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The Debt Ceiling, Dividend Plays, A Currency Sea Change and More!
Contrarian Profits (August 11th, 2009) Writes:
Say what? Geithner begs for higher debt ceiling, says it will restore world confidence… Deficit now three times last year’s record… so Congress buys 8 private jets… A currency sea change? Bill Jenkins on the dollar’s surprise rally… Jim Nelson on the best sectors for income investing… John Williams digs deeper into Friday’ jobs report… four data distortions you need to know…
“It is critically important that Congress act before the [debt] limit is reached,” Tim Geithner wrote over the weekend in a letter to lawmakers, “so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations.”
Sounds like our Treasury Secretary is finally putting his foot down, insisting that Congress pull back its lavish spending programs and start addressing our incredible $11.6 trillion national debt.
Wait… what’s that? Oh, Geithner’s actually asking for Congress to raise the debt ceiling. If Congress
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