Here commenting about today:
“The external position is about the same, but I think the governance has weakened and the fractiousness of the political settings is much worse, and that has led to government shutdowns, it’s led to fears that the government might default on its debt because of the debt ceiling, and it’s led to a failed coup d’état on the 6th [of] January, 2021.”
And here a couple years ago:
"I don’t think the chance of a default because of a debt ceiling is that high as long as the Democrats control both Congress and the White House, that won’t always been the case. That could reemerge."
Because, this:
The Wall Street bean counter who trashed America’s global credit reputation is a New Yorker who never studied economics, majored in literature and philosophy, and has a master’s in English lit. ...
Chambers grew up outside Kansas City, Kan., and went to liberal Grinnell College in Iowa, where he was a star on the swim team, ranking eighth in school history in the 1,000-meter freestyle. After graduating in 1977 with a bachelor of arts in literature and philosophy, he went Ivy League, enrolling at Columbia University, where he got a master’s degree in English literature. ...
S&P was found to have made an estimated $2 trillion error in its 10-year deficit projection but brushed that aside, citing instability in Washington and the fact that the deficit-reduction cuts fell short of S&P’s recommended $4 trillion.
