US Default Bomb Goes Off!

When it rains it pours and America is about to find out what the new economy is going to be. Either severe austerity or rampant stimulus with inflation  But no middle class will be left either way.

                                                   serf

           https://www.zerohedge.com/markets/us-default-bomb-goes-2020-will-have-record-number-large-corporate-bankruptcies

The spike in bankruptcies comes despite trillions of dollars in government aid to mitigate the fallout of the coronavirus pandemic on businesses, highlighting the catastrophic and lasting impact Covid-19 is having on the US economy. Or perhaps those trillions in government aid are going to the wrong recipients, and as a result companies that stand to benefit from mass defaults are now sporting record market caps. In fact, the irony is that in its pursuit to crush monopolies such as Amazon and Google, the government has made them bigger and stronger than they have ever been.

Meanwhile, with the US economy driving right over the fiscal cliff as Congress failed to extend emergency covid benefits, sending spending by those receiving Unemployment Insurance sharply lower...