Government bond yields are rising rapidly today (currently the 10-year rate is around 7.5 percent). Unless there is rapid action by the international community, this has the potential to get out of control.
Here's the Armageddon scenario: First Greece defaults, then Portugal, then Spain. Is the viability of the euro currency an issue? Rather than relying on predictions, there are some practical steps you can take to protect your portfolio.
If past votes on IMF banker bailouts are any guide, House Republicans are likely to move as a disciplined bloc. So the question boils down to this: is there a handful of progressive anti-IMF Democrats willing to throw in their lot with Republicans?