Money Quote by David Frum
““The financial and economic consequences of the stoppage of payments by the largest purchaser of goods and services on planet Earth could not be calculated, could barely even be imagined. It would be a nuclear event—and Republican Party leaders were willing to threaten it not only once, but a second time again in 2013.””
About This Quote
Source Opinion Column: The Wall Street Journal, 2013
A massive default by the world’s biggest buyer would cause catastrophic economic fallout, comparable to a nuclear event, yet some leaders threaten it repeatedly.
In simple terms: Default would cause huge economic damage.
Key Takeaway
Avoid reckless fiscal threats.
Themes
economics
politics
risk management
Mood
cautious
analytical
Type
policy
financial
When to use this quote
- government budgeting
- corporate procurement
- financial regulation
- policy debates
Key Concepts
default risk
global supply chain
political brinkmanship
Questions to Reflect On
- What safeguards prevent such a crisis?
- How do political threats affect market stability?
A Different Perspective
May exaggerate for rhetorical effect.
![“[democrats] hated Richard Nixon, and no wonder. It was Nixon who sent Alger Hiss to jail, and Nixon who waged the Vietnam War after the Democrats gave up,” quote by David Frum](https://sms4smile.com/quotes/img-quotes/63d/david-frum-3455_democracy_democrats-hated-richard-nixon-and-no-won_232462.jpg)
