It is equivocal that a bond market dislocation could bring 0bama down. If it does, then the rest of us will be living in a financial near-collapse and a recession/depression far worse than what’s currently going on. Be careful what you wish for, in this case.
I certainly agree that no one should be rooting for this. This will be economically painful to all. That said, I think it would bring perpetual, recession and possibly depression, until November 2010 and then Democrats will get crushed. Then, there will have to be a reverse in policy and we’ll begin to get out of the recession.