This came in to my email today. It is from David Malpass of Encima Capital. I expect it will be on his website in a week. Default may occur because of a technical issue I hadn't known about. I do not expect the US to default, but I also know that there is much we don't know. Those here claiming that there is zero chance that the US will default - or that if we default it is all Obama's fault - have zero knowledge of the intricacies of the government law and finance. I don't know what the odds are of a default - 1%? 2%? 5%? 0.1%? - I don't know. But it isn't zero.