But isn't there a difference between a general concern over deficits and concern over an imminent default on US Treasury debt obligations? I would agree that a concern over deficits can be "played up" by the media but concern over the consequences of a "first in history" US default is not.
The financial crisis is always portrayed as posing some kind of different and uniquely dangerous danger. This is part of the game. Pay attention to the terms of the final deal. Who benefits and who is the money extracted from?
But isn't there a difference between a general concern over deficits and concern over an imminent default on US Treasury debt obligations? I would agree that a concern over deficits can be "played up" by the media but concern over the consequences of a "first in history" US default is not.
The financial crisis is always portrayed as posing some kind of different and uniquely dangerous danger. This is part of the game. Pay attention to the terms of the final deal. Who benefits and who is the money extracted from?
Then you don't believe that the prospect of a Treasury default is different and uniquely dangerous when compared to a normal concern over deficits?