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Debt ceiling prediction

10 Jul 2011, 13:53 UTC
Debt ceiling prediction
(200 words excerpt, click title or image to see full post)

The presumably upcoming vote on raising the debt ceiling is the big news story of the US today. Personally, I think they should just go with an up and down vote, but there is all these messy fights about wanting to attach conditions to the debt ceiling. Despite the ugly political fights, however, I have a feeling that things will go like this:

The August 2 deadline will continue to approach, with no end in sight to the debt ceiling fight. In fact, Republicans will make increasingly outrageous demands, making it seem even more likely that the United States might default on part of its debt.
With the huge amount of uncertainty and fears of a default by the United States government, the stock market will plummet drastically near the August 2 deadline.
Goldman Sachs will make a killing with all the shorts it would have made. Right before the deadline, they will also buy up a whole lot of stock at rock bottom prices.
In a dramatic vote immediately before the deadline, Congress will agree to raise the debt ceiling. Republicans may or may not be trying to deliberately cripple the American economy for working class people for their ...

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