Oct. 7 - A U.S. government default would be entirely political and temporary, but risk gurus must try to prepare for it nevertheless, argues Breakingviews.
So second we get a shot down still no lines at the end of the tunnel we thought it's time to revisit this story with Edward had us -- when you you you wrote a piece on following day. Com that it. At about the risk manager what was manager should do you talked about a -- survivalist -- failure maybe now's the time direction polonium well. If only you could. You -- you have this problem that it's very hard to take seriously. Especially sitting in Europe we look at this these days. What's with listener they're not there worsen the Italians the fact that he. But. Did they are and they seem to be here they seem to be remarkably dedicated to bringing the US fiscal system and the -- of global financial system to the brink of some sort of cliff. President Obama called on the markets to please induce a little panic so that we can get the Republicans to our round. It -- but yes -- unity if you're risk management going to be looking at this -- They're crazy that we should be prepared and then you with your performance in what should we didn't at which we do. I don't go if one doesn't have a mean. The first he should do is you should try and stay calm because there's really nothing to worry about we keep hoping fingers crossed. It seems extremely unlikely that the US will actually. Trash the world's financial system. And even if they default technically for a day or week or whatever. Even if they saw in the US economy -- these furloughs and eventually you'll recover from map that's by far the most -- or whatever or get. That it I mean you got lost time this happened we lost what 1112% on the CS entity. Divx -- upper fifties finds sixty -- -- were pretty low now to twenty of their bout but it's it's it's heading up that. We don't wanna get to that you know we saved for editing jobs that could you tell the Republican legislators in the US north. We haven't the other way you -- the Democrats do is when you make a compromise -- get this thing out of the way. While waiting what torture review of what -- I mean respect isn't for portfolio managers. What are some sidelines and and and just -- -- that their clients' money on the sidelines and -- see what happens. You know I know I possession I I think it's impossible position for this and this is the key point in this piece is that. If you think about it if the US were to actually induce a global financial panic it's an avalanche that goes in unpredictable directions. I'm around the world don't know where people are gonna freak out -- You can't really. Gets get. Insurance against that kind of prevent -- are furious survivalists that in the US served somewhere you can you know -- shotgun you're ten foods in -- ready for anything. Are you you actually can't be ready for anything in -- portfolio you certainly can't be ready for the anchor of the world's financial system to get lost Jimmy joining the US standing. Has taken and -- irreparable hit as a result of this again. And I think you DUS standings and taking small irreparable hits for the last twenty or thirty years this is another one I don't think it says. This isn't the deal breaker for the US is reserve currency here for the dollars as the currency for the US is global standing but it's. It's another little little dent in the impression on me and in the image of this of the country. Okay that was many things that -- had us. If you watch our US outbreak TV show -- told police incident that he bsc. What's this one on the -- of course in front piece that would -- alma breaking news website. I'm -- problems is --