"Yes, the legislature is behaving like a bunch of utter morons if they think that driving the US government into default is a good idea. But it's their right to behave like a bunch of utter morons."
--Felix Salmon, REUTERS
"Why we won't mint a platinum coin". Reuters. Retrieved Jan 9, 2013 I suggest that Mr. Salmon is minimizing the effect that a legislature behaving like morons is having on the global economy.
Salmon is quoted as saying:
"No one knows exactly how high CDS rates would go if we pierced the debt ceiling, but it’s a reasonable assumption that they would go higher than they are now."
I wonder if he is aware of the fact that a large majority of Tea Party faithful in Congress have invested heavily in credit default swaps that pay off in the event of a national debt default.
They stand to make a fortune on the blood and backs of a devastated nation.
They're not behaving as morons, they're behaving like this bunch right here:
![[Linked Image from upload.wikimedia.org]](http://upload.wikimedia.org/wikipedia/commons/6/6e/Somali_Pirates.jpg)
THEN Mr. Salmon goes on to say:
The second problem is that what we’re talking about here has a kind of Cold War mutually-assured-destruction mentality: “don’t you dare try to force a debt default, because if you do, I’ll come out and render you entirely irrelevant with my platinum coin”.
---Uhhhhh, I dunno, mutually assured destruction kept us safe for well over forty years.
I think Mr. Salmon might not have been alive back then. He looks wet behind the ears. I wouldn't be surprised if he's too young to remember Members Only jackets. Maybe his Dad had one?
