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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%.
Watch this short video as Fitz-Gerald explains why markets continue to chug along in the positive, and why it will drastically change if we miss the debt ceiling deadline:
Here is a story about the devastating repercussions that follow hitting the debt ceiling and defaulting on debt.