Here is my hypothesis:
Lets say that there is a group of people, a cabal of billionares and millionaires.
Your hypothesis is instantly countered by the billionaires and millionaires on the 'other side' of the aisle who are doing the exact same thing;
which is not to "crash" the economy, but transform it into a new model.
They tried to get Romney elected to push their agenda and failed. They realize that because of changing demographics and political climate, and
the bad economy, it is doubtful they will get a real hold on power again for the forseable future. Since they are the 1 percent, and own almost all
the wealth in the country, an empowered populace might eventually turn its sights on them and their wealth and begin to tax them on terms more
equatable to the people as a whole, instead of favoring a small percentage of oligarchs.
The ubiquitious unknown..."they"...as if the other "they" are some sort of savior? By your estimate and prevailing understandings and thought
that politics and positions of power are "bought", shouldn't these billionaires and millionaires be in office or placed their puppet into power?
You have a wider breadth here in terms of what you are talking about though. You are talking about the "rich", the Tea Party, Romney, etc, etc.
Not what your title entails in my opinion.
So they decide if they cannot rule over the country by political means, more strident action is needed. By instructing their bought and paid
Wait, they couldn't buy anyone else except the Tea Party members? I am confused; also do you think that those that are everyone else save the select
few you are ranting about are not also 'bought and paid for..."? You sort have alluded to this, but in passing.
...[T]hey trigger a default on the debt which crashes the economy.
The "default" narrative is false. Default would mean not paying the bills at all, for a period of time. Going over the 17th deadline wouldn't
have resulted in a default as the Government admittedly had the funds (some 30 billion) to continue paying bills. Not to mention that taxes
collected; which bills could have been paid to outstanding debts to external creditors.
What effect will it have? Yes it would throw the country into chaos, people will lose life savings...
Possibly, but pure speculation in my opinion.
...most of corporate America would go off the proverbial cliff, the dollar is likely to crash, and world financial markets will be thrown into
How though? Or are you just saying what you have heard? Have you actually thought about it? How the Government pays its debts? The flow of money
in (taxes) is quite enough to pay debtors.
Our unemployment would skyrocket even worse than it is now, with almost NO hope of improvement, because the currency is crashed. People who
were starting to feel politically empowered now just focus shelter food and water. Yes there will be rioting and angry mobs but they will be short
lived because people will be too obscessed with just survival. How many paychecks is the average person away from disaster? You get the picture. We
are probably looking at a severe economic depression, worse than the Great depression, that will be global in scope.
I see this as hyperbole.
But wait. These people are OBSCENELY rich. If you have 70 billion dollars and lose 50 percent of your assets, you still have 35 billion
dollars. And your enemies, the 99 percent, will be completely destroyed financially. You can now pool resources, take your still formidable wealth,
and control the ENTIRE country, which is now pretty much in ruins. Who will oppose you? The infrastructure is devastated, if not outright destroyed.
The government is in effect disintegrated. The control the financial elites have now will be magnified a thousand times.
So the question isn't "is the Tea Party trying to crash the economy"; it is "is the rich trying to crash the economy"! You are ranting about the
rich; your right to do so.
By necessity alone, we would very quickly return to a gold standard. Guess who has all the gold?? And of course the golden rule is, those with the
gold make the rules.
Our chief economic competitor, China, will be thrown into a state of complete chaos by the default and the inability to pay back the loans, now
vast, incurred by the US.
Well since we are not paying them in full now, what makes you think we couldn't keep up the payments with taking in an estimated $6 billion/day in
I hope I am wrong about this. The coming days will tell the tale