How Republicans Are Convincing Themselves That A Debt Default Wouldn't Be So Bad -- And Why They're Wrong | TPMDC

I'm not accusing Druckenmiller of anything, I have a lot of respect for him (other than this moronic position), but I'm willing to bet that while he's saying this, he's ready to go MASSIVELY short if it even starts to look like there's a possibility that someone might suggest that Congress might even THINK (seriously, not bloviatingly) about defaulting. Given the requirements of the ratings agency to rerate on default, and the inability of many funds to hold any defaultee, the system would blow up.

How Republicans Are Convincing Themselves That A Debt Default Wouldn't Be So Bad -- And Why They're Wrong | TPMDC