Like it or not, if you watch TV, cable or otherwise, and tune in to the news, you have purchased your ticket to today's show. Whether you like theater or not, you're watching. Everything that is happening around us becomes exaggerated! Why do snowstorms become polar vortexes and rain storms tropical bombs?
The reason? Someone needs you to keep "buying your tickets." If it bleeds, it leads – right? Fear sells – right? So, grab your popcorn and get comfortable because now you can have a front-row seat to "The Debt Ceiling Crisis." With a title like that, how can you not watch? After all, the future of the country is hanging in the balance. Now, that's drama! The headliners in this Broadway production are none other than your elected officials.
Raising the debt ceiling means the federal government is allowing itself more credit. Which means they can sell more U.S. treasuries. Here's the little fact they always seem to leave out . . .
It is not new. Extending credit and selling more U.S. treasuries has been an option for 106 years, and it's been done (raising the debt limit) 100 times. Could you even imagine watching a movie, even if it was your favorite movie, 100 times?
Probably not, but you are right now! The elected officials and the media call this a crisis because no one would ever watch the proceedings to give the Federal Government the authority to issue more Treasuries. They need you to "buy the ticket" because this is their opportunity to win votes, grandstand, and negotiate for their constituents while trying to look like heroes.
So, stop "buying tickets" to this show! Stop watching television, for that matter, and live your life less stressed. By the way, "Stop watching Television" is a standard recommendation under the GROW phase of BPG Planning's BUILD, PLAN, GROW planning model.
Oh, and just an FYI, if after eating your popcorn, you feel tempted to listen to that tasty little sound bite that sounds like, "China is the biggest holder of U.S Treasuries." Not true. The Federal Reserve is number one, and Social Security is number two. What elected official wants to star in that scene?
Sincerely,
Brian Pitell
BPG Planning