Krugman has this to say about it:

For those not familiar with how financial markets work, US Treasuries are the ultimate safe asset, used as collateral for everything. Even a hint that some Treasuries might not be honored could bring everything to a screeching halt

Musk and Trump are both in the habit of stiffing people they owe money. If markets even suspect that this habit will extend to Treasuries, God help us

  • KinglyWeevil@lemmy.dbzer0.com
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    15 hours ago

    It’s really difficult to tell to what level and for what end they’re trying to collapse the country. Is the goal just a grift? Is it to secure permanent corporate governance? Is it to collapse the US for techno feudalism? Is it to utterly annihilate the US on behalf of a foreign nation? All of the above by different individuals?