I am not a fan of ceilings. Well, at home is good. Maybe in most any building.

But that’s not the kind that we have as the subject today. We’re talking about the debt ceiling of the federal government. It’s possible one or two people may not be as familiar with this issue as they think.

For instance, we are the only country in the world with a debt ceiling. Another minor point is that a debt ceiling is unConstitutional. Now, are you ready for some football . . . er, uh, facts?

Yes, Virginia, the Congress of these United States, in their infinite wisdom, made us the only country in the world subject to such a nonsensical, unnecessary and useless stricture.

It isn’t merely a matter of embarrassment. It represents a potential threat to this country, and the world, that can only be guessed at. Why would they put us in so precarious position? Why would they so jeopardize us?

The debt ceiling took years to develop. It was intended to help the United States Treasury. The original intent was laudable. Its present misuse as a political weapon is despicable.

Until the time of WW I, ‘The Big One,” Congress would authorize each specific debt that was incurred. For a couple of decades, efforts were made to provide the Treasury an easier way of dealing with debts. Those efforts were formalized into a law in 1939 that provided for a debt ceiling. No good deed goes unpunished; particularly when the good deed doer has no idea what they are doing.

Most debt is incurred by action of the Congress. However, the executive branch can cause some debt. Even the courts can subject the government to debts, intentionally or not, as the result of some rulings.

However debt may be incurred, if it is legal, the Treasury must, by mandate of the Constitution, pay that debt. The Constitution makes no allowance for failure to pay any and all legal debts.

Additionally, while the above is stated quite explicitly, the Constitution is what the Supreme Court says it is. In 1935 the Supreme Court very clearly ruled that Congress did not have the power to cause any legally incurred debt to go unpaid. There would, otherwise, be no way to promise the “full faith and allegiance of the United States” to any obligation.

Those great patriotic worshipers of the Constitution may tell the Treasury that they can’t pay any bills once the ceiling is breached. They need to actually read the Constitution. It would help if they would also read an occasional ruling that the Supreme Court hands down.

While the above is true and easy to understand, there is a political consideration. It is very unlikely that any Secretary of the Treasury would be willing to be seen as defying Congress. It’s a sure bet that Secretary Geithner and any of his predecessors and successors see, or saw, their only option being to bow to Congress and pretend they have the final word.

Hey. We have a president who used to be a professor of Constitutional Law. Surely he’s familiar with the original part of the Constitution. Surely he read all of way down to Section 4 of the 14^th Amendment. But, even though he may know better, he has no more political room for maneuver than the Secretary of the Treasury.

We are stuck under the thumbs of the super patriots who don’t understand most of the Constitution and disagree with everything they do understand.

Now, we hear that there is a certain amount beyond which the Treasury will be barred from borrowing. We are told that once the cash on hand runs out the Treasury will be barred from paying any bills or other obligations. Were that it was that straightforward.

They say that our armed forces personnel, those on Social Security and many others cannot be paid . . . but guess who can. Did you say banks? You are either absolutely brilliant or at least have a realistic perception of the way our system works.

How do they justify that? Ask them. The IRS collection personnel will continue to be paid as you and I will still be required to come up with the wherewithal to keep those bankers bonuses flowing.

Okay, you say. What’s so bad about not raising the debt ceiling? The truth is, we don’t know. I can recall nothing even close to this happening before. We have no real analog for guidance. We must depend on educated guesses.

Some of the guesswork can provide a relatively high degree of confidence. We know the level of greed that guides the majority of players. We know the inane ideology they will use to rationalize their actions. We know that fear mongering will likely set new standards. Put them all together Dr. Frankenstein.

Usually, interest on the debt is one of the largest items in the annual budget. It continues to be while significantly diminished. You may have heard that interest rates are at historic lows. That has allowed us to borrow at very low cost for the past few years. It is obviously to our government’s, and taxpayers’, benefit to extend those low interest rates as long as we can.

That makes sense, you say. Won’t we? Many in and out of Congress are determined that we pay higher rates. How could they be so unconcerned for our country’s economic well-being? Some because they are ideologues. Some for putative political advantage. Some for both reasons.

It is difficult to understand the ‘thinking’ of some politicians. They are owned by the banks. The banks love the essentially free money they can borrow now. The banks have told their representatives not to shut down the government. They likely will obey their orders but for the sake of their ideology and their ever credulous constituencies they want to push it to the brink.

The banks, our creditors and other major financial entities relying on our “full faith and allegiance” will begin to get fidgety at some point before the actual deadline. The automatic, ideologically-based response will be to raise interest rates. Our government, we the taxpayers, will lose those low interest rates ahead of the final due date.

Here we have the true believers screaming that the debt is too large. They threaten massive cuts to every program that helps the middle class and sustains the poor. Though our taxes are the lowest in more than 60 years, they bemoan such an intolerable tax burden on the top 2% and are willing to increase the debt for their benefit.

