debt ceiling 2013
Since the mid-1990s, China and a host of other foreign governments have quietly acquired one-third of all United States public debt. Foreign holders of United States debt held more than $5.6 trillion in Treasury securities as of August 2013.
But continued debt-ceiling drama in the United States is starting to change that.
Debt Ceiling Deal Doesn't Fix This Larger Global Issue with United States
Senate leaders finally hammered out a debt ceiling deal today (Wednesday) that avoided a looming potential debt default. It also reopened the government that has been shut down for more than two weeks.
Investors cheered the news and sent stocks up 205 points, or 1.36%, today.
While a deal solves short-term problems, it's not doing much to help the long-term nightmare.To continue reading, please click here...
The Most Important Numbers to Know Today
200 Democrats and 19 Republicans support passing a continuing resolution with no strings attached to re-open government, according to a CNN poll of Congress. With three vacancies among 435 Congressmen, 217 votes is the minimum required to pass the measure. Senate claims it's close to a deal, but the question is how House Republicans will react - as the shutdown continues into its fifteenth day.
700% surges were seen in TWTR earlier this month. The zombie stock represents shares of home audio store Tweeter Home Entertainment Group, now traded on the pink sheets, but a one-time strip mall staple of the suburban bass head set. Tweeter went bankrupt in 2007, and shut its doors nationwide through 2008. But, some overeager investors mistook TWTR to be the hotly-anticipated shares of Twitter, Inc. The stock, which had been trading around one-hundredth of a penny, shot up to nearly $0.05, amid the heaviest volume in seven years. FINRA has since changed the ticker symbol to THEGQ, and shares have settled back down in sub-penny territory. There's no need to worry about picking up shares of Southern gourmet supermarket Harris Teeter, either. Those shares were subsumed by Kroger earlier this summer. As for what to do about Twitter stock - take a look...all in one place?
What a Debt Ceiling Stalemate Will Do to the Market
Yesterday (Monday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co."to make projections about what a stalemate on the debt ceiling will do to the market.
We are a little more than 24 hours away from the day that Treasury Secretary Jack Lew has said we'll exhaust the "extraordinary measures" and go over our debt limit. But even with the impending deadline, over the last five days the market has shakily climbed, with the Dow up 2.35%, Nasdaq up 1.16%, and the S&P 500 up slightly to 1.9%.To continue reading, please click here...
Stock Market Crash 2013: Four Factors Investors Need to Watch
Some call it a "perfect storm" and others a "financial apocalypse," but it doesn't matter what you call the fiscal headwinds facing the U.S. economy - just that you watch them, and the stock market "crash talk" they're stirring up.
With talk of the Hindenburg Omen, credit crunches, and struggling emerging markets, it's important to prepare for the potential impact of bumps ahead.
The Debt Ceiling 2013: How We Got Here, What Could Happen
A new twist to investing and financial planning is averting travesties that the government itself created; first it was the fiscal cliff, now it's the debt ceiling 2013.
The debt ceiling is a part of the way government has to go about doing its business.
However, both sides of Washington have come to use the full faith and credit of the United States of America as a bargaining chip - and the consequences are huge.
But it wasn't always like this.
Will the Debt Ceiling be Good for Gold and Silver?
Investors preparing for Washington's budget battle need to know: Will the debt ceiling be good for gold and silver?
Thanks to recent legislation passed in the U.S. House of Representatives Wednesday, the debt ceiling could be extended until May 19. The bill now moves onto the Senate where it is expected to get the green light, then should be signed quickly by U.S. President Barack Obama.
That gives investors time to prepare for what any budget decision - or indecision - out of Washington will do for their investments.
While the bill leaves the government without a long-term budget strategy, investors ought to have a plan in place.
One thing they can plan on is higher silver and gold, and here's why.
Debt Ceiling Bill Intensifies Budget Pressure on Congress
The debt-ceiling showdown took center stage on Capitol Hill today (Wednesday) as a crucial vote on a Republican bill gave the Treasury the green light to borrow a fresh stash of cash until May 19.
The Republican-controlled House passed the bill by a 284-144 margin.
It now moves on to the Senate, where it is expected to pass quickly without any changes.
Senate Democrats are expected to back the plan even though they have been hesitant to support any short-term debt ceiling fix, maintaining it creates additional uncertainty for businesses and families.
"I'm very glad that (House Republicans) are going to send us a clean debt-ceiling bill," said Senate Majority Leader Harry Reid, D-NV.
The measure would go from the Senate to U.S. President Barack Obama, who has repeatedly said he will not wrangle over the debt ceiling and will sign the bill when it reaches his desk.
Pleased with the results, the White House added a "but," saying it would have liked a longer- term solution.
While the legislation looked extremely likely to make it to the Oval Office, there is still a chance it could get tangled up in Congress, given a controversial provision in the bill.
The legislation includes a divisive rider aimed at coercing Senate Democrats to ink a long-term budget deal. The "no budget- no pay" provision would withhold pay for members of Congress until a sustainable deal is agreed upon.
"It's not a slam dunk. But the main thing is that the Republicans will cave on the debt ceiling. So we're now just arguing over the details," Greg Valliere, chief political strategist for Potomac Research Group, told CNN Money ahead of the voting.
U.S. Debt Ceiling: Government "Borrows" Pension Funds to Avoid Default
The U.S. Treasury, in order to avoid default, has resorted to an eyebrow-raising move: it has borrowed from the federal employee pension fund as the country nears its debt ceiling.
The U.S. government stopped investing in the federal employee pension fund Tuesday "to avoid breaching the statutory debt limit," according to a letter Treasury Secretary Timothy Geithner sent to Congress.
Geithner said that the move will free up some $156 billion in borrowing authority, while policy leaders in Washington wrangle over raising the $16.4 trillion debt limit.
Geithner promised the fund would be "made whole once the debt limit is increased," and maintains that federal employees and retirees would not be affected by the action.
But an IOU from the federal government isn't very settling for those relying on the fund for retirement.