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| Fellow Investor,
Well, well. Congress did it. And more than a full day ahead of Treasury Secretary Geithner's absolute deadline on Tuesday, August 2. I will admit, I'm surprised. Not that they reached a deal -- after all, I playfully wagered my entire business that a deal would get done with High Yield Wealth editor Steve Mausy. But I figured it would be a midnight deal.
Of course, nothing is signed, sealed and delivered just yet. I expect that may not happen until this evening. But the rhetoric from Congressional leaders and the president suggest the signatures are a formality.
It would seem that the financial markets' message over the last few trading days was received. Stocks were approaching some pretty important support levels. And members of Congress are investors, too.
Will this deal be enough to keep the ratings agencies from downgrading U.S. debt? I'd like to think so. It seems to me that the ratings agencies have been a little overzealous in targeting the U.S. rating.
Economists are split almost down the middle, polls show. Roughly half say the U.S. credit rating will be lowered.
How much does that matter? Probably not much. U.S. Treasuries are still the safest government debt in the world.
Now, maybe, we can get back to focusing on 2Q earnings, which have been excellent so far. Earnings per share have topped have analyst estimates at about 78 percent of the 305 companies in the S&P 500 that have reported so far. Net income has grown 19% and sales have increased 14% according to Bloomberg... [continue reading at WyattResearch.com]
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| The I.R.S. Will Hate This, But it's Perfectly Legal
 U.S. Treasury TIPS are virtually a scam. They're supposed to be indexed to inflation, but considering that the government's "official" inflation numbers don't include energy and food, they're always woefully too low. And since TIPS adjust with official inflation and not real inflation, investors fall behind more and more every year.
The world's wealthiest investors have known this for years and use their own "Privatized TIPS". They've enjoyed a steady stream of income from their own Privatized TIPS program.
This has been their secret... until now.
A new guide shows you exactly how to set up your own Privatized TIPS program, no matter how much money you have to start with.
Click here for more about Privatized TIPS. |
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Market Snapshot
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| | US Markets - July 29 Close | | Dow Jones | 12,143.24 | -96.90 | (-0.79%) | | 
| | S&P 500 | 1,292.28 | -8.39 | (-0.65%) | |
| | Nasdaq | 2,756.38 | -9.87 | (-0.36%) | |
| | Currencies | | EUR/USD | 1.427 | -0.013 | (-0.927%) | |
| | USD/JPY | 76.575 | -0.14 | (-0.183%) | |
| | GBP/USD | 1.629 | -0.014 | (-0.849%) | |
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