Whatever the result of the debt ceiling debate, a U.S. default at some point is "inevitable,"...

|By:, SA News Editor

Whatever the result of the debt ceiling debate, a U.S. default at some point is "inevitable," Emergent Asset's David Murrin tells CNBC. He calls America the last of the Christian, Western empires: "Who do you pass your values to as China grows and challenges? No one. So you are forced to continue to spend and one day you cannot afford it."