U.S. History

Raising the debt limit will only delay the inevitable while courting fiscal and monetary chaos: higher interest rates, cuts to social programs, a declining dollar, and price inflation.

Let's stop pretending default is unprecedented. The US defaulted on debts in 1934 and again in 1979. Today it engages in de facto default through financial repression and monetary inflation.

The fact a politician may have prior experience as a "savvy businessman" is irrelevant to the business of the state. States are nothing like private sector businesses, and business skills mean little. 

The FBI’s power and federal legitimacy are far more tenuous than Washington recognizes. Beyond the nation’s big cities, federal authority hinges largely on the consent of local citizens.

The debt ceiling served an important historical purpose. It continues to serve this purpose today. Raising it without limit is not necessary and is a dangerous precedent.

Raising the debt limit will only delay the inevitable while courting fiscal and monetary chaos: higher interest rates, cuts to social programs, a declining dollar, and price inflation. 

"American media are divided into “respectable” and “non-respectable” media. Respectable media, which are the only ones that are read by the American political elite, and presumably are all that filters down to European readers, are completely biased in favor of social democracy." — Murray Rothbard, 1992

Let's stop pretending default is unprecedented. The US defaulted on debts in 1934 and again in 1979. Today it engages in de facto default through financial repression and monetary inflation.

It was a bloodless coup d’état. The Federalists, by use of countless dirty tricks, had managed to defy the wishes of the majority of the American people and create a new constitution.

The FBI’s power and federal legitimacy are far more tenuous than Washington recognizes. Beyond the nation’s big cities, federal authority hinges largely on the consent of local citizens.