The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. NEW YORK ( TheStreet) -- Squabbling on the super committee; political leaders putting politics and re-election ahead of the nation -- again. America is in the midst of a crisis and politicians are worried about their popularity. Getting re-elected should be the least of their worries. If the super committee decides to roll the dice like Congress did in August or go for minimum cuts, put your seatbelt on. This will inspire more discussions on credit downgrades, settling trades in a currency that isn't the greenback, and reform of the global monetary system, which has the dollar's primacy as a reserve currency in its sights.
Would the discussions lead to action? A failure of the super committee would add a ton of fuel to the fires that are already burning under these discussions. The world at large is tired of the American superpower's privileged currency residing in a house of financial ill repute.