Friday, July 15, 2011

The Fix Is In

Ron Paul is now hitting the airwaves with this video rant about the debt ceiling.
I'm afraid it is too late. Boehner and Obama have met in private, and that's enough to guarantee that the fix is in.
When time permits, go to Vegas and try to place a bet that the government WILL raise the debt ceiling.
They'll laugh you all the way to Miami. Nobody in his right mind would take that action.

2 comments:

kencptx said...

Whited, www.intrade.com, a prediction market, shows that people are betting there is a 42% chance that the debt ceiling will be raised to at least $15.1T by Aug 1!

Nick said...

You can place that wager on Intrade.

Nobody should reasonably expect anything other than compromise. We got a Republican House, a nearly split Senate, and a Demon Rat president. There had to be a compromise.

We know that Demon Rats will never control spending or lower taxes. We've seen that Republicans would rather wield power than comport to their principles. The Tea Party has insufficient clout, and libertarians are rare and unelectable in large numbers.

American government is designed for slow, incremental change. We developed the New Deal during war and economic emergency, but the real damage of the New Deal wasn't the initial impact but rather the incremental changes over the next 6 or 7 decades.

Look how rare Constitutional amendments are. That not only indicates how difficult change is, but how this boondoggle arose without resorting to necessary amendments. The Raw Deal is ingrained in society. Too many people have a financial stake in these programs.

it will take war, emergencies, and decades of time to fix these problems, and the fixes will probably not be to our liking.

I don't want to suggest there is no hope, but we won't see it in our lifetimes. We need to be satisfied with small victories, otherwise we'll live a life of perpetual disappointment.

The existing parties may be Tweedledum and Tweedledee, but one of them offers a greater opportunity for positive change than the other. Third parties have zero chance. The nature of our voting system eliminates the possibility of a sustainable third party.