3 ms·
It's more complicated than that. I'm not a finance insider, but I'd imagine the real damage from this lies in the derivatives market. Finance is to tightly inte
by SnorkelTan 3y ago
It's more complicated than that. I'm not a finance insider, but I'd imagine the real damage from this lies in the derivatives market. Finance is to tightly interconnected these days. Something as bedrock the U.S. defaulting on its debt would probably cause a serious depression that exceeds the great depression.
- adam_arthur 3y agoAs I said, “financial crisis and market crash”. Treasury holders will get paid in the end regardless. But the government can continue to service debt by stopping all operational expenses, e.g. furloughing employees. So hitting the debt ceiling does not mean an immediate default