But Ed is still wrong. We won't go into default. And it has nothing to do about trusting GOP Thugs.
It's simple: GOP Congress Critters are not their own masters. They are owned.
And we can trust the Korporate Master to do what they always do: protect their money.
It is NOT TRUE that the wealthy can comfortably ride out a default while the poor suffer. The entire global wealth system would be severely undermined by a US Govt. default.
That's why the Koch idiots backed off. They'd lose hugely. A congressman on MSNBC last night said the Koch brothers have 500 traders making money everyday on the markets.
The Korporate Masters will not tolerate a default.
They directly own most GOP members. These guys are simply looking for reassurances that they won't be primaried and abandoned. They are and will be getting those reassurances.
And even the lunatic Tea-Morons are ultimately owned. They didn't get there on their own. Eventually, their Masters will tell them to stand down.
And then there is the matter of the polls. Suddenly, a TP primary is less scary than facing the MS voters.
They cannot default. They have never been in a position to default, however much they want to. They are not their own masters.
The government shutdown is another matter. The Masters are less inclined to care about that.
But, the political and economic realities of the shutdown are, I think, getting through to the KMs. They do not want to go into the holidays with a dead economy. There's too much money to be lost.
A deal will be made.
What sort of deal? That's another question.
The good news is that our roll-over DEMS are finding out what a strong hand they carry. They are in position to win the brinksmanship contest.
But will they hold their nerve? Will Obama be able to hold out against a lifelong habit of appeasing? They've folded winning hands so many times!
And how long will it take? The GOP keeps stalling and hoping for a bone. The longer it goes on, the deeper the economic hole.
Usually, DC goes to the deadline and makes a deal in the final moments.
But doing that in this case does damage it will be tough to recover from.
So, in the meantime, we hold our breath.
Ed did make one scary point. He said the morons would hold things up to the last minute ... and then human error would see us over the edge of the cliff. A scary thought.
But I take refuge in the stock market which is up again today. Those guys know what's going to happen long before we do. The fix is in.
The question is whether DEMs toss in more than they need to. And Wall Street owns most of the DEMs as well!