The United States is constantly borrowing money. And his reputation as a borrower is well established. If you lend money to the US government, you are very, very sure you will get it back. But what happens when this reputation for reliability is called into question, if only a little?
As the debt ceiling expires, we are granting a loan to the US government. We buy our own small slice of public debt. And then something happens that we really didn’t see coming. This story plus the story of a $ 12 billion error.
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