Washington has gone insane
People who can’t sell bonds and other credit instruments don’t know what they are worth.
Things that you can’t sell have an immediate real value of “zero,” even if their actual value — in a sane market that’s working — would be considerably higher.
Amid all this mounting uncertainty, one thing has become crystal clear: Our political class stinks.
We face a crisis of almost unprecedented magnitude — a potential Great Depression that threatens the well-being of millions of Americans. And what do our politicians do?