" US is about to default technically by not raising their debt ceiling." 1. currently it costs 40,000$ to insure 10,000,000$ US debt, versus 1,700,000$ to ins

" US is about to default technically by not raising their debt ceiling." 1. currently it costs 40,000$ to insure 10,000,000$ US debt, versus 1,700,000$ to insure equivalent Greece debt. though CDS prices are definitely trending upwards http://www.structuredcreditinvestor.com/industryresearch/ http://www.structuredcreditinvestor.com/industryresearch/ 2. like meredith whitney said on cnbc last week, partially servicing debt is a default, but the market doesn't think so. you can take haircut on coopon. Or delay coupon. All these are valid TDRs ( troubled debt restructuring) but is a TDR a default ? She posed a question - if senior citizen with a million in bonds is waiting for his coupon for meeting expenses, & you delay that coupon by a month, from his pov its a default, from mkt pov that's a restructuring. 3. Strongly agree with the rest of your thesis ie. Greece & PIGS will default. Hyperinflation in US is virtual certainity. Dunno about US technical default - we'll end up doing that from an accounting standpoint, but then get creative about the nomenclature.