Whose running Congress these days? I bet Ozzy Osbourne is the conductor on this “crazy train.”
You see only crazy people and the House Republican leadership want to shut down the government. As I noted in Investopedia, the shutdown fight could lead to a far more worrisome battle over the debt ceiling, which could lead to the government defaulting on its financial obligations for the first time in our country’s 237 year history.
From the story:
The government is expected to hit its borrowing limit, which it needs to fund its activities sometime in October. Though some people have tried to compare the U.S. with cash-strapped countries such as Greece, there is a critical condition. Greece needed several bailouts because it couldn’t afford to pay its bills. The U.S. can afford to pay its creditors but sometimes threatens not to, a situation that in 2011 cost the US its AAA bond rating
For now, the market is yawning at the impasse in Washington. Major stock indexes are trading up. Gold, though, is plunging which is strange since people usually buy the metal when people get scared about their economic futures.
People can’t relax because this could easily be the calm before the storm.