Bob Corker: Let’s face it, no one cares about fiscal responsibility
The fiscal is not sustainable so we are betting through the devaluation, peeking across the divide. Our plot is to inform the groups, a partial devaluation might happen, from time to time. By betting the partial defaults, we reveal to ourselves the more exact nature of the imbalances. Then we get partial reforms to match, we think it is net positive.
For example, the mayor of LA might figure out that the dynamics of urban camping makes housing subsidies open ended and growing. The League of California Cities might notice total return is closer to 5%, not 7%. Political correctness often becomes an asymmetric con.
Each discovery a mark to market and the queues stabilize. California is the threat, they may force a labor resort and we do the big swing.
For example, the mayor of LA might figure out that the dynamics of urban camping makes housing subsidies open ended and growing. The League of California Cities might notice total return is closer to 5%, not 7%. Political correctness often becomes an asymmetric con.
Each discovery a mark to market and the queues stabilize. California is the threat, they may force a labor resort and we do the big swing.
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