Now comes the kicker. They are willing to cause the government’s interest rates to increase incurring additional debt in the hundreds of billions. Don’t forget to send these self-described debt haters a thank you note.

Why all of the concern by the banks, China, the Saudis, the Brits and all of the other major players? Because the US Dollar is the currency of the realm. Everyone puts their “full faith and allegiance” into the Dollar. Everything in international trade is denoted in the Dollar. There is the stability required for the financial world to function because there is a common coin.

So, just replace it with the Euro. You may not have heard that several members of the European Community are experiencing even greater financial discomfort than are we. Greece, Ireland, Iceland, Portugal and others. This is putting heavy stress on the stronger national banks of the Community. There is not inconsiderable talk of some members leaving the Euro. Some even talk of abolishing it.

That doesn’t sound to me like a promising alternative. What about gold? Give me a moment. Let me stifle my paroxysm of giggling.

The Washington Monument measures 55 feet on each side at its base. It stands 555 feet high. All of the gold ever gathered by mankind in its entire history would equal about one-third of the volume of the Washington Monument. That doesn’t seem to be all that much. Use that as the basis for finances of the entire world? And that doesn’t even take into consideration how much would be needed for the egos of both the rich and poor in Rolexes and teeth.

Allow me to translate that for sports fans. The playing field for football is 300 feet long and 160 feet wide. This, of course, doesn’t include the end zones. All of the gold gathered in the history of mankind would stack up on that playing field a bit less than 11½ feet high, barely higher than the crossbars on the goalposts.

People usually fail to take into consideration how advantageous it is to have our currency accepted as the de facto world standard. When OPEC quotes prices in Dollars we have both a slight real and a psychological advantage. We are, to a degree, insulted from most of the zigs and zags of currency values. In many cases, the cost and convenience of currency exchange works to our advantage as tourists or direct buyers from other countries.

If the world holds our credit worthiness or solvency in question, the pedestal of world superpower will start to crumble at an alarming rate. Our national strength has always been intimately yoked to, indeed based on, our perceived economic dominance.

It is impossible to quantify the potential damage from shutting down the government, to us and everyone else. The loss of the standard will mean economic turmoil around the world until a new system can be developed. The present system developed in the aftermath of WW II and was possible because the rest of the world was prostrate. I don’t recommend revisiting those conditions.

The politicians, most of them, are presently playing games with this issue for some expected political advantage. It’s time to realize that it isn’t a game and hope some adults come to the fore.

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The CEO of Goldman Sachs, Lloyd Blankfein, claims that he is doing God’s work. Has God retired? Is God not upset with Lloyd for causing his 401K to tank?

Wouldn’t you like to get a peek at God’s portfolio? Such gems of wisdom from one of the Masters of the Universe generates lots of questions.

If Goldman Sachs’ own stock is down 27% and they helped put the global economy in shambles, just why are they giving each other record bonuses? Did the Keystone Cops get bonuses?

Wall Street is congratulating itself that the Dow-Jones has once again reached the 10,000 mark. Since the last time that the Dow surpassed that mark the Dollar has weakened by 25%. That means 10,000 is actually the equivalent of 7,500 back at that time. That gives them even less excuse to bestow record bonuses upon themselves.

No matter how we look at the performances of the Wall Street economists, they are greedy, self-congratulating, ignorant thieves who have never gotten it right. So, who does Obama think can solve the problems created by these crooks? These crooks.

Rubin, Summers, Geithner and the rest, need to be arrested, not trusted.

What is the latest economic news from the Cathedral of St. Greenspan? Various sources are saying that the President will address the need to balance the budget in his State of the Union Address. Really? Are there no history books in the Library of Congress?

Ben Bernanke, our illustrious Chairman of the Federal Reserve has been lauded as the ultimate expert on The Great Depression. He is being considered for another term as Chairman. Since he hasn’t contributed anything of value to our economy to this point, couldn’t he speak to the President about the primary lesson all serious inquirers into that period learned? Did he not understand that lesson?

FDR took several dramatic steps to address the problem he faced. Unlike George W. Obama, FDR put most of the emphasis on employment. But, that was not his big mistake. The economy was improving as a result of his boldness. Then, he lost his confidence and listened to the economic troglodytes. In 1937 he attempted to ameliorate the budget deficit.

The result was a double-dip, another recessionary decline, destroying the recovery from the original downturn. Back to today. What are these Wall Street wizards telling Obama to do? They are telling him that the main problem is a potential for inflation. They are telling him to balance the budget.

Let’s just take a minute to look at our situation. The banks are lending only to themselves. Main Street business is not on a spending spree. They aren’t over-hiring or over-expanding. People have tightened their belts, trying to pay down their debt. The banks can get all of the money they want at a very reasonable interest rate of zero.

So, where are the signs that the inflationary monster is bearing down on us? I can’t hear you.

You don’t stop stimulating the economy until it can sustain itself and is beginning to put more money into the Treasury than it is taking out.

