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The fund is not concerned about the debt ceiling. The are concerned about the US threatening invasion of its allies. The debt ceiling is literally not a proble
by epistasis 9mo ago
The fund is not concerned about the debt ceiling. The are concerned about the US threatening invasion of its allies.
The debt ceiling is literally not a problem at all, unless the US were to do something as monumentally stupid as to stop allowing its GDP to grow through trade, and devalue the US dollar, in which case everybody flees US treasuries, resulting in collapse of value, causing more people to flee UST, etc....
The debt hawks are very wrong about the fundamentals of currency, but they are less dangerous than the war hawks in the White House to the US's economic future.
It's one thing to do a epically stupid invasion of Iraq on faked intelligence, which ally support. It's another thing entirely to invade allies. It will totally end US dominance in the world.
- mythical_39 9mo ago"The decision is rooted in the poor U.S. government finances, which make us think that we need to make an effort to find an alternative way of conducting our liquidity and risk management," Investment Director Anders Schelde said in a written statement. "Thus, it is not directly related to the ongoing rift between the U.S. and Europe, but of course that didn't make it more difficult to take the decision," he added. quotes from the Reuters article
- jimnotgym 9mo agoAnother case of, 'well they would say that, wouldn't they'
- epistasis 9mo agoIndeed. There was a progressive slate elected to the board of this pension fund a decade ago, to facilitate oil divestment: https://bsky.app/profile/runestahl.bsky.social/post/3mcuyopnn5s2l https://bsky.app/profile/runestahl.bsky.social/post/3mcuyopn... Doing a small amount of CYA as a fiduciary, while causing bond rates to rise, is merely prudent.
- whimsicalism 9mo agoThe fiscal trajectory of the US absolutely matters for growth, inflation expectations, tax expectations, and government capability.