Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month.
Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck, and economists are warning of financial crisis if a default does occur.
https://thehill.com/policy/finance/3845901-bank-of-america-ceo-preparing-for-us-debt-default/amp/
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more fear porn. both sides continue over many decades to play brinksmanship and then pass legislation that both sides claim is a victory.
More of the same here.
But there is no victory there - just kicking the can down the line.
Until the can cant be kicked - and that time is likely now. Maybe not - but the petro$ is fucked,
and without that the US ability to fund itself is fucked,
and without that the US is left ...where?
Fucked.
Unless there is some new hedge - how do you see the US coming out of this?
😂. You poor thing. You have what is called - Normalcy bias. Look it up.
this is standard risk analysis and planning from EVERY organization. Financial professionals can certify in risk management. Go look it up