Not raising the ceiling of the US financial debt will mean there is no more money for federal institutions and entities to further operate, which will cause the global financial systems to be in peril. This being used as a political tool shows you the lack of stability within our political system as well as the divide where nothing is safe (everything is weaponized to gain leverage to take the upperhand).
Congress and the White House have gotten together To conduct numerous meetings with no known resolution towards the end game. Everything is at stake here; a possible stock crash, a sudden recession, the dollar will drop dramatically, global international reserves would devalue, the prestige of the US as a major purchasing entity would be at risk (less trust), and our discount as a major borrower could end.
The fact that our politicians can't be trusted with this sort of issue is troubling to us as a society. We allow them to bicker and fight rather than demand a solution. They are supposed to be the champions of solutions and not the champions of instability. Which points out a glaring flaws of humanity in unpredictability and selfishness. The extents people are willing to go to gain leverage. People are willing to sacrifice everything to hold the power...or atleast at best, willing to take us all to the brink where this instability and selfishness just by words can cause our markets to dip slightly (this could ruin some companies and drive them to their destruction alone). With all the closures of these banking institutions (First Republic Bank, Signature Bank, and Silicon Valley Bank); we need to muster up as much stability to figure this out (prevent more of this from happening) rather than prepare for the debt ceiling to come crashing down so that safety nets can catch the rubble to lessen the blow. Does our politicians understand and/or care about anything?
Reference:
https://news.yahoo.com/7-doomsday-scenarios-u-crashes-130816570.html
Add comment
Comments