Ad Majorem.....Wealth Builders
Repost from Moneynews Street Talk
US Treasury Secretary Jack Lewis said US will find itself in a new world order (difficulty) if it defaults on any of its obligation, even if its bond principal and interest payments were up to date, he said before Congressional hearing.
The suspension of the debt limit expires on May 19, 2013 and other emergency measures might be made to extend the debt payment limit up to August. However, once the debt limit is reached, prospects of debt default is faced and could shake the market.
IMF warns US that if the debt limit law is not passed or amended smoothly, this could damage the world economy
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