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US debt ceiling by 17.10.13 - Get ready for the surprises |
kreshnan99
White Belt
Joined: 08 Sep 2007
Posts: 14
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Post: #1  Posted: Sun Sep 29, 2013 7:23 pm Post subject: US debt ceiling by 17.10.13 - Get ready for the surprises |
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dear all
The US will hit its debt ceiling by 17 October, leaving the government with half the money needed to pay its bills, the Treasury Secretary has warned.
read on http://www.bbc.co.uk/news/business-24277277
experts pls. comment for possible market reaction for Oct-13 expiry
tnx |
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satishboda
White Belt
Joined: 15 Dec 2010
Posts: 54
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| Post: #2 Posted: Mon Sep 30, 2013 8:28 am Post subject: |
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i am no expert, but after a debate they will raise the debt ceiling. Ofcourse, US gov cannot be shut down for lack of money. The mint at Phily will run over-time to meet the US gov requirement.  |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #3 Posted: Mon Sep 30, 2013 9:20 am Post subject: |
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Satish is right. Has happened before in August 2012(?) All they do is authorize a new higher debt ceiling AND CARRY ON AS BEFORE. Satish is also right about printing more notes to meet the requirement.
Let us worry more about our own Pseculiars : free power, Re 1 rice, free cooker/ computer/ 2 wheeler/ car etc to be given to voters for votes. After all Rupee is not reserve currency of the world and WE cannot go on printing worthless notes
Jai Hind, Prakash Holla |
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