Economics commentator Jeremy Warner, the assistant editor of the Daily Telegraph, said the consequences of a default would be cataclysmic.
He said: 'Given the key position occupied by U.S. Treasuries in the world's money system, the effect of such a default would be like a death star exploding.
'It would be Lehman Brothers to the power of a thousand. Indeed, the effect would be so calamitous that nobody can quite believe it will ever be allowed to happen.'
Read more: http://www.dailymail.co.uk/news/article-2441471/Will-U-S-budget-deadlock-trigger-financial-Armageddon-How-America-defaulting-payments-shake-world.html
Only 15 days away from a complete collapse of the entire world's financial system.
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