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Right now , at least the euro side has calm down, but it is not over yet.
if by next yr the PIGS economy are not doing well and the world growth slow in this 2nd half as forcast by ECRI, then Spain and Portugal will get into trouble.
I think very likely, by then all hell will break loose again.
This ECRI is razor shape in calling recession and always behind curves.
Now only US debt ceiling left, but this one i think most likely eleven hour compromise, cap spending at 3T, maybe.
Then stock will have to rally till year end, hope so.
Good luck to all of us.
Opps..... Er.......
Provided if they can find the gold and you do believe the Russian
http://www.eutimes.net/2011/05/russia-says-imf-chief-jailed-for-discovering-all-us-gold-is-gone/
Is it going to the next level?
Cheer
Imagining. what happen when they start selling those gold??.
Gold px can start driving like a sub....$??. DOW can oso start diving by...?.
MasterNg9999 ( Date: 22-Jul-2011 23:06) Posted:
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Tick Tock Tick Tock ......... the hand is moving
1. United States
Value of reserves: $459.04 billion
Holdings total: 8,965.6 tons
The United States Bullion Depository in Kentucky—otherwise known as Fort Knox—is the most famous gold stockpile in the world. It holds the majority of the nation’s gold reserves, the remainder of which is held at the Philadelphia Mint, the Denver Mint, the West Point Bullion Depository and the San Francisco Assay Office.
Altogether, the total gold reserves of the U.S. equal 8,965.6 tons and would be valued at approximately $459.04 billion in today's market.
The key to the debt crisis
Cheer
S& P briefs GOP lawmakers on fallout
Credit ratings agency and Wall Street groups met with House Republicans to educate them about a downgrade. More
Beware the debt ceiling vote
NEW YORK (CNNMoney) -- The debt ceiling talks, for weeks now, have been going on behind closed doors. The negotiations have been conducted by a tiny group of legislative leaders and President Obama's top aides.
All the while, the countdown to Aug. 2, when the government will no longer be able to pay all its bills, has marched closer.
Any proposal will still have to be put into legislative language, scored by the Congressional Budget Office and vetted by rank-and-file lawmakers whose votes will decide its fate.
Even after the principal negotiators announce a deal, the rest of Congress will have to be convinced to go along.
The closer to D-Day Washington gets, the messier it will be.
teeth53 ( Date: 21-Jul-2011 23:07) Posted:
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EVEN MORE SOAP OPERA!!!!!!
The following are 18 signs that there are more entertainments in the states....
#1 In a brand new article, Janet Tavakoli has vividly described the wave of shocking violence that is currently sweeping the city of Chicago. What she says is happening to Chicago right now is beyond alarming....
This year, all hell has broken loose in downtown Chicago. Years of under-hiring have resulted in a police force that is unprepared for wildings and gang violence. Moreover, concealed carry in Chicago is illegal, unless one follows the Constitution.
Tourists and residents have been attacked by mobs of youths on buses, on beaches, on bicycle paths, near the shops of the Magnificent Mile, and outside their homes. Mobs of shoplifters plagued " Mug Mile" stores.
Terror has descended on many of the wealthiest areas of Chicago. Some are even calling on Chicago residents to completely avoid areas like the Magnificent Mile during the weekends until more police are brought in.
Mobs of young people are " swarming" retail stores, assaulting shoppers and pedestrians and even pulling people out of their cars.
The following is one eyewitness account of the " wildings" in Chicago that Tavakoli included in her recent article....
At about 11pm last Friday night, June 3rd, I heard shouting, screaming, horns blaring and tires screeching from my apartment...When I looked out my window to the street below I saw a crowd of about 20 young people...directly across the street from the entrance to my building. They were leaning on parked cars and clogging the street. They were screaming at people walking and driving by. I watched them stop vehicles, including taxi cabs, and pull people from the vehicles...It was a frightening scene and I was sure someone was going to be hurt.
#2 If you don't pay your student loans you may find yourself getting dragged out of your home by a SWAT team.
You doubt this?
The following is how an article in The Daily Mail recently described one recent SWAT team raid in California that was apparently ordered by the Department of Education....
A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife - to collect her unpaid student loans.
A stunned Kenneth Wright had his front door kicked in by the raiding party at 6 am yesterday before being dragged onto his front porch, handcuffed and led to a police car with his three children.
He says he was then detained for six hours while officers looked for his wife - who no longer lives at the house.
