On the economic consequences of the politics in the US, Germany and Europe

Today's commentary
Summary: The German election and the US debt ceiling crisis are the two political events dominating the economic headlines - and for good reason; these two events could have potentially big consequences on the regional and global economy. In the case of the US, a threatened debt default would be catastrophic. Some comments on what to expect are below.
The US government is likely to shut down
First, let's look at the US. As it stands now, we are at an impasse where a governm...

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