The Risks of a Technical Debt Ceiling

If the US defaults, everything else in your portfolio will be limit down twice. The risk is to the global financial markets that could be limit down because the US, the base layer of money and collateral in the global financial system, stop making its payments on time. We're not trying to get you to run out and sell things or short things. What we're primarily trying to do is to stop you from buying things towards or near the high.