it's theater, but all of the US is a stage and we are the captive audience of a play called Ideology.
if they default, I don't see how the cost of borrowing won't go up even more because federal government would be downgraded as something below AAA by ratings agencies. or maybe they wouldn't dare?
the irony of not making payments on debt is that the cost of making the payments go up. the lenders are the ones who benefit from this, because they can claim it's higher risk to lend to the US govt.
my view is that this is all a bunch of priests arguing about how to best serve an mysterious god called "the market". rest assured whatever they decide to do will be best for themselves and shittier for us.
it's theater, but all of the US is a stage and we are the captive audience of a play called Ideology.
if they default, I don't see how the cost of borrowing won't go up even more because federal government would be downgraded as something below AAA by ratings agencies. or maybe they wouldn't dare?
the irony of not making payments on debt is that the cost of making the payments go up. the lenders are the ones who benefit from this, because they can claim it's higher risk to lend to the US govt.
my view is that this is all a bunch of priests arguing about how to best serve an mysterious god called "the market". rest assured whatever they decide to do will be best for themselves and shittier for us.