August 2, 2011
A man walks past a screen showing the exchange rate between the U.S. dollar and the South Korean won in Seoul, South Korea, Monday, Aug. 1, 2011. South Korean stocks rose 39.1 points, or 1.83 percent , to close at 2,172.31, Monday as foreign investors scooped up blue-chip auto and tech exporters on hopes that the U.S. Congress would approve the U.S. debt limit increase.
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Just like their government, consumers and individual investors will avert immediate disaster if the debt ceiling agreement wins congressional approval by Tuesday. The stock market shouldn’t crash and interest rates won’t start skyrocketing.
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