22 July 2011

The financial panic begins

With no agreement in Washington yet on raising the debt ceiling, a couple of people have told me that they are looking into moving their personal investments out of the stock market and into something safer.

If enough people do this, I'm guessing that it could destabilize our economy even worse.

Not that I blame them.

Some others, who are government workers, are slashing their personal spending even more, fearing loss of their paychecks. Since personal spending is what stimulates the economy, this too will have a negative effect.

Not that I blame them.

Will the GOP please stop playing games with our lives and livelihoods? (Rhetorical question, of course.)

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