The link above is to an Associated Press article appearing in the Arizona Daily Star today. It is surprising to see the rather large numbers of “shutdowns” the US Government has experienced in recent times. This article does not make an estimate about the cost of a government shutdown but others estimate that if it lasts as long as the late 1995 shutdown, it could cost taxpayers as much as $2B. I hope the shutdown can be averted and thereby affect the financial markets only marginally but, as conscientious advisors counsel their clients about all investing: past performance is no guarantee of future results. I sincerely hope that the Affordable Care Act is not delayed as a “compromise”. I will write more about why I support the ACA in another post. As of this writing, it appears that investors are, indeed getting a bit jittery as the DOW is down 103. I will use this as a buying opportunity if the decline is significant enough.
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