The weekend edition of the Wall Street Journal from May 14 included an . The topic was the possible default of U.S Treasury bonds.
The issue of most concern to Mr. Druckenmiller was not the possibility of delayed interest payments if Congress does not raise the debt ceiling. His biggest concern is that Washington will lose the will to control spending, and restrain runaway entitlement costs.
For anyone who cares about the future of the country, and wants to understand the difference between a “technical” default, and a default in which a country will not repay its debts, they need to read this interview.
