There's not a doubt in my mind that you will see a spate of municipal-bond defaults.
Sentiment: NEGATIVE
We are spending more money on bond holders than we are on our own citizens. It took 204 years to have this happen. The other party will not even allow a recorded vote on this issue so that we can see how people stand on that issue.
I'm afraid sometimes certain individual cases of defaults are unavoidable. What we should do is to step up monitoring, properly handle relevant matters, and ensure there is no regional and systemic financial risk.
After everyone has had a chance to bluster, posture, and pontificate, we are left with one basic question: under any foreseeable circumstance, would it be in our national interest to default on our debt? The answer is unequivocally no.
I think everyone who goes to see a 'Bond' movie expects to be impressed by the look and the locations chosen. Certainly I was when I grew up watching them, and I don't think that's changed in the last 50 years.
Public borrowing is costly these days, true, but interest rates on municipal bonds are still considerably lower than those borne by corporate debt.
I think if you go beyond a year - if this continues into the system in the out years, I think there is a risk and that - that we could have a negative reaction in the bond market and that will offset the good that was attempted to be done.
I don't think they'll ever make a retro Bond.
I believe that national sovereignties will shrink in the face of universal interdependence.
When men change, maybe Bond will change. But let's wait. I'm not holding my breath.
It is very difficult to predict when a bond crisis could happen.