INQUIRER.net: Around world, threat of US default dismissed with shrugs

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Around world, threat of US default dismissed with shrugs Oct 15th 2013, 02:43 NEW YORK—Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the US economy would slide into a recession worse than the last.   Yet you wouldn't know that a US debt default could amount to a nightmare from the way many companies and investors are preparing for it: They aren't. The assumption seems to be that in the end, Washington will find a way to avert a default.   "Doomsday is nigh, and everyone shrugs," said Nicholas Colas, chief market strategist at CovergEx Group, an investment brokerage in New York.   Brian Doe, a wealth advisor at Gratus Capi... Keep on reading: Around world, threat of US default dismissed with shrugs Media files: Debt-Default.jpg (image/jpeg)

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