Business Insider: The White House has warned stocks will plunge 45% and a deep recession will strike in the 3rd quarter if the US defaults
* The stock market could crash 45% if the US defaults on its debt, the White House warned.
* The debt ceiling deadline is quickly approaching in early June as the US Treasury exhausts all of its extraordinary measures.
* President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet about the debt ceiling later today.
A US debt default could spark a 45% crash in the stock market and generate a deep recession akin to the 2008 Great Financial Crisis, the White House's Council of Economic Advisers warned earlier this month.
The deadline for lawmakers to lift the debt limit is rapidly approaching in early June as Treasury Secretary Janet Yellen exhausts all of the department's extraordinary measures.
If a debt ceiling deal isn't reached, it could mean the Treasury forgoes Social Security payments, payments to Medicare and Medicaid, and ultimately payments to US bond holders. A potential debt default in mid-June has led to a surge in the US 1-month Treasury yield to 5.56% from its low of 3.31% last month.
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WNU Editor: A lot of fear-mongering happening right now.
11 comments:
Arse licks always resort to fear mongering to gather their partisan zombie troops, if for no other reason than to keep them in line, marching to the same zombie jack boot drum beat. Meanwhile, the FBI, CIA, Homeland Security, and god knows who else, are being infiltrated by globalists who not only don't give a flying furry fuck about what the average citizen thinks, but are determined to present a united front against any and all political adversaries who dare think differently about anything than they do. For example, the FBI was just recently called out for violating surveillance laws. You think they give a fuck? No, they don't. In fact, expect them to double down. WE THE PEOPLE are now just an election season after thought. The American people are basically viewed just a collection or either useful idiot or enemies. Period. That's the sad truth.
Election ploy/play we've seen the movie 15 times in total every 4 years same old same
I found two globalists in my shopping cart at Target!
USA will fall fast
With madness
Let the shit hit the fan
And stand next to it
let me get this straight. according to Biden, (I know, I know, those other people behind the scene who are actually running things), a default will create a deep recession and a 45% drop in stock value. So, the other option proposed by the congress will be worse? But, go ahead Biden and pick door number one and destroy everything. the MSM, big tech, the corporate world will gaslight enough people into believing door number two is at fault.
2:07, good comment
7:44 that wasn't a shopping cart, it was a punch bowl. And those weren't globalists, they were your turds.
Really showing off that grade 10 education bud
Business Insider is a pimp for Biden’s team. Their journalists will do anything Biden’s team tells them to do.
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