Today at 12:00, when the House of Representatives votes on the Proposed Debt Ceiling Bill, Washington will FINALLY pass the bill they should have passed several weeks ago. While the bill is no where what we need, and really accomplishes nothing other than "kicking the can down the road", it does allow the U.S. to avoid defaulting on our debt obligations (in other words, the government doesn't have to decide now what bills to pay and which ones not to - like social security, medicare, defense contracts, etc). I am no Political Scientist by any means, but I do know from studying Economics that in passing this debt ceiling bill Washington still faces the impending problems associated with the fact that we are spending more money than we (the country) makes...
On top of our mounting fiscal concerns, and as I've mentioned time and time again, we are still burdened with the high levels of unemployment, lackluster economic growth, a continued depressed housing market, and poor consumer, corporate and investor confidence.
But in saying all of that, don't be a "Chicken Little" because the sky is not falling. Even despite the stock market having been down for the past 7 days (and currently working on its 8th straight), there are some positive developments starting to appear...in a bit I'll post what these positive signs are and what some specific investments I'm watching look attractive.
