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What a Debt Ceiling Stalemate Will Do to the Market – Money Morning

This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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.

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