September 4, 2017. With the September 29th debt ceiling date approaching and no agreement in sight, is now an excellent time to sell stocks and bonds and head for precious metals?
One thing the U.S. stock market constantly tells us is that it does not like uncertainty. And with both political parties not near a deal to raise the debt ceiling, wall street understands much better than many politicians if there is no agreement, the government will have to start choosing who the winners and losers are as it’s dispensing cash.
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Will the government default to bondholders, or to social security recipients, medicare recipients, or military personnel? Any of those actions will result in major negative consequences. Look for not just U.S., but world markets to definately drop, possibly very significantly if the debt ceiling is not raised, or a deal is not reached within a few days of the deadline at the absolute latest.
Jittery markets will be paying very close attention in the next two weeks, with those jittery markets heading for the exits if they don’t like what they see, that being no agreement.