US Default Possibility and Consequences: Peter Cohan
http://www.annuitynewsnow.com
The United States seems to be on the edge of an unprecedented default, as the Aug. 2 deadline for Congress lifting the limit on the amount it can borrow fast approaches.
Currently, the world faces its own "stress test" -- a test of confidence in the world's largest economy and the possibility of another financial tsunami. Though the chance of default is low, it already has a price.
Politicians in Washington have been locked in hard bargaining on the debt issue. But, to the outsiders, the process looks extremely complicated and hard to understand. Peter Cohan Says the chance of default is low and the consequences may not be as bad as one might think.
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