I kid you not.....
There is, it appears, an emerging sense of panic developing on the cable news circuit over the state of a deal on the nation's debt ceiling. On Fox News Saturday afternoon, Patricia Powell, founder and CEO of Powell Financial Group, advised viewers that they would be wise to have $1,000 in cash on hand if Congress were unable to come to a deal.
"Everybody needs a cash reserve and I'm talking … seriously about cash, cash dollars in your wallet -- not just maybe money in the bank, but you also want money in the bank and not just in the money market fund," said Powell. "None of us know, if they … choose to default, whether there is going to be a credit crunch, whether you might have some trouble accessing some of your credit, and you might even have some trouble with your money market funds. So none of us know. Make sure you have cash."
"How much are you talking about?" asked the Fox host.
"For most of us, if we had $1000 in bills, in our drawer, we would be fine," said Powell. "I don't expect that you're going to need them, but you know what? If you need them, it would be nice to have."
Here's hoping that all the clueless viewers who follow this advice do not lose what might be their life savings or get robbed in the process.
This is reminiscent of the duck tape.