We’ve become bored of used to the perpetual prospect that self-inflicted political ineptitude in the Land of the Free might take the world’s ultimate ‘safe asset’ into default. Yes, this could wreak havoc and devastation across the financial system, bring about the end of days, etc etc.
Thankfully, Congress punted the issue into the long grass of January 2025, granting us all a holiday from having to analyse this painful effort of performative political narcissism.
TK REWRITE: But even though the default discourse usually gives off more heat than light, some genuinely new and interesting details emerged today, via Nathan Tankus.
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