Most of my readership are, unsurprisingly, Americans, so this column should be read – and widely dispersed – by them.
Seriously: polling indicates that four-fifths of the United States opposes raising the debt ceiling. In economic terms, this is like four-fifths of the United States wanting, say, New York City to be blown up with a nuclear bomb; even technical default (e.g. allowing debt to hit the debt ceiling but not defaulting), and the USA’s position as possessor of the world’s reserve
community currency1 ends the same day.
Which for me would be pretty awesome because the US dollar would plummet against the loonie and I would be able to buy lots of stuff from Amazon with Canadian pennies, which would suddenly be of incredible value to Americans. Until I lost my job in the inevitable recession that would hit me and everybody else in the world thanks to the USA collapsing, but rest assured that my Amazon shipments would include everything I would need to become the Gyro Captain from The Road Warrior.
- D’oh! [↩]