Heresy Financial
Apr 28, 2023
Here we are yet again clamoring about the debt ceiling. The showdown between Democrats and Republicans on who can give the least ground. One side wants spending cuts while the Treasury notes they have received only a little over half of the expected tax collections from 2022. Meanwhile, big money is placing one of the biggest bets ever on the value of treasuries dropping and the cost of insuring against the United States.
Defaulting on its debt is currently higher than it has been since 2011. I will show you why all of this is just noise, whether the debt ceiling is raised or not raised, whether inflation or deflation takes off, whether rates stay the same, go up or go down. It is all a distraction from the reality that a default is inevitable, a reality that the United States can simply not escape.
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