As a Money Morning Member, you'll get our top financial news stories delivered straight to your inbox – every weekday morning.
Cancel at any time | How it works
Welcome to Money Morning - Only the News You Can Profit From.
Private Briefingwith WILLIAM PATALON III, Executive Editor
Today I want to tell you the tale of how the Scottish secession referendum is killing the Japanese yen.
That’s right – the Japanese yen.
Click here and learn how to get exclusive access to the backdoor way to make a quick 149% before the IPO likely goes public on Sept. 18. Don't worry... this play has nothing to do with the "obvious" companies that've been bandied about on the internet. Go here for full details.
Members log in:
Not a member yet? Sign up here or learn more.
Chief Investment Strategist
33-year seasoned market analyst and professional trader with highly accurate track record. Specialty in global markets.
Global Energy Strategist
35-year expert in oil and gas policy, risk assessment, and emerging market economic development.
Capital Wave Strategist
30-year CBOE trader, market maker, and retired hedge fund honcho. Helped launch the Volatility Index in 1993.
20-year commodity guru and portfolio advisor. Top authority on metals + mining stocks. Head- quartered in Canada.
Defense + Tech Specialist
30-year veteran of tech markets with a Rolodex of Silicon Valley CEOs. Pulitzer nominee. Uncovered rare earths crisis.
30-year veteran analyst of business, economics, and financial markets. Award-winning author of "Contrarian Investing."
BioScience Investment Specialist
Gifted researcher with 20 years' experience tracking bioscience and pharma stocks. Master of the FDA approval process.
Small-Cap Investing Specialist
Known for his pioneering research on the seven "sparks" that trigger explosive profits in the small-cap sector.
There are less than fifty days left for lawmakers to come to agreement on the fiscal cliff, but uncertainty surrounding the dilemma is already affecting the economy. The political bickering over solving the fiscal cliff issue now has put the U.S. AAA credit rating at risk again.
In early September ratings agency Moody's Corp. (NYSE: MCO) announced it would likely downgrade the U.S. credit rating if no deal is reached before the end of the year, and on Monday the company reiterated its stance.
"A scenario whereby action on the budget is delayed until sometime in 2013 appears increasingly likely; for example, via a temporary extension of most measures except the increase in payroll tax," Moody's officials said.
"Such deferment, if not accompanied by an apparent commitment to achieving agreement and a credible timetable for implementing the necessary reforms to preserve sovereign creditworthiness, would be inconsistent with maintaining a AAA rating," they warned.
Due to the higher taxes and automatic cuts that come with the fiscal cliff, corporations already are starting to lay off workers. The independent Tax Policy Center estimates that taxes will increase almost $3,500 per household as a result of the fiscal cliff.
It remains to be seen whether the fiscal cliff will be resolved before the year is up, but even if that happens the U.S. could still have its rating lowered by Moody's due to the political stalemate and partisanship that has gone on the past two years.
Immediately after the election all focus has shifted towards the fiscal cliff and whether or not Congress and the president can work together.
House Speaker John Boehner, R-OH, has been very vocal after the election, calling for compromise and insisting that Republicans can accept more revenue.
However, many are wondering if that is just a post-election piecemeal offering and if his true feelings were voiced before the election.
The remaining content is exclusively for Money Morning subscribers. To gain access, enter your email address: