And the Word of the Day is: Default
Jeffrey C. Borneman | December 13, 2014
Could the US default on its obligations? It's a taboo topic outside certain circles but the idea is now going mainstream. How could the US default after taking in record tax revenues for the past several years? And could the falling Energy price launch the US into a default?
Charles Hugh Smith argues for it today as does Simon Black. Never heard of them? It's okay; not every economist is as famous as Krugman or Summers ...