To understand why a default is completely out of the question, please see Silly Worry of the Day: US Will Default; Politics of the Debate
As far as Republican strategy goes, I am in favor of shutting down the government unless there are significant budget cuts. Unfortunately, that will not happen. Republicans will cave in once heat from Wall Street begins.
Mike "Mish" Shedlock
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
In Other News: New Captain America Will be Black; Racist Liberals Suddenly Become Fans | Michael Schaus