The great debt crash

[ajl]

U.S. debt ceiling talks halted . . . . markets beginning to sell off. U.S. government default risk now high.

Would be awesome if the debt ceiling talks would bring about a meaningful reduction in gubmint spending. That would get rid of hyper inflation and the demoncraps in one blow. Likely would have positive spill over effects north of the border as well and end the war in the Ukraine at the same time. Everybody wins.

[Old Cowzilla]

SO if you don't tell a government they can't keep spending more than they make don't you end up being another South American country ? Seems people stopped buying crap for there homes but spending money they do or don't have on seeing the world. Home depot can't get $25 for their 2/4's tsk tsk but Westjet pilot's get raise from pultry $300,000 yearly income.

[errolanderson]

Wells Fargo?

Should panic grip the U.S. Fed and government, rates could be cut cut quickly.
Market now heading from significant Fed tailwinds of liquidity to stiff headwinds.

Don’t believe anything a central banker says.

[errolanderson]

A circus . . . At the current insane pace of government spending, the U.S. government will reportedly run out-of-money in just five (5) days . . . 5 days.

[Marusko]

They won't run out of money Errol, they'll just make more. It's a doom-and-gloom show in the news when they approach the debt ceiling.... then they raise it and suddenly, all is well again. it's a circus, alright.

[furrowtickler]

They won't run out of money Errol, they'll just make more. It's a doom-and-gloom show in the news when they approach the debt ceiling.... then they raise it and suddenly, all is well again. it's a circus, alright.

Yup

[errolanderson]

They won't run out of money Errol, they'll just make more. It's a doom-and-gloom show in the news when they approach the debt ceiling.... then they raise it and suddenly, all is well again. it's a circus, alright.

There is some form of a default already in-progress (IMO). Government may be very slow payers especially for contract work, building leases. We'll see who squawks . . . .

[biglentil]

Deflation always just around the corner, all the while the currency is relentlessly inflated.

[Sodbuster]

Deflation always just around the corner, all the while the currency is relentlessly inflated.

[ATTACH]12642[/ATTACH]

I remember for a fund raiser for hockey we sold books of Macdonalds coupons that were valued 3 for 1. That was before fast food became so popular.

[jazz]

If I was PP, I wouldnt want to be PM of this country in 2025. Watch out folks. Very few will be able to qualify for higher debt servicing. BoC has been talking another rate hike. Its clear as day this is all deliberate. Govt spending is accelerating not slowing and so is inflation and interest rates. Protect yourself now.

And mere days after the fake debt ceiling fight, US printed up $25B in a single day.

Errol, you are way off on this.