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World Stock Markets Trading Discussion - Ornamental ossification


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Of interest to Lee perhaps. The NY Times lays out the official narrative of the debt ceiling. Of note is the probability that the ceiling will not be raised soon as the Treasury starts to "prioritize" payments.   Good for the markets, bye bye constitution.

 

 

 

https://www.nytimes.com/2017/08/07/opinion/debt-ceiling-congress-default-real.html?ref=opinion&_r=1

The 10% decline of the dollar this year has wiped out a comparable 4-5 years of interest income for foreign investors (if they were not hedged). Why would Treasuries and US dollars be considered a store of value, if the Treasury goes into default?

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