No debt crisis?

Which brings up a second reason the U.S. needn’t worry about the debt in the near term. The strong appetite for Treasuries means that the U.S. government can meet its debt servicing needs by issuing new long-dated securities that lock in a low interest rate for a decade or more. That low rate ensures that the federal government will not face spiraling debt-service costs even as the total amount of debt rises sharply over the next few years.

This is an error. 

There are tow outcomes, we remain under lock down or the problem is solved.  But the problem is not solve evenly  The nations that solves the problem earlier will grab the trade it can, here is no reverse path to allocate trade patterns  It will take the US much longer to solve this as it took us to get equilibriated to this. Hence the bets made prior to the pandemic cannot be covered, and government is making the bets for us.

It is the problem of recovering the relationship between taxpayers and government spenders. The relationship cannot be established at the rate the problem is solved elsewhere. The currency crisis becomes a default crisis, mostly for the large country that holds the world's reserve currency.

It is the Nash equilibrium problem, trying to establish it. Big accounts leave first, and the looping around on this cannot happen fast enough to stop the insolvency.

If one doesn't understand TOE then one should not be making these predictions.Most of science needs to get a grasp of what is going on. Th good news is I see a lot of abstract tree analysis in the covid research, so the the information is spreading.