As we move into the holiday season, the stock market’s attention has drifted away from economic data and earnings reports. The focus is squarely on the travesty that is the world’s politicians and leadership. Daily volatility is driven by reports of the European Union’s inability to come to an agreement on austerity measures for troubled European countries. More recently, the spotlight is on the failures of the congressional “super-committee” to agree to deficit reductions. The disconnect between politicians and reality has always intrigued me, but it is now taking on a life of its own. What does it say for us as a country when our elected politicians cannot agree on $1.2 trillion of deficit cuts when in reality it is $5 to $6 trillion needed to make a difference? I fear that even if we elected new officials to lead our great nation, the results would be the same. I long for the day the markets react on earnings and economic data and not the spectacle that is political sitcom.
As always, I stress that in this ever-changing political and economic environment, sensible diversification is the key to weathering any market
uncertainties.
Jason M. Vavra, CPA, PFS
Disclaimer
The information contained herein is not considered an offer to buy or sell any securities referred to herein. Opinions expressed are subject to change without notice and do not take into account the particular investment objectives, financial situation, or needs of individual
investors. There is no guarantee that the figures or opinions forecasted in this report will be realized or achieved. Past performance is no guarantee of future results.
