The Role of US Debt in the Debt Ceiling

Our very first episode a year and a half or so ago was on the debt ceiling. And here we are again. So yeah, we basically the United States might be in default soon. It can't pay its bills. Sri Lanka had a default last year. But you know, this was not a global crisis when Sri Lanka went into default with America is a different story. If America goes into bankruptcy, essentially, it could be a kind of global catastrophe. Why it matters is held all the world around to the tune of about seven plus trillion dollars.