The debt ceiling debacle: Could it derail the 2023 bull?

Remember August 2011?

Debt ceiling is still distant, but the narrative should start picking up steam. The US was downgraded on August 5, but that was rather late for the ones that tried to buy protection post the actual downgrade. VIX made the low in early July around 16, and shot up to almost 50 a month later. It is always different, but protection is to be bought "when you can, and not when you must..."