The CDS Armageddon Count Up - US Risk Passes 100 Bps

US CDS mid passes 100 basis points (full market 95/105)... obviously historic event. Some traders call this the doomsday count up as the higher it goes the dumber you have to be to buy it (as you will never collect on any insurance), and the likelier it is that the end of the world is nigh. If this had to be quanitified in terms of colors, the equivalent would be a deep shade of burgundy.