The US debt ceiling is back again to spook markets. But it comes at a time when the US is reeling from an inflation shock and the threat of recession. Make no mistake, this is a huge tail risk, so in this video, we will look at what the debt ceiling is, what would happen if the US defaults on its debt and potential workarounds.

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Timestamps
00:00 Introduction
00:29 What is the debt ceiling?
02:30 Timeline
03:52 How likely is a US default?
04:38 How bad would a US default be?
08:16 2011 Close Shave
10:14 Bigger Stakes
11:22 Workarounds

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