News reports out today reminded us that there has not been an agreement of the Debt Limit being raised. A few months ago, the Dem/Reps could not agree ....shocking the whole country of course.
The Debt Limit was on "autopilot" with Obama. The printing press ran non-stop and now we are at $19.8 Trillion in fiscal debt. And when you run out of tax payer money (which was from a few months ago)....you again have the same issue --- you have to raise the Debt Limit.
Keep your eyes open in October -- see chart below how the money runs out
So what are the odds of healthcare, tax reform or the new White House Dinner menu passing .....very slim to NONE.
There will be a fight, so what does that mead to STEEMIANS ????
- there will be a fight in DC (CNN will love it....they are now joing a high school newspaper club)
- the world will lose confidence in the dollar "big time" (see it inching down now)
- the stock markets were jacked to all time highs becuase everyone knows it's going down with this mess
- SO....a lowered dollar and lack of confidence means.....drum rollllllllllll....rising crypto prices.
This is why you see Goldman positioning for lower crypto prices to file their criminal hands. There is so much turmoil in the banking system now, it being held together with Elmers Glue. Italy is on borrowed time. I am curious to see which excuse will be used.
This is why you see the "winds of war" breezing".
Normally -- they would turn on the printing presses and go to the bar. I think the Dems/Reps are looking for chaos and they will get it.
So the next 9 months will be a time to remember....hold your STEEM ....but you can be steamed at our politicians and make believe news.
Source:
http://www.zerohedge.com/news/2017-06-29/treasury-will-run-out-cash-mid-october-cbo-warns
it's not a ceiling if you keep raising it. I think they will raise it again
True.....maybe we can call it a "smokescreen" ...that seems better on many levels :-)
Smh...
shaking our world soon... I am afraid
Add to the mix us (brits) the second largest contributer to the EU leaving and the Euros going tits up too.
there are so many "straws" that can break this camels back.....interesting times
Yep its coming fast. When we have unless dollars due to lack of confidence then real assets as well as cryptos will take the stage. Buy cheap and party latter.
I really do see this playing out....it will be hectic and I think it never to early to prepare...these banks are fragile.
They could just keep kicking the can down the road, 20 trillion or 50 trillion, already will never be re-paid, the figure has almost become irrelevant. In theory they can continue to print money until there is a total loss of faith in the dollar, they are already bankrupt. They could also just default on all the foreign debt, being the worlds reserve currency and a military superpower comes with benefits.
that would be true...and has been....but do you see how china and russia have pivoted from the dollar....and oil trade is now at risk in dollars. You don't make these "changes" without planning...the citizens are the last to know.
Agreed, they are never going to warn you ahead of time and we should always be prepared for anything.
They'll raise the debt limit, Steve Mnuchin already said they'll have to. I think if the Dems make a scene about it, it'll be laughable. They never cared about it before!? Otherwise, this whole DC corporation DBA United States will be up a shit's creek without a paddle.
really, you never know, but there are so many possibilities lining up even without a debt level problem