Thursday, July 28, 2011

Another Prediction of Default

David Weidner, writing for The Wall Street Journal, says Washington and Wall Street have different views of the debt ceiling standoff. In his view, Wall Street is the more optimistic, and the less realistic.

Weidner finishes up with an odd insight, directed at the paper's Wall Street audience:
Admit it. Part of you wants to see Washington blow it. You want to see our national debt downgraded. Deep down inside, against your more rational instincts, you want to see a U.S. debt default.
Weidner says "you" but he means "I." He's talking about himself and presumes, probably accurately, that he's far from alone.