More from Alphaville on the implications for the US dollar:
"...Fine, but what would an increased debt limit actually mean for the US exactly?
Well, for a start it effectively `kicks the can’ of the debt problem to the next generation.But it could also have more near-term implications — namely a massive effect on the US dollar — a currency already under pressure from the Federal Reserve’s unconventional monetary policies and journalists from The Independent...."
Will we see a dollar devaluation in the not-too-distant future? Read on if you're up for a rather dour view on the US' ability to deal with its "gigantic and excessive levels of debt".
Related articles and posts:
1. Reasons to raise the debt ceiling - James Altucher at WSJ.com
2. Killing the goose - John Mauldin at Goldseek.