Melodramatic? I don't think so. I'm beginning to get those September / October 2008 feelings all over again. Except this time it's different.
2008 was about the elite not realising what they were doing and destabilising the system. I don't believe they did that deliberately to provide an excuse to shrink the state, shift wealth upwards and to centralise power. They just took that opportunity from it as it arose. I stress, I think, that's the case.
But this time we know this crisis is deliberate, planned and coolly calculated. The Tea Party are engineering this crisis at the behest of their paymasters. The aim is to bring down the state, to undermine its power, to break its capacity to deliver and to then use the power of the capital belonging to the few - and already located in large part beyond what those who own it think is beyond state control in the world's tax havens - to create a new order.
And this time they want the disorder as the justification for their now order.
Obama can't blink. Better default than blink. And then just hope. This is one democrats (I use the small d deliberately) have to win.