I mean, isn't it exactly the time to bring up GOP obstruction? The Debt Ceiling Increase has already been obstructed... and so now Yellen is using all her accounting tricks to give the US a couple of more months, but the US Government has already spent that money, they've got until June to pay up and if the Debt Ceiling isn't increased by then - global chaos.
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How is this relevant to the SVB insolvency?
These are two totally disconnected events and bringing them up together like they are one and the same shows an obvious bias and agenda that can't be trusted by definition. The debt ceiling exists for a reason, does it not? Will we kick the can down the road like we always do? Probably.
It's related because the SVB insolvency is a good example (but obviously much smaller scale) of what might happen to every industry that the US Federal Government owes money to. SVB really just affects tech companies and related industries, the US Federal Government has invoices outstanding is almost every industry.
"See what's happening here... multiply this by a thousand in 4 months", etc.
Of course the debt ceiling exists for a reason - but if you want the budget to come in under the ceiling then you have to reject the bills going through the senate. Obstructing the debt ceiling is essentially just refusing to pay your credit card bill after you've already used all the stuff you bought.
I do agree though, I don't think the GOP obstructionists will hold firm, they'll cave when their donors get upset.
We go through the same stupid bullshit dance every single time the debt ceiling gets hit.
Politicians are leveraging their power to try to get what they want.
This is business as usual.
The result will be the same as it's always been, and there's no reason to pretend otherwise.
All part of the great big festering neon distraction that is politics.
I hope so, and I think you're probably 70% right, but this particular time there are more people involved who actually do want to end the Fed because they'll profit from that chaos.
😬 yikes