I am sure that you have not been immune lately with discussions and political posturing in reference to the impending debt ceiling crisis and default and collapse of the entire national and global economy as we know it.
My intention was to make a video on this topic, however, I came across this great video and explanation by Brian Wesbury, Chief Economist at First Trust Advisors and frequent contributor to several of the daily business shows on TV i.e. Fox, Bloomberg, CNBC and others. (I could not have done any better).
This 5 min video will give you a reality check as to what is happening and will also provide to you at the end a common sense approach to protect your portfolio and plan.
Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Wheaton, Illinois. The Wall Street Journal ranked Mr. Wesbury the nation’s #1 U.S. economic forecaster in 2001, USA Today ranked him as one of the nation’s top 10 forecasters in 2004 and Speakers Platform named him aTop 5 Keynote Speaker in 2011.
Mr. Wesbury is a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago. He is also a frequent guest on Fox, Bloomberg, CNBC TV and BNN Canada TV. In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress.
Wealth and Business Planning Group, LLC (The Financial Quarterback™) is a Registered Investment Advisor in the State of Florida that provides Fee Planning and Asset Management. Depending on your state of residence, Wealth and Business Planning Group, LLC (The Financial Quarterback™) may not be able to immediately provide services. For more information go to www.thefinancialqb.com. Richard E. Reyes, CFP is an Investment Advisor and President of Wealth & Business Planning Group, LLC (The Financial Quarterback™).