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Explain how. reporter: the u.s. economy is in a delicate place for reasons we awk about but as mark zandi told me, the closer we get to not being able to pay our debt, the closer we get to a recession. if the u.s. actually defaulted on its debt which it has never inte intentionally as you pointed out would set off a chain of reactioned. first government contractors, vendors and such not being paid, a whole slew of them not being paid but rates for government get going up. u.s. government debt is considered basically risk-free. a safe haven investment but if suddenly investors start to feel like the u.s. government can t pay its debtors obligation, those rates go up then that has an impact on all sorts of consumer borrowing. think higher mortgage rates, a higher, smaller business loan, higher auto loans, all of those things, it would have an impact to the financial markets as this creates jitterness, one market ....
We already accumulated. it has nothing to do with future spending. so, what happens if congress let s say fails to get to some kind of agreement and they either don t extend it, in other words, what happens? what happens? we default on our external debt, the dollar could go down significantly, interest rates could spike up as overseas investors or any investor for that matter who holds u.s. treasury paper becomes concern they re not going to get their principal payments back, that s a very extreme scenario. that s never happened in the history of the united states. if we default on the debt, we re among the highest quality debtors around the world. that could shake financial markets in a way we haven t experienced in some time. republicans are preparing an emergency plan if the u.s. hit a debt ceiling. ....
How realistic is it to say, let s start fresh ? i think that s the only sustainable solution when it comes to a debt crisis. this was recognised by the global community at the beginning of the pandemic. when the pandemic hit, the g20 set up a debt relief scheme in order to address these crises. the only problem with the g20 scheme was that it s not really had many countries that applied for it. only three countries applied up till now. this week, a fourth country, ghana has applied. none of them have seen consolation altogether. and that is the problem with the scheme. there was no way to compel private lenders to come to the table and negotiate their cancellation. given that almost half of all global health debt repayments are paid to private creditors, such as banks and hedge funds, without them coming to the table, it s very difficult to negotiate effective debt cancellation. ....
A U.S. Trustee filed an objection on Saturday to plans by bankrupt crypto exchange FTX to sell its digital currency futures and clearinghouse LedgerX, as well as units in Japan and Europe, according to a court filing. FTX filed for bankruptcy protection in November and said last month it planned to sell its LedgerX, Embed, FTX Japan and FTX Europe businesses. ....
For most, cash flow slumps over the festive season so make sure you keep a healthy ledger. While the festive season has many of us excited for shutdown periods and well-deserved time off, it also ....