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Today's Crisis: the debt ceiling

Updated: Oct 24, 2023

Today’s crisis is the debt ceiling. Will Congress and the President strike a deal to avoid a US government default?

They’ve raised the debt ceiling 78 times since 1960 (more than once a year on average), so I’m confident they’ll get it done again.

The news will always have a crisis for you to focus on.

Today it’s the debt ceiling.

Next month it will be something different.

Last month it was a banking collapse.

Last year it was inflation.

Before that it was the Ukraine invasion.

COVID took most of the headlines of 2020 and 2021.

2019 saw riots and protests in Hong Kong, and Donald Trump getting impeached.

Should I keep going?

Sooner or later, one of these crises will result in a significant market downturn, and some "expert" will appear on your TV saying "See? I was right!" but they don't get an interview the 9 out of 10 times they were wrong and led some investors to make a poor decision on their investments.

While we all fret about what will happen next the market will keep doing what it does: generating positive returns for investors over time.

What should you do? Build a financial strategy that remains flexible, and then turn off the tv. The news wants to sell ads. That’s it. They don’t care if you make a disastrous financial move, just as long as you tune in tomorrow.

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