#3 One town in Connecticut was forced to shut down a beautiful new fountain because too many people were using it as a toilet.
#4 This most recent Memorial Day weekend, cities all over America literally turned into war zones. There were reports of mass violence in Miami, New York, Chicago, Charlotte, Myrtle Beach, Nashville and Boston among other places.
If you want to see video of some of the violence in Miami as it was happening, you can view it here. The video is quite disturbing so please don't let any small children view it.
#5 One of the hottest books in America right now is a " children's book" entitled " Go The F*k To Sleep" .
#6 A teenage girl in Washington state recently shot her Dad with a hunting bow because he took away her cell phone.
#7 In New York City, one 32-year-old man was recently charged with sexually assaulting an 85-year-old woman.
#8 Democratic strategist James Carville recently made national headlines when he told talk show host Don Imus the following....
" You know, look — this is a humanitarian — you know, you’re smart enough to see this . . . People, you know, if it continues, we’re going to start to see civil unrest in this country. I hate to say that, but I think it’s imminently possible."
#9 According to one new study, the percentage of U.S. households that contain a married couple with children has fallen from 44.3% in 1960 to 20.2% today.
#10 In Atlanta, two dozen teens recently violently assaulted two Delta flight attendants on a train for no apparent reason. The following is how a local Atlanta newspaper described the attacks....
Their " Clockwork Orange" style blitz was over soon after it began. The teens boarded the train, headed to Hartsfield-Jackson International Airport, at the Garnett station a little after midnight seemingly intent on instilling fear. They succeeded.
“There was blood everywhere, people were hollering and screaming,” a witness told Channel 2 Action News. “We were intimidated. People were terrified. People were trying to run. But there was nowhere to run.”
#11 Federal prosecutors in Indianapolis have announced that they have broken up one of the largest child pornography rings ever discovered. It was based in Bloomington, Indiana.
Are any small towns still safe?
#12 Barack Obama's food safety chief is defending armed raids of raw milk producers (including a raid on an Amish farmer) and he says that the FDA will " keep doing our public health job" .
#13 In Florida, a 45-year-old Polk County sheriff's deputy has been charged with strapping children to a desk and spanking them with sex toys.
#14 In Sioux City, Iowa a 41 year old man recently walked into the office where his boss worked and beat the living daylights out of him. The boss suffered four chipped teeth and needed surgery to repair his nose. Apparently the boss was planning to fire the man.
#15 A 20-year-old woman in Oklahoma has been charged with killing the family cat and using the blood as part of a costume she planned to wear to a Lady Gaga concert.
#16 McDonald's recently held a " National Hiring Day" and about a million Americans showed up to apply for jobs at McDonald's restaurants all around the nation. Well, in Cleveland a horrible fight broke out between some girls and it ended up with three people being run over by a car. You can view video of this incident right here. Please do not watch the video if you are sensitive to graphic violence.
#17 All over the United States, vicious restaurant brawls have been erupting with alarming frequency and many of them are being posted up on YouTube for the world to see. You can see one example of this phenomenon right here.
#18 From coast to coast, " mob robbing" has become a very disturbing trend.
So what is a " mob robbing" ?
Well, basically dozens of young people storm into a store together, grab whatever they want, and storm back out again.
Recent examples of this have been caught on video in Washington D.C. and in Las Vegas.
i have to say that the Americans are a creative lot..... we dont get that much sht in Singapore despite all the failing.....
Cheer
MORE SOAP OPERA!!!!!!!!!!!
The following are 39 things that are driving ordinary Americans absolutely crazy right now….
#1 According to Newsweek, close to one out of every five American men between the ages of 25 and 54 does not have a job at the moment. So why is the “greatest economy on earth” unable to provide jobs for nearly 20 percent of the men that are in their prime working years?
#2 Last year, over a million homes were repossessed by financial institutions. This year a similar number of repossessions is expected. Sometimes these evictions are absolutely heartbreaking. Just check out the following excerptfrom a recent Newsweek article….
To understand American anger, that roiling storm sometimes dubbed our national “mood,” spend a day with Cook County Sheriff Tom Dart. Since 2006 the unlikely lawman—a tea drinker who listens to Bobby Kennedy speeches on his way to work—has overseen all foreclosures and evictions in the Chicago area, one of the hardest hit nationwide. The process does not always go well. One evictee shot himself in the head, remained conscious, and calmly tried to raise the pistol again as deputies battered the front door.
