Media and misleading information

The media, Wall Street, politicians, strategists, and almost everyone has become conditioned to look for things to worry about. But the concerns continue to be good for newspaper titles, and not relevant for stocks.

For the past year, heading into September, the overall feeling is that people became bearish thinking that there would be a taper driven market crash. It didn't happen. Then, in October, people became worried about the debt default and sold out.  It didn’t happen. The media is always out there to look for news that would catch people's attention so we should take news from the media as a grain of salt.

I am still skeptical of the bull market because of the debt issue but I think this bull market is still going to last until the end of the year. After the end of the year, we will have to revisit and talk about the elephant in the room which is the looming debt ceiling. The United States has a huge debt that I am not sure how we will repay. The politicians are stuck between a rock and a hard place. Anything that they do will be detrimental in some sense. If we continue to increase the debt, we will just cause a situation where our children and their children will have to pay. I believe the government has become too large and is just not efficient anymore. There is too much unnecessary spending. If they stop certain spending, the fear is that it will cause a recession.