cyc: I believe that we are slowly defaulting on our debt but the folks in Arabia and China do not seem to notice it. Once central bankers figure out the game, where BLS economists are told to make up fictional low inflation numbers, the only way we will be able to sell US bonds is to raise interest rates to at least 3% REAL rates. We now have negative real rates.
As to what T Boone is up to, he rented space on his neighbors land for his windmills, go the Texas rate payers to pay for the power lines to bring the juice to the Dallas grid, and then his company (Nancy Pelosi investor) will build a pipeline under the lines to ship underground water to Dallas. The greens would stop the pipeline but once the green lines are in place the pipes will be green and the cotton farmers in West Texas will get screwed by T Boone and his gane of rent seekers.
The corruption of the US political class is more sophisticated than in the Phillipines and more profitable.