So the US government is having a little argument about the debt ceiling again. China and Japan have warned that a US default might be a little nasty and even the President himself has warned of financial Armageddon.
So why are the markets so sanguine? Where's the panic?
Well we all know there will be a last-minute deal, it's like those clichéd cop dramas where you know the protagonist is in no real danger. If there was any doubt in your mind take a look at the appointment of über dove Janet Yellen to the chair of the Federal Reserve. A sure signal that they plan to print to infinity.
Back to sleep everyone, no story here.
The US government have no option but default, the only question is when, but that my friend is another story.
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