Congress finally passed a plan to avoid a default on the debt’s owed by the country. You might think that would be the end of the problem and we could go back to normal life. Instead, the stock markets reacted with a heavy dose of volatility, dropping 5% in one day. Fear that the government still wouldn’t come up with a long term solution, while combating high unemployment, also led to an S&P downgrade.
We’ll see how the market reacts in the future. Check out these great articles from this week:
Bargaineering | All About Mutual Funds
Money Crashers | 9 Effects of the Recession on Families and How to Cope
Studenomics | 7 Apps and Software to Help You This School Year
Consumerism Commentary | Ignoring Bills Won’t Make Them Disappear
My Super-Charged Life | Best Ways to Budget for Real Results
Get Rich Slowly | How to Save on Your Cell Phone Plan with Secret No Contract Deals
The Daily Beast | Republicans on the Debt Ceiling: Screwing Over America
Free From Broke was featured in the following carnivals this week:
Carnival of Wealth – The Change of Guard Edition — Personal Dividends – Money+Lifestyle
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Hopefully we will see some confidence come back in the markets this week.
This will probably keep hurting the markets in my opinion, but they will eventually recover. The government should just defaulted, especially if they don’t have a back up plan! C’mon!