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The Evergrande will solve its problem, with or without the support of the Chinese government.
The debt limit of the United States seems to be more devastating than anything else,
including the possible default of China Evergrande Group.
In August, Moody warned that the treasury would default starting from October 20, 2021.
If a bipartisan agreement cannot be reached to raise the debt limit, the default will
be inevitable, and a financial crisis will ensue.
Yellen says the debt ceiling must be raised. "The US has always paid its bills on time, "she said, "but the overwhelming consensus
among economists and Treasury officials of both parties is that failing to raise the
debt limit would produce widespread economic catastrophe."
It is important not to listen to what US Treasury officials or the Fed say, but to see what
they do, and sometimes what they say and do is not the same.
Yellen proposed to alert the US government debt may default.
The essence is to urge the House and Senate in Congress to raise the US government debt
ceiling. Yellen's statement intended to continue to convince the Fed to print money.
the US quantitative easing is like the addiction to "opium" that it can not stop.
The Fed officials' hawkish remarks intended to support the dollar hegemony, inflation
control rather than monetary policy tightening.
The louder the Fed officials shout, the less likely the US policy will be tightened significantly.
From the recently released US economic data, the US economic recovery is not smooth.
Consumption accounts for about 70% of America's GDP.
Americans need to spend more money to keep the economy going.
And for the Americans to spend more money, there should be more money borrowed or printed.
The treasury bonds are issued based on the United States sovereign credit.
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