There is more than one way to burn down the Reichstag
This post goes out to Jonathan Easley, Matt Taibbi, Felix Salmon, Matt Stoller, Dave Sirota, and any other reporter who wants to take a swing at this.
What if the debt crisis is not brinkmanship? What if the kleptocracy wants a default? Right wing economists actually testified before the Senate Banking Committee that it would be OK for the US to default on the debt. Clearly their paymasters want to put this idea into circulation. Why? Two years ago Eric Cantor actually invested in puts against Treasury bills. Has he done so again? Who else is selling America short in the literal sense? The Koch brothers?
What would happen if the US defaulted on its debt? Well, the current political system would be completely discredited. How would the crisis be resolved? Would the Very Serious People call for a super commission like the thieves who are currently running Detroit? Would we have a national version of that? Would it be the crisis in which a US version of Galtieri would seize power? We need to at least start entertaining the possibility that this is not brinkmanship. We need to consider the possibility that the kleptocracy wants a default.