In the short-term I have IBM pricing over 200, but only temporarily before a market crash ensues. I expect IBM to once again price near the lower purple support line rather quickly. Other than the an overbought tech market, a United States credit rating cut by both Moodys Analytics and Fitch will aid in the stock plunge. We were warned ... http://www.bloomberg.com/news/2011-08-02/u-s-aaa-rating-faces-moody-s-downgrade-on-debt-economic-slowdown-concern.html
Geithner Warns Lawmakers Debt Standoff Risks U.S. Default
Dec 26, 2012 Treasury Secretary Timothy F. Geithner said he will take “extraordinary measures” to postpone a U.S. default into early 2013 while President Barack Obama and Congress work out a deficit-reduction deal. Geithner, in a letter to congressional leaders today, said the government will hit its statutory debt ceiling on Dec . 31. To avert a default, the Treasury will take action to create about $200 billion in headroom under the debt limit, which would normally last about two months.
Aug. 3, 2011 (Bloomberg) -- David Riley, head of sovereign ratings at Fitch Ratings, discusses the outlook for the U.S.'s AAA credit rating and the nation's economy. Riley speaks on Bloomberg Television's "InBusiness With Margaret Brennan." Rinse Repeat...Out of time (Source: Bloomberg) http://www.bloomberg.com/video/73461132-u-s-credit-downgrade-prospects-debt-reduction.html
Aug. 3, 2011 (Bloomberg) -- Alexia Ash, head of North American forecasting at Exclusive Analysis, talks about the possibility of a U.S. credit downgrade following an agreement by lawmakers to raise the nation's debt ceiling. She speaks with Maryam Nemazee on Bloomberg Television's "The Pulse." Rinse Repeat...Out of time (Source: Bloomberg) http://www.bloomberg.com/video/73447606-u-s-credit-rating-downgrade-prospects-debt-deal.html
Aug. 2, 2011 (Bloomberg) -- Jim Bianco, president of Bianco Research LLC, talks about the likelihood of a downgrade of the AAA rating of the U.S. government's debt and its impact on the economy and financial markets. Bianco speaks with Adam Johnson and Carol Massar on Bloomberg Television's "Street Smart." Rinse Repeat...Out of time (Source: Bloomberg) http://www.bloomberg.com/video/73419094-possible-downgrade-of-u-s-credit-rating.html