We look at the charts of the banking and Fed balance sheet data, and current tax collections, in the context of the above heading. The failure of the government to raise the debt limit will mean that the US Government will run out of cash to pay its bills within the next few weeks. The Wall Street cognoscenti, who have no sense, see that it will mean the end of the world. Non-subscribers, click here for access.
I think that AI will end the world before a US technical debt default will. No doubt, given the rabid dogs in charge of the issue in the House of Representatives, there will be a technical default. They don’t care about the consequences, predicted or otherwise, because the vast majority of them are in safe seats backed by voters who don’t care and know even less. The only thing that matters to them is to stick it to the “woke” crowd. A debt default would certainly be one way of sticking a finger in the eyes of the woke. Non-subscribers, click here for access.
So my wild guess is that it will happen. Non-subscribers, click here for access.
But wait! There’s more. And you need to know what that is if you want to play to win. Or at least to save your skin. Non-subscribers, click here for access.
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