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Toward the Brink
by James Rickards Daily Reckoning
Should market participants be concerned about the possible government shutdown at midnight on Sept. 30?
It’s too soon to answer that question definitively, but it’s not too soon for investors to take some defensive action.
If it does happen, it’ll be different from those that have gone before. Let’s break it all down…
While most of us keep our books and records on a Dec. 31 fiscal year, the U.S. government is different. The U.S. fiscal year runs from Oct. 1 until midnight on Sept. 30.
The fiscal year is dated by the calendar year in which the last day falls.