NewburyportNews.com, Newburyport, MA

Business

August 2, 2011

Why shouldn't the US be downgraded?

(Continued)

We truly don't know what the long-term impact of a downgrade in our country's AAA rating on the world's markets will be. But it is a serious negative in these recessionary times.

So, what about you, the little investor who used to believe in the full faith and credit of the U.S. government? Is there a call for action here?

Yes, but it has nothing to do with your investments. Unless you are a day trader, an options trader or a person who is investing for the next quarter's return, leave your well-diversified, long-term holdings alone. Practically speaking, the only thing you can do is to write to your Congressman or woman and share your concerns. Unfortunately, if the media portrayals are to be believed, there are a mere pitiful few in Congress who listen to anything but their own rhetoric and ideology.

• • •

Donald E. Askey, a Certified Financial Planner™ professional and president of Provident Advisory Group, is a registered fee-only adviser, headquartered in Newburyport. For questions, visit www.providentadvisory.com.

Text Only | Photo Reprints

Special Features
Port Pics
AP Video
Disabled Veterans Memorial Nearing Completion Last Mass Lynching in U.S. Remains Unsolved Home-sharing Programs Help Seniors Ex-NYC Mayor: US Should Allow Flights to Israel Clinton: "AIDS-Free Generation Within Our Reach" Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City