This will be another of my periodic attempts to catch up and simultaneously vent. If history is any guide, both efforts will be incomplete.
The American and the global economy are unnecessarily flirting with disaster (or at least uncharted territory that no sane American wants to traverse). In my mind averting it may well come down to the actions of one man above all others. That man is Mitch McConnell.
As I commence writing this article, we are awaiting the Fed’s announcement on interest rates. I am among the many who anticipate a .25% increase. That is not only unnecessary but injurious to the economy. The Fed seems committed to raising rates until (and hopefully not beyond) the point that it puts the economy into a recession. But that’s only a small part of what I want to cover today; the looming debt ceiling crisis is my main thrust.
Several recent articles have been written outlining the zaniness of today’s GOP. (Sorry no links today.) Today I’d like to cover a few of the most outrageous and dangerous.
The number one mission of the 118th Republican House Caucus is to make Joe Biden and the Democrats look bad. They really don’t care about what they will perceive as collateral damage. That includes the American and global economies. Harsh assessment? Yes. Brutally accurate? You bet!