Debt Scramble

At one time I used to go to the coin jar. That's where all my stop gap funds resided. It became time to wrap pennies, nickels etc. Later on it was the credit card as the requirements for dough increased. Happy to say the credit card has been retired from service.

The concerns remain. Unfortunately America decided to elect the Tea Party wing of the GOP into Congress last November. Not a whole lot of good coming out of that move is there America?

So I would presume everyone's finger is on the trigger. The trigger being to sell off the equities or not. One also might suspect that the brinkmanship game is partly being established for that very reason. There just might be a whole lot of cheap equities out there shortly which the ultra wealth can then gobble up.

Reuters: Congress scrambles for debt deal

The United States will run out of funds to service its debt on August 2 if Congress does not approve additional borrowing.


Boehner must overcome stout resistance from Tea Party movement conservatives in his own party, who adamantly oppose any steps to raise tax revenue.


Rating agencies say they will cut America's Triple-A credit rating if the United States fails to meet debt payments, likely triggering global market turmoil.