Skip to main content

If You Care About Preserving Our National Credit Rating, You'll Light Yourself On Fire This Instant

  • Author:
  • Updated:

Okay, it's a summer Friday afternoon and it's hard to concentrate on work, whether you're thinking about beating the traffic out of town or just nibbling daintily on a tiny burger. But John Carney's sources in Washington would really appreciate it if you could stay focused for a few more hours and freak the fuck out.

I just got off the phone with a source on Capitol Hill who has spent the past few days trying to convince Republicans to vote for a debt ceiling hike.

He told me that the biggest obstacle he faces has been "market complacency."

"Frankly, a bit of panic would be very helpful right now," he said.

Particularly helpful would be bailing out of money market funds, pushing gold to new records, or this:

Washington Is Annoyed at Wall Street's Failure to Panic [CNBC]