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Debt ceiling jitters lift US credit default swaps to highest since 2011
Snippets from Heather Cox Richardson's Letters from an American published on 04/24/2023.
"In other concerns about national security, former secretary of state Hillary Clinton published an op-ed in the New York Times today warning that the threat from House speaker Kevin McCarthy to hold the nation’s finances hostage until the president agrees to the wish list McCarthy presented last week has 'significant national security implications.' With all the global threats looming, from Russia’s ongoing invasion of Ukraine, to rising tensions with China, to future pandemics and climate change, 'the world is looking to the United States for strong, steady leadership. Congressional brinkmanship on the debt ceiling sends the opposite message to our allies and our adversaries: that America is divided, distracted and can’t be counted on.'”
“'[T]the competition between democracies and autocracies has grown more intense,' she wrote. 'And by undermining America’s credibility and the pre-eminence of the dollar, the fight over the debt ceiling plays right into the hands of Xi Jinping of China and Vladimir Putin of Russia.' That the U.S. dollar is the world’s central currency enables the U.S. to use its financial power around the world, imposing sanctions, for example, and undermining that power will significantly weaken the U.S."
You get what you vote for. Problem is that only the most fervent vote in the primaries and so many voting districts are gerrymandered into predetermined party outcomes. My township hasn't had a democrat run for local office in at least 3 elections and we're on four year terms. They voted 55/44 Trump in 2020. What this means is that everything is decided at the primary. We have a county on Lake Michigan - Ottawa that had a religious group get pissed over mask mandates and primaried the existing conservative republican county commissioners with some serious crazies. Now it will probably reverse at the next election, but, again, these are four year terms. They'll piss off Nessel and she'll have their ass.
rono the 3rd term elected republican township trustee.
I'm thinking that because lots of voters never see any change for the better they just ignore the whole thing. Unfortunately that leaves lots of room for things to change for the worse, which they often do.
Might also explain why the perceived lack of discussion/interest commented on above. Absolutely nothing that can be done at our level of governmental participation... we're just the pawns on the chessboard.
I'm a transplant to MI, probably live in a bubble, and I could not feel more alienated from what appear to be a large percentage of this state's residents.
@BenWP- well, at least you're in good company- @rono, @hank, and @Catch22 for starters. And I have to tell you that when we were younger, over a number of years we covered a huge swath of Europe with a good sized group of Michiganders and Michigeese, and they were just great people.
I couldn’t get into the WP piece linked. Here’s the same basic story, easier to access.
Haven’t read this completely. Like any large state, we have good and bad here. In some rural areas there’s a hard right wing faction that exerts outsize influence due to its vociferousness and willingness to threaten those who oppose them along with an affinity for firearms. Attending public meetings can be downright scary. Disrupting meetings is a tactic used. Subtle threats fly, but usually stop short of being explicit enough to lead to arrest.
Fortunately, in many of the state’s urban, better educated areas, particularly near universities, the situation is much better. And, the Dems pretty much swept the recent state election (Governor, lawmakers) due to the type of right wing extreemists the R’s put on the ballot during primary season. Haven’t read the full article yet. Hope what I lent here is relevant. @BenWP, to best of my knowledge, resides in one of the most literate and enlightened areas of the state,
@hank- good point, re education. Many of that group were teachers, as was my wife, and all of them were well educated. They made us welcome and treated me as an equal, despite my lack of formal higher education. In fact, they "adopted" us as their San Francisco mascots. What a great bunch of folks. We left a massive trail of empty wine bottles over much of Europe.
Ottawa County is in the southwestern part of Michigan’s lower peninsula along the Lake Michigan shoreline. It is home to the city of Holland whose name reflects the high population of descendants of Dutch immigrants. I’d imagine the Dutch Reformed (Protestant) Church, a conservative lot, to be prominent there. Betsy DeVos, Education Secretary under Trump is from Holland. I’m not aware of the economic base. But, due to the location along Lake Michigan tourism would be very important to the economy (read: restaurants, lodging, charter fishing). It’s likely, too, that many commute to the city of Grand Rapids for work. Areas along the lake tend to be prime areas for fruit growing due to its moderating effect on temperatures. To the east of Ottawa County lies Kent County, whose largest city is Grand Rapids. Gerald Ford, former Congressman and President, was a native of Grand Rapids.
