Now that we are staring at the possible end of the world — or rather, the possibility of the US defaulting on its payment — I am an optimist (hey, the yield rates are still low. That gotta mean something). In any case, a default would likely be temporary. Never mind that the US can still prioritize its payments to prevent default by suspending some relatively non-essential government operations.
Even if it would be more serious like the one in Greece, I have made my position known: the market can live without government bonds. The short run would be ugly. But in the long run, we will be fine.
