Home Featured “US Debt Ceiling Showdown , UK’s Growing Concern”

“US Debt Ceiling Showdown , UK’s Growing Concern”

By Ken Mahoney

by Keerat

Ken Mahoney, CEO – Mahoney Asset Management, financial/market analyst, book author and TV co-host on US NO1 business TV channel Fox Business Network


The debt ceiling issue will be a real showdown this summer, as we have hit the $31.4 trillion debt ceiling. There will be a game of chicken and chess moves going on prior to the decision between both sides of the aisle. We wonder if Janet Yellen or Jerome Powell will get involved, although Powell said they leave this entirely up to Congress and have no part in the matter.

Part of the decision timing will be dependent on tax revenues from the spring. The last time this occurred in 2011, the market went into panic mode and shed 17% in the 2 weeks the decision was being made. We think the market could begin to feel that sense of fear again when the summer rolls around.

Japan, China, and the UK are the top 3 owners of U.S. national debt, with Japan holding over 1 trillion as of last November (department of the treasury). Thi...

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