Azredhawk - how are the "productive" people going to overcome having assets denominated in a worthless currency? Because that is what happens when governments default.
I'll be back to check on this thread if the debt limit doesn't go up; if any of you over there can still afford Internet access, I'd like to read post-default opinions about this.
I predict that the republicans will eventually cave on this, knowing (as they do) how severe the consequences will be.
Whatever the welfare society is given by government, the productive people will ALWAYS have more. If they don't... the productive will either stop being productive or they will pursue a dramatic correction of income redistribution (such as insurrection or secession).
So, whatever hurts the productive... will always hurt the welfare society MORE.
You're right... losing assets or asset value will hurt the productive society a lot. But when it comes to the daily grind of keeping the rain off your head and food in your mouth, productive people will be ahead of the curve when compared to welfare recipients.
And productive people will ride that storm. When the moochers come to take food out of their very mouths and try to redistribute it to the welfare society, however, there will be conflict.
It seems we as a society are REALLY AVERSE to having the welfare debate unless it REALLY HURTS.
TIKIWIKI will really hurt. But it won't be the end of the world. We all might lose big chunks of our 401k's and stocks and such. But the wealth potential our country will have, once we axe our social programs once and for all, will make such an investment worthwhile ten times over. Productive people will recoup their loses, and then some.
Where we sit right now, we have financial assassins heading our government and alley thugs down the street waiting to steal the scraps.
I'm all for doing something to disenfranchise the financial assassins, and turn the alley thugs into the outlaws they should be. But to do that, we have to force their hand and make them bare their blades for all to see.