Wall Street Starts Getting Nervous About the Tea Party

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


From the Wall Street Journal:

Worries about government debt rocked capital markets on both sides of the Atlantic Monday, as fears that the Greek crisis will spread combined with concerns at the standoff over the U.S. debt ceiling….Adding to the market woes were indications that, after months of shrugging off the debate over the U.S. debt ceiling, investors are getting edgy over Washington inaction ahead of an Aug. 2 deadline. The discomfort was reflected in the recent underperformance of the 30-year Treasury bond, traders and analysts said.

Hey, maybe investors are finally starting to understand that a big chunk of the Republican Party is really, truly batshit insane. They’re not faking it! But here’s a guess: all it will take to get the tea partiers in line is a thousand-point drop in the Dow. Suddenly, playing games won’t seem like quite so much fun anymore, and it’s about the only thing that seems to get their attention. I figure it should happen sometime around August 3rd or so.

Fact:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and billionaires wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2024 demands.

payment methods

Fact:

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2024 demands.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate