On Friday, Mitch McConnell announced that there would be zero Republican votes to raise the debt ceiling.
Today, the Dow Index is on track to lose close to 1,000 points (written noon PDT) or 2.72%
The FTSE 100 (London) is down 59.73 points or 0.86%
The DAX (Frankfurt) is down 358.11 points or 2.31%
The CAC (Paris) is down 114.38 points or 1.74%
The Asia DOW is down 39.14 points or .98%
The Nikkei (Tokyo) is actually UP 176.71 points or .58%
The Hong Seng (Hong Kong) is down 821.62 or 3.30%
The Shanghai is UP 6.87point or .19%
The Sensex (India) is down 524.96 or .89%
And finally, the Singapore is down 29.30 or .96%
The media is raging about how this is all on account of a China real estate firm, Evergrande, that could possibly default on $300 bln in debt.
And the media is completely SILENT on McConnell’s threat not only jeopardizing nearly $29 TRILLION in US debt not being paid, not to mention the fact that much international finance is based on the US dollar as a means of exchange.
Am I missing something or does this sound like the media have completely gone over to the dark side and giving Republicans a pass on their threat?