Okay, it’s well-known that Biden was the stupidest man within the US Senate. And with Washington’s Patty Murray within the Senate, that is sort of an accomplishment.
But Biden is President and continues to be silly and spiraling down the dementia rabbit hole. He’s blaming Republicans for his or her budget proposal to finish the debt ceiling crisis despite saying previously that he would negotitate. Apparently, Biden’s puppet masters are telling him to risk default by playing the blame game.
So, US credit default swap (CDS 1Y, SR, EURO) price stays elevated which indicates that Biden, Yellen and Schumer may very well default on US debt.
As M2 Money growth crashes and burns, the US Treasury 2Y-3M yield curve inverts to lowest in history.