Tuesday, October 8, 2013

Congress Seemingly Unable to Reach Compromise on Debt Ceiling and Government Shutdown

Congress’ inability to reach a compromise to end the government shutdown and raise the debt ceiling is negatively affecting consumer confidence; consumer confidence has dropped at the quickest rate since 2008.

At this point, this mess in congress can not be ignored.  As a result I have gotten even more defensive. I have been raising cash levels systematically over the last couple weeks.

Consumer Confidence Survey

Historically, the market bottoms in October and then rallies strongly into year-end. I will take my cue from the market’s reaction to events as they unfold. 

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