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For that. >> joining me is cnn economics commentator and "washington post" opinion columnist. cath catherine, what's the problem if they don't extend the debt limit? what's the problem if the u.s. essentially defaults? >> so it is never a good time to default on eyour debt, especialy right now when we have so many other crises going on. i'd put it into a few different buckets. one, we have difficulty paying social security checks, military service members' salaries, any creditor who has ever lent us money before who is expecting repayment. that's problem number one. pretty big deal. number two...

Deutsche Anleihen starten mit leichten Verlusten Nachrichtenagentur: dpa-AFX 29.07.2021, 08:32  |  93   |  0  FRANKFURT (dpa-AFX) - Deutsche Bundesanleihen sind am Donnerstag mit leichten Kursverlusten in den Handel gegangen. Der richtungsweisende Terminkontrakt Euro-Bund-Future fiel am Morgen um 0,04 Prozent auf 176,55 Punkte. Die Rendite der zehnjährigen Bundesanleihen betrug minus 0,45 Prozent. Sie bewegt sich damit in etwa auf dem tiefsten Stand seit Anfang Fe...

It is on automation. i'm not saying we're living in the jetsons world and a robot is handing you your hamburger -- >> that's just nonsense -- >> people are surely not getting their jobs back at the bottle factory. >> that is just not true. that's why interest rates are so low. they're sticking it into safe assets, aka, government bonds. you see negative interest rates all over the world. this is because corporations aren't spending on r&d because there's no competition. look, the reality is, we have to talk about what's going on in our economy, and that's power. it's monopoly power. in "goliat...

Or thailand or a place like that can it actually manipulate its currency deliberately? >> the answer is, yes, it could. but you raise a really important fundamental point. the u.s. dollar is the primary reserve currency of the world. that's the currency as you just said other countries often trade in. also, what's the safest asset if you want to park your money somewhere safe? it's here in the u.s. so that means folks need dollars to buy our treasury securities. by the way, when i said trump is partly at the core of this problem, by running these very, very large budget deficits especially in ...