#3 Companies like Netflix and Chipotle are significantly raising prices. Meanwhile, Ben Bernanke claims that there is hardly any inflation. He must not go grocery shopping much.
#4 The government keeps telling us that the economy is improving, and yet more stores keep closing. The Gap has announced that up to 200 stores will be closed over the next two years. Perkins has announced that they will be closing 58 restaurants. Borders has announced that they will be shutting down their remaining 399 stores and that 10,700 employees will lose their jobs. Yes, the economy is really buzzing right now.
#5 Government services all over the nation are being cut back. An atmosphere of austerity has descended on the entire country. For example, Postmaster General Patrick Donahoe says that we may soon have to say goodbye to Saturday mail delivery.
#6 Many broke public school systems are now charging parents lots of money for things that used to be free. The Wall Street Journal says that one family in Ohio has to shell out over $4,000 a year for basic school activities….
Budget shortfalls have prompted Medina Senior High to impose fees on students who enroll in many academic classes and extracurricular activities. The Dombis had to pay to register their children for basic courses such as Spanish I and Earth Sciences, to get them into graded electives such as band, and to allow them to run cross-country and track. The family’s total tab for a year of public education: $4,446.50.
#7 The Federal Reserve gets to give out tens of billions of dollars of nearly interest-free loans to their bankster friends while tens of millions of American families desperately try to survive an economic downturn that was caused by those same banksters.
#8 We have gotten ourselves into a position where we are in so much debt to China that we have to constantly be concerned about how they feel about our financial status. Earlier this week, one top Chinese official urged the U.S. government to do something to boost confidence in the U.S. dollar and in U.S. government debt….
“We hope the U.S. government will take responsible policies and measures to boost global financial market confidence and respect and protect the interests of investors.”
#9 The national debt continues to spiral out of control and our politicians seem unwilling to do anything serious about it. If you combine all sources of income, it is estimated that LeBron James makes about 42 million dollars a year. If he continued to make money at that rate, it would take him 23,809 years to make a trillion dollars. Yet our politicians see no problem with running trillion dollar deficits year after year.
#10 Unless our politicians do something dramatic, the federal government is headed straight toward financial hell. It is being projected that the U.S. national debt will hit 344% of GDP by the year 2050 if we continue on our current course.
#11 It is not just the federal government that is broke. Right now, there are a lot of state and local governments that are teetering on the brink of financial disaster. Moody’s has announced that it will be reviewing, and possibly downgrading, the credit ratings of Maryland, New Mexico, South Carolina, Tennessee and Virginia. The city of Harrisburg, Pennsylvania is such a financial mess that nobody really has any idea how to fix their problems.
#12 All over the United States, highways, water treatment plants, libraries, parking meters, airports and power plants are being sold off (much of the time to foreigners) in order to plug short-term holes in state and local budgets.
#13 The combination of federal government spending, state government spending and local government spending now accounts for a larger share of U.S. GDP than at any other time in our history.
#14 Police all over America have been shutting down lemonade stands run by little children. At least one police chief in Wisconsin was good enough to apologize when it happened in his area. It is too bad that there aren’t more police out there that have a little common sense.
#15 The U.S. housing crash shows no signs of abating. Real estate construction is absolutely dead. In fact, right now we are on track for the lowest number of total housing completions that the U.S. government has ever recorded in a single year.
#16 In June, sales of previously-owned homes in the United States declined to a seven month low. Without good jobs, the American people cannot afford to buy homes. Many of those that do have good incomes are being turned down by mortgage lenders.
#17 The supply of existing homes for sale continues to go up. That means that it is going to get even harder for average Americans to sell their homes.
#18 The value of U.S. homes has fallen by a total of approximately 6.6 trillion dollars since the peak of the housing market.
#19 It isn’t just banks that are kicking people out of their homes. All over the country, homeowners’ associations are aggressively using their powers to boot American families out on to the streets.
#20 Instead of being used by families, all over the country thousands of foreclosed homes are rapidly filling up with mold.
#21 Really bizarre thefts are being reported all over the United States right now. For example, it was just reported that some crooks in Pennsylvania ripped up and hauled away about 100,000 pounds of train track.
#22 Authorities continue to insist that violent crime is going down, and yet the number of police officers killed by gunfire is on pace to easily set another all-time record for the second year in a row.
