I hope markets don't panic and I think the chances of an actual default are extremely low. However, I don't think the chances of a default are zero. Everyone I talk to seems to be saying "A devastating default [i.e. not like the brief blip in 1971] has never happened, therefore it cannot happen." Which doesn't seem like sound reasoning to me.<p>I imagine there's no escaping the fallout of such a default, but I'm thinking it may be time to take a break from treasury ETFs for while.
I dread an actual or “technical” default but I think a line in the sand needs to be drawn.<p>Government freebies and overspending caused incredible harm to the general public as it contributed to inflation over the past few years. Real incomes are painfully down and the average person is much worse off.<p>We’re now paying close to $1T per year in interest alone on bloated US govt debt.<p>Enough is enough. Government spending needs to be cut.<p>Edit: those who downvote, what exactly do you disagree with in the above?
We seem to do this every few years, no? Isn’t this just a re-run of political brinkmanship and posturing from the time before, and the time before that? Sure does seem to get the clicks, though.