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As the U.S. hits up against the debt ceiling a week from today, there are two potential outcomes.
The loudest voices are saying a default would be catastrophic, as the country would be perceived as unable to pay its obligations. The rest think the situation would be serious but not catastrophic. (I tend to side with the latter.)
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EDITOR’S PICKS
Who Says You Can’t Fight the Fed? You Need to More Than Ever Today by Bill Hall An investing axiom holds that it’s useless to “fight the Fed,” reflecting the popular view that the central bank’s actions alone are enough to keep equity prices rising. An Emerging-Markets Strategy Built With BRICs by Mike Burnick Emerging-markets stocks, which have trailed U.S. shares this year, might rebound as investors pick up beaten-down companies in improving economies. The following is a list of consumer-oriented ETFs that could benefit from a shift toward domestic-led growth in the BRIC countries. The U.S. Now Has Broken Politics and Dysfunctional Markets by Douglas Davenport The federal government has been shuttered for a week now, and many investors fear lawmakers won’t agree to a deal to raise the debt ceiling by the Oct. 17 deadline, possibly sinking the country’s credit rating and causing a debt default. |
THIS WEEK’S TOP STORIES
The Truth About Gold That No One Else Will Tell You by Larry Edelson I love gold. I love its history. I love the role it’s had in many monetary systems. I love the beauty of gold. I love the versatile uses of gold. But gold is not the end-all, be-all of the investment world. Nor is it the world’s savior. Washington’s Shenanigans Are Throttling Your Bond Investments by Mike Larson I’ve minced no words about my expectations for interest rates. More than a year ago, in 2012, I said long-term bond prices would plunge and long-term rates would surge. Why It Now Pays to Be in the Worst-Performing Stock Markets by Mike Burnick U.S. investors are rightly nervous about the government shutdown and the debt-ceiling deadline, which takes place a week from today. But at least one legendary investor sees opportunity, even after U.S. stocks, the benchmark for the world, fell almost every day for the past two weeks. |
