Last Updated Jul 27, 2011 10:22 PM EDT
- I am not investing in the stock market. I'm actually investing in global businesses that create products for consumers, and betting that the stubbornness of our politicians are no match for the strength of global capitalism.
- I am not going to be toting a pouch of gold to the supermarket next year to buy groceries like some character in a Dickens novel. The very thought of our economy turning back to the days when gold and bartering were mediums of exchange is downright silly.
- I am quite sure our politicians will act when theoretical consequences become a reality. To term the current bickering of Congress as childish is fair. As with children, there's nothing like being faced with corrective consequences for bad behavior to get that behavior to change. If our economy and the stock market begin a downward spiral, I suspect our politicians will get the message very quickly.
My portfolio may be a tad different than my fellow CBS MoneyWatch writer Jill Schlesinger's Doomsday Portfolio, but neither of us are doing much. And if the stock market does tank, I'll be greedy when others are fearful, as the legendary Warren Buffett put it best.