Dumb Trump supporters raise mortgage rates, reduce money for Social Security and Medicare, and Make America A Laughing Stock.

  • hitmyspot@aussie.zone
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    1 year ago

    It can be smart money thinks it’s fine, or smart money has already priced in the risk due to the trump years.

    • solstice@lemmy.world
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      1 year ago

      That’s always possible I suppose but I don’t think so. The crisis in 2011 rocked markets for months with monstrous daily swings up and down. There was barely a blip when fitch downgraded the debt and during the last few debt ceiling impasses.

      Personally I think it’s pretty clear at this point that it is just theater and they’ll never allow a default. The reason being, all of congress is too wealthy and heavily invested in stable world markets, and obviously in the pockets of their corporate overlords who feel the same. A default would be catastrophic so it’s just not going to happen.