The phrase “government shutdown” is like so many others used in Washington—it is a phrase with political context only.
In many respects it’s also an oxymoron when “panic” is associated with it. As Buckley once said of a looming postal workers strike—”Who would notice?”
For a “shutdown” to matter there would have to be a shutdown of the most impactful of government functions—taxation, regulation, intimidation. The only thing that can shut any of this down would be Outright Revolution.
I’m not sure the markets care as much as we are led to believe. What I believe is this: when the market is down, the Media attributes it to a “looming government shutdown.”
But the day the market was up this past week, not one Media report I read or heard attributed it to there being less of a “looming threat.”
If the market turns upward this week, it’s behavior will be de-coupled from the shutdown talk. Count on it.
-——taxation, -———
Hmmmm...... Does that mean there is no with holding for the days there is no government?
Shutdown is another phony term to scare people. The only people shut down are the thousands of excess workers. It has been “shut down” 17 times and nobody noticed.
For a “shutdown” to matter there would have to be a shutdown of the most impactful of government functions—taxation, regulation, intimidation. The only thing that can shut any of this down would be Outright Revolution.
snip...
Will the IRS pro-rate our tax returns for however long the government stays closed?/s