The Worst Case for Default

There are people who, let's say that we thought default was a probability and all the smart people also think that should we talk about the potential workarounds there. Janet Yellen or listen to her speeches and she has reiterated this over and over again, she considers that to be a default. It's like if someone getting social security checks or even just a federal employee doesn't get their pay that they've been promised, then that is the government reneging on a promise of the US government. And we should and that would be catastrophic in and of itself.