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Debt Ceiling Countdown

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Taco
Elite Upper Class Poster
Posts: 4603
Joined: July 9th, 2011, 5:30 pm

Debt Ceiling Countdown

Post by Taco » September 16th, 2017, 3:22 am

Congress has 12 working days to raise the nation's debt ceiling when it returns from vacation on September 29. If a new debt ceiling deal isn't reached by October 12th the US government could default on its loans to the Federal Reserve which would crash the dollar and the US equity markets. The debt ceiling has been raised 78 times in the last 57 years.

I didn't give the debt ceiling countdown much thought until I found out the Fed. Vice President, Stanley Fischer is quitting his job on October 13th (Friday). It appears he's not sticking around for all the fun...

Congress has 12 working days to avoid an economic disaster — and there's good reason to panic
http://www.businessinsider.com/debt-cei ... ise-2017-8

Why There Will Be No 11th Hour Debt Ceiling Deal
http://www.zerohedge.com/news/2017-08-1 ... iling-deal

Bill Blain: "My Prediction Is That Around October 12 Markets Will Get Horribly Interesting"
http://www.zerohedge.com/news/2017-05-2 ... nteresting

Bill Blain: "I’ve Got October 12th As The Day The Big Equity Crash Occurs"
http://www.zerohedge.com/news/2017-08-3 ... ash-occurs

Fischer to Step Down in Mid-October
https://www.bloomberg.com/news/articles ... esignation
“Every time a President leaves the White House after two terms, there is a recession within the next year"

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