Now that our big debt-ceiling crisis is pretty much (at this writing) over with, the financial gurus have to start telling us what to do next, because it’s generally agreed that a credit downgrade from Moody’s et al is inevitable – and probably well-deserved. The experts are saying, however, that since we have a new debt ceiling, it will only be a small downgrade, not a really serious one. How does that make you feel?
So I want to hear a killer strategy from somebody. Should you buy a house while the interest rates are low? After all, if we’re downgraded, you may never see these rates again in your lifetime. All you have to do is...qualify. So what else? Buy (or sell) stocks, bonds? Buy (more) gold? Acquire yuan? Resume collecting Beanie Babies? If credit card rates go up to 40 percent, what will the Mafia be charging? Personally, I was thinking of screening some “Dynasty” DVDs to breathe some ‘80s air again. Ladies, get out those tops with the padded shoulders. They may be coming back.
But seriously, folks: we’re in the hole for trillions, and it seems today that it’s pretty close to impossible for us to dig our way out of this one, ever. Except for one thing.
Gabrielle Giffords actually made it to Congress yesterday to cast her vote on the debt ceiling bill. If she can make it back after what happened to her, do you think maybe our economy has a chance?
Now I feel just a little better.
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