Yo, they just had 0b in their account at the Fed and they can put IOUs in the FERS for a couple hundred $B… there is no hurry… they can spend their account down to zero in several months… and they don’t need some stupid “coin!” …. they can take the rest of the summer off and worry about this in the fall…Secretary Janet Yellen said the Treasury Department will begin special steps to avoid breaching the U.S. debt limit, while urging lawmakers to act “as soon as possible” https://t.co/NI5U7M905m— Bloomberg Markets (@markets) July 23, 2021
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Jeremy Smith writes UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Lars Pålsson Syll writes Schuldenbremse bye bye
Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
Yo, they just had $700b in their account at the Fed and they can put IOUs in the FERS for a couple hundred $B… there is no hurry… they can spend their account down to zero in several months… and they don’t need some stupid “coin!” …. they can take the rest of the summer off and worry about this in the fall…
Secretary Janet Yellen said the Treasury Department will begin special steps to avoid breaching the U.S. debt limit, while urging lawmakers to act “as soon as possible” https://t.co/NI5U7M905m
— Bloomberg Markets (@markets) July 23, 2021