I think we are headed for a Great Depression.
The reason as it stand now the debt ceiling wont be lifted.
A Great Depression is where we are currently aimed.
IMO, no. There may be a recession, but the whackos in Congress who want to shut down the govt will be removed (by the voters) when the economy goes down and everyone is pointing at them as the cause.
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The main concern seems to be rising national debt and inability to control spending.
We do have abundant resources and assets. Those who think our ability to borrow is unlimited are a threat. For global investors the US is the safest investment. What is their alternative?
If that ever changes we are in deep do do. Threading the needle becomes more challenging.
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