Don’t Bet Against Crazy

Reuters reports, today, that bondholders and creditors are not worried about the United States defaulting on its credit obligations. It’s not that such a default is really no big deal, and creditors are perfectly willing to wait a few days before payments are made on the interest to US debt. No. The source of their comfort is that a US default would be so globally catastrophic that the United States would never allow such a thing to happen.

Really?

That’s what you’re going with?

Your thesis is that the Tea Party isn’t crazy enough to tank the economy of the entire world to satisfy their mindless ideological dogma.

Yeah.

Good luck with that!

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