I think Democrats made a huge blunder by not raising the ceiling or simply getting rid of it during the lame duck session. The nutjob wing of House Republicans will certainly try blackmail. The crazy thing is that the ceiling is for spending that has already been approved. They could have simply not approved the spending at an earlier stage. But that would have meant hard decisions; so much easier to kick the can down the road.
I can’t believe that TPTB will let the U.S. default. The nutjobs will lose, or the Treasury will issue several trillion dollar coins. I’d be surprised if there aren’t already designs, or maybe even dies.
This is the economy as a whole these days and while bad for us, it is great for the 0.1%, as it means they have endless supplies of money coming in that they convert to real value assets.
It won't default, but I am really thinking they will make it look close and buy the dip.