by WorldTribune Staff, January 10, 2019
The founder of Swiss America Trading says he has no problem with no government.
Financial analyst Craig R. Smith contends that the partial government shutdown has little impact on everyday life for anyone in the United States not employed by the federal government.
“From a personal perspective, ask yourself, is there anything in your life that has been inconvenienced? Probably not, unless you are in a national park, and even then, you should be in the wilderness and not in the public buildings.”
From a business perspective, Smith said the shutdown “has had virtually zero effect on the markets.”
Asked to provide an example of any major public company that was impacted more negatively from other factors besides the government shutdown, Smith answered:
“Let’s start out alphabetically, in a word: Apple. That stock lost nearly a half a billion dollars in one quarter and that had nothing to do with any of the overheated dumb and dumber political bickering. It had everything to do with the cooling of the market for smartphones.”
There are much bigger risks than a sustained government shutdown to the volatility of the markets, the financial analyst noted.
“The Fed and China are a far bigger issue for the markets. Beware the bear and dragon,” Smith said.