Tell me about the jam

The Fed is supporting a safe rate, the ten year. Goldman and company guarantee that rate to wealth which in turn promises to roll over the debt.  But taxes plunge much more rapidly than the conspiracy has liquidity.  The senate shutdown looms.

What programs shut first? Contracts with a future price increase built in. the contracts with built in currency insurance get shut. They get shut because they guarantee violation of the safe rate contract.  So, we can call the process a currency insurance failure, and the ten year safe rate a currency insurance function.  There are implied and explicit trust funds backing up those fixed rate promises, and they pay out much of the insurance losses.  But, it happens quickly and the parties jam up in re-negotiations with Congress.