Today, I blinked.
I held out as long as I could stand it. I kept hoping for some kind of movement or sign so that I could stay my decision. Nothing.
The eleventh hour is here, and I could wait no longer.
And so today, I told my broker to sell all my stocks and bonds and close my investment account.
I'm really upset about this. I am suprised at how anxious, angry and hurt I am.
And I'm not talking about heaps of money here. I had a small amount of money invested in the markets, less than six figures.
But I am upset because a) I know I will lose some value by this action, b) I will have to pay a capital gains tax, and c) this was supposed to be my long-term investment that I was going to leave alone and let the market do it's magic.
But I don't have the courage to do that this week. I blinked and chickened out. I moved everything to cash.
You conservatives have won. I am scared. I am taking my marbles and going home.
My thinking is a small loss this week is better than a much larger loss in the coming months. And now I have to make peace with my decision, which is really hard today, because I keep second-guessing myself. Which is made worse by the knowledge that there is a real chance that Washington will go back to working for greater prosperity instead of working against it, and this will all blow over and the markets do fine.
I am perfectly aware I am acting out of fear, making my ability to think clearly even more difficult. Obviously, I am not very savvy when it comes to investing.
Everyone says the consequences of a government default could be catastrophic. The financial advisors all murmer the same reassurances about this and that being highly unlikely and security through diversification. Exactly as they said in the summer of '08.
I am so upset I want to hit something. Whatever happened to politicians being for peace and prosperity?
Well done, Washington, with a special recognition to all the ignorant bigoted anti-American conservatives who made this happen! You have shaken my confidence, and today, I can no longer put aside my fears to be bullish on America.