Yesterday, Senator John McCain was given the Senate floor in regards to the debt ceiling debate and this is what he has to say :

“The Republican House that failed to raise the debt ceiling would somehow escape all blame. Then Democrats would have no choice but to pass a balanced-budget amendment and reform entitlements, and the tea-party Hobbits could return to Middle Earth having defeated Mordor.

This is the kind of crack political thinking that turned Sharron Angle and Christine O’Donnell into GOP Senate nominees.”

Could John McCain be smarter than I thought? Could his assessment of the Tea Party as being “hobbits who are out to defeat the hordes of Mordor” be a, somewhat demented, but accurate description of the Tea party?

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Are you ready and willing to watch the Republic burn?

The debate in Washington over increasing the debt limit has come to a stand still, but the clock moves ever closer to an August 2nd dead line that will cause the United States federal government to either default on it’s creditors or it’s citizens.  This will not be because of the refusal of Republicans to raise the debt ceiling, nor will it be because more income tax revenue is needed. Neither of these options will stop the inflation that is about to hit America… hard.

Ever since U.S. currency was taken off of the gold standard, the United States has enjoyed the privilege of being the world’s reserve currency holder. The U.S. dollar has routinely maintained it’s worth because the United States’ gross domestic product (GDP) output dwarfs the second leading economy in the world by, at least, 4 times.  This is the result of businesses and corporations that produce goods in America that are bought in bulk and re-sold in other countries throughout the world using the U.S. dollar.

But things are changing…

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