On: The U.S. Debt Ceiling Expired on March 1 and Nobody Cared – But They Will

[dfrage]

Your theory proved correct in the 1970s, things got so messed up "everything" rose, both unemployment and inflation driving a stake into the heart of the Phillips Curve, and what people demanded to buy private or Federal debt. The latter got so bad "Carter bonds" were created, denominated in West German Marks or Swiss Francs: https://en.wikipedia.org/wiki/Carter_bonds

[ohiovr → dfrage]

Very interesting. I did not know non dollar deominated us treasury debt exited.