Another example of why the empire is nearing its end. The Dollar will crumble pretty soon. It's frankly astonishing that this is being accelerated by such moves.

The question I guess is, is this intentionally stupid or just plain stupid?

When Democrats "push" for "something" it's 90% performative. Just something to excite the base, with no intention of actually making it into law.

First off, both parties are responsible for the debt, this much is clear.
There was no such debit limit posturing from GOP during Trump years AFAIR.
Second, US is unique in pretending that debt limit is "real" like a credit card limit.
No other country (apart from Denmark) has a debt limit measured in a set value, not in % of GDP.
Realistically, with more than 1 tril in deficit every year, what kind of debt ceiling one can talk about?
It's all fun and games (political).
Another question-how long can it continue?
I am not sure, especially with 5% interest payment on a short term debt.
However, why would dollar crumble against other fiat if they ALL do the same?
It may crumble against bitcoin for sure, but isn't it what we all expect?

Of course, I know that these kinds of people exist - but I find people to NOT want to commit to such long time horizons, even if they say that they are ready, willing and able to do it. 

When I got into bitcoin (in late 2013) I was thinking 1-2 years minimum... and so I was not even so strict upon my lil selfie as to really lock myself in, and frequently, since about 2017/2018, I tell people that the investment thesis is so much stronger now than it was in 2013, that any of us should be able to attempt to conceptually lock ourselves into a 4-10 year or longer investment time horizon right from the start of getting into bitcoin.  I am telling people that because I think that my own conviction has adjusted but also I think that the actual investment justifies the ability to get into it with a 4-10 year or longer investment time horizon. 

When I talk with people about this 4-10 year or longer investment timeline, they say the right words like "yes, that sounds right" but I really don't get the sense that anyone really wants to commit to anything that long.. and even 2 years is feeling like a long time for them.... of course, there can be circles in which people have more confidence and are able to show more enthusiasm.. but normies seem to have a lot of reluctancies to really buckle into a long term investment plan that includes bitcoin as one of the components.. whether that is a low allocation such as 1% of their total quasi-liquid investment portfolio or something more aggressive up to 25%.

Maybe my recent interactions are skewing my judgement a bit, because I know that between late 2015 and early 2019, I had quite a few more interactions with people who were more apparently inwardly motivated towards establishing and maintaining a longer term investment thesis in bitcoin, and some of those people were already somewhat predispositioned towards bitcoin by the time that I had spoken with them as compared with folks who seem to be getting a vast majority of information from me or from the contrasting misinformation that they seem to be getting off of mainstream media sources.

they are correct.

 and it should be great for BTC

Agreed in a more general way, the concept of along term investment is that long term definition has turned into a couple of years where I would go further and say it’s at minimum 10yrs to 30yrs. It almost lines up to a mortgage term and that’s how I see long term in any investment. In relation to btc and the first ones in is there any on chain data would could get a gauge on how much stuck to at least 10yrs holding.

No mindrusting here
But the powder was too damp
I made no killing



#haiku