Nothing did more to stir fractiousness of politics in rural parts of Michigan than the Covid-19 lockdowns and mask mandates. Small business owners, many with deep pockets and outsize political influence, were in revolt - defying the Governor’s Covid restrictions, flaunting the law, and taking their cases (when charged) to court where many were ultimately successful. Threats against and attempts to remove health department officials were common. I don’t know if Covid caused this ultra conservative uprising, but it certainly hastened it. And, the inspiration taken from the then occupant of the White House cannot be overlooked. (There was actually a plot to kidnap our Governor intercepted by the FBI.)
Note: It’s highly unlikely the people profiled at the public meeting are representative of the local citizenry at large. They rose to the “top” thru grit, bluster and with the help of those with business interests (and lots of money). As a friend likes to remind me: “It’s not always the cream that floats to the top.”
@Old_Joe / Yes, I’ve known folks like that. Moments to cherish.
Comments
"In other concerns about national security, former secretary of state Hillary Clinton published an op-ed in the New York Times today warning that the threat from House speaker Kevin McCarthy to hold the nation’s finances hostage until the president agrees to the wish list McCarthy presented last week has 'significant national security implications.' With all the global threats looming, from Russia’s ongoing invasion of Ukraine, to rising tensions with China, to future pandemics and climate change, 'the world is looking to the United States for strong, steady leadership. Congressional brinkmanship on the debt ceiling sends the opposite message to our allies and our adversaries: that America is divided, distracted and can’t be counted on.'”
“'[T]the competition between democracies and autocracies has grown more intense,' she wrote. 'And by undermining America’s credibility and the pre-eminence of the dollar, the fight over the debt ceiling plays right into the hands of Xi Jinping of China and Vladimir Putin of Russia.' That the U.S. dollar is the world’s central currency enables the U.S. to use its financial power around the world, imposing sanctions, for example, and undermining that power will significantly weaken the U.S."
You get what you vote for. Problem is that only the most fervent vote in the primaries and so many voting districts are gerrymandered into predetermined party outcomes. My township hasn't had a democrat run for local office in at least 3 elections and we're on four year terms. They voted 55/44 Trump in 2020. What this means is that everything is decided at the primary. We have a county on Lake Michigan - Ottawa that had a religious group get pissed over mask mandates and primaried the existing conservative republican county commissioners with some serious crazies. Now it will probably reverse at the next election, but, again, these are four year terms. They'll piss off Nessel and she'll have their ass.
rono the 3rd term elected republican township trustee.
peace,
rono
NYT or WaPo just did a long article about your county
Led by Evangelical Christian trying to replace Health department with an HVAC saleman.
The article did not mention the turnout in the election they won. Do you know what it was?
Might also explain why the perceived lack of discussion/interest commented on above. Absolutely nothing that can be done at our level of governmental participation... we're just the pawns on the chessboard.
https://www.washingtonpost.com/politics/2023/04/22/ottawa-county-commission/
I'm a transplant to MI, probably live in a bubble, and I could not feel more alienated from what appear to be a large percentage of this state's residents.
Haven’t read this completely. Like any large state, we have good and bad here. In some rural areas there’s a hard right wing faction that exerts outsize influence due to its vociferousness and willingness to threaten those who oppose them along with an affinity for firearms. Attending public meetings can be downright scary. Disrupting meetings is a tactic used. Subtle threats fly, but usually stop short of being explicit enough to lead to arrest.
Fortunately, in many of the state’s urban, better educated areas, particularly near universities, the situation is much better. And, the Dems pretty much swept the recent state election (Governor, lawmakers) due to the type of right wing extreemists the R’s put on the ballot during primary season. Haven’t read the full article yet. Hope what I lent here is relevant. @BenWP, to best of my knowledge, resides in one of the most literate and enlightened areas of the state,
Nothing did more to stir fractiousness of politics in rural parts of Michigan than the Covid-19 lockdowns and mask mandates. Small business owners, many with deep pockets and outsize political influence, were in revolt - defying the Governor’s Covid restrictions, flaunting the law, and taking their cases (when charged) to court where many were ultimately successful. Threats against and attempts to remove health department officials were common. I don’t know if Covid caused this ultra conservative uprising, but it certainly hastened it. And, the inspiration taken from the then occupant of the White House cannot be overlooked. (There was actually a plot to kidnap our Governor intercepted by the FBI.)
Note: It’s highly unlikely the people profiled at the public meeting are representative of the local citizenry at large. They rose to the “top” thru grit, bluster and with the help of those with business interests (and lots of money). As a friend likes to remind me: “It’s not always the cream that floats to the top.”
@Old_Joe / Yes, I’ve known folks like that. Moments to cherish.