The debt ceiling  has been dumbed-down to a political debate of right vs. left. But the ramifications of the debt standoff are already being felt in the debt markets, and it’s costing us billions of dollars. In this episode of Global Macro Update, I talk with David Kotok, Chairman and Chief Investment Officer at Cumberland Advisors. We discuss the costs of brinkmanship, the risks posed to money market funds, the geopolitical side effects, and where he sees bargains in the bond market.