#23 One recent study found that approximately 47 percent of all meat and poultry in the United States “is contaminated with antibiotic-resistant Staph“.
#24 The health insurance companies keep jacking up rates on all of us, and yet they also continue to report record breaking profits.
#25 The Obama administration is now using “mystery shoppers” to spy on doctors. The following is from a report in the New York Times….
Alarmed by a shortage of primary care doctors, Obama administration officials are recruiting a team of “mystery shoppers” to pose as patients, call doctors’ offices and request appointments to see how difficult it is for people to get care when they need it.
#26 Corruption appears to be rampant on every level of American society today. For example, one NYU professor recently discovered that 20 percent of his students were blatantly cheating on assignments.
#27 Thanks to insane tax loopholes, a substantial percentage of the billions of dollars of income that hedge fund managers make is only taxed at a maximum rate of 15 percent. Meanwhile, middle class American families are being absolutely hammered with taxes.
#28 The “too big to fail” banks now control 77 percent of all of the banking assets in the country.
#29 In 2010, the United States had the worst current account balance in the world. The U.S. had a current account balance of negative 561 billion dollars for 2010. No other nation had a negative current account balance that even exceeded 70 billion dollars. The amount of wealth leaving our country and being transferred to the rest of the world is absolutely mind blowing.
#30 One recent poll found that 72 percent of Americans believe that we are involved in too many wars. But the Obama administration seems to think that we should be “the police of the world” and they just keep getting the U.S. military involved in more conflicts.
#31 Startling revelations are starting to come out about a scandal so big that it could shake up Washington D.C. for years to come. Apparently, ATF agents were ordered to get thousands of guns into the hands of the Mexican drug cartels and they were also apparently ordered not to follow those guns to see where they ended up.
#32 The top 5 percent of all income earners in America account for almost as much consumer spending as the bottom 80 percent of all income earners.
#33 The number of Americans that are going to food pantries and soup kitchens has increased by 46% since 2006. But instead of being treated with kindness, many communities are treating the growing ranks of the poor as “outcasts” or criminals.
#34 Despite the promises of our politicians, globalism is absolutely shredding the American economy. According to Forbes, the United States has been losing an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.
#35 There are no signs that our rampant unemployment problem is going to end any time soon. In fact, right now it takes the average unemployed worker about 40 weeks to find a new job.
#36 The vast majority of U.S. consumers are tapped out at this point. Just consider the following quote from the New York Times….
The auto industry is on pace to sell 28 percent fewer new vehicles this year than it did 10 years ago — and 10 years ago was 2001, when the country was in recession. Sales of ovens and stoves are on pace to be at their lowest level since 1992. Home sales over the past year have fallen back to their lowest point since the crisis began.
#37 Right now in Congress there is a proposal to change the way that inflation is calculated. According to The Senior Citizens League, this change would cause the average retiree to lose out on $18,000 in Social Security benefits over a 25 year period.
#38 Our tax system is fundamentally unjust. Just look at the example of General Electric. G.E. is a favorite of the Obama administration and somehow they get away with not paying taxes year after year. Just check out what the New York Times claims G.E. got away with in 2010….
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
#39 The TSA continues to abuse U.S. travelers in some of the most bizarre ways imaginable. For example, one 95-year-old grandmother in a wheelchair that is dying from cancer was asked to remove her adult diaper so that TSA “officials” could feel her up properly. In what kind of a society does this type of thing go on?
No wonder the American people are losing
faith. It is hard to keep believing when you see rampant corruption
and decay everywhere you look.
no worry.... these are American's problem........ we will still play our game here and assume that the Fed and gang will come up with a solution ....
or would they?
Cheer
http://money.cnn.com/2011/07/19/news/economy/debt_ceilling_states/index.htm?iid=EAL
International Monetary Fund places total U.S. debt at 96.3% of GDP, ranked 12th highest against other nations.
enuff is enuff said Och bama... :roll: giving 24 hours notice...
NEW YORK (CNNMoney) -- Moody's Investors Services placed five states on review for possible downgrade if the United States fails to resolve its debt ceiling impasse and has its own stellar credit rating downgraded.
The five states -- Maryland, New Mexico, South Carolina, Tennessee and Virginia -- could all lose their Triple A rating if the U.S. rating is downgraded, Moody's said Tuesday.
Euro had also five nations - PIIGS.
