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The United States has run in to a slight problem. There is an limit on how high their debt can go and unfortunately they have hit that limit. Since the government is still running a deficit, it is absolutely necessary that this debt ceiling be raised in order for the United States government to continue to function and not default on it’s financial obligations.
In order to raise the debt ceiling, its up to President Obama to get the go ahead from Congress. Congress isn’t making it easy and is wanting some serious spending concessions to be made. In the midst of this, the United State’s AAA credit rating is being questioned by various rating agencies such as Moody’s and seriously raising investor concerns. Since some of these concerns have come to light, the US dollar has dropped significantly in value.
The deadline is set for August 2nd. It seems quite unlikely that some sort of deal won’t be reached by then, but investors are on their toes none the less. The US dollar is and has been the go-to currency for much of the world so the outcome will have very serious consequences.
I really want to make a post about this on my blog. Thanks for your inspiring ideas. You are welcome to read my follow-up to this at howtogethits.net You can consider my post for July 15th to be the comment to this!
Anybody interested in forex trading should take a look at this video. In the video he mentions a forex trading site… which in my opinion is the best site for currency trading. Have a look and you’ll see what I mean –> http://www.youtube.com/watch?v=xnzESCa6vD8
Lovely just what I was searching for. Thanks to the author for taking his clock time on this one.
knowledge is power