Raising the debt limit – as the federal government has continued to do for decades, now – constitutes a stealth default.
When individuals “default”, as we have seen, you have contemptible bureaucrats, in league with predatory lenders, evicting them and their children from their homes. When the federal government defaults nobody even notices, except Max Keiser:
Update: Mish Shedlock points out the
hypocrisy of the conflicting Obama positions on raising the debt ceiling. I mean ambiguity.