Dangerous dealings with the Default Caucus
“Twenty Republican lawmakers crowded the Senate TV studio last week to issue a threat: Meet their demands, or they will force the United States to default.
“The only way to prevent the catastrophe, these Tea Party faithful said, was for the Senate to pass, and the president to sign, their plan to permanently cap spending at levels last seen in 1966, before Medicare made the nation soft.
“We want to make very clear: This is not just the best plan on the table for addressing the debt limit — this is the only plan,” first-term Sen. Mike Lee (Utah) said, vowing that “we’re otherwise going to be blowing past the debt-limit deadline.”
“We have a solution,” said Sen. Jim DeMint (S.C.). “It’s the only one that can be passed before the August 2nd deadline.”
Cassi Creek: here’s a nasty little snippet of information that has recently surfaced.
“Eric Cantor makes money if US defaults through his investments, since he holds $15,000.00 invested in Pro-Shares Trust Ultrashort 20 + Year Treasury ETF (TBT) he bought in December 2010.
The short indicates he is betting against the US government as if this appears to be a plan for investors to capitalize on the US losing ground on debt reduction.
The exchange trade fun gives Eric Cantor the opportunity to shot the government Treasury bond and he is betting that the US bond prices will drop. In fact, this represents a conflict of interest for the major player of the debt ceiling talks going on in Washington each day.
“Now why would Eric Cantor bet against the US government bonds? Hum. If Eric Cantor had a conflict of interest which it appears he does, he should have recused himself from the Debt Negotiations debate with the Obama administration. ..”
“Eric Cantors current portfolio investment of the $15,000.00 in shares means that back in December, Cantor foresees the US treasury bills declining in value…”
The probability of teavangelist – forced default over their failure to compromise on the debt ceiling is growing higher each day now. The sheer stupidity expressed by elected congressional members trying to bring about default so that they can point at Obama and blame him for the default is overwhelming. Only idiots would find such a demonstration of hatred and bigotry acceptable. There is no patriotism evident in trying to destroy our economy under the guise of pseudo-conservatism. This would never have happened but for the venomous racial bias of the teavangelists and their intellectually deficient voter base.
Combine their hatred and sheer idiocy with Cantor’s apparent greed and the fuse for default is lit. Cantor is stupid enough to gamble with America’s citizens’ future. He’s greedy enough to willingly tank the economy by disrupting negotiations intended to prevent default.
Since Cantor personally chose investments that would benefit him upon default by the U.S., we know there is an ethical problem and conflict of interest that should result in his immediate removal from office.
What is less clear today is how many of the intransigent idiots of the teavangelists caucus are also invested in funds that will profit them hugely if we wind up in default. If they are willing to force default, one doubts that they are at all concerned over their conflicts of interest. We also have to ask, "How many of the financial funds that bankroll the teavangelists are likewise poised to profit from default?"
There is no loyalty among corporations to this nation. There is no loyalty among the teavangelists in office to the American middle class, workers, or any citizens who are not multi-millionaires. There is an increasingly clear picture of how the teavangelists plan to destroy the United States for personal profit, and to demonstrate their personal hatred of Obama.
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