The current proposal on the table is to raise the debt ceiling by ...
...Raising of US debt ceiling a distraction and non event for stock markets……the real issue remains US GDP growth and corporate earnings
Tuesday, 2 August, 2011 9:51 AM
Posted by Kevin Scully
I have always been of the view that the raising of the US debt ceiling was a formality and that it would eventually be approved by Congress and the Senate……the white noise we were witnessing was just “brinkmanship”. We have just seen overwhelming support from Congress with similar support expected from the Senate later today/tomorrow depending on which time zone you are in. The VIX or volatility index (see below) only rose in recent weeks to the mid 20 level.....no where near the crisis levels when the problems with the PIGS first surfaced in 2009 and the problems with Greece in 2010.
