We need to get the message out that there will be no default unless someone deliberately makes that choice and a credit downgrade is coming anyway.
-——a credit downgrade is coming anyway.-——
The message yesterday is it’s Tea party fault if down grade happens. The down grade is certain. The Fed is responsible for the downgrade. The coming rise in rates has been known since the real down grade, the announcement by PIMCO in January it was out of US securities. S&P and Moody are actually late in making the announcement. The announcement is now tainted, stained if you will, with politics.
The rise in rates will be necessary to dredge up some customers for bonds. Every body knows it