S&’s yell ,”shark!”, and everyone runs into the water instead of out of it
These days the headlines ‘calamity’, the ‘disaster”, ‘financial Armageddon’, and the”Titanic sinking” are used to describe what will happen if Congress refuses to pass the debt ceiling authorization in a timely manner. If the U.S. government defaults on its sovereign debt obligations and other payment obligations, there will be an immediate downgrade of our trillions of dollars of debt to something less than AAA. This will cause enormous upheaval and increased interest costs, thus exacerbating the already enormous burden of debt the country shoulders. These events could lead to an uncertain chain reaction of cascading financial upheavals around the world; … Read more