Nothing Left to Financially Lose
Biggest drop in confidence since Lehman Brothers and why some are unmoved by government shutdown.
from My Budget 360
The government isn’t the only thing that shutdown. Economic confidence in the US has also apparently shutdown as well. Many people, in particular those in the media, seem perplexed as to why and how this can happen. Unfortunately the current financial system has disenfranchised a large number of Americans. Enough to the point that politics are fully dysfunctional in Washington. What do you expect from a Congress run by millionaires? Some in the media seem to think that all Americans have giant stock portfolios and have mega wealth to lose. Sadly, one out of three Americans has nothing to their name. 47 million Americans are on food stamps. Those 25 to 34 have a median net worth of zero. The fact that the stock market has taken a hit since the shutdown has no impact on most Americans (or that it has rallied by 100+ percent since the lows in 2009 for that matter). However, Economic confidence which is more important has take a major hit falling at the fastest pace since the collapse of Lehman Brothers. When you have nothing to lose, that is when things get volatile like a cornered tiger.
Continue Reading at MyBudget360.com…
Source: http://financialsurvivalnetwork.com/2013/10/nothing-left-to-financially-lose/?utm_source=rss&utm_medium=rss&utm_campaign=nothing-left-to-financially-lose
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