Why the Markets should not panic
Why the Markets Should not Panic
1) Everyone should have by now read "The Hitchhiker's Guide to Galaxy" which as you know has the useful 2 words written on it.. "Don't Panic!"
2) There are plenty of either debt free equities or equities whose cash far exceeds debt levels. Should, anything happen to interest rates it will have no impact to companies who do not need to borrow.
3) August 2nd was always a phony date selected to be 1 day before President Obama's Birthday Mega Fundraising Bash (Aug. 3rd).
4) If a failure of leadership is to raise the debt ceiling then the lack of doing so would then be the utmost best form of leadership.
5) Much better to take out ones frustrations on a punching bag or training dummy than the stock market.
6) As longs if you panic the shorts win. We can't have that can we?
7) (NYT) is still an $8 stock. Obviously if there were panic striken end of the world scenarios coming a loss making equity like this one would be at 52-week lows.
8) Even if the US DOLLAR is worth ZERO, your personal possessions still have value. So, sleep well knowing you could always sell them off for GOLD / SILVER coins or just sell em off to Australians whose DOLLAR is doing quite well.