Even if we miss the October 17 debt ceiling, it won't be the end of the world.

Many economists have repeatedly warned that any default would come at the end of the month at the earliest.

To clarify, the debt ceiling is when the U.S. Treasury will no longer have the authority to borrow money by issuing bonds. However, it will still have around $30 billion in cash to continue financing its obligation. It's only after that cash runs out that we have to start worrying.

This understanding may explain why the markets continue to be so calm.


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