I'm struggling to reconcile the averred cataclysmic consequences of a U.S. default (electrons would become unbound and the earth turn into plasma) with why Democrats won't take simple unilateral measures like minting the coin, amending senate rules, or ignoring the debt law.
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If it's just a case of default kicking Wall Street in the nuts for a bit, then I'm all for calling this bluff. But I'd like to read something informed about the systemic effects of floating US treasury checks for a few days
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What if we defaulted just a little bit. Not all the way, just for a moment, just to see how it feels.
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There was a bunch of such writing around the last big debt ceiling crisis in 2013ish.
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Yes, I think that’s the underlying premise of Cormac McCarthy’s The Road.
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we’ll be stuck with a peed-on rug
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Isn’t the entire financial system built on the idea of AAA, and US not defaulting? US default would be like “undefined behavior” in C.
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UB is extremely common though
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