Any time our politicians can't pull their heads out long enough to do their jobs it makes me nervous. I'm a little-bitty business, trying to sell some handcrafted jewelry, and I don't like it when the Big Boys of government or Wall Street do stupid things that make people nervous. So no matter WHAT the reason, I can't say that this government shutdown excites me much.
I did, however, just read some news that makes me feel a bit better. From Instoremag.com comes the following article:
No word yet on the government shutdown from the National Retail Federation, among the most powerful lobbying groups in the country, which has long favored repeal of “Obama Care.” Outside of Washington DC, where restaurants and retailers are bracing for the impact of their customers’ lost wages, the impact on retail of the first government shutdown in 17 years is unlikely to be serious, say most sources. Unless it drags on, which is unlikely. The Wall Street Journal cites a Morgan Stanley report that the 17 previous government shut-downs since 1976 have only lasted a few days. That’s once every two years or so for these showdown/shutdowns, so the economy seems more or less used to them by now. Both stocks and gold were up on the news, and there has been no immediate impact on currency value. Those happy-go-lucky folks at the WSJ have even found a silver-lining in this latest brink-of-disaster black cloud. “For retailers a government shutdown couldn’t have come at a better time,” says reporter, “after the key back to school shopping period but before the crucial year-end holiday season gets under way in earnest.”
So for now I'm going to go back to making some jewelry. Gotta be ready when that "holiday season gets under way in earnest"!
3 days ago