Diamonds and the Treasury Debt Ceiling: Why Nothing Has ‘Intrinsic Value’ in Economics

Diamonds and the Debt Ceiling: Why Nothing Has 'Intrinsic Value' in EconomicsThe U.S. Treasury Department has just issued an urgent letter requesting a lift on the debt ceiling, warning Congress of imminent financial collision in September as federal cash is running out. Though this scenario has played out many times before, it takes on special significance now in light of president Trump’s recent comments about bitcoin, […]

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Does the debt ceiling do any good?

The Washington Post recently answered the question: “Why does the debt ceiling exist?” In answering the question, they reported, “The debt ceiling was set up in 1917 so the [US] Treasury could borrow money up to a limit without repeatedly having to go to Congress for permission. (The debt ceiling took its modern form, the […]

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