DEBT CEILING - DC ALREADY HAS A DEAL WEEKS AGO
LINK TO TWITTER THREAD HERE DEBT CEILING okay, here's how DC works. thread 1/ We are talking about the largest empire in the history of the world, the United States of America. Such empires don't function on "last minute deals". Everything is decided upon on consensus way in advance. 2/ DC politics, is 95% performance acting, and 5% Consensus Politics behind closed doors. In 2011, McConnell and Biden had made the deal weeks in advance, but the Performance Show went to the last minutes, even causing S&P to drop USA from Triple A to AA+ rating. 3/ But, and that is a beautiful 'but' which is related to the current situation as well. S&P dropping USA to AA+ caused a de facto Technical Default in Shadow Banking. You ought to understand the entire financial game is in shadow banking. 4/ This is a short and sweet easy explanation of Technical Default, not to be confused with Financial Default. Financial Default is when payment of interest is not made. Self ev