Thursday, February 17, 2011

Reading the Tea Leaves

The Tea Party is toast. That's my prediction. What a huge laugh. The oligarchs pulling their strings convinced them "big government" is the problem, so they bought that line and are now intent on bringing "big government" down. And they'll be given a great opportunity very soon, when it's necessary to raise the limit on the national debt.

Right now the Republicans are engaged in a slash and burn attempt to drastically cut any program they can think of. To the bone. But they won't get very far, because any such cuts will be voted down in the Senate and, if necessary, vetoed by the President. But they have an Ace up their sleeve -- so they think. If the Democrats won't cooperate, they'll make sure the debt limit isn't raised, which does require Republican votes -- lots of them. And if the debt limit isn't raised, why, it will be the end of civilization as we know it. Which is fine with them. Also fine with me, by the way.

Unfortunately for our eager beaver Tea Partiers, it will NOT be fine with the oligarchs whose big money got them to Congress in the first place. Because if the natinal debt limit isn't raised, the USA will go into default and if the USA defaults, then a whole lot of very wealthy people will be in danger of losing a whole lot of their wealth. Think military-industrial complex, think Big Oil, think of all the Pharmaceutical companies tied to Medicare and Medicaid, think of all the fat cats playhing it safe with huge investments in government bonds. Think also of what will happen to the almighty Dow -- a US default will shred investor confidence and the market will drop to the floor -- think financial China Syndrome. Think also of what will happen to the dollar when the Renminbi takes over as the international currency of choice. As the dollar tanks, so will the wealth of all those wealthy puppet masters.

So. No WAY are the puppet masters going to allow their puppets to force "big government" into a great big huge default. Their dirty little secret is that they need big government. But they need it to do THEIR bidding, not the bidding of US citizens. Which is why they invented the Tea Party in the first place. But the Tea Partyers have gotten drunk on the illusion of power. They actually think THEY are running things -- but they are not. So there is no WAY the debt limit will not be raised.

Very very amusing, yes. Oh what fun. Only one thing I worry about, and that's not the Republicans, but the Democrats. Because these people have turned into such total wimps, what could happen is that they could let themselves be bluffed into going along with the Republican slash and burn fiasco, for fear the threats to force us into default are real. What Democrats need to understand, and what Obama needs to understand, is that this is a huge bluff -- a game of chicken. No WAY will the puppet masters allow their puppets to force us into default, and them along with us. If the Democrats hold firm, the Tea Party will be toast. And Obama will be a shoo-in for re-election, even if he is only able to raise a measly half  billion.

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