Is there good expository writing anywhere about what would actually happen if the Treasury respected the 'debt ceiling' and defaulted on some payments for a few days?
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Do we need someone to jump on the bed next to us, so we can default a little but not actually do the defaulting ourselves?
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Then we’d be Evergrande, having already missed a payment but not yet Officially Defaulted thanks to a thirty day grace period.
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You mean like maybe just default on the Treasury Inflation-Protected Securities?
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I myself am a huge fan of the world having this whole, "risk free asset" thing, even though old people bitch a lot about it not paying high enough interest. It's like a basis or discount rate for everything. Kind of feel like that egg's cracked once we default even "a little."
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