Even today, the price of insurance on a government default has been higher than that for Colgate Palmolive, the global toothpaste giant, which has a rating two notches below AAA.
From the televised speeches of Obama and Boehner, to the hard-line tactics of the Tea Party, to the pitiful cobbled-together agreement the House put together late Friday - there has been no shortage of grandstanding, posturing or spouting of rhetoric.
Considering how enormous the U.S. debt load currently is (roughly $14.5 Tn), higher interest rates would add a crippling burden to an already high burden.
Today MSFT is effectively a 68% foreign operation. In return they get all the benefits of stimulus and minimize the costs of supporting the US system... One of the big economic winners, Apple Computer, is even worse...
Podcast of Lee Adler and Russ Winter at Wall Street Examiner discussing the debt ceiling, gang of 6 and the impossible situation facing the government.