Also, you don’t stimulate the economy by giving tax cuts, the most inefficient of stimuli. You don’t stimulate the economy by giving the Wall Street casinos taxpayers’ money to pay off foreign gamblers 100 cents on the dollar for their derivatives. You don’t salvage the economy buy giving the crooks zero percent loans, after paying off all of their gambling losses.

All of the happy talk from the thieves tries to convince us, or themselves, that the Great Recession is over. When pressed, they will tell you that employment always lags behind the “real” recovery. Does Obama not see a problem? There is a disconnect, a chasm, between the Dow-Jones Average and the economy of Main Street.

How could there possibly be a difference? Isn’t the Dow-Jones the economy? Well, that’s what they want you to believe. As I have been saying all along, the Dow-Jones Average could be replaced with the latest results from Hialeah and Santa Anita with no loss of economic measurement. Some people make money from betting on the horses. Most people lose money from betting on the horses. Wow, that sounds just like Wall Street.

Should the President, any president, invite touts from the major brokerage houses race tracks into the White House, even into his Cabinet, for advice on how to stage an economic recovery? If he did, your first instinct would be to laugh at such stupidity. Then you would realize that his reliance on these denizens of the race tracks was preposterous. You would have to question either his judgment or his intelligence.

There are voices of economic sanity out there. They just aren’t connected to Wall Street. What to do? What should Obama do?

We will not be able to accuse the President of leadership unless he calls Eric Holder to send a few of his minions over to the Executive Office Building, the Federal Reserve, Goldman Sachs, et alia, to arrest the “economic advisers.”

You say I bemoan the lack of leadership. Not exactly true. We have leadership. Obama has leadership. The problem is that the leadership is being exercised by criminals whose expertise is convincing others that they know what they are doing, that they are acting in our best interests and that they should be rewarded for their knowledge.

Our Founding Fathers were very perceptive and correct in their apprehensions concerning the capacity of the bankers to destroy the fruits of their labors.

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I am going on a little trip. This coming Saturday I will be off on the first leg – to North Carolina. I depart from New York on Sunday.

It has been some time since I last visited Scotland; 1971, in fact. I lucked out and left the States the day after Nixon allowed the Dollar to float. No one had any idea how much it was worth relative to any other currency. It was a time ripe for ripoffs.

I exchanged some pocket money at Kennedy Airport prior to departure – a ripoff. Luckily, the Royal Bank of Scotland had a branch in the airport at Prestwick. It turned out to be about the best rate available anywhere. Later, we learned that the biggest gougers were the American hotels in London.

With both Crawford and Harris being Scottish names, it should be no surprise that my genealogy points in that direction. Other family names include Fraser (from around Loch Ness), McJunkin (Scot-Irish) and Morgan (Welsh, but also Gaelic).

The most success in tracing our genealogy has come with the Frasers. In that part of our family was a U.S. Representative, his father, a Governor and Senator. Further back, Simon Fraser, chief adjutant to William Wallace, he of Braveheart fame was found to be in our family.

I will be visiting Sterling, site of the famous Wallace victory of Sterling Bridge. Braveheart was a wonderful movie but atrocious history. Its Battle of Sterling Bridge was filmed in Ireland, with no bridges anywhere in the vicinity. I will also visit Culloden Battlefield, site of a horrific defeat for the forces of the Jacobite Rising of 1745. It was the last battle fought on British soil.

It is also where we got the phrase ‘beyond the pale.’ Pale means white or light-colored. It came to be used as referring to a paling fence. Then such a fence became a pale, meaning a safe enclosed area. Being ‘beyond the pale’ was to be in a bad situation. There was a pale at Culloden.

Our Harris family is a sept, or sub-clan, under the Clan McLeod. There is an Isle of Harris. You may have heard of Harris Tweed, sometimes called iron cloth. The name is protected by the British Crown.

The lead picture is of the rear of the Castle Dunvegan, home of the head of the clan. It has been the home of that family for over 800 years. That makes it the residence continuously occupied for the longest period of any in the world. Immediately above is a picture of its entrance.

While the interiors for the recent movie, Maid of Honor, were filmed at Dunvegan, the exteriors were of a nearby castle, Eilean Donan. It is the most photographed castle in Scotland.

Much of the staff of the Castle Dunvegan was used as extras in the movie.

I will be taking a netbook, a laptop, a video camera and a still camera. If I have a few down moments, I may try to post a few pictures and a minimal travelogue. Don’t count on it though. I hope to spend my time enjoying what likely will be my last visit there.

My hope is that it won’t be the last. While there I will be contacting literary agents and booking agents. It would be great if I am able to put together a book tour. That might pay for a return and a 2-3 month tour of Europe. Wouldn’t that be nice?

My wife refuses to fly. But, she says, she is concerned that I might enjoy myself so much that I would decide to remain over there. No, it wouldn’t be for the universal healthcare. After all, I am on Medicare.

More likely it would be due to the beauty of the country, the sense of history, and the chance to get away from the birthers, the deathers and the teabaggers.

Don’t begin celebrating prematurely. I’ll be back.

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