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“Has the US defaulted before?”

Have We Seen This Movie Before?

Earlier this year The Financial Review presented a paper by Professors Terry Zivney and Richard Marcus entitled “The Day The United States Defaulted on Treasury Bills”.  It happened under Jimmy Carter. Here’s how my old friend, Don Marron, summed up the key points of the paper back in May: Investors in T-bills maturing April 26, 1979 were […]