Friday, July 15, 2011

US privately preparing for default?

I still don't know what will come of all this, but despite all the reassurances by politicians that the limit will be raised it's starting to look like it may not be.  What then will happen?  Catastrophe?  Fiscal sanity?  Are the two sides fighting this out in order to achieve political advantage even if there is a significant downside risk?  Could we really, truly see some major repercussions from this? 
A lot of unanswered questions out there at this point...

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