[ExI] Warren Buffett is worried too and thinks Republicans are "asinine"

spike spike66 at att.net
Wed Oct 16 16:37:29 UTC 2013



From: extropy-chat-bounces at lists.extropy.org
[mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of spike

>.John everyone, even the Tea Party, agrees default is bad.  The argument is
really about who is doing it and why we keep hitting the debt limit with
mind-numbing regularity, as well as how to stop hitting it it and what to do
if the lenders stop lending, which is looking like a more distinct
possibility very day. spike



I was wrong on an earlier prediction.  I thought they would work until
midnight tonight before announcing congress has reached a deal.  They just
announced they reached a deal today at noon, 12 hours ahead of where I
predicted.  So now I am more cautious but still confident on my next
prediction: we will see a similar phony crisis again on or around 7
February, when we are again at the debt limit.  

It could be the Mr. Obama was correct when he said that raising the debt
limit does not increase debt.  In that case we never hit that debt limit
again and the whole problem goes away.  

I jest of course.

They will borrow it all, hit the new temporary funding limit on 15 January,
have another phony partial shutdown (or slimdown as they are calling it) as
we did a couple weeks ago, argue and thrash about right up until the debt
limit on 7 February, then dish out another three or four months' temporary
funding with none of the underlying problems solved at all.

Not that Americans are growing cynical and skeptical of our own government
or anything.






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