Is the sky falling? Again?

Not necessarily.

Are we in a mess? Yes.
Did we get here over the weekend? No.
Is it going to be a long road hard road to fiscal responsibility? Absolutely.

But don’t head for the highest bridge just yet! Here’s some of the reasons why.

Facts we knew:
Debt Ceiling was going to be raised
Interest rates would go up
Standard & Poors would downgrade
Politicians would be all over the news pleading their case
Market has already factored in the “Fear Factor”

What we didn’t know:
S&P would make an adolescent 2 Trillion mistake, almost unforgivable
Leadership would be angry and surprised over downgrade
Our “Budget Deficit” which ends September 30, is projecting 1.399 Trillion and looks to be coming in much lower
The Feds would vow to keep interest rates as low as 0%

VIX is an index used to track the volatility in the S&P 500 which can also be seen as a measure of investor Fear…how scared are we?
2008 Financial Crisis – 80
2010 BP Oil Spill – 25
Today – 48

I heard about a comment, didn’t hear it first hand, regarding a world Leader accusing the American media of ruining the worlds economy. Hmmmm

With all the things I know first hand the media has reported incorrectly, in sound bites, reporting only a portion, sensationalizing, it is true and disheartening; Greece, Japan, BP, Florida coast, etc etc etc.

Lesson? Take what you hear with a grain of salt, including what you hear from me.

Next step? Explore options where you have more control or at least the people you hire to manage your money have more control.