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Tuesday, May 16, 2023

Debt ceiling: Biden faces legal risks, financial peril with 14th Amendment

The unprecedented step of President Biden invoking the 14th Amendment to avoid a national default would likely lead to legal uncertainty hanging over the already-fragile financial system.

5 comments:

  1. face it. the dollar is dead. we just don't know it yet. other countries are dumping them as fast as they can now. bonds are not worth the paper they printed on these days.
    32 Trillion in debt ? there is no fucking way we going to pay that off.
    any money I get these days I turn into stuff that will keep. canned food, mason jars and lids
    ammo. non corn gas with Stabil added to it. firewood.
    only keep enough in the bank to pay the bills anymore. anything left over goes into stuff.
    sound money is a thing of the past. when it does happen, it will drop faster than you think it can when it does. dave in pa.

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    Replies
    1. Oh we know it, we’re just not acting like it………

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  2. Legal uncertainty?
    Isn't that the defining characteristic of the Biden Crime Spree?

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  3. I argue the pedojobama syndicate has violated Section 2 of the 14th as well. (Section 3 being the subject of the opinion article.)

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  4. "The legal argument hinges on language in a clause stating that U.S. sovereign debt 'shall not be questioned.'”

    Well! That clearly states that every apparatchik (right down to municipal dog catchers) can apply "reasonable" change. As they see fit.

    Not merely the pen-, but even the um-, bras were settled a century ago.

    ReplyDelete

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