China owns d largest portion of US debt, but a Reuters investigation shows that they may have more than the Treasury could previously report. But by buying up US debt through internationally disparate financial intermediaries, Chinese entities hid exactly how much US debt they had acquired -- estimates say it is above $1.13 trillion. While S'pore own about $60 billion...?. :lol:
8:57AM: Looming debt ceiling deadline prompts states to draw up contingency plans. More
U.S. credit: Raising debt ceiling isn't enough
Hold up! Still no deal to raise the debt ceiling
http://money.cnn.com/2011/07/21/news/economy/Debt_ceiling_states/index.htm?iid=Lead
teeth53 ( Date: 17-Jul-2011 10:25) Posted:
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EU summit on Greece: High stakes, few options. Goal is to hammer out the terms of a second bailout, and discuss ways to prevent the crisis from infecting larger economies in the monetary union.
Stakes are high. Nervous investors in the bond mkt have driven borrowing costs to record highs for some of the more vulnerable EU economies, such as Italy and Spain.
Thursday: IMF: Debt threatens to engulf Europe
But a sustainable solution would require months to implement and as EU has been wasting time for a year and half, and now the game is much more dangerous.
EU has been grappling with the fiscal challenges facing Greece, Ireland and Portugal -- which have huge debts and ailing economies. The festering crisis has intensified in recent weeks, as investors fled the European bond market amid fears of a default by Greece.
Spain and Italy, two of Europe's largest economies, are now seen by investors as vulnerable to the crisis.
One of the biggest sticking points has been the involvement of private sector investors in future bailouts. " bottom line is that they're trying to involve private sector through some sort of a debt buy back or bond swap"
Alternatively, EU officials are considering expanding the European Financial Stability Fund.
It's time for a European TARP
The fund, was set up last year, is authorized to sell up to 440 billion euros worth of bonds backed by EU members. It then uses the proceeds to provide low-cost loans to troubled euro zone economies.
Some officials have proposed authorizing the fund to purchase sovereign debt in the secondary market. This would enable the fund to buy back Greek bonds directly from the private sector.
If the core members reject the proposal, he added, " then our prediction of a year ago that the eurozone will not survive in its current form could be borne out even sooner than we had anticipated."
Thursday on the fringe, There has also been talk of imposing a tax on banks to ensure private sector participation. But analysts said it's unlikely that officials will agree on the terms.
CNNMoney's by Charles Riley.
teeth53 thot: All the plan above could take months to implement.
teeth53 ( Date: 17-Jul-2011 11:02) Posted:
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A step closer to heaven or hell?
http://www.foxnews.com/politics/2011/07/19/house-republicans-set-tuesday-vote-on-debt-plan/
or its just a beginning of a end of a dream....
Cheer
Be carefull all my love ones out there.
The market now is like,
Short also die, Long also die, see who die faster and more horrible only.
Stay sideline the best, dont be too greedy. I cant find any odd now, all become 50/50% bet like gamble liao.
Even many stock is very cheap now, i cant even pull the trigger. If i cant see my target clearly, i will waste my bullet.
Even someone loan U to pay off loanshark interest for this month, U think U dont had to pay for next month? Never ending debt = Never ending problems.
But there will be some rebound area and times for U to play, but just dont know when. We cant predict and we r not god, but we can play safe by not playing bad odds.
When oneself is in it and involve, one cannot afford not to stay alert and always be flexible.
For example, a minutes can cause great loss as trade prices keep changing super fast on super computer.
Stress, more stress and always making alot of mistake..it is even more un-settling when uncertainty abound.
timqoo ( Date: 15-Jul-2011 09:57) Posted:
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I wonder if its a blessing or a curse to bear witness to one of the most pivoting events in history
this may yet be the moment which would change the facet of history with the players in the game.....
be it naught or be it fair , i wish the best for all out there.... just be mentally prepared...
life will go on......
Cheer
http://www.sfexaminer.com/news/health/2011/07/economic-outlook-grim-if-no-debt-deal-reached
No one knows exactly what choices Obama and his top officials would make if the crisis comes. The White House Office of Budget and Management is the agency charged with reviewing possible cuts in benefits and payments while the Treasury Department handles cash flow. All have been mum about their crisis plans, apparently to avoid market speculation or panic.
But Treasury Secretary Timothy Geithner has insisted the deadline is real. " There is no credible way to give Congress more time," he said recently.
