As you no doubt have heard, the Congress and the President are playing yet another game of Chicken over federal spending, raising the debt ceiling, and ObamaCare. The markets have clearly not been enjoying the theatrics and if the government actually defaults on the debt later this month, the fears will accelerate and the markets will almost certainly react to those fears.
Despite all this, we do not see this as anything more than a passing problem that will soon fade out of our memories. Think back to the almost identical previous crises involving the President and Congress in recent years, and also what seemed to be cataclysmic debt problems in Greece, Spain, Italy, Cypress, Portugal. What became of those crises? Nada. We got through them and pretty much all that happened was a lot of newspapers got sold and more people watched cable news channels.
We aren’t overly concerned about the goings on in DC and, as usual, we’ll take advantage of the current situation by adding to client equity positions if the markets drop enough. We certainly are not worried enough to sell anything, and do not think you should be either. If you decide to pay any attention at all, we hope you watch the fireworks unfold with a wry smile and say to yourself, “I think I saw that movie already, and I know how it ends.”
The economy is doing fine and continues to show positive signs of future growth in the months ahead.
Alamo, CA neighbors and beyond it’s time to discover your Place of Possibility™ today. Our goal is to address every aspect of your life, defining a clear and actionable plan that meets your lifestyle needs. So, whether we’re holding your hand or taking more of the reins for you while you do life, you can rest assured that your money is growing and working for you while you enjoy it. Who knew?! Sound like something you’re struggling with or need more of? Get in touch to schedule a free 30-minute consultation, and let’s get started! You can contact us in a few different ways. One, by calling at 925.736.6410, you can send us an email at Info@APlaceOfPossibility.com or jump right into our calendar and select a date and time that works for you. We’re excited to meet with you!