What Are You Doing to Prepare for AUG. 2?

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A) Nothing because you're positive an agreement will be reached before then.

B) Just ignoring it and, if no agreement is reached, hoping it will be like Y2K, much ado about nothing.

C) Selling all your stocks, converting all your assets to gold, and planting a victory garden.

Me, answer B.
 
Investing in oil and gas
smile.gif
 
"B"

The failure to hike the debt ceiling does NOT mandate a US debt default. All it does is make the US Treasury prioritize its disbursements/spending.

Most analysts believe that interest payments would be the first priority and then Social Security, Medicare and Medicaid would be next in line.
 
hoping for A.

If A does not happen then, B.

C, naw.

So basically nothing. YoLaDu just pawn in game of life.
 
i am taking a "balanced approach" in half hoping for an obama resignation and half hoping the whole thing just craters so we can start over. we are fooked. that is the only thing i am 100% certain about. even if we raise the ceiling which is going to happen one way or another, we will revisit this time and again until we cannot pay out bills even with printed money.
 
B, this is a huge lever to those who want to balance the budget and have the fortitude to do it.

In fact, given no timely agreement, I'd love to see President Marxism sweat for a couple of weeks or months learning how to prioritize and live on a budget.
 
First, I will email my secretary who pays less in taxes than I do (somehow even though my taxes are higher than her salary) to let her know I am headed to my international tax haven. Before boarding my corporate jet, I will push an old lady off a cliff. In other words, business as usual for us billionaires!
 
Selling stocks seems silly to me. Yeah, the stock market could very well tank, but it'll reverse course when we fix things. And we will eventually fix things.

Actually I can liquidate company stock on August 11th. And I could have sold it 6-7% higher late last week. Hopefully we get a bump after 8/2. But I will definitely sell it; sovereign debt worldwide scares the **** out of me. Remember how the subprime crisis affected Norwegian municipalities? Well, major losses on Greek, Italian, Portuguese, etc. debt could cause issues here people aren't thinking of.

But I'm 33 (today actually). I'm not going to convert my retirement to cash at the moment.
 
I've got most of my retirement account in "guaranteed" investments and the rest in stocks. I suspect the "guaranteed" account probably contains a large amount of government bonds, which (I would guess) is the worst place to be at this point. Hope I don't wind up a greeter at Walmart or bagging groceries after I retire.

Oh well, why should I worry. My gubbament will take care of me, right? I mean, right?
 
I switched over to bonds months ago waiting for the eventuall double dip of the stock market. Analysts have predicted it would happen at end of 2011 or early 2012. This could escalate things.

I did watch new episode of Entourage last night.
 
I might try to pay off my house by the end of the year. If I do that, it means that my family will be completely debt free. Always seems to be a good fiscal position to have no debt.
 
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