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Default by the US government is no longer unthinkable
...Check out the chart showing the recent spikes in the US 10-year credit default swap. In other words, the market is now pricing-in the genuine possibility that the US will struggle to pay-back some of its long-term T-bills.That possibility is still deemed to be quite low. But the ultimate financial question - until recently, unthinkable - is now being asked. Yes siree, the mighty US government could default. That's how much the world has changed. Posted by: Anonymoose 2008-09-22 |
| http://www.rantburg.com/poparticle.php?ID=250679 |