Oh, gosh, yes, way too premature to dump PMs.
Although things seem to be reversing for the positive, there are still many, many possible outcomes. There will be a downgrade at some point, which should be positive for PMs.
Then there is of course the elephant in the room the policymakers have yet to confront: Medicare. Its future burgeoning costs are not addressed.
All I am saying is that, finally, a small step has been taken. There is now a widespread recognition by the public that our fiscal problems require attention beyond lip service. I am not Tea Partier but it must be admitted that putting fiscal problems front and center was the result of the Tea Party hitting everyone on the side of a head with a 2 x 4, which is what was needed. The professional politicians would have been happy to let it be someone else's problem in the future. It also means that the public may well exercise its vote in large measure on the fiscal wisdom of the candidate.
A good thing, not enough, full of future issues, but all in all a welcome, imo.
How it will end, who knows. For now, I am actually surprised that gold did not go down a bit more than it did. It is printing green as we speak.
Don't see getting rid of PMs for at least 18-24 months, if that. |
