This is going to be a quick hit. But I thought I should put this out there now that the Platinum Coin idea has been rejected, something that makes this downside scenario more likely. The idea here is that we are in an interregnum period similar to the 1933-1937 period that will unfortunately come to an end. I'm going to spell this out briefly because it highlights my guiding macro thesis for the past few years on the US.
John Carney at CNBC has written a good column today detailing the Obama Administration's negotiating position in the debt ceiling crisis. President Obama does not want to use 'The Coin' or the 14th Amendment or any other tricks to keep this from spiralling out of control. The thinking here is that by just playing this straight, it will put pressure on Republicans to eventu...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.