Yes, This Debt Ceiling Crisis Is Hurting The Real Economy


Even if the US somehow avoids default, the damage is being done.

First, there’s the reputational damage, the embarrassment abroad, and the de-facto loss of America’s AAA rating.

But for everyone worried about “uncertainty” this is your prime example.

Calculated Risk rounds up several stories about how the situation is hurting short-term credit markets, and contributing to a dry-up in business.

Yesterday, CNBC’s Diana Olick reported on a high number of housing deals falling through in recent days.

And earlier this week, surveys showed a real impact on business investment from this.

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