September Is Going To Be One Hell Of A Month
You should really appreciate this this three-day holiday weekend if you have one, because September is shaping up to be HUGE.
This afternoon we got the stunning news that Obama will seek Congressional authorization before striking Syria. A strike on Syria had been seen as imminent, so this seriously sets the calendar back, and creates a whole new story which is the vote in Congress on the Syria action. Congress gets back September 9 (though theoretically it could be called back before then), so this is going to be a long, developing story on a huge vote.
This comes on top of a whole bunch of other developments coming out of Washington:
- The government is due for shutdown unless Congress can pass a new Continuing Resolution (a budget).
- The Federal Reserve is expected to "taper" the pace of bond purchases (slow down quantitative easing).
- There's the August jobs report.
- The debt ceiling debate (we'll hit the debt ceiling in mid-October).
- Sometime in the next few weeks Obama will name the next Fed chief.
Oh, and September is historically the worst month for the stock market.
So yes, HUGE month coming up.