If they raise the debt ceiling and don't restructure their spending (by way of reducing spending and repaying debt) then it will only make the problem worse, not immediately but in the future.
Markets will probably rally upon news of debt ceiling being increased but at the end of the day unless Obama and his administration don't do something to cut their spending and reduce their debt then will will face the same problem again sometime in the future until she goes 'pop' and we'll wake up one morning and the Dow will be down 7000 or so points.
Just my thoughts, I'm not so certain of a 7000Pt drop O/N so as usual DYOR.
Don't forget about Europe! (Greece, Spain etc) they are also in trouble.
It is OK (IMO) to park your coin or some of it in ca$h as I have done.
cheers
should i be worried about the market crashing?, page-4
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