One analysis, by the Bipartisan Policy Center, suggests that once the government runs out of cash and lacks the power to further borrow, it would need to slash spending at once by as much as a whopping 44 percent.
The U.S. now borrows more than 40 cents for every dollar it spends.
Read more at the San Francisco Examiner: http://www.sfexaminer.com/news/health/2011/07/economic-outlook-grim-if-no-debt-deal-reached#ixzz1SNUCNyej
Govt contractors are likely to be among the early victims, says Paul Light, professor of public policy at New York University. " No new contracts. Delayed payments. Stop work orders. I can't imagine - Obama would ever touch soldiers' pay. But you'd get closing of parks, as we've seen in Minnesota, the national monuments, freezes on discretionary spending including Medicaid."
Other early austerity steps would likely include halting of highway projects and research grants, and orders to stop clinical trials of new drugs and cancer research.
The state govt shutdown in Minnesota may indeed offer a preview of what lies ahead on a larger scale.
teeth53 ( Date: 17-Jul-2011 10:25) Posted:
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http://www.huffingtonpost.com/sheldon-filger/sovereign-debt-crisis-now_b_577989.html
Sovereign Debt Crisis Now Threatens the U.S. Economy
ATHENS (Reuters) - Secretary of State Hillary Clinton on Sunday voiced strong U.S. support for Greece's battle to overcome its debt crisis, saying it was taking the difficult steps required for future growth.
Clinton's visit to Athens was intended to signal Washington's backing for Prime Minister George Papandreou ahead of a meeting of euro zone leaders in Brussels on Thursday to decide on a new bailout package for Greece amid fears the debt crisis could spill over to Spain and Italy. Meanwhile...
With time running short, President Barack Obama and lawmakers were struggling for ways to lift the debt ceiling and reduce the deficit as an Aug. 2 deadline to prevent a default draws dangerously close.
teeth53 thot: Secretary of State Hillary Clinton see, but can't help. " Americans know these are difficult days"
The cost of two (2) weeks delay will cost U.S. tax payers about US$150 billion in short fall.
teeth53 thot: Is it EU govt bank going to take the hard knock.?. as govt try to calm a in coming storm?.
EU banks at risk in even a mild recession as stress test result is reveal. Meanwhile as EU has painted a more rosy picture..result reveal 90 lenders, oni 8 failed: 5 in Spain, 2 in Greece and 1 in Austria.
In London - Questionmarks over stress test's credibility?. the 8 failed banks need only S$4.3 billion or 2.5 billion euros in fresh capital by year end.
In contrast. S& P conducted its own analysis and concluded in March - They needed as much as 250 billion euros. To withstand a sharp increase in yields ans a severe economic downturn.
What is undermining the credibility of this latest attempt to calm EU financial fears - is d third in three years, is that, a sovereign debt default was not among the worst-case scenarios under consideration, even credit default swaps already indicate an 87% chance that Greece will not be able to repay their debts mountain.
The IMF mission - requested by Greece as it battles huge budget deficits and a debt mountain of nearly 300 billion euros (S$561 billion).
http://www.huffingtonpost.com/sheldon-filger/sovereign-debt-crisis-now_b_577989.html
Sovereign Debt Crisis Now Threatens the U.S. Economy
Agree. Staying alert and in tune rather then ignoring can assist us in making a better decision..
The cost of two (2) weeks delay will cost U.S. tax payers about US$150 billion in short fall.
Aug 03 - some US$23 billion in social securities benefit payments are due.
Aug 04 - Treasury dept must pay US$87 billion to investors to redeem maturing treasury securities.
Aug 15 - more then US$30 billion interest payments are due., and
in additional to those costs, d govt normally pays US$10 billion daily to contractors, medicare providers, federal employees (public employees) and others.
http://sg.news.yahoo.com/photos/public-debt-worlds-richest-countries-photo-115443410.html
The US govt reached its debt limit of $14.29 trillion in May, and since then the Treasury Dept has used special measures to allow the govt to keep paying its bills.
Unless the limit is raised by August 2, the Treasury says, growing spending and debt service commitments will force a default, which would have disastrous ripple effects throughout the global financial system.
teeth53 thot: a two weeks delay is enuff to cause alot of headache, together with EU-PIIGs.
timqoo ( Date: 15-Jul-2011 09:57) Posted:
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That's right...
Ego has no place when playing stocks...
timqoo ( Date: 15-Jul-2011 09:57) Posted:
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