US Banana Republic Begins

$16.7T debt ceiling. Another $2T in debt over the next two years, with $1T in cuts. Mostly imaginary I suspect but we'll see. Now the discussion moves to the form and timing of QE3 which is guaranteed considering depression level US GDP the last two quarters. Let the dollar decline accelerate.

The US will be a banana republic with debt at 114% of GDP by 2013. Hurrah!