With only 6 days left now before the US defaults on it's debt obligations, there is no sign that a solution is close as the world sits on the brink of financial disaster.

Equity markets especially are much lower globally, while the US demonstrates how damaging it can be to air your political differences in public, as the Democrats and Republicans fail to agree on how to deal with the US debt situation now and going forward.

The prospect of the largest economy in the world defaulting is virtually unthinkable but we are on target for that to happen within the next week.

There is a sea of red in the global equity markets, as investors lose their nerve and protect themselves against a financial tsunami but the brave will be in there buying, to ride the huge surge in values which will occur the minute agreement is announced.