While experts continue to describe a possible U.S. default in calamitous terms, one Republican congressman isn’t nearly so worried.
“I think, personally, it would bring stability to world markets,” Florida Congressman Ted Yoho told the Washington Post. ”I think we need to have that moment where we realize [we’re] going broke.... I’m not going to raise the debt ceiling.”Salon
GOP congressman: U.S. default would “bring stability to the world markets”
Elias Isquith
5 comments:
Sounds more like "Ted Yo-yo"...
This level of stupidity is absolute proof that you have to prepare for the worst possible outcome.
Looks like we are going to close at the lows Mike...
If we start to go down everyday this week I think this eventually may get bipartisan attention to at least pass a CR for now...
But who knows how much lower on the indexes...
rsp,
Mike,
Check it out another $6b day on Friday:
https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=13100400.pdf
This is major league austerity...
Look for the liquidation to continue this week imo until we at least get a CR or one is seriously being talked about...
rsp,
"This level of stupidity is absolute proof that you have to prepare for the worst possible outcome."
Right..... So being long Treasuries, assuming a flight to quality, would not be the worst thing in the world to do.
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