July 27, 2011 - We are seeing the stock market drop hard today as the debt ceiling deadline is under a week away. If our Government doesn't pass a bill for the National Debt Ceiling to be raised, we could be looking at a debt rating downgrade which would spark even more stock market declines. However, if a deal does not get passed, the US still has cash it can burn through. We could last another 7-8 days but then I think things would get very ugly.
Gold & Silver Prices would soar and US stocks would take a big hit. Some feel we shouldn't raise the debt ceiling, others feel we should. The reality is that at some point we need to solve this problem rather than keep kicking the can down the road.
The Debt Ceiling Deadlines clock is ticking - August 2, 2011 - 8/2/11
