RE:RE:RE:RE:RE:RE:98 cents-Imho, I think talk of a US debt default is way overblown. There is very little chance of that happening imho. They will make a last minute deal before that happens as the consequences of that would be catastrophic. The Dems and Reps know what's at stake and what you are seeing now is just brinksmanship. They will come to a last min. deal as they always do!
As for a recession coming I do agree with you it will come but I also believe that would force the Feds hand to act sooner. The smartest money on the planet ( bond traders ) are already pricing in with 100% certainly that the Fed will cut rates drastically before year end. This will be rocket fuel for the PMs imho. So I don't think the end of the world will come so soon. But each to his own and invest according to your own risk tolerance.