This was a statement that Fitch put out earlier this week. You can find it on the BBC's website.
"Protracted debate prior to increasing the debt ceiling is not an exceptional event, but against the backdrop of unprecedentedly large peacetime budget deficits and outstanding debt, any delay in raising the limit would pose ever-increasing risks to the ability of the federal government to honour its obligations in a timely fashion," Fitch said in a statement."
Yesterday we were hit with news that the Republicans want to kick the can down the road a few months. America is not acting like a AAA rated debtor. The market is due for a correction after the major indices are triple topping and with the S&P at a five year high. A correction is due. Obama's stage is set. He can be inagurated with bragging rights of a 5-year high.
Look out below, investors. Went long UVXY on Friday afternoon at 11.80 pps. We will probably see $15 or so in the next two weeks imho.
HAHAHAHAH, hey jer, just curious, have you played this lotto called UVXY yet? have you read this board for at least 2 weeks? have you c/o uvxy charts? UVXY does pop on occassion! problem is you can go broke waiting for the pop! jmo and g/l.