If Congress fails to extend the debt ceiling, the US government will default and will not be able to pay its bills, and financial markets around the world, which have never seen this kind of clusterf**k before, will crash, and every member of Congress, the richest of them on top, will lose half or more of their assets in no time.
The point where the next increment of debt absorbs the next increment of deposits. The treasury curve will not extend. The depositors simply cannot get an estimate of future debt in sequence to accommodate the arrival of the incremental loans. The system is over run.
No comments:
Post a Comment