Defaulty Towers: How dangerous is the US Debt Ceiling?
Many Happy Returns
00:00
What Would Happen if the US Government Didn't Pay Bondholders?
US debt, US treasuries underpin the entire global financial system. Moody's Analytics estimated that it would cost American households around $15 trillion in wealth with stocks dropping by as much as a third overnight. But I think a lot of people would question the viability of the US government if this happened. So having said all this, it's probably unlikely to happen, right? We think that they will be some sort of resolution. But what happens if there isn't? What if there's an accident, Roman?"
Transcript